Morning journal and courier., 1883-08-16
9hlantid.
NEW Yonx, August 15.

NEW IoRks Auguss 10.
 For hours before the time for the opening of the Stock Exchange this morning Wall street was filled with broksrss anxious customers and speeding mes senger carrying messages from one broker to an- other. Everyone seemed anxious as to how the mar ket would act to-day. yet 8 good deal of hope was given by the sharp recovery yesterday afternoon and the firm closing last night. They claimed that any one having any interest in the market entirely at the mercy of the large speculators The air was full of run1ors unfavorable and otherwise some had it that several houses very shaky and an- other downward turn in the market would drive | many of them to the wall. Consequently the open ing of the market was awaited with great anxiety. The doors of the Exchange were opened at the usual hour and fAs rush into the building Of brokers and customers was simply astonishing. There was an almost entire absence, however, uproar and ex citement which characterized yesterdays dealings The usual horde of room traders and their following were on hand and attempted in the early transactions to forcS prices down again and for short time ed quite an unsettled feeling with slight decline in soms of the list. But 1t soon became apparent that the parties who had steadied the market yesterday did not intend to let their work be undone by the manipulation and raids this class of speculators. They bought in all the stock offered rapidly as it came out and 1t said that combination had been formed consisting of Gould, Sage, Willard, Morgan, the younger Vanderbts, woersheier, c. J. Osborne, Frank Work and H. N. Smith to sustain the market and allow further decline. This statement found many believers and had the effect to great extent of restoring confidence. The bears took fright at the looks of things and began to cover vigorously they had sold and thus supplemented by purchases from outsiders others induced by the low prices quotations took an upward turn and with the excep tton Of slight reaction caused mainly by realizing sses continued the rise to the close, when they showed an improvement over last evenings closing of < to per cent. About midday the suspension of E. c: stedman x Go. announced, but the failure had cfo fof Ina WAS caused by attache of the house missppropri- atng the securities using them for his specua- fion on fictitious accounts in other houses Western Union exhibited considerable weakness to-day and at one time showed decline of 25S per cent, but sub sequently recovered to within fraction of last ings prices. The reaEons assigned for the weakness of the atoek are that the company's earnings will she large decrease because of the operators strike and that it saens likely to have serious competition l to deal with. The announcement made that the l capital of the Postal Telegraph company had been fixed at tWentyone millions, of which nineteen mill lions had been issued to be sold that of this last amount to be offered for sale twelve millions had I been placed in the hands of President Coe of the 1 American Exchange National bank also that W. Mackay Of California bonanza fame had been elected president of the company. The greatest advance l to-day was in Oregon Improvement, Oregon Trans continental Northern Pacific, Jersey Central North | western, Burlington and Quincy, Louisville and Nashville, Lake Shore and Missouri Pacific. In the speciaties aside from Oregons, Colorado Coal closed higher, Chicago, St. Louis Pfttsburg preferred K, Minnesota and St. Louis 11Ea2 and Pullman Pal l ace Car l.
 | Monsy loaned at per cent throughout.
 Exchange closed quiet at s3Ka4s7 posted rates ; actual rates 4s2ka4S22 for sixty days 4Ssa4861 for demand.
 | Governments closed firm.
 Closing prices reported the private wires of l BUNNELL & SCRANTON, Bankers and Brokeral | Rid Asked