Daily globe., 1883-08-18
NEW YORK.
I Special Telegram to the Globe !

New YORK, Aug. II wall street was in |
good humor to o-day, and the market on the
stock exchange showed fair degree of
active trading and much natural strength
Stocks were inclined to do better this |
morning. There was considerable activity |
in Oregon TranscOntinental, and it went
above 68 by midday. Western Union tele- |
graph also recuperated, selling at 76. The |
tone was decidedly frmer throughout. One |
rumor was to the effect that some of the
leading bears were about to compromise
and so in for a eaneral advance. There
was certainly some very good buying of
stocks during the afternoon, and there was
no unfavo-able news from any quarter.
This Vanderbilt properties we're particular
iy well sustained all day, and the grangers
displayed much strength. New York Cen
tral was scarce for delivery. Northwestern
earnings for the second week in August
increased $48,O0O. St. Paul increased
$4,000. Manitoba decreased $37, 600 dur
ing the first week. Oregon Transeonti-
mental sold at 1923 near the end. The
closing was firm, the reaction trifing, and
several properties at about the best figures
of the day. =
The London cables reported activity
and advancing prices in American securi-
ties there, and our market there was good
buying of nearly all stocks There we're
several brief reactions, and the Northern
Pacific especially did not gain much in
price. 1t was plain that some one has
been selling these stocks Iiberally, and 1t
is supposed that the strong parties who
bought large amounts at bottom figures
have realized some of their profits and are
ready TO take advantage of another raid
and buy again. Oregon TranScsRtinentGl
was especially strong.
Western Union also ragaineda good deal
of its sudden decline of Wednesday and
Thursday. There were no important ru-
mors. The market opened strong and
strong opening is expected tomorrow.
The market must naturally have reaction
soon, as the rise of the past three days has
been rapid. The dealing to-day was
more like an oId-fashioned bull market
than anything that has been seen on the
stock exchange for over year. The mar
ket centered largely in the fancy stocks.
4 prominent commission house came in
again this morning as buyer
of Oregon and it was easily advanced l 115
points, at which figure there was consider
able realizing.
After such holdings found a resting
place, there seemed to be no effort to ad-
vance it, but it closed very strong at about
the highest prices of the day. Western
Union was feature, and the Gould brok-
ers were steady buyers. All the dividend
stocks we're very strong. Northern Pa
cifc were feverish during the early hours,
but showed strength during the last hour.
Mr.. Willard says the question Of divi-
dend may be acted upon next month. The
Gould stocks were strong and there was
good buying in Wabash, and also good
buying in coalers. The general tenor OF
the street is in favor of higher prices
based on the prosperous condition of the
country and upon the supposition that the
panic in Wall street has had no effect up
on the commercial situation. All vel
managed dividend stocks are unques
tionably a purchase on every resction
From the way in which the mArke
has been handled the last two or three
days, being steadily supported withou
any effort to drive the shorts, and still
closing higher and steady every night
many of the shrewdest operators on tn,
floor think we are having an old fashioned
Gould market. A very conservative oper
otor of large experience gives the fellow
ing advice: Buy all good stocks on thi
market for the next sixty days on depres
sions, and take profits without holding 70
large advance. At the end Of sixty day
we can tell where the greatest losse
have fallen that have been recently made
All we need to make bull market now i
the importation OF gold, which is likely t.
come. Investors are buying, and vii
certainly relieve the market on dspres
sions of any surplus stock, and each dc
preston will see less and less stock comm
on the market. Stocks have now son
into very strong hands at very low price
Russell Sage is of the opinion that th
market will soon recover lis lost grount
He thinks that Gould stocks on the list al
cheap, and is looking for an almost imme
diate improvement in the market. Oyrl
w. Field says that, while he has dol
comparatively little, he believes that bo
tom prices have been reached. Speakir
of Western Union affairs Mr.. Field say
S'Our receipts since July 1S have fallen {
perhaps Is per cent, but this 10 due
stagnation of business rather than to n
inconvenience caused by the strikir
operators" An official of the Wsetsl
Union company says that talk of passil
the usual dividends is all nonsense. R
ceiPts of July show nst earnings at sbo
the rate of per cent.
j. r. keene does not feel very balli
on stocks, but admits that a reaction is
order. He says, however, that he does n
look for any great rise in values. Al
steady buying by the organized bull lea