Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-10-19
SHORTS SQUEEZED.
The s'C0rner" in Jersey Central the Sen.
satiOn of the Day I'm New York
Stock Circles.
The ''Bears" Badly Nipped-The Short
Interest Estimated at Over Fifty
Thousand Shares.

New YORK, October 1S.-The sensation |
of the day in stock circles was the
squeeze" in Jersey Central. This stock |
opened at SO regular, rose to SSf and |
reacted to S43@S5s. Cash transactions
were at 5000 and S5@S6. As high as
and 5 per cent. was paid for the use OF
the stock until tomorrow, with most of
the transactions at 293 per cent. Before
the close of the delivery hour, there was
a reaction to per cent. The
"BEARs' PRACTICALLY coRNERED THEM
SELVES.
Within the past week the stock has COM
manded almost any rate lenders desired to
ask. Yesterday larger owners called in
PEELED to 90 in the open market, with the
result already noted. The general market
opened lower, but the strength of Jersey
Central had a favorable influence on the
list, and an advance of to per cent.
took place, the latter in Oregon Transcon-
tinental, which ran up to 37s. The
"bears" then offered stocks freely, and the
IMPROVEMENT WAS NOT ONLY LOST
but many shares sold below yesterdays
closing. At midday the temper of specu-
lation turned for the better, large amounts
of stock being taken for both long and
short accounts. London was also buyer.
This resulted in an advance OF to 5 per
cent, the latter on Oregon Navigation,
which sold up to 107. Northern Pacific
rose q, to 26s; preferred #, to 62f;
Oregon Improvement 4, to Il; Lake Shore
3, to 953; st. Paul %, to 90; Quincy p, to
1929; Louisville and Nashville 24, to Al
Northwestern p, to 11S; Missouri Pacific
q, to 922; Omaha q, to 32f; preferred q,
to 94s Central Pacific 2, to 634; Reading
?, to 81; Lackawanna 2, to 114f; Western
Union Il, to 77s; Kansas and Texas l 5, to
225; Texas Pacific Il, to 2ls; New York
Central Il, to ia; Union Pacific Il, to
S74; Wabash preferred u, to 81; Denver
u, to 25s; Canada Pacific ], to So; Mich
| igan Central Il, to 79; Wabash Il, to 10;
Manitoba II, to 1861; Canada Southern
| II, to 40, and Erie l, to 2S3.
THERE WERE REACTIONS
at intervals of to Il per cent, but the
market finally left off strong at near the
highest figures of the day. The success of
the movement in New Jersey Central, it
| is reported, has induced some of the large
| holders of other stocks to combine for a
| similar purpose and the belief obtains
| that some stocks will shortly be singled
out and moved up sharply to force the
bears to cover. Some of the bears have
employed
VANDERBILT AND GOULD BROKERS
to sell stocks, with view to creating the
impression that those operators were un-
loading. This fact was brought to light
this afternoon, and had its influence in
causing rally near the close. 1t was re-
ported that an additional 100000 of gold
has been shipped from the other side. As
compared with last nights close, prices
are l to per cent. higher, the latter Ore
gon Navigation; Manitoba, however, is !
lower, at 1853. Northern Pacific preferred
lent at I per cent, and Reading, New York
Central, Northern Pacific common and
Union Pacific at 1-64 for use.
THE CORNER IN JERSEY CENTRAL.
The Commercial Bulletin says of the cor
ner on New Jersey Central that the amount
of stock is $1S,OOO,OOO, but out of these
100000 shares it is believed that there is
not more than 10000 or 1900 on the
street. Gen. Calls, of Calls & Lewens
said his house had very short time age
purchased 400 shares OF the stock fol
actual investors in Philadelphia. The lot:
were bought in small parcels OF 90 and
100 shares at a time. These shares are
not on the market, and the scarcity this
morning was a natural one, and not caused
by any artificial means. He thought the
short interest was perhaps as much as
| 30 600 shares