Daily globe., 1883-08-09
NEW YORK.
Especial Telegram to the Globe I

Special Telegram to the Globe
New YORK, Aug. 8.-The bears greatly
enjoyed another picnic to-day, and selected
for their hammering amusement Oregon
Transcontinental, which proved the weak
est feature of the day. A sudden attack
was made on this stock, and it fairly wilt.
ed, falling off AZ from the opening, and
selling down to 20, which is decline of 10
since January 1. In 1882 it sold as low as
60. The Northern Pacifcs were pressed
for sale, more particularly the preferred,
and it declined about 2. The market has
been quite active and at times decidedly
feverish. Western Union was about the
only Gould property that was we'll sustain
en-. The way it stands up in face of the
weakness surrounding it is rather remark
able. A break in it would prove very demor-
alizing to the balance. Chicago Alton
was exceptionally strong, being quoted
at 1876. Pullman sold at 12815 and 129
Texas Pacific was down to 80 at the last.
Cleveland, Columbus, Cincinnati & Indian
apolis touched 65, as against 70 last even
ing. The feeling at the finish was very
unsettled. Missouri Pacific earnings dur
ing the fourth week of July decreased
$6S,0Oo, Wabash 100000, Missouri, Kan
sas and Texas increased $4,000, and Tex
as Pacific $4,000
The opening was weak and the market
soon became very feverish, with a tendens
cy to decline on reports of trouble in the
dry gooGs trade, and the hammering of
the bears. Towards noon there was a
steadier feeling, and prices recovered
little. The Oregon deal was the feature of
the day, and numerous reasons were given
for its decline. The most likely to be cor
rect is that Gould has been
short of Northern Pacific preferred,
for some time and has hamm cred Oregon
in hopes of breaking the former. It is be-
lieved that the market will not turn till he
has covered these shorts. There was good
buying in New York Central all day, and
all the Vanderbilts were quite steady. The
Gould stocks took their punishment yes
terday, and were allowed to rest quietly
The business situation seems to be i'm
proving little. There is a better demand
for five and six months business paper.
The refusal of the railroad operators to 60
out is believed to indicate the end of the
telegraph strike. Boston dispatches say
that troubles there in wool, leather, ETC.,
are over. There was inside buying OF
Oregon at 7115 to 72. The market closes
very feverish, especially in Oregon and
Northern Pacific preferred, and the bor-
rowing reflects large increase of short
interests in all stocks. A rumor current
in Wall street to-day to the effect that Mr.
Jay Gould's check has been refused at one
off the banks could not be verified. The
report is rumored to have originated il
the expiration of time loan for three mil
ton dollars held by one of the principal
banks, in Mr.. Gould's name. The tins
expiring the bank, it is said, declined tx
renew the loan. This fact signifies little
as loans are constantly being transferred
The bank, according to the report, held a;
collateral against the loan stocks and
bonds in Missouri Pacific, Western Union
and Texas Pacific. The report created nj
excitement among speculators, and the
fact of the loan being discontinued, ever
if true, was considered a matter Of
every day occurrence. At Mr.. Gould'i
Office the report was denied and pronounc
ed story, circulated by the bears to affec
. the market.
The Post says there is nothing in tht
general state of trade or finances in tn,
country at large to cause any considera-
r BILE decline in prices of either securities o.
comm odities. The Graphic says, it is no
ticed while the bears have been able II
raid the fancy stocks, the dividend payins
securities have remained firm, which i
marked as showing that the buying by in
vestors at the low prices prevailing con
! tinues. The managing partner of q larg
commission house, states that he has re
ceived within the past two weeks owe
four million dollars of money to be use'
: in the purchase of stocks, when the Gus
toners who have sent it, see signs of
:, turn. They believe that when the marke
begins to go up, that the recovery viii
be very rapid, and want to get in at tn
u bottom figures. The house quoted repre-
g sents large class of wealthy customers
n who speculate only upon extreme limits.
;, twenty-five memcers of the distinguish
y ed European Party, who are 10 accompap,
Rufus Hatch, of New York, on his trip t.
I Yellowstone Park, visited the wards O
Il oT-