Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-08-16
THE FURRY OVER.
A Better FeeiIng Prevailing on Wall
Street, and the Market Again
Tending Upward.
The General Sentiment One Of Conf.
defee-Another Big Day On the
Stock Exchange.

NEW YORK, August 15.-Brokers who live
cut Of town, as most brokers do at this time
OF the year, took the early trsius to the city
this morning, and Wall street was alive lorg
before the usual hour for beginning business.
In the Windsor Hotel last evening there was
talk about another serious break in the mar
ket this morning Such rumors made brokers
anxious 10 be 90 the spot TO look after their
own and their cuItomers' interestp.
Hundreds of Wall street men away on
vacation were summoned back by tels-
graph last eveniny, and at 10 O'Clock
this morning the neighborhcod Of the Stock
Exchange presented strange appearance
for the middle of August. There were
groups OF well-known brokers in every Office
window, aud messenger boys were actually
running two hours before business began on
the floor of the Stock Exchange. The visi-
tors galleries were crowded with persons who
came TO see d wild scene and were dIsap
pointed. There WIS spsarently
A RESTORATION OF CONFIDENCE
10 very considerably extent in The stock
market in the forenoon. The difquieling
rumors that were circulated last night, sll
proved 10 be without foundation. The mar
ket opened to pr Cent. higher, the latter
far Canada Southern, and continued alter
nately strong and steady throughout the
f,rsnoop, f the net result of the trading sup
to 1890 o'clock being an advance OF I TO 81
per cent. on the general list of active stocks
over the closing last night, the lsIgest
extreme advances being Oregon and Trans
continental, par cent; Northern Pacific,
"a on 10th common and preferred; Erie, "a
Central Pacific, 24; Burlington and Quincy,
2; Wabash, l3@ls; Canada Southern and
Illinois Central, Il; st. Paul, Is; Denver,
Union Pacific and JeIs.y Central, IL; Lack
a I'M I ~.
Louisville and Nashville, Ii; Kansas and
Texas, ]. and Canada Pacific, Reading and
Texas Pacific each. l. From ihese extreme
advances
THERE WAS A REACTION
of 10 per cent. about noon, but this re-
action was again partly recovered by 1890
O'Clock, leaving the net advances for the
forenoon only a little b,ew the extreme ad-
vances above stated. At one time about the
opening Western Union was weak, and de.
clined J per cent. from last nights closing
price, TO 724, but sfterward advanced to
745. This advance of the forenoon wss
made in the face Of heavy sales, operators
buying yesterday finding the temptation to
realize was 10 strong 10 resist. The buoyan-
cy of prices was considered the more remark
able ou this account. The weakness 10 West
ern Union was attributed to the operators
strike aud the consequent loss OF business, to-
gether with a prospective competition in
telegrapby. Sales up 10 1890 O'Clock were
about $50 900 shares. After 1890 O'Clock
the mark=t was at fret very strong, and there
was
FURTHER ADVANCE
| of / 10 2 per cent, the latter on Northern
Pacific common and preferred, TO 42a and
S2l, bat after l o'clock on thu announcemeI
of the failure of Z. G. S,edm an & Co =, there
was rssction Of / to j s per cent. the latter
on Oregon and Transcontinental, to 63s
Northern P.cific common also lost its entire
advance of 2 per cent; the decline on Other
stocks were ! to ] per cent. the latter or
Norlhern Pacific preferred. 10 Sls, with 1t on
Wabash preferred, 10 9S3; l on North.
western 10 123; ! on Lackawauns, to
1918, and Union Pacific to So; on New
York Central TO 115}, Missouri Pacific to
95, jersey Central 10 S3, and Omaha to 401
In the last hour the market was generally
lower, the decline being 4@1s per cent, the
latter on Western Union to 72s, with irac.
tional declines on the remainder Of the list
In the tinal dealings
THE MARKET WAS STRONG,
and there was a general advance more than
recovering decline, and ID aking the highest
prices of The day. The result of the days
bu sinefs was a general advance over the
closing prices Of last night, ranging from J to
81 per cent, the latter on Oregon and Trsus
continental, with q per cent. on Northern
Pacific common and on preferred, Bur-
liDg,on and Quiucy II per cent, Can
ads Southern II, Central Pacific
1l,Lackswanna and Erie J, kansas and Tex
/, New Jersey Central and N,rihwestern l,
Rock Island q. 81. Paul II. Omsha prefer.
red 2, Texas and Pacific II. Union Psci6c
and Wabash prsferfed /, and Oregon Im.
provement par cent.
London was a free buyer in our market to-
DAY, and S. Pau, Lake Shore, New York
Central, Denver, Etie aud Wabash preferred
vsre lel for that account. GCvernmen
bonds wtre firm, railways steady and lStsts
securities dull.
Transactions aggreyaied 442 600 sh ares Al