The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1883-10-26
WIZARDS TURN.
THE BULLS GET THE BEARS IN A TIGHT
CORNER.
Willard stock. Make Strong Advance.


NEW YORK, October 20.-The theory that !
those who purchased preferred stock for vot- |
ing purposes In connection with the pro-
posed issue Of second mortgage bonds would |
sell some Immediately after the closing Of
the transfer books was entirely at fault. The
Willard party, which includes several prom
inent banking houses, have determined to
put stop TO bear raids upon their specialties
and to-day's movement in Northern Pacific
preferred Is advanced as conclusive evidence
thereof. Owing to the great excitement at
tending the Northern Pacific fight, rise in
other movements was lost sight of. The
general market was irregular drought the
day. The pressure to sell was not severe,
but the market lacked support in the early
hours. The opening figures were about TO
4 per cent. below last nights closing. From
the first sales prices yielded until decline
of to IL per cent. was secured. The weak
spots were Western Uuion, st. Paul, Missouri
Pacific, and Denver Rio Grande. New
York Central was rather firm. Later in the
day the market improved in sympathy with
Northern Pacific preferred. Many shorts
were covered in other stocks, fearing q
squeeze. The advance ranged from l to Il
per cent. In the final dealings the market
was again advanced. Northern Pacific pre-
ferred closed at IT. per cent. higher-75s
cash.
The Commercial Advertiser says During
the last hour the most intense excitement
prevailed on the Stock Exchange in conse-
queRce of the transactions In Northern Pa
cifc preferred. Thousands of shares that
had been sold could not be delivered end
| brokers were compelled TO have their stock
| bought in at the Board. Naturally the high
| 81 Of ninp w pmandph
| loss fails upon customers of course. Ifthey
can't stand 1t the brokers must. The highest
price for stock was 7S3 cash, against "a for
the regular way, or premium OF 49, per
cent. 1t was expected that many Of the
houses could not stand the twisting, but up
TO the last moment no failure has been re-
ported. To-day capped the climax when
| Northern Pacific preferred loaned at 81 per
cent, and considerable surprise was ex-
pressed. The short interest was known to
be very heavy, and the stock necessarily as
scarce. What added TO the particular value
of 1t to-day was that the transfer books were
to close this afternoon.
| NEW YORK, Oct. 22.-Stocks opened "a
per cent. lower for the Northern Pacific pre-
ferred, and the remainder of the list a0l
higher. The leading bears offered round
amounts for preferred, hence the weakness.
1t soon became known the shorts were very
little II any better of than they were Satur-
day, as cash stock of the Northern Pacific
preferred was worth to q more than the
regular. Rumors Of squeeze in other stocks
led to heavy buying and prices moved up
to per cent. Wizards Union Pacific and
Northwestern are the strongest stocks.
New YORK, October 22.-From the Post,
one O'Clock: II was apparent at the opening
this morning that, notwithstanding settles
ment, q considerable portion Of the short In.
terest in Nothern Pacific preferred was in
open market Saturday, besides a large
amount believed TO have been settled pri
vately, ten thousand shares by one party
there was still sufficient short interest 70
make considerable excitement. Northern
Pacific preferred opened at 60, or p per cent
lower for regular sales than 1t closed Satur-
day. but after some fluctuations In the fore
noon, finally advanced by 2:30 to 10 for reg
ular sales and 72a cash, the advance ia the
forenoon being l03 per cent. During the
san e time there was also large advance In
all other Northern Pacific stocks. The com
mon advanced from 29s at ten to 81 by 1896
o'clock. In the same time Oregon Railway
Navigation advanced from 1861 to ITO. Or
egon Transcontinental also advanced from
81 to 46!. Between 1920 and 1890 there
was sharp decline of per cent. in North
ern Pacific preferred to GO, Immediately u
sold at 67b regular and 90 cash. In ten min
utes Northern Pacific common declined from
81 to 29a. Oregon and Transcontinental 2,
to Az. Other stocks declined fraction o.
hto5. The excitement and great fuctua
, tons rs well as the greatest advance was II
Northern Pacific. Other stocks in the list
however. have all fallen, which effects
; complete change in tone of speculation. A
4 Oh al. 81
. change subsidized. Prices reached ! to pc
in Wizards. Northern Pacific common sole
down to 20, preferred to 64s, Oregon Trans
continental to AL. and Oregon Navigation
to 10S.
Near O'Clock a weaker feeling prevailed
The bears made the first attack and Oregon
| TraDscontiuental WAS forced down to 42a
Northern PaciSc to 27a, Preferred TO 6l
Western Union to 75tt, and Union Pacific u
S7I. The market weak.
p. m.: Central Pacific GSs, Burlington
23s, Northern Pacific, 2St, Northwestern
20S, New York Central 15S, Pacific Mail SO
Panama 90. St. Louis and San Francisco %
Wabash lSs, Texas Pacific 81, Union Pacific
SSss. Wells Fargo Is, Western Union 769.
There was q private settlement IN the
Northern Pacific to day. A pool of 500
| oudicS phiu pei Ccib W tnc ict oh' hooh
traders losses are estimated at $500, 600
Wizards friends claim he has 245, 600 shares
of Northern Pacific preferred in his box
President Willard said this afternoon, 81 an
} not prepared to say whether the three
, fourths of the preferred stock has been Sc
, cured In the new issue of books. have no
examined the transfer books"
NEW YORK, Oct. 22.-There Is now \ reg
) ular bear panic. Dealings are attendsn
with great excitement. Since noon tn,
, market has doomed with more rapid advanc'
Ia prices than at any previous time durinl
: the day, the great feature being Oregon
Transcontinental. which, on enormous deal
ings, rose from All to 400. 1t is CURRENT!
reported that prominent operators are selling
. Northern Pacific and buying Oregon Trans
continental. The latter stock is in position
3 TO be cornered, owing to the heavy outstand
ing short interest. The Northern Pacii
jumped to 31a and preferred to 72l cash ant
D 10 regular. Oregon Navigation is up Sl.l0
! New York Central is S1.16, and Union Il
500.
ii