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


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 a decline of 19
since January 1. In 1882 it sold as low as
60. The Northern Pacifics 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. break in it would prove very demor-
alizing to the balance. Chicago & Alton
was exceptionally strong, being quoted
at 136. Pullman sold at 12815 and 129.
Texas Pacific was down to 30 at the last.
Cleveland, Columbus, Cincinnati & Indian
apolis touched IS, as against 20 last even
ing. The feeling at the finish was very
unsettled. Missouri Pacific earnings dur
ing the fourth week of July decreased
$6S,00o, Wabash $1O1,OOO, Missouri, Kan
sas and Texas increased $4,000, and Tex
as Pacific $4,000.
The opening was weak and TIE market
soon became very feverish, with tendens
cy to decline on reports of trouble in the
dry goo6s 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 we're 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 better demand
for five and six months business paper.
The refusal of the railroad operators to go
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 ~ 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
of the banks could not be verified. The
report is rumored to have originated in
the expiration of a time loan for three mil
tion dollars held by one of the principal
! banks, in Mr.. Gould's name. The time
! expiring the bank, it is said, declined to
renew the loan. This fact signifies little,
as loans are constantly being transferred.
| The bank, according to the report, held as
collateral against the loan stocks and
bonds in Missouri Pacific, Western Union
and Texas Pacific. The report created no
excitement among speculators, and the
fact of the loan being discontinued, even
if true, was considered a matter of
every day occurrence. At Mr.. Gould's
Office the report was denied and pronounc-
ed story, circulated by the bears to affect
the market.
The Post says there is nothing in the
general state of trade or finances in the
country at large to cause any considera-
BILE decline in prices of either securities or
comm odities. The Graphic says, it is no.
ticed while the bears have been able to
raid the fancy stocks, the dividend paying
securities have remained firm, which is
marked as showing that the buying by in
vestors at the low prices prevailing con-
tinues. The managing partner of a large
commission house, states that he has re-
ceived within the past two weeks over
four million dollars of money to be used
in the purchase of stocks, when the Gus
toners who have sent it, see signs of a
| turn. They believe that when the market
begins to go up, that the recovery will
be very rapid, and want to get in at the
| bottom figures The house quoted repre-
sents large class of wealthy customers,
who speculate only upon extreme limits.
twenty-five memcers of the distinguish
ed European PARTY, who are 10 accompany
Rufus Hatch, of New York, or his trip to
Yellowstone Park, visited the wards of
! Blackwell Island yesterday, as also Long
Branch and Coney Island.