Daily globe., 1883-07-30
NEW YORK.
Especial Telegram to the Globe. |

NEW YORK, July 28.-The market for
stocksto-aay has been anything but active,
Prices displayed considerable strength,
however, Northwestern sold at 129; Mani
toba gained about per cent, and Pullman
palace sold at 1872 during the morning.
The bank staten ent gave decrease in
reserve of $249,6 800. 1t had no unfavor-
able effect in prices. After the publica
tion the highest figures for the day we're
made in many instances. Delaware &
Lackawanna showed good deal of firm
ness at the last. The Wabash stocks were
almost lost sight of. The earnings of the
line continue to show falling off from
week to week. Late reports from along
the Manitoba road are very favorable.
The improved outlook csusek the marked
advance in the stock to-day.
Vanderbilts have been rather neglected
and show but little change, there was no
animation in the late dealings and the ex-
change was deserted early.
There is little to be said of the market
save that it was about as dull as it could
possibly be. The market is confined to
the room traders and the professionals and
even they are chary about venturing far
from shore on the sea of speculation.
Early transactions were almost VIII )lly in
small lots. Commission brokers appeared
/ to have ve-y few orders, and traders sat
about the room quite out Of accordance
| with their late habits. The sentiment of
the room was considerably more bUlIish.
| Brokers' who have been talking very
bearish took the ground that the sell
| ling pressure appeared to be over; indica-
tions that the bear clique ha3 covered its
shorts. This being the case it was inferred
that there would be no resistance to an
| advance and perhaps the bear pool might
| have taken some long stock for turn.
| broker who was inside on the decline said:
| prices will 90 lower, but it would not be
surprising if there was quite a reaction
| first. It was necessary 10 give the market
| a rest because the short interest had be-
come SO large as to be troublesome It
would be good thing to make the little
bears cover. They would rud on an advance
Of about two points, and probably 90 long.
all Of which would be very much in our in
terest when We are ready 10 sell the mar
ket again. It is simply d trading market.
When prices are down you can buy for
two or three points rice, and when they are
up you can sell for foar or five points de-
c!iue. Just now the chances favor some
advance. There has been good
buying Of Northerr Pacific, and
the rumoF of new pool IL the
stock finds many believers. The plan is
said to be to effect an important advance,
particularly in the price of Northern Pa
cifo preferred, next month. Tho reports
Of large loans made by peopls ia the
| Northern Pacific interest, is sup posed TO
! be III preparation for bull campaign. 1t
is considered certain that insiders have
lately covered their holdings. The corpor-
! alton is free from any asset or liability of
| q doubtful nature. 1t had assets at the
last report of $I8,Sl4,470 against liGbiIi-
tes OF $I8,5t7, ,207, leaving q balance of
| $267, ,263. There are 100000 shares of
Oregon Transcontinental, which ct II are
worth $30,800,00O. The company has 128,-
535 shares OF Oregon Navigation selling at
137, 151,S00 Northern Pacific preferred
selling at SS and 1922 shares of Nor
thern Pacific common selling at 40 from
which it is evident that the purchase of
Oregon Transcontiuental at II is buying
the above stocks from II to 10 per cent.
below their market price. Operators Ell
ther undervalue Oregon Transcontinental
or are paying TOO much for its equivalent
in Northern Pacific or Oregon navigation.
The managers of Western Union have
been summoned 10 appear III Philadelphi
to answer 10 charges in five suits against
the company for alleged daEages received
through transmission OF messages. The
company is understood to be preparing a
modification of the ordsr requiring mes
sages to be received subject to delay or
waiting.
The MoSipaf, Escnd Issua