Daily globe., 1883-08-17
The Stock Market Returning to It's
Usual Condition.
A STEADY INCREASE IN VALUES.
Oregon and Northern Pacific Leading
the Advance.
HE ENTIRE LIST GROWING FIRM.
A Rather Dull Day in Grain and Pro.
visions at Chicago.
NEW YORK.
Especial Telegram to the Globe. |


NEW YORK, Aug. 16.-On the stock ex-
change to-day the market opened very
strong in everything but Western Union.
In some cases stocks were one point above
last nights closing, and the expectation
of higher prices was general, but before
the end of the first hour it became evident
that something affected prices unfavor-
ably. Western Union began to decline on
heavy sales and the rest of the list
became dull and passively weak. 1t was
said by some who are pretty close to Gould
that he sold Western Union in order to
buy other stocks. At all events Western
Union alone showed any considerable de-
cline, the remainder of the list being quite
steady. A first rate authority says that
all the talk about any confer
ence between Gould and Willard
pure fabrication. There is no
business relations between them of
any kind. Owing to large Withdrawals
from the street of Northern Pacific pre-
ferred the short interest in stock has been
made to appear large. The short interest
continues large in New York Central and
New Jersey Central, 1t is small in every
thing else, although there was some short
selling on the higher prices yesterday and
to-day.
No action was taken on dividend by the
Northern Pacific directors to-day. It is
believed by some who are in position to
guess judicially that dividend will be
maid hafora Jauuarv first Davt
After noon the market gained slowly,
even Western Union raIlying, and closed
considerably above last nights closing
figures. The outlook is for still further
gains.
Boody said: "The market for stocks dis
plays considerable strength. A feature
in the early dealings was sharp advance
on the Northern Pacific. Later
Wooerishoffer & Co. were credited with
selling Western Union telegraph in large
amounts, and for time the feeling was
little feverish. When they finished rallies
followed, and there was good demand for
stocks up to the end. The Generalization
of late has been so complete that one who
prophesies more than twenty -four hours
advance is looked upon as reckless. AS we
have had a decline for over ten years a.
weeks improvement ought not to be un-
reasonable. Jersey Central, though dull,
shows that the bears have oversold it, and
1-6 was paid for its use to-day. New
York Central was also in demand. The
earnings for the past year, ending June,
increased $4,37O,OOO. Before week
elapses rate cutting between this city and
and st. Louis will cease. At the last the
feeling in Wall street was quite buoyant.
Day & Field say the market has been very
much quieter to-day, and at times dull.
For the first hour the market was firm.
assured dividend stocks being in good de-
mand, Oregon and Northern Pacific sell
ing up sharply. White was a buyer of
st. Paul. Stocks we're not in good sup
ply, and the other side of the story began
to be told. 1t was easier to sell than to
buy. The feature from this time until the
close was Western Union. Opening at
1914 it went to IA and then became very
active and sold down with large transac-
tions to II g. This was accompanied by
different rumors. 1t was announced that
holders had taken fright on account of
Gen. Eckert's peremptory manner to.
wards the strikers yesterday rnd another
that Gould was cunning for CornelPs
stock. When deliveries on sales which had
been made for the past two days by lead
ing room bears were made in brand new
certificates signed by Mr.. Gould and dated
to-day, the street were more puzzled
than ever. If it was intended to cause
the belief that Gould was overlooking i
was hardly successful and certainly was
reckoning upon the brokers being pos
sessed of very little acumen. Considerable
interest centered on the NorthernI Pacifcs
Under strong offering they were feverisl
and inclined to sell off, pending the de
cision of the directors meeting as soon a
it was ascertained that they had adjourned
without declaring a dividend both stock
ran up sharply. During the afternoon
Wabash was very strong in tone.
Herman says Texas Pacific is going up
and that Northern Pacific people say they
have the backing of the ssRothschilds, whC
buy every time the stock raided. The,
snap their fingers at the bears. Denver TO
the last week in August increased in earn
ings $17, 700, Union Pacific for fourteen
days. decreased $121,OOO. The marke
closed strong, especially in Omaha pre-
ferred, Canadian Pacific and st. Paul
The Northern Pacific directors adjourned
without date.