New-York tribune., 1884-01-25
Ups and D0UNS or WALL STREET

WILLARD STOCKS ADVANCING-A BREAK IN JERSEY
CESTRAL-HEAYY TRANSACTIONS IN WEST
SHORE BONDS
The Northern Pacific securities, which de-
elined In a marked Wednesday, were the first
70 advance yesterday The preferred stock quickly rose
nearly three per cent leading the upward movement
There was a sharp break however, in the price OF
Jersey Central stock in the afternoon from s7s to s3
but IN the later dealings the stock rallied 10 s6ls The
recorded transactions amounted to little over 5000
shares At the same time Reading stock, which had ad
vaneed slightly from the opening, fell from 53sto 6l2
but It closed unchanged from the previous day at
S9lo The fluctuations in these stocks which have been
closely allied since the lease OF the Jersey Central to the
Reading attracted guild interest in Wall Street The
declines productive of except one that the
Reading had not yet negotiated the proposed col
lateral trust mortgage, In which 1t Included the
Jersey Central stock that 1t bought to secure
control Of tho property The adjourned meeting
OF the stockholders Of the Reading Company to vote on the
question of dividends not been hedand auhorita
tive statements In regard to their probable acton have
been made public.
There was renewed activity in NewYork, West Shore
and Buffalo So Yesterday. The transactions
rhioh amounted to over $6,100,O00. have
days or this amount over four millions were dealt in
before noon Opening at So the bonds rapidly declined
TO b0s from this point steadily advanced to 52s at
the close, against 52l2 yesterday Inc nnctual0ns %
rand. A meeting Of the directors Of the COM
pany has been called for to-day, Then PlSn an nor I0r
posed Meetings OF the MANAGERS of the allied companies
nave been held recently but at their offices IL has been
etaed that nothing has yet been accomplished II has
been proposed among other things, TO place mortgage
OF about So 100000 on the property OF the NewYoIk
Ontario and Western Railway which ID controlled IN the
interest of the West Shore Company.
At the Windsor Hotel last evening few brokers were
present and the chat and gossip dd not touch on west
Shore bonds or Jersey central STOCK except Where re-
marks called forth by inquiries Onterested persons
The general opinion was that the renewed activity IN the
bonds was speculative in character and not based
On any facts regarding the condition OF the
companies IL reported that director OF the West
Shore had said that It's nancai plans had Dee uatuied
and ali the money needed byit raised but II Is under
stood that this is premature person we'll Informed as
70 the situation said that the sales yesterday were made
by prominent operator who has had connection with
The company, but who was bear down to 30, and
then became purchaser. The bonds have since risen
TO SO. and IT suggested that he had realized MS
profits and seeking to depress the price in order to
make fresh purchases
Construction Company said in the evening that he knew
no for the activity In the West Shore bonds He
Rscrbed IL solely Wall Street trading There had been
no change IN the situation no action by the company OF
Its allies nothing whatever during the week TO cause
special movement. BE had been told that wild rumors
OF receivership for West Shore had been circulated
when blocks Of the bonds being thrown upon the
market but there no more truth In the reports than
there had been for the last three months.
The break in Central OF NewJersey stock ascTbed
Tor an advance but by traders whose interests
Eentfed with the @bear" sldo The preponderance OF
opinion that 1t assault carried out for the
purpose Of affecting the remainder OF the market SO hat
"short sales could be covered and "lOng stock BOUGHT
et prices lower than those prevailing before the break
There IA surprise that the stock was not better
SaoteC'eo Dy INC lseuiiE inasctr' wiz, ~ 10 49,,
proposed issue Of collateral trust bonds secured by the
N the afternoon OF reports from Philadelphia TO the effect
that the Dsmore suit would be decided in favor OF the
plaintiff who is asking that the lease OF Jersey Central 10
The Reading be annuled No confirmation of these re-
ports could be obtained.