Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1889-05-19
WALL STREET WILD.
The Rise in 0regon-T ranscontinental Ad-
vances Almost Every Other Stock.

NEW YORK, May 18-AIthough the
stock exchange was open only two hours
today those hours were sensational enough
to satisfy every broker on the floor. The
corner on Oregon ranscontinental was
/ still in force and in the first hour the
stock moved up 20 per cent to 55. There
was a food Of stock offered at that figure
and the price dropped per cent at a time
to 40; it later sold at 80, but there was a
demand for many thousand shares at that
figure and it quickly moved back to 43 and
! at the close sold at AZ.
SHORT interest in Oregon-Transconti-
mental made tie brokers anxious
about their short account in other
stocks, and fears were everywhere
expressed that the entire market was heay-
lily over sold. The feeling was increased
by the course of st. Paul preferred which
advanced 5 per cent on an attempt to COW
er some short stock. The buying fever
extended to Atchison and the effort to
cover shorts in that stock caused it to
advance sharply. Burlington moved up 2
per cent and Rock Island followed. The
entire bear contingent left the street anX-
ious about the future and they wait for
Mondays opening with fear and trem-
bling
At Mr. Wizards office everything APP
peared to lie quiet and in marked contrast
to the excitement at the stock exchange.
Mr.. Willard was not down and was ap-
parently ignorant of all that was going on.
His private secretary received all callers
officially and explained that the excite
ment ION stock exchange was Ia matter
with which Mr. Willard had nothing to do.
He said that the fight for the
control of stock at the election
is over and Mr.. Willard has POI, 200 shares
out of the total of 100000. He added that
there will be nothing new in the affairs of
the company until the election at Port
land, Ore, in June.
The other party. to which belong Elijah
Smith, Sidney Dillon, Frederick l.. Ames
and other well known men, claim that
they held majority of the stock and that
Mr.. Willard could not possibly vote 200
shares, unless he has issued some of the
remaining 100000 900 OF the TranscOnti-
mental stock in spite of that injunction
issued restraining such proceeding.
The opposition issued a joint call for
proxies this morning and stated their pol
icy to be in favor of an amicable arrange
ment with the Northern Pacific, the ST.
Paul, Minneapolis & Manitoba and the
Union Pacific, including its connecting
line, the Oregon Railroad and Navigation
company. The call for proxies is signed
by Frederick Dillon, Elijah Smith, John
Ii. Hall and Samuel Thomas.
The Evening Post SAYS the corner was
undoubtedly brought about unintentional-
ly. Previously the contest for control of
the property is responsible for it. Many
of the biggest houses in the street thought
that in the buying for control the prices
would fall back and they considered that
selling it for delivery after the closing of
the books was a safe speculation. This is
what they did and they now find that all
the floating stock has been bOupht for
election purposes and that the owners of
it do not intend to part with it at present.
The shorts have in fact cornered them
selves