National Republican., 1881-08-06
MINING STOCKS.
BANKERS EXCHANGE,


Threc-day bills .....- ass Sixty.day bills ...... Is3
New YORK. Aug. 5-There was more than usual
diversity of opinion expressed In Stock Exchange
circles last night regarding the course of specula
tion for the next few days. OF the people at the
West End last night Cmmnck and the room
traders, number of whom are stopping ut the
branch, were bearish, aud SO were the Seligmans,
who think that Vanderbilt is bound to keep up the
battle Of rates little longer TO buy stocks on. The
bull party still includes Sage. who says he bought
o great many stocks yesterday, and Woerishoiier
and his Ge[man following The conservatives
argue that the bulls are inviting a short interest
already large, which In itself Is liable at any
moment to turn the current. This party declares
there is strong undertone and SO far the decline
has not been important, because the bears have
not dared 10 press their advantage.
Connor says the market Is not going doyn much,
and said he thought II there was no unexpected
bad news there would be strong and higher mar
ket next week. He was especially bullish on
Western Union and Missouri Pacific for long
pull. The operators who take this view OF the
situation and entertain similar ideas say they are
buying the Vanderbilt. Granger. and coal shares
believing that another rise Is not far off, This
party claims there Is no doubt that the next Lake
Shore dividend will he less than 2per cent, not
withstandug the war Of the trunk lines Many Of
standing Of some sort already existing between the
trunk line presidents. some of whom are already
sick Of the struggle and throw the blame of causing
the war on the Vermont Central and the Grand
Trunk lines. The bears. on the other hand, take
the opposite view Of atnrs. and generally predict
that the policy OF retaining very low freights will
prospects of any harmonious action by the presi-
dents are very doubtful
The Erie Railway is said to have further cut
West bound first class rates cents yesterday
and this cut will be followed by Others to-day The
hears say further that nothing but u dull and
draggy market may be expected until after it Ii
officially announced that harmony has been re-
stored, and even then the chances are three to
that the market Will so down Immediately after
ward.
il Is claimed that Drexel. Morgan Co were the
sellers again yesterday Of New Jersey Ceutral.
u 70 p m.-Private advices from Saratoga this
a. m. are hardly so favorable for settlement OF
the railroad troubles; MI Vanderbilt is said to be
inclined to avoid taking any action, aud Amasa
Stone says the prospects of peace are not bright
One and three quarters per cent is bid in Sara-
toga for the next Lake Shore dividend and the
gossps say Mr.. v had orders In the market to buy
100000 shares Of Lake shore at I2l the day the
President had his relapse and chills
The entire 100000 capital stock Of thenew Van
derblt bank and safety deposit company to be
scribed and is now at premium. The Vanderbilt
people Will be the officers, and the name I" The
Vanderbilt Bank and Deposit Company"
The Wabash earnings for the fourth week In
July were S322 S72; decrease, S4S569 earnings for
the month as reported, including acquired roads
Sl.lsl, ,7Ul.
ncnt banking. house here says that the proposed
settementof the trunk line troubles was all broken
| up To day by the action OF the Boston and Albany
Road and tho latter has reduced first class Chicago
| freghts from Albany to Chicago to q cents per
hundredweight. There will be fresh culting to-
| day on West bound freights, which are already
| much demOralized.
| great damages in Mississippi, Alabama, and
Georgia from heavy rains, which came too late TO
save the corn crop and the latter Is almost total
| failure The storm has lasted forty eight hours
and still continues, and cotton Is greatly damaged
Several wash outs have occurred on the Louisville
| and Nashville Railroad and no trains have been
running in twenty four hours.