National Republican., 1882-12-19
THE MARKETS.
A Decline at the Opening Of Business Followed
by Rise at Noon,
A Railroad War I'm the Far west-The
Stock, Bond, and Provision Markets.
THE DAY IN WALL STREET.
Special Dispatch.

Special Dispatch
New YORK, Dec 1s, 23Op m.-The market
opened lower, with considerable pressure to
sell Denver and Rio GNnde, Western Union,
and Omaha common. The Omaha stocks were
sold by scalpers, who were caught "long and
threw over their stocks. Denver was put
down by reports of a war of rates with Denver
and New Orleans, and Western Union sold
down on threatened litigation in Pennsyl-
vania. The largest sellers of Denver were Ell
lott Johns and other room traders, and Os-
born G. Co. were the prominent buyers.
Scranton & Willard and Work Strong sold
st. Paul, and Osborn bought it.
Scranton g. Willard sold good deal of Della
ware and Lackawanna, and Henry N Smiths,
brokers, were buyers.
The general market was stronger at noon,
and the morning decline was generally recov-
cred.
Sterling exchange dull and nominal.
Stocks loaned 3 to 4. Money, 9 to 8.
Later funds offered down to A.
On the second call stocks were strong but
dull.
Louisville and Nashville and Michigan Cen
tral were especially strong.
1t was reported on good authority that the
Louisville and Nashville new stock had been
sold long in advance of its issue at ~, and the
company are now out of debt.
Early in the last hour the whole market was
strong, but dullish. Some large orders were
in the market to buy Lake Shore at liza.
Later Denver and Omaha common were a
fraction lower and below the opening in the
morning
The drop this morning induced some SELL
ing short by room traders who have been COW
ering this afternoon.
Stocks are mostly held by the large operat-
ors, who are hoping for an outside speculation
to spring up in order to market their holdings.
Keene's brokers are reported to be doing
,othing in the market
1t is estimated that about $50, 900 900 of gov
ernmant bonds have been purchased of late
for thelpurpose of escaping taxation on jan
uary 1. This will help to account for the ex-
traordinary advance in these bonds. After
the tax reports are made these bonds will
again be sold, and will cause lower prices no
doubt.
The 70 ON traders were generally buyers on
this Mornings decline. The reaction they
have been looking for came. We look for a
laIhSU bO-uDITOW. lHo pOSlllOn VI
big bulls has not materially changed. They
were obliged to accumulate more stock than
they wanted early last week, and only took
advantage of the strong market Friday and
Saturday to market their surplus. They are
now in position to again support the market
if its needed.
WALL STREET.
The railroad passenger war in Colorado was
begun by the Denver and Rio Grande, on
Saturday, in competition with the Denver and
New Orleans, and rates are down to 20 cents
against $40, the regular fare to Pueblo.
The Chicago I1i5une to-day says meeting
has been called there tomorrow toagree upon
details for carrying out the Northwestern
agreement made In New York. The Illinois
Central continues to keep up the fight on
Omaha and Sioux City business, and say the
Northwestern must agree to respect Illinois
Central points before they will give up the
battle.
The Philadelphia Record says editorially
that the attorney generals proceedings against
the Western Union Y elegraph company are
wholly futile, as there lis no law to punish q
violation of the state constitution in this re.
spect. In the winter of Ss1 bill, after much
opposition, went througllt he senate to prevent
consolidation of telegraph lines, but it was
defeated in the house on rhe ground that the
proposed legislation was ex poste facto in its
character. Until the legislature provides q
penalty for the violation of state laws actions
against the telegraph companies are but
farcical.
The Omaha railway earnings for the third
week in December decreased $685.
The Northern Pacifcs earnings increased
the second week $92,s3o; increased mileage,
a47 miles.
sTocRs
The following are the opening highest, lowest
and closing prices of the principal stocks for the
day as corrected by special wire reports received
by Bateman & Co., bankers, No. 8'Corcoran build
ing: