National Republican., 1882-12-29
THE MARKETS.
The Big Operators Now Well Out Of Business
in Wall Street
A General Tendency Toward Weakness
1'he stock Lists,
THE DAY IN WALL STREET.
EnecinL DLsnnLch-

Special Dispatch.
NEW YORK, Doc. 2S.-Stocks opened a shade
easier and fractionally below the closing prices
Of yesterday. During the first hour business
was on a break down in Chicago, Burlington
and Quincy which later extended to Illinois
Central, and finally the entire list yielded in
sympathy. st. Paul and Northwest fell II.
After noon there was trifling rally in Chi
cago, Burlington and Quincy and Illinois Cen
trail and the remainder of the list strengthened
on n very dull m;,rket. Brokers said the
furry in the morning was mainly due to the
flounderng of Keene, who was determined to
keep his puts OF until after New Years.
There was little increase in the demand
for stocks to borrow but money was quoted at
6to7.
Exchange was dull, and no buyers.
Judge ArnouX to-day denied the motion of
Reiti' and others to restrain the Western Union
company from issuing fifteen million bonds to
retire fifteen millions of alleged illegal stock.
Early in the last hour the market was dull
and stagnant Money was tight and loaning
up to s. The market closed fairly firm with
little doing. The short interest has been re-
newed to some extent the last two or three
days. II is only Il brokers' market, and they
change from one side to the other SO fast that
it takes an active mind to follow them.
The Illinois Central directors are consider
ing the recommendation of foreign bond
holders to increase tho capital stotk but it is
believed this will not he DONE
The market is neglected by the big men,
except Keene, who is selling. Vanderbilt is
going away soon, and some think he has been
a quiet seller There's not much encourage
ment to buy stocks.
One reason given for the decline in Chicago,
Burlington, and Quincy is the announcement
that the Hannibal and St. Joseph broke
ground to-day for a parallel line to Chicago
from Quincy. A Boston dispatch says: "The
Chicago, Burlington, and Quincy during the
past year increased its stock over So, 900 900,
and this company has been operating the Dem
yer extension since July last, which added
over 100000 to the road. The gross earn
ings so far are $25o,000 less than last year"
Another reason for the break in Chicago, Bur-
lington and Quincy is the report that this
company will lease the Denver New Utah ex-
tension when completed to Salt Lake next
month. II is argued that this will be good
for tle Denver and Rio Grande, but bad for
Chicago, Burlington and Quincy. Stocks
generally have a confident undertone.
Indications point strongly to the close of
the Reading receivership in January.
Stocks were loaning at 6, except Denver
and Rio Grande and Union Pacific, which are
at 3. Keene is still borrowing stocks and
Osborn is lender. Keene's brokers sold
$500 of Delaware and Lackawanna and also
sold st. Paul. 1t is autboritatively stated
4. Tt 81
matters will be settled by the filing of bond
which will cover all possible damages to the
plaintiff in the suit against the company.
Mr.. Gowen has received all the Vanderbilt
proxies on Reading, and says the road never
did better business than now. Mr.. Gowon
says Reading and Jersey Central will be out
of the receivers hands early in the new year.
Mr.. Vanderbilt sails for Havana on the 9th.
President Green, of the Western Union,
says the Hatch injunction decision against
the old consolidation with American Union
and Atlantic and Pacific telegraph companies
is not OF the slightest importance as the ab-
sorptiOn has long ago taken place. Before the
next dividend day Mr.. Green hopes the
matter will be settled by the supreme court,
and he says the company would not be dam
aged by any of these suits. He has great
faith in a favorable decision, and believes the
general term will be overruled.
The Lake Shore report to the New York
state authorities show earnings only $17,370,-
600; total charges, $1s,1io,00O, and surplus,
100000.
From this it appears tue profits of the road
were made outside of the state of New York.
STOCKS.
The following arc 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. Corcoran building: