National Republican., 1883-10-25
THE MARKETS.
The Opening on Wall Street Yesterday Excited
and Higher
willard stocks the Weakest Feature OF
the Board.
GOSSIP.
SDectal Dispatch.

NEW York, Oct. GA further advance
in Michigan Central is generally expected
this morning, and this stock is expected to
rule higher because it has lately been rela-
lively lower than Lake Shore and other Van
dcrbilts which yesterday showed such
strength. The advance yesterday in Michigan
Central was mainly due to shorts covering,
and the execution of stop orders. CammaclS
said he covered his Michigan at SO b. g.
Perceiving the stock was cornered, a promi-
nent broker identified with Vanderbits trad
ing, said last night that he was buying Michi-
gan, and in the SOS it was like picking
up gold dollars in the street and predicted
that the next stocks to advance would BIO
Lake Shore, Northwest, and ST. Paul, and he
believed Jersey Central and Reading were
good buys and would go up soon. Sage said
that the speculation will have two sides to it,
and he is sure Of higher prices. Gould tells
his friends that he is very largely long of tho
market, but he is not buying any more
because he don't care to borrow
funds, and intends to pursue very
conservative course in this respect Woeris-
hoefler says the market never was better
sale than now, but he thinks Michigan Cen
trail represents only u small capital and may
be forced higher. Smith says he doesn't
think the upward turn will last longer than
IL o'clock this morning. The advance caused
by the corner in Northern Pacific preferred
was an accident. 1t is reported that the
Manitoba Railroad company propose building
down into the Milwaukee and ST. Paul terri
tory next spring.
1t is reported in the board that Vanderbilt
has ordered his brokers to lend none of his
stock in tho street. New York Central
lending for 1-16; jersey 1-6i; Northern Pa
cifc common, fiat to 164; Northern Pacific
preferred offered for !; Michigan Central, 1882
20 1-IR T,, Il II n
and Post & Wells were sellers, Lee Ryan
bought $500.
In Lake Shore Brandon, Lapsley & Walsh
bought, and Campbell & Haight sold.
In Western Union Brayton Ives and Joseph
Boyd were sellers
Oregon Transcontinental. Chicago dispatches
report the grain market steady.
Mr.. Dinsmore, of the Adams Express COM
pany, tells his friends that the Pennsylvania
Central is going to cut rates.
WALL STREET.
Brokers report increased outside buying
orders, but room traders have realized con-
siderably. This caused a reaction. Bell and
iJohnes sold heavily. and 1t Is understood
Johnes sold 5000 shares. Joseph NJ. George
!sold 1000 Missouri Pacific and Amory bought.
tMcKinZy sold Lake Shore. Drummond, Slay-
back, and Robinson bought. Governments
firm Money, 81 to 4.
|, Oregon Transcontinental has been sold on
rumors of an injunction restraining Northern
Pacific second mortgage bond issue. Stow
sold st. Paul freely. The largest buyers were
Pearl & Co. 1t is understood that the
Woerishoedor party has been covering. The
largest seller of Michigan Central was Ewing,
{ and the buyer Eames.
! The points are distributed that Jersey will
| be made very scarce tomorrow.
Oregon Transcontinental is being bought
mainly by the room traders. Tho principal
sellers have been Henri Bros. Willard bought
| most of the Western Union, and it is under
stood that Cammack has covered his Della
!, ware and Lackawanna shorts. Mr.. Morgan
was not short Three suits were brought
to-day against the Northern Pacific Railroad
company in New York to restrain tho second
mortgage, and two of the suits are to be heard
to-day. alr 1885 1uah',I
Desmaret & Co.. limited concern, has
failed. They are largely short of st. Paul
and Northwestern.
The chairman of the stock exchange is
buying in stocks under rule for Desmaret
Brandon is buying Lake Shore to 99s.
REVIEW.
The market opened excited higher, and
frequent, with wide fluctuations and in the
first few minutes the active shares advanced
! to IL over closing But during the rest of
the morning prices slowly declined, the
"a weakest features being the Wizards. There
was o rally in Northern Pacific and Oregon
Transcontinental just before 12 noon from the
extreme decline, which caused the market to
sympathize, and at that hour the majority of
stocks were to II above Tuesdays closing.
Missouri Pacific showed d rise of per cent.
On rumors of an injunction restraining
Northern Pacific road second mortgage
bond issue there were big trades
in Oregon .Transcontinental. Later Stow
sold stock largely. An injunction restraining
the issue of Northern Pacific second mort
gage bonds was granted to-day on the appli-
cation of III. II. Anderson, of 35 Wall street.
Money sitter at A. Governments firm, and
foreign exchange weak.
Between IL and 2 o'clock the tendency, af-
ter some hesitation, was upward-Lacka-
wanna in the lead and Michigan Central 81
higher. The room traders bought freely of
Oregon Transcontinental Willard bought
10000 shares of Lackawanna and it is under
stood, Cammack covered his shorts in this
stock After 2 p. IN. the market was
strong, and Michigan Central rose 94s
and Lake Shore to par The suspen-
sion of Desmaret, q small trader was
announced, and u few stocks bought i'll under
the rule. The market closed at top notch on
the active stocks, with very strong under
tone
LONDON. 12:3O,-Erie, higher; New York
Central, higher; Illinois, higher; Reading,
higher. st. Paul, higher; Pennsylvania
Central, lower
STOCKS
The following are the opening, highest,
lowest, and closing prices of the principai
stocks for the day, as corrected by special wire
reports received by Bateman q Co., bankers
No. 1411 + street northwest: