National Republican., 1883-07-12
THE MARKETS.
A Very Weak Feeling and Consequent
Decline in Stocks
The Condition OF the Crops in tho West
and Nortlyvost-The Grain Trade.
A DAYS GOSSIP.
SPECIAL Dispnich.

New YoRK July 1.-THE main talk on
the market after closing was bearish, and the
impression prevailed that the bears would
get prices lower this morning. 1t is said that
Woerishoefler and Connor were the largest
sellers yesterday, assisted by the room
traders, who are all bears, and also a little
inside running by one of the bull party.
Tho Mills party were reported US slippi ng
away from their Louisville but the story of
their selling Northern Pacific or Oregon
Transcontinental was fatty denied. Some
brokers thought Connor and WoershoelIer
bought in some stocks, just before closing, to
throw upon the market this morning for
decline. The bears declare that the
general list is good for to 4
points decline, and claim that Vanderbilts
support has been withdra En from the present
market. Morgan and mith talk bullish, and
say there is no foundat ion for the story Of
great damage to northwestern crops.
Private advices assert that there has been
great damage from drought to crops in the
Red River valley and in Dakota. Mr.. Slater,
director in the Illinois Central railway
says his advices state that an enormous corn
crop will bo harvested along the line of that
road
Vermilye sold New York Central Enos
bought; Drummond and Johnes bought Lake
Shore Johnes also bought st Paul. $. V.
White bought Reading. The buying of Lack
awanna was scattering.
Bets were made in the room this morning
that New York Central would sell at 1O5 this
year.
There are rumors of cut rates by the New
York Central to stop traffic by the West Shore
road. but the rumors are denied by the New
York Central people.
The Illinois Central earnings for June show
Chicago dispatch reports that Stiles,
Goldly & McMann, q small provision firm, are
closing up deals.
Rains are needed in the extreme northwest
LindblOm, of Chicago, telegraphs that it is
safe to predict that the spring wheat crop will
be fully 400,00O,000 Our state Illinois) de-
partmcnt estimates our crop about 100000
while Washington estimates the state at 35,-
100000.
Brown Brothers reduced sterling to ass to
81. -
1t is stated that if the secretary Of the treas
ury was satisfied that pensions would not suf-
fer, he would issue u bond call at once.
The brokers report better buying Of Van
derbilt stock this afternoon. Freeman
bought Lake Shore, Eugene Thompson
bought New York Central, and Harry
Leavitt bought St. Paul.
REVIEW.
Stocks opened ftful and feverish. The
weak features were Lackawanna, Texas
Pacific, Erie, and Northern Pacific. New'
York Central was sold down by the bears
and Jersey was hammered to Sc, but subse-
quently rallied. Western Union declined
upon reports that the operators would strike
next week, but this rumor was afterward
denied. Prince and Whitley were large
sellers of telegraph, said to have been long
stock, and Osborn & Co., also Drake Bros.
sold this stock.
Vermilye Il Co. sold great deal of New
York Central and II. X. Enos q Co. covered
shorts in it to a large amount.
1t is reported that the Now York Central
had ordered rates cut with West Shore and
brokers in board offered bets that the New
York Central would sell at 105 before snow
flies again. 5sa
The general market was at about the lowest
ebb at noon, and at / o'clock there was u
rally of to per cent.
Stocks generally lent at 2, money at a.
Jersey Central lent for l-32 and later at 81 and
New York Central fiat.
Governments were dull, awaiting the gov
ernment call.
On the second call the market was generally
dull and quiet but shade frmer under the
leadership of New York Central. Money was
very plentiful ut 2.
Eugene Thompson & Co. bought New York
Central, and there appeared to be trihe
more support on the Vanderbilts. Early in
the last hour prices were generally the lowest
of the day. New York Central was selling
mt III.
Tho bears were offering the stock at seller
60 to 115i.
At 2:30 there was slight rally caused by
shorts covering, but the advance did not hold
and stocks closed weak and irregular at about
the days lowest prices.
LONDON, 12:30.-New York Central, !
lower; Illinois Central, lower; Reading,
lower; st. Paul, lower.
Special Dispatch.
CHICAGO, July 11.--Wheat active and un-
settled. 1t opened weak. The failure of an
old firm (Stiles, Golden & McNIahan) caused
rush to sell, aud it declined l4c. Later dis
patches from the northwest were unfavorable
and demand to cover shorts rallied prices
to 2ic, and they fluctuated rapidly, finally
closing to &c, lower than yesterday. There
was no shipping demand. July, 9S4c; Au-
gust, $l.00s; September, $1.0ls. Corn was
active, advancing 4 to 4c, and after
ward reacting IA to lac, closing
equally, 3s4; l55 contract; July, 5osc; August,
5Osc September, 50cs. Oats were dull and
lower, July, 34ic August, 2S4c; September,
275c. Pork was unsettled. it opened 10 cents
lower but recovered and closed 10 to 124 cents
higher than yesterday. July, $780, August,
1870; September, $3.50, Lard opened firm
and advanced 10 TO 20 cents, but lost the ad-
vance and closed % to cents lower than
yesterday. July, $s,624; August, $50; Sep
tcmbef;; $3.50. Short ribs were 10 to 20 cents
higher, August, S7.20; September, S7,25; Octo-
Der, S7.35. Hogs were 10 to 20 cents lower,
quality good.
sToCKs.
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. ll1l f street northwest