National Republican., 1883-06-12
THE MARKETS.
A Moderately Active Day With Varying Prices
in the Stock Exchange.
Encouraging Reports From the Great
Grain FieIds-RaiIroad Runners,
GOSSIP OF THE EXCHANGE.
goerfrI D;soaleb

press report from Lockport, N. Y, predicting
a general war among the trunk lines because
the Vanderbilt roads had made exclusive con-
nections was silly canard and the associated
press had been imposed upon
The report from Philadelphia Saturday of
new coal combination was unfounded.
Some of the stock brokers estimate that about
100000 shares of shorts were covered last
week. The bulls bought about 100000 shares
of various kinds and marketed probably 300,-
600. The average feeling continues bullish
on tho general situation and brokers' report.
Notwithstanding considerable ,realizations
the buying continues excellent, and the tone
is strong.
The Vanderbilt brokers have been buying
Lake Shore for themselves and friends, and
there is an impression that now that Mr.
Vanderbilt has returned the price will jump
few points. Mr.. Vanderbilt arrived per
steamer Brittanic at midnight.
The Mills people declare that Reading is
good for ten points advance in June, and Erie
will fly up when the shorts begin covering.
The foreign bear houses don't pretend to de-
liver their Erie sales, and allege that the
stock is en- route, but Mills denies this, and
says less than 5000 shares have been received
from London in thirty days The largest,
buying of Erie last week came from promi-
nent Broad street house for the account of
capitalists who recently made careful ex-
animation of the property, and they expect to
sell the stock at 30 this summer.
d. o. Mills, director of the Northwestern,
tells his friends that tho capital of this road
will be doubled, and there will be no issue of
new stock until there is o general distribu-
tion, as was the case in Rock Island.
Mr.. Morgan is a firm believer in higher
prices for the coal stocks and st. Paul, but
not In New York Central at present figures,
mn Ia NArth aata hal npNa ahnu Ilal lNa-
lieves that with good crops the st. Paul will
show largely increased earnings, more than
the Northwestern, and that st. Paul will
sell higher than Northwestern within two or
three years. Sage says the market went up
too fast and ought to react. An intimate ac-
fquaintance of Gould,s says he told him FRI
day he had better sell out certain stocks, as
he ethought the market would have a set
back presently, after which it would do to
buy. He said he was personally doing moth
ing in the market.
There are numerous points to buy Pacific
Mail and Texas Pacific, but the brokers who
have taken some of these stocks say the mar
ket is full of long stock, and both are con-
tinually fed by outsiders.
Wprish1ffer declares himself still bearish,
and says time will show that the bulls are
wrong and when they endeavor to realize,
stand from under;" but the most observing
brokers in the room believe that Worry
and others last week.
New York Central and Jersey are lending
fiat; Reading at 1; other stocks 2, which is
the top rate. Money is at 81.
There are good many outside orders to
buy, but the professional traders appear to be
doing nothing.
Heath, Jameson & Fanshame sold New York
Central The buyers were Grovestein and
Pell and Herrick. In Reading the buyers
were Hunting, IL. Leavitt, +. b. Wallace, and
Clews the sellers, Bogert and Colgate The.
principal buyers of telegraph were Broyton,
Ives, and Hotchkiss & Burnham. Thomas
Ryan bought the most New York Central.
The Chicago grain mark ct lis weakertand
lacking outside support. A Chicago telegram
says there have been very general rains since
Saturday, and tho weather is still unsettled
in the northwest, but clear in the southwest.
Temperature, moderate. July corn, lower
July wheat, 4 lower.
Friends of Western Union say its manage
mont propose to take advantage of the recent
amendment adopted by the legislature, under
which the injunction may be evaded restrain
ing the dividend payment.
The Northorn Pacific railway superintend-
ent telegraphs from Portland, Oregon, that
the crops in eastern Washington territory are
unusually favorable throughout In western
Oregon prospects are good for large crop.
Philadelphia sends q rumor that the Penn
sylvania railway will lease the Lehigh Valley
railway, and Baltimore reports that the Balti-
more and Ohio railway people will take the
Ohio and Mississippi railway from tho re-
ceiver Aug. l.
Sterling is steady and dull.
Vanderhof, Morrison & Co., a moderate
Btock concern, failed this afternoon.
Philadelphia kilograms say the president of
the Pennsylvania railway denies the ru-
mored lease of the Lehigh Valley road, and
the story was started to weaken the coal
shares in New York.
LONDON, 12:30.-United States bonds, un-
changed; Erie, I higher; Wabash preferred,
higher; Reading, I higher; Lake Shore, 4
higher; st. Paul, lie lower; Louisville and
Nashville, higher; Ontario and Western,
higher. The market is strong on American
buying.
Special Dispatch.
MILWAUKEE, June 1.-THE annual crop
report of Robert Lndblom & Co., of Chicago,
was completed Saturday and given to the
press yesterday. The review comprises re-
ports from nearly thousand points in lead
ing corn states and gives a comprehensive re-
view Of the corn situation. The condition
of corn is generally very good, and there is a
large increase in the acreage planted this
year especially during the winter
In the wheat states, where thousands of
acres of ruined wheat have been plowed up
1t has been replanted in corn. The warm
weather which set in about May 81 changed
bho VI duullb very unuCu, anu tneTo
is encouraging promise of large yield. In
sections whore, because of poor seed or the
bad condition of ground, corn did not come
up full, the ground has in nearly all cases
been replanted While no estimate aggre-
gate yield of the ten states is attempted, in
creased acreage and a general favorable
stand warrants the belief that the growing
crop will exceed the crops Of 1882 at least 12
per cent.
REVIEW.
NEW YORK, June 1.-THE market opened
irregular. 1t was generally firm, but in some
cases there was decline of per cent
There was reaction of I to A about IL
o'clock, and the speculation was less general
than on Saturday. The large traders were
not doing much up to noon, but there were
numerous outside orders. At | D. M the
market was generally strong, and Reading
rose to 60.
In New York Central the demand was weak.
Sterling was dull and dropping The Bank
of Montreal and tho British Bank reduced
rates to. Brown Bros figures 4s6 TO 4S0I
Stocks loaned; New York Central and Jer-
sey Central fiat, and others at 3. Money was
offered at 2.
On the sec ond call quotations fell to D.
the latter in Reading and Union Pacific, and
the tendency was rather downward on light
trading,
The failure later of a small commission
house this afternoon unsettled matters some
what and few stocks were sold and bought
in under the rule" for Vanderhoff, Morri-
son Co., who notified the board of their
suspension.
The market at 2:45 was n, littla heavy and