National Republican., 1883-05-30
THE MARKETS.
AFearnlly Dull Day, with Generally Declining
Prices, in Wall Street
The Railway War In the West and Other
Depressing influences.
GOSSIP OF THE DAY.
Specidi Dfspdfch.

NEW YORK, May 29--Thero was not much
disappointment last night in the bull ranks
over the action of yesterdays market, as it
was not expected that much Improvement
would take place until after the railway
squabbling had ceased. IL was believed by
conservative operators that the railway
troubles would bo settled to-day at Chicago,
and better feeling with higher market
would be again the proper thing before tho
end of tho week. Treasurer Tows, of tho
Rock Island said last night that his western
kilograms indicated that the troubles in the
Iowa pool would be satisfactorily settled, but
he said the st. Paul had been caught cutting
rates and was wholly in the wrong.
Gould's friends think he will take q hand
In bull movement early in June, If tho
Western Union decision is favorable to the
company. 3 The slump just before the closing
yesterday was caused by Johnnes, who sold
out about $4,000 shares of st. Paul, Lacla-
wanna, Union Pacific, and Jersey Central.
The brokers said there was no other special
pressure to sell, and the most of the room
traders thought the market was purchase at
tho closing for n turn. IL sreported that tho
standard oil people Inundated on some Sr,
Paul yesterday, and Schepp sold about 1000
shares Of Union Pacific ut a loss. Joe Mills
says he don't like the action Of the market.
people are selling at the present prices.
X. p. Flower thinks the present basis for
stocks too high and that there is no outside
business in consequence. Ho says none of
the main roads except st. Paul are increasing
their earnings this year, and from present
appearances the st. Paul will soon fall behind
II che war with Rock Island continues. Tho
northern Pacific is losing 45 per cent allow
ing for increased mileage, and the Omaha b.
The board opens atusual hour on Thursday,
after closing for decoration day.
Commencing next Monday, June 4, and
until the summer is over, the board Will not
open until IL u. IN. on Mondays.
Young sold 900 shares of st. Paul Amory
sold Denver; DickinBon bought In his New
York Central; Reed sold, and Johnnes bought
Delaware Lackawanna; Durant sold the
same; Wharton & Eldrfdge sold Lake Shore,
and Peter Kissam and Campbell bought Lake
Shore; in Northwest Stafford and Haight
bought and Goff & Randall and Demott sold
same; Cross sold Reading, and the buyers
were Bogert and Calm & Co.
There is nothing new in the railway stu
alton to-day, only the railway people say
they expect settlement of the Iowa pool
troubles The Chicago Tribune of this morn
ing says: "The general prospect, taking this
year and last year together, we will have
considerably more than the average supply of
wheat"
If the crops last year was equal to the aver
of eleven months, we have tho yield of
twenty-six months for the supply of twenty
four months, which. ought to suffice, Tho
Gould people say that there is about 100000
shares Of Kansas Texas stock in Europe, and
more is being picked up here all the time for
foreign account. This company sold 1,600
acres of land last week for $i,04S.
IL is said that the st. Paul company will
refer the matter of issuing further stock to
committee next September
The general manager Of the Northern Pacific
telegraphs that the crops along the line are
very favorable and the acreage increased 20
to so per cent. .nlJnoats - ll,s o..
Weather warm. of7i,n2 H.lof.ls p p
The Iowa pool meeting convened at 1880
o'clock this morning ssf ysfa<g1 ,iv
High officials of the Rock Island company
say that rates are as low as they can go, and
ali sgree that the fight is foolish, and that the
probabilities are decidedly in favor Of an
agreement.
If the st. Paul refuses to enter the Iowa
pool on q fair percentage.it seems probable
that the pool will be reconstructed ON the
same basis as the present st. Paul and Mime
sofa agreement, in which the roads are per-
mitted to obtain all the business they can
handle, but are subject to heavy penalties if
they cut rates.
II is stated that the allotment privilege
will be given by the Pennsylvania railway
next fall in order to provide funds to carry
Oub pIOJCClSu IAlCllolOuo W SdpVulO llo NOdu-
ings trade.
REVIEW.
Tho market opened dull and inclined to
droop, tho decline ranging from to Z per
cent, the latter on Wabash preferred, which
fell TO 409, the lowest in a long time. The
firmest stocks were Central Pacific Union
Pacific, Delaware, Lackawanna, Jersey Cen
tral, and Chicago Burlington and Quincy.
Tho general trading was very light, hs is
usual on the eve of holiday and the room
Traders did most of the trading. Stocks lent
st 2, and money at to %. Sterling
was strong. Government bonds were
firm. On tho second call stocks were
fraction above the very lowest prices of
the morning. but dealings continued light
and unimportant. There was rather
moro activity in Wabash Pacific, but it did
not improve, notwithstanding bulletin on
the tape from Gould, stating that he had
greatly reduced expenses and increased bust
ness OF the Wabash, and he was managing it
ON n conservative basis
Considerable interest was felt in the pool
meeting in Chicago to-day, but no details
have reached the street yet. 1t is generally
believed new pool arrangement would be
agreed upon. During the last hour the
market was steady, but with no buyers in
sight, and very few brokers in the board
The market closed steady, almost firm, and
the limited buying will never be cut from
present appearances Flower thinks Lake
Shore should not sell above bar.
LONDON, 12:30--The market is dull. United
States bonds unchanged. Erie lower, New
York, Central }, Reading }, Lake Shore II,
ST, Paul II, Louisville and Nashville /, On
tario and Western J.
Weather in New York hot and threatening
STOCKS.
The following are the opening, highest,
lowest, and closing prices of the principal
stocks for the day, as corrected by snecial wire
reports received by Bateman q Co., bankers
No. 1411 Il street northwest: