National Republican., 1883-09-05
THE MARKETS.
The Backbone Of Wall Street Showing Un-
usual Rigidity.
Prices Crawling Up and Buyers Raven
oun-small Talk on 'Change.
GOSSIP.
Specidl Dtspdtoh.

NEW DIRK, Sept. A-One OF tho representa-
tive bulls on present rise declares IL is not
the policy Of the leaders TO allow bears to
cover many stocks at present going prices
Drexel, Morgan & Co. estimate an import Of
Ao,0oo,0oo gold this year. Conservative
brokers say yesterdays market closed salts
factorily strong considering free realizing
sales, and they believe the market gains
strength daily. 1t is reported that John
Jacob Astor has been buying literally ofsound
dividend paying stocks the past fortnight,
aud he is in Wall street daily. The advance in
Louisville is based on an important proposed
administration change, including new
president. but the passenger rate war inter-
feres with the success of the pool. The Air
Line rival road yesterday cut rates from
st. Louis to Louisville to 81. The room
traders are generally bullish on the market,
having changed position about noon yester-
day. Mr.. II. N. Smith thinks the market Is
rapidly passing from the room traders control,
and that then hammeripg raids will soon
cease. The Milwaukee and 81. Paul earnings
will be issued this morning and show large in
crease during August, but the Northwest road
will show but little If any gain, as the August
receipts last year included $4,000 received
from the government on an old mail contract.
Lackawsnna July net earnings were 1t per
cent, instead of 1 per cent, as printed in tho
press dispatches. Higgins says this company
is short Of coal at every depot. Denver man
ayers are at odds, and this prevents quorum
of directors to elect president. This Is the
reason given by prominent director as en-
explanation of the delay.
THE Days DoINGs.
In Lake Shore, Hughes bought 800 shares
and Slsyback bought also. Louis, Bell, and
Drummond hammered the stocks. The other
sellers were Bouvier, Johnes, Henriques, and
Sternberger & Fuld. Wormser & Co. were
buyers. In New York Central Reed sold. Her
rick bought stock regular and offered stock
on sellers options. In Erie tho London
bankers were sellers. L. Marx bought. Vanl En-
burgh offered Union Pacific. In Lackwanna
Jameson, Smith, and Cottingl bought and
Simmons and Chew sold. In Northern
Pacific preferred Jamory bought most stock
and Young and Morse sold. In st. Paul Van
Emburgh and Atterbury bought; George s.
Scott & Co. sold. Loaning rates for stocks
unchanged. Money 2 to 81. Sterling un-
changed.
Mccormick, Adams & Co., Chicago tele-
graph the weather is magnificent throughout
the northwest, with slightly higher tenn
perature. Government bonds steady, but
quiet.
Cotton advices from Galveston say that tho
loss in Texas to cotton by the drought in
some parts of the state amount to so per cent.
The average loss, compared with 1882, is 335
per cent.
The selling of Lackawanna has been very
large. Bissell sold 1000, +. b. Wallace & Co.,
White bought some, but the buying was gen.
orally scattering. In Reading Henderson &
Loomis and l.. White bought, and White
house sold. In Lake Shore Denote
sold 1000 shares and Bell con-
tinued selling. Van Emburgh bought some
stocks, but the buying was scattering. In
Western Union, Van Emburgh & Atterbury
Randall bought 500 shares In New York
Central R. p. Flower and Henriques sold; the
buyers were Herrick, and sterntbbeSger sterntbeSger &
Stocks strong, especially st. ,Paul., which
was bought freely by H. 8. Wilson,. Boocock
& Bouvier. Clews bought up Reading, and
Maplesdon bought Lake Shore.
REVIEW.
Stocks opened with disposition to realize
on the part of the small bulls, and prices de-
clined and 1 per cent, but the offering be-
ing readily absorbed tho market recovered.
New York Central, st. Paul, Northwest Lake
Shore, and Lackawanna, were especially
firm. Later, however, there was great pres
sure to sell the Vanderbilt's and Lackawanna
and they yielded to IL. The remainder of
tho list sympathized fractionslly.
Money on call and % per cont in loan
departments The lending rate for stocks
was unchanged. Governments were strong;
sterling unchanged. The market at noon
was dull, but generally at / and advance
from lowest prices The news to-day
favor higher prices. Reports of earnings
were satisfactory, and the weather reports
very gratifying. Woerishoeffer was large
seller of stocks to-day. Stocks had a stronger
undertone on the second call, especially st.
Paul. which was bought by room traders.
Northwestern was stronger, as were Western
Union and Reading. The remainder
of the list had a firm backbone. At
215 prices were In the main steady,
but with no important changes, except in
Illinois Central, which touched 25s. During
the last fifteen minutes stocks were active.
Louisville was o feature, advancing to 4s3,
and the marker closed strong along the entire
list. and a very bullish feeling was prevalent.
LONDON Sept. A, 1:30.-United States bonds
strong, American railways strong. Erie, D
higher New York Central, 4 lower; Illinois,
higher; Reading, lower; st. Paul, /
higher.
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. 1411 street northwest: