National Republican., 1883-08-02
THE MARKETS.
RumOrS Of a Strike Among Railway Operators
Used 10 DopreSS Prices.
A Weak and Unsettled Feeling In Wall
Street.-The Grain Trade.
GENERAL GOSSIP.
Snecidl DisDqich.

everything is serence in the Colorado pool
The feeling was bullish at Long Branch in
brokers' gatherings last night notwithstaud-
ing the dullness, and the argument used was
that the market presented firm appearance
considering the unfavorable conditions The
old bear clique sold stocks again yesterday
morning, and the room traders ham
mered the market upon tho Boston
failures and telegraphic troubles, but
without making much depression.
Brokers said the commission houses with
Boston accounts sold a few long stocks, and
not many were liquidated on the suspensions.
Private wires from Boston said Ward q Go.
would be compelled to make an assignment.
The strength of tho Vanderbilt stocks was
noticeable, and it was believed insiders were
buying the New York Central and Lake
Shore, which was put out for short account by
the bears. 1t is reported that now bull
pool is forming in Reading. MIR. Vanderbilt
has called Gen. Magoe to Saratoga on Read
ing interests, Seats in the stock board are
held at $24, 900 bid. A dispatch from Spring
vale, Me-, this morning reports the suspension of
the Springvale bank, capital 100000. The
concern was run by Holbrook & Co., Of New
York, who suspended some time since.
terviews regarding the telegraphers' strike,
with Huntington, Dillon, Field, Sage, Gould,
and other Western Union directors in New
York yesterday, the gist of which is, they
Will never, for an instant, consider any COM
promise Business is progressing splendidly.
If the misguided men don't return in thirty
days their places will be filled by Eckert
finally. The party hadn't paid much atten-
tion to the stock market for some time back.
The Iimes's Pittsburg dispatch, dated ] a.
m, Wednesday, says all the railway operators
on Goud's Wabash, st. Louis and Pacific
struck last night. Master Workman Camp
bell says that barring contrary advces he has
no doubts of the truth of the report,
1t was stated yesterday that brokers were
endeavoring to borrow sixty-day bills of ex-
change on London, and offering Northern
Pacific and Oregon Transcontinental stocks
as collateral
Late Boston dispatches received this morn
ing state that five or six more failures are
expected in the leather trade there
Sternberger sold 1000 shares New York
Central on the opening, and Harvey Durand
also sold. WOrmser bought, and Van En-
burgh & Attorbury bought 1,500. Fanshawe
sold Lackawanna; Wallace bought Johnes
sold Lake Shore Chapman sold and bought
the same. Baldwin bought Lake Shore.
Charles Johnes hammered Wabash preferred.
p. Murphy and Durand sold st. Paul Young
and Riggs had the sustaining orders in North
ern Pacific preferred and bought 5000 shares.
There were no features in telegraph. Money
Mt 2, and stocks loan about as yesterday.
The reported strike of telegraph operators
on Gould's railways is officially denied.
The vice president of the Wabash road
says there is not particle of truth in the re-
port that the operators on that road are on
strike. There are about go operators on the
Gould lines, and less than 100 are specially
employed in telegraphing. The rest are
express agents, baggagemen, ticket agents, &c.
Erie was the feature of the second call, and
the Germans are very free sellers. stern
berger and Field sold largely. Mccormick
sold 1000 shares The other large sellers
were Goodchild, Dickinson and Zerega. Slay-
back was hammering the stock. The buyers
were Neumogen and Gerrisheim. A Roch-
ester dispatch says the Rochester and Pitts
burg handled last Friday $50 cars of freight
against 120 last year, and the general traffic
is largely increased.
The Connecticut Western Railway company
will issue 100000 8 per cent first mortgage
bonds on the sixteenth proximo. The other
mortage bonds have been exchanged for pre-
ferred stock
The Chicago and Atlantic railway has just
added eighteen Brooks locomotives to its
equipment.
The tonnage of the western connection of
the Erie, Chicago, and Atlantic, Chicago, and
Grand Trunk, Chicago, st. Louis, and Pitts
burg roads is reported to be large, though
these roads are making no effort to secure
freight, because, under the new agreement,
they will be compelled to pay into the pool
the gross earnings derived from excess of
business, consequently they would have to
lose their operating expenses on such ex-
cesses
1t is announced that the bonds of the Della
ware and Hudson Canal company falling due
July /, 1854, will be redeemed at par and
accrued interest at the com mnnny's office.
The Horn Silver Mining company has de-
cared u quarterly dividend of 3 per cent,
payable on and after the fifteenth instant.
George Gould is reported to have been at
the meeting of the board of directors of the
Western Union held to-day. IL is understood
he made "a detailed statement of the result Of
his mission to England, especially with regard
to the prospects of the stock being listed on
the London exchange. 1t is said also that he
presented q lengthy communication from DR..
Green. 1t is not known whether the strike
was considered mt the meeting or not The
board is SAID to be unanimous in support Of
Eckert's management.
l., REVIEW. ,,aI
. The market opened to below yesterday
afternoons closing and some depression by
room traders using small lots to break prices.
A report that the operators on the Wabash
road had struck was used to hammer the stock
and the common declined l and preferred
per cent. The report was officially denied,
-Sf'Sgtern Union was the best sustained stock
and Northern Pacific, Union Pacific, Oregon
Transcontlirantal, Louisville and Nashville,
Jersey CentralS~and Lake Shore were firm.
The loaning rate for stocks was 2 ; money, 2
governments strong; sterling quiet and
steady. AT noon stocks were weak, espcc ly
the Gould railway shares On the second call
the lowest prices prevailed under the lead of
Erie The Germans threw over their Erie
stock and the room traders jumped on it,
making the price below 81. 1t soon re-
acted to 3it, when the market dulled on
light trading. A dispatch from Baltimore
this afternoon via private wire said
forty operators of that city had been won
over by the strikers, but this is pronounced II
lie by the Western Union officers. EARLY in
the last hour the market was shade easier
and nearly stagnant Private advices from
Boston state that the feeling Of alarm in re-
gard to the commercial situation so prevalent
yesterday afternoon has, in measure, sub
sided, but further failures are expected espe-
cially in the leather trade AT 2l5 the market
reacted a fraction on nearly all active stocks,
and closed steady under limited trading.
LONDON, l2:30-U. 5. As, lower; Erie. J
over; New York Central, 1-IG lower; Illi-
lois, lower; Reading, loweri st, Paul, 1
over.
WASHINGTON STOCK EXCHANGE
District Of Columbia.
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