National Republican., 1883-03-20
THE MARKETS.
An Encouraging Opening Followed by a Dis
Couraging Days Business.
Trading ParalyEod by the High Rate OF
Money-Thc stock Lists.
GOSSIP OF THE STREET.
lSpecidl Dispatch.


New YORK, Mar. 10.-Hotel and club talk
on the market yesterday was quite bullish
regardless of the continued strngency in
money, which was expected to pass away this
week According to the best information OBJ
tainable, besides the seasonable and natural
flow of funds TO the west and south, there has
also been lookup of about $16,000,000 by
the bears in stocks.
CammacS still denies this manipulation
and insists that there has been no extensive
lock up of funds. He declares that the de-
mand for money is genuine, being mainly for
business purposes, and it is now for this very
reason that he does not advise short sales Of
stocks, and also because he is aware that
general business is good, and the monetary
requirements of trade have consequently
greatly expanded.
Cammack and Woerisho1er are very bull
ish on Denver, of which they have lately
largely increased their holdings, and say they
will get 20 for IL by July /, but they don't ad-
wise people to buy other stocks.
Brokers say Kcono sold stocks throughout
Saturday and that the soller go. New
York Central was put out for an up town
bear account.
The cliques were doing very little on Sat
urday and there are no especial indications
for this week. excepting that the best men in
the room were buying stocks late in the day,
aud the large and most conservative room
traders were bulls.
The Lake Shore and Michigan Central di-
rectors meet hero Thursday next, and Van
1erbilt people say per cent. will be declared
upon each stock, and possibly something upon
Canada southern.
Lake Shore earnings was 81 net the first
two months of the present quarter, aud will
surely show over % for the quarter ending
April l.
Friends Of the Michigan Central say that
the company is now earning full dividends,
has no floating debt aud the road is in bet
ter condition than ever before.
Sidney Dillon tells his friends that Union
Pacific is constantly increasing its earnings
and the outlook never was so bright.
The Northern Pacific people predict a con-
siderable rise in their stocks this week, and
say negotiation has been completed for the
sale of the $10,0O00OO worth of land.
The ex-Pacifc party say the road is in fine
shape, and the stock booked for smart ad-
vance Immediately, and that the noted buy
ing last week by Gould and Dodge's brokers
was on the news that this company has Sc
cured the immense land grant of the New Or
leans Pacific company.
A Chicago telegram reports that great
snow storm ragged all day yesterday in the
northwest, the severest of the season, and tho
thermometer fell from 40 to 80 degrees.
At 1890 a. m. the loaning rates on renewals
was 10 per cent.
Walter Nelson bought 1000 shares of st.
Paul on the opening. Smithers and DON
nell, Won Hoffman, and Fansbaw bought Now
York Central Fairchild sold and Krctchmar
put out the stock at 125, seller 60, which was
bought by $. V. White, Scranton, ~ and and Will
lard bought Union Pacific. .aov l1lsf .
Telegraph is strong but dull. "A large Or
der is in the market to buy it at lower
figures. ',. .'..
About "a ,O0O,0 900 in gold is due this week
from Europe and California.
Governments are dull.
A Chicago dispatch says that a bill is now
before the Wisconsin legislature, which will
probably pass containing tho following i'm
portant section "TlTe Milwaukee and st..
Paul Railway company is hereby author
lied to issue capital in addition to
what il is now authorized to issue,
and in addition to its present capital in pay
ment for any coal lands heretofore or here
after purchased, or acquired by said company
at its par value, to an amount not exceeding
the cost of the coal lands on the railway 80
built or purchased, provided the act shall not
apply to any railway for the construction or
purchase of which stock has already been
issued to the amount of its cost. This act
shall he enforced from and after its passage
and publication"
REVIEW OF THE DAY.
Stocks opened friner and higher. Northern
Pacific preferred was the strongest, selling up
to S7s by noon, but the general trading be-
came extremely light and insignificant with
a partial reaction In prices.
The continued stringency in money was
overpowering, although the street was bull
ish Yet this influence checked buying.
The earliest money rate was IL, and stocks
loaned at to 10. New York Central and
Reading loaned at S.
Sterling rates were advanced slightly,
which will probably keep back gold.
On the second call speculation continued
dull and lifeess, the only feature being an
advance in Manitoba, on light buying, up to
1856, against l52 at the opening The strong
est stocks were the Northern Pacific and
Lackawanna. The latter sold higher reg
ular than for cash stock.
Money declined to 10, and after 2 o'clock
oifc stocks and Oregon Transcontinental be-
ing the most active and firm.
The general list in the last hour was higher
than in the morning by to per cent.
1t is reported in the street late that Mr..
Gould will probably start for home from Flor
ida tomorrow.
The Gould stocks were very dull to-day
and without movement.
The principal mining stocks are quoted as
follows: Alice 270@300, Carb Hill 120M130,
Taylor Pacific, 16@18; Consolidated Virginia,
4S@50; Southern Pacific 7@S.
LONDON, IL 30.-United States bonds un-
changed; Erie declined at /; New York Cen
tral, 1 st. Paul, !, and Reading /.
STOCKS.
The following are the opening, highest,
lowest, and closing prices Of the principal
stocks for the day, us corrected by special wire
reports received by Bateman & Co., bankers,
No. 1i1l + street northwest:
Nam. oe...,.. J i i :