National Republican., 1883-04-17
THE MARKETS.
The Bears Have Things Their Own Way for a
Day in Wall Street.
Reports of Bad Weather In the West In
Principal Cause Of the Decline.
GOSSIP OF THE DAY.
iSpeninf DisDdfch,

fDtCtut LNtlfufcNs
NEW YORK, April 16.-General talk at the
clubs and hotels yesterday indicated a
further advance this week, and outside OPP
orators were especially bullish. An adj
vance was predicted of to points in Louis
vile and Nashville, and 100 is promised for
Lake Shore, with higher figures for Jersey
Central and East Tennessee preferred. Dem
ver appeared to be in favor with very con-
servative circles, and insiders predict rise
Of 20 per cent. before the year expires
Cammack says that Denver has great
future but that the company is in no
hurry to do heavy transportation until the
road is better ballasted and running smoother.
The main buying Of Jersey Central ON SAT-
urday was attributed to the Rehabilitation
gan people, and the advance in East Tennessee
preferred was attributed to very general
buying upon probable privilege which will
90 with the stock, and the announced transfer
OF large amount of IL to the Gould party.
Brokers say that q desperate battle is
going on in Union Pacific be-
tween powerful operators, and that the re-
suit is doubtful, but there are large sustaining
orders in 1t at about 80. The bearish element
is growing in tho board and the short interest
doubled at the closing on Saturday.
Room traders who have been hard hit
claimed to have tit "dead sure" that the
market would break badly this week. Judge
,Hutchings claimed that the collapse would
come before Wednesday and that the street
would be astonished, SC.
Sage said tho market ought to react. A
great many bull operators, he stated, were
n 4 4. \ L..A.
ers have come in who have reabsorbed this same
money which had been paid of. 1t is reported
this Iuorning that application will be made
this week TO remove the receivership of the
New Jersey Central railway. Cammack talks
very bearish, declaring that there is no rea-
son for an advance in the market; that the
bulls are crazy, and predicts break up of the
east bound pool.
Stocks are loaning at 8; renewals at 6. The
largest trading is in Jersey. Minis bought
the most of IL. Sellers, Ryerson & Boolard
and Greene, Buyers Of tho st. Paul were G..
B. Scott and ]. r. Nichols. The sellers were
Lockwood & Imbrie. Northwestern was
bought by Buzby and sold by Amory. In
Reading Van Hoffman and Marx bought, and
w. Brown sold. In Union Pacific Boston
parties sold and Rhinelander & Dillon bought.
Scranton and Willard sold Lake Shore and
Randall bought it. Louis Bell is offering
Michigan down.
The Chicago Tribune states that the Wabash
lease to the Iron Mountain went into effect
yesterday (Sundayl, and is for 80 years
Exchange is weaker on account OF bills to
DO drawn against the Baltimore and Ohio
loan. United States AS arc dull; too many
offering, but 3's are wanted. 1t is reported
that Cammack, ,Woerishoffer, Osborn and Scott
have been selling great many stocks. Eames
sold $500 shares Lake Shore. Chicago
wheat and corn is up to IL cents. Washing
fnt, tha tuun fhat fha InfariOr n
partment Is about to bring suit against the
Union Pacific is simply revamping Of the
old story, action having been brought by
agreement to determine net earnings, the gov
ernment will only have its percentage of the
amount If tho suit for one million goes against
the company.
REVIEW.
The bears, led by the room traders Kirkner,
Bell, Johnes, and Dickinson, hammered the
market fiercely at the opening on reports OF
bad weather in California and the northwest
and prices went off / per cent on Union Pa
cifc, Northwestern, and Delaware and Lacka-
wanna. The steadiest stocks were Erie
Jersey Central, Reading and Northern Pa
cifc. A slight rally at IL o'clock was only
followed by heavier selling, and there was a
report that the leading bears were hammerine
the general market. The largest trading was
in Jersey Central. III. j. Nicholas gave O
great many orders to sell stocks this morn.
ing supposed to have been for keene.
At noon the Vanderbilts were the weakest
stocks, Northwest declining q from the open.
ing Money was quoted at 9, stocks lent at {
to 9. Mr.. Keene had special western dis.
patches declaring that only about of the
spring wheat had been sown and that the sea
son was a fortnight late.
On tho second call the market was gen.
orally heavy and still lower. Lackawanna
was especially forced for sale at the lowest
quotations of tho day. Money was bid up tC
8 and this caused a weakness. Later loans
were made at 5.
The market closed weak about the lowest
prices of the day prevailing.
LONDON, 1230.-Bonds unchanged; Erie
rose !, Reading, Pennsylvania Central
and Ontario and Western, /.
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 Il Co., bankers
No "a,