National Republican., 1883-04-19
THE MARKETS.
Prices Very Irregular at the Opening Of the
New York Stock Exchange.
A Downward Tendency All Dsy-Tho
Crop Prospects Improving.
GENERAL GOSSIP.
ypecfai Dispdich.

Special Dispdich.
New YORK, April 18.-The sudden change |
in the market to strength was regarded as
very surprising by general traders, aud the |
majority Of operators believed it was still
bull market, and that the reaction had been |
beneficial. 1t was believed that the Smith
Hollins buying had very much to do with
changing the sentiment Of tho street, and |
the talk on Lackawanna was 1873 beforelFri-
day. 1t is reported that about S1,000,000 of
Lackawanna was done in board yesterday
within ten minutes after the opening
Cammack, Woerishoffer, and Osborn were
in conference last evening. IL Is believed
Osborn had covered, but that the two first |
named had still large short interest
The Mills people continue bullish, and ex-
pect that the London people will go largely
into the American market for investment, as
money is drug throughout Europe.
The opinion of nearly all the prominent
dealers last evening was regarded as favoring
a further rise this week, but the room traders
resist the advance. Johnes still talks bearish,
and Slayback predicts q slump Of ten points
before rise Of four from the present prices.
Sage is again bullish especially on Wabash.
Woerishofier says that the West Shore
road is under contract to run trains direct
from the Pennsylvania Central railway depot
in Jersey City to Saratoga June 1, and
through trains will be run direct from Long
Branch &C., all summer NJ.
Friends Of the Reading say it will go to 90
this week.
Cammack says Denvers earnings show con-
slant gains over last year, and he has in
creased his interest in Denver to 10000 shares.
1t is said that Scott has sold his stock.
President Keep, of the Northwestern road,
says nothing positive has been decided about
the ten millions debenture bond issue, and
committee, represented by Schell, Scott, and
Sykes, have the matter under consideration.
Scott says that nothing will be done until the
annual meeting in June.
Fanshame bought most of New York Cen
tral. Cecil bought 1000 Lake Shore. Hud-
son also bought. Hughes sold 1000 shares of
this stock. Elliott was the largest buyer Of
Lackawanna. Northwest was bought by Her
rick and Layenburg. The sellers were Mich
olas and w. Bound. The largest sellers of
Union Pacific were Baldwin, Raymond, and
Dillon, with buyers, Scranton, Willard, Wads.
worth, and Stockwell. Elliott also bought
Union Pacific.
The vice president of the Northwestern
states that the issue of $10,000,000 debenture
is fully decided upon. This issue increases
the Northwestern's fixed charges only little,
as the bonds only bear 5 per cent. interest
and if they had not been issued the company
would have been compelled to issue stock
bearing per cent.
This issue does not interfere with the
Northwestern surplus, and Vice President
Sykes says that the company has $15,OO0,OO0
in securities in the treasury.
A Chicago Tribune statement on the crop
prospects says that reports from fifteen of the
principal winter wheat states indicate that
this crop may fall short $4,000, 900 bushels.
Exchange steady and firm, with small sup
ply offering United States bonds strong.
Cotton is in moderate demand. Galveston
dispatch reports unfavorable crop weather.
VTrfA, nd aa1n lpr
were $4,000 acres, being an increase of $4,000
acres IL. N. Smith has been buying Jersey
Central, and the stock is in demand. Its
books close on the Goth for election. There
is said to be strong bull pool in Ontario and
Western.
Puts on 10000 shares of Oregon and Trans
continental were offered on the street. at 81,
60 days, for per cent (Joe Mills's privilege).
J. T. Lester, Chicago grain dealer, tele-
graphs that the fine weather Of the past three
days has wonderfully improved crop prospects.
The opening was irregular but generally
to better, jersey Central and North Pacific
preferred being especially strong, and Lacka-
wanna showed large transactions. III. N.
Smith and D. p. Morgans, were the leading
purchasers of these stocks.
Jersey Central was stiffened by orders from
these operators, together with a rush to buy
from the shorts, who feared % squeeze on the
closing of the books.
Hannibal and st. Joe common rose to 43
on a report that the road would build the
Quincy extension. Chicago, Burlington and
Quincy on this point dropped "a. At
o'clock there was reaction, and brokers gen.
orally thought that there had been heavy
inside selling again to-day.
On the second call the tendency continued
downward. Exchange steady and firm.
United States bonds strong. Money, 6; stocks
loaning A to 5.
At 1870 stocks were dull but inclined
to rally. Central Pacific was weak and was
hammered by Judge Hutchings. Missouri
Pacific was sold by Gould's brokers. Oregon
Transcontinental was strong feature.
At o'clock the tendency was downward,
Union Pacific being especially pressed.
Money declined to A. with 6 months loans
offered at cents. Near the time of closing
the general list was still weaker, and at the
loss of 1 to IL on the general list
from the morning. An unfounded rumor is
current that Mr.. Vanderbilt will decline re-
election by the New York Central railway to-
morrow. The market closed weak at about
the lowest prices of the day. The bluster and
clamor of yesterday resulted in higher prices
at the opening this morning, but i'll nothing
else. Union Pacific has been one of the weak
est stocks on the list to-day. This was due to
the fact that suit is now in course of pre-
paration against that road. When this suis
Is began it will stop all payment of dividends
and interest on the bonds until it has reached
conclusion.
The indications are that Union Pacific, Jer-
sey Central, and the general market will go
somewhat lower. But few stocks have been
we'll sustained to-day; on the contrary, the
bull leaders have been free sellers Of all the
stocks that the market would take.
LONDON, April l7-12:30.-Bonds un-
changed. st. Paul rose "a New York Cen
trail |; Illinois, Reading, ZIG; Ontario
and Western, !, and Pennsylvania Central, /.
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, I411 L street northwest:
1 Il, =,