National Republican., 1883-03-12
A Better Feeling in Wall Street in Spite Of the
Money StringenCy.
Heavy Gold Shipments from Europe-En-
couraging Reports from the West.
GOSSIP.
Special Dispatch.

lOrk central, DelhWare anu buCkuWanna'
Louisville and Nashville, Union Pacific, and
Jersey Central.
IL is said that prominent bull ON Lacka-
wanna had put up 10000 shares of tho stock
to his name.
Some brokers think the present bull lead
ers' plan is to occasionally allow the bears
control of the market, believing that they
gradually will get into deeper water until
finally find trouble in getting back their
stocks. The decline in tho afternoon was
partly on an unfounded rumor of the with
drawal Of gold shipments from London to-
day, and partly by an attack of Osborn & Co.,
who talk of very dear money. The old story
was revived that the Vanderbilt boys were
selling, &c. Some leading bear traders who
covered their Union Pacific, st. Paul, and
Western Union early in the day put them
all out again in the afternoon, con-
sequently it is expected that
larger short interest may appear this
morning. Room traders were undecided last
evening" but the opinion prevailed that If the
market opened weak to-day they would buy
for turn.
There was a rumor of failures through the
day, but they were probably stupid Jokes on
Wiggins's predictions.
The telegraph people say there is nothing
to hinder tho Western Union directors from
declaring dividends, but they cannot be paid
until the fifteen million scrip dividend in
junction is removed, which will probably be
next week.
The banks which are assisting the money
squcezcrs in the market arc said to bo the
Wall Street National and the German Amer
ican.
Union Pacific is loaning at g. New York
Central at 3, and others about Z.
Stocks opened tame, and the Vanderbilts
very dull. Heath sold Lake Shore at 40.
George Cummings sold st. Paul largely on the
opening. Subsequently Osborn & Co. and
Walter Nelson sold. The buyers were scat
tering. Johnes is a bull, and says great
deal of st. Paul is wanted at about par. Pat
tison sold Lackawanna heavily. Bird was the
buyer. Colgate estimates the loss in bank
reserves to-day at $20O0,00O. London dis
patches report Virginia consols 3 per cent
lower at 45.
The latest increase in Northwest earnings
in Omaha $4,000.
A Philadelphia dispatch says +. b. Gowen
emphatically denies the injurious reports cir
culated yesterday against the Reading road
There has been free buying in Philadelphia
Of Pennsylvania railway stock for London.
United States bonds are dull to-day tho
dealers lending money and neglecting bonds
. Seligman g. Co. place tho actual gold ship
ment from London this week at $4,000, 900.
About $l,000,000 was withdrawn yesterday,
otherwise tho shipment would have been
$5,0O0,000.
Sterling quiet. John Home sold the largest
amount of Union in the board this afternoon
Savin bought 5000 shares of st. Paul.
A Philadelphia dispatch says the Pennsyl-
vania legislature has passed the bill confiscat-
ing all the telegraph property belonging to
the corporations which violate the laws pro.
hibiting consultations.
II is stated that the Wabash annual report
will show that the company failed to earn the
fixed charges, but satisfactory reasons there
for will be given. The company paid in
terest charges last year on considerable por-
tion of the road not operating.
1t is reported in the board that the Michi-
gan Central company will pay per cent and
Canada Southern H.
REVIEW.
The opening was tame and unspirited, the
Nanderbilts very dull, and trading light at
unchanged prices. Up to IL o'clock trading
was without special significance only that
the prices were generally fractionally below
the opening,
Sterling was dull to-day. Government
. bonds were also dull, the dealers lending their
inst a..
of loans this morning at per cent, but at
1l:3O a. IN. money was lending at 9 to Z. The
general loaning rate on stocks is about 7 /;
New York Central, 5 ; Union Pacific, 6.
The traffic returns from western roads to-
day were encouraging. The bank statement
shows loss of $2,s50000 in reserves Not
withstanding this unfavorable showing, the
stock market became stronger and more act
i've. On the second call the Vanderbilts were
leading, with New York Central advancing
to 129 Lake Shore Michigan, and Canada
Southern advanced one point,
At 230 stocks were strong and active at the
best figures of the day, tho Vanderbilts lead
ing as before.
The rally in the stock market this after
noon shows large short interest, and was
mainly due to them.
RETROSPECTIVE AND PROSPECTIVE,
The week has witnessed hardening mar
ket, with money at high rates. This latter
fact is the direct outcome Of manipulation by
interested parties, there being no real cause
for a stringency.
The statement made in those dispatches
last week that the buoyancy was the pre-
dominating feature Of this market has been
abundantly verified by the events of the
past six days. There is nothing in the
existing conditions to cause u change in
that opinion, and we believe, that for some
time to come the market will promptly re-
spond to favorable influences Among such
influences may be cited, among Others the
greatly improved railroad earnings; the
large and increasing shipments of gold from
Europe to the United States bad crops in
Europe, and the consequent heavy demand
for those of America Again, it is known
that stocks are in the hands of strong men
who can hold them up; and the public begin
to understand this and an increase of conf
dence ensues resulting in increased activity.
Saturday witnessed somewhat remarkable
illustration Of the cork-like qualities of this
market. Western Union responded to the
passage by the Pennsylvania legislature of the
consolidation prohibiting enactment by ad-
vancing where decline was expected.
THE BANK STATEMENT.
Tnove daoraoga1 ooo ooo