National Republican., 1883-09-22
THE MARKETS.
AShOng New Pool Formed in Northern Pacific
Stock,
Expecting Higher Prices Next Week and a
Bull Movement In October,
GOSSIP.
cuccfdt UisDdich.


New York, Sept. 21.It is reported that
a strong new pool, mainly of the old bull
party, has been formed in Northern Pacific,
and that d. o. Mills, Belmont, and Morgan
are behind Drexe, Morgan s. Co.. who bought
so many Willard stocks yesterday. The friends
of the Northern Pacific regard the annual
report as favorable, and one director says u
dividend of per cent. on the preferred may
be declared next week when Willard returns.
But the Mills party are opposing it, and the
board are not unanimous about it. 1t is OK
pected $l000000O more will be required to
finish and equip the road
The German party who were main sellers
of the Wizards and Union Pacific stocks yes
terday continue very bearish on the market.
President Gowen, of the Reading road, was
here yesterday and said this company earned
II net upon its stock in August, aside from
the Jersey Central receipts. The Lake Shore
people say this company is sure of rate of
per cent month earnings until April next.
The Jersey Central, its friends claim, in
August earned 100000, more than per cent,
and this sum remains to the credit of tho
Reading company as net surplus earnings
Both Gould and Vanderbilt parties tell
their friends to buy stocks on every raid, and
confidently predict higher market next week,
and probably general bull movement in Oc-
of yesterdays bears raid.
President Hoyt, of tho Pennsylvania Coal
company, reports fair sales and no serious
difference regarding prices. A Chicago tele-
gram says the Michigan Central was accused
before the committee of cast bound roads yes
tcrday of cutting rates, but they made salts
factory explanations Tho scalpers in Chicago,
however, sell tickets TO New York for SIG via
Cincinnati owing to the Panhandle war on
Louisville.
dispatch from Montreal states that Mr..
Barclay, member of the Canadian parliament
from Farforshire. who has just returned from
trip over the Canada Pacific and Manitoba
roads, states that he was amazed at the crops,
and has tho highest possible opinion Of the
country travorsed by these lines
1t is said that Mcssrs Fahnestock, Clyde,
and Lyman, the last named Of the firm of A.
A. Low q Co., will shortly onter tho East
Tennessee directory.
WALL STREET.
Northern Pacific preferred was the weak
and active feature ON the opening. The sell
ers were Sternberger 4 Fuld, Herts, Nicholas,
Decker g. Howell, Elliott, and Il. l.. Frank
l.. Cohn g. Co. bought, but the buying was
scattering In Union Pacific the sellers were
Bell, Spalding, and kirkner; buyers, Ray
mond and JOhnes. Erie quiet. Goodchild
bought and Wormser sold. Western Union
dull, but sustained by inside orders. Now
York Central was bought by Knoboch and
d Howard and Ham Bros. Sterling un-
changed. Money %, Northern Pacific pre-
ferred loaning 1-6i.
The room traders and tho bears are selling
the general market and cunning for stop
orders The Germans sold Louisville exten-
sively, and Van Hoffman, Slayback, and
Walsh were free sellers. In Union Pacific,
Leo sold $500 shares. Hughes, Stephens,
and Slayback sold Oregon Transcontinental.
The bond dealers report good demand for
gilt edge securities. Government bonds
strong Cotton is firm on higher Liverpool
advices.
On the second call Chaplin sold considera-
BILE Now York Central and Flower & Co. sold.
Boocock sold Northern Pacific common, and
Van Emburgh and the traders sold the pre-
ferred stock j. o. Stephens sold Union Pa
cifc. In Lackawanna Davis & Tileston and
i. b. Wallace & Co. have sold largely. Stern
berger ~ Fuld were buyers. Corn is up in
Chicago cents from the lowest and wheat
lola cents Press reports from London state
that advices have been received there of an
other bank trouble in Montreal, but this
report has been denied by private kilograms
from Montreal.
At the recent meeting of the Chicago COM
mittee Of passenger agents of east bound
roads for the purpose of further considering
the complications of the various roads and to
effect a new agreement by which rates can be
maintained hereafter the following resolution
was unanimously adopted:
Resoired, That when it is proven to the satisfac-
tion of a majority Of this committee that tickets
have been sold by any road to member of this
mttee at loss than tariff rates or contrary agree
ments, such tickets shall be redeemed by the road
guilty at double the tariff rates.
Stocks opened active Irregular and fever
ish, and the bears were on top in Denver,
Louisville, Union Pacific, and the Wizards,
the bulls making feeble fight in the earliest
dealings and the decline in the above men
toned stocks ranged from for Denver to II
for Oregon Transcontinental and Northern
Pacific preferred. The disquieting condition
of financial affairs in Montreal and the unfa-
vorable impression produced by the Northern
Pacific statement, which grows worse as it
grows older had decidedly dampening ef-
feet upon speculation There was rally in
the Willard shares about IL o'clock, but it did
not hold, and at IL o'clock prices were 6O II
below Thursdays closing, while the general
list showed u decline of az l per cent, the
latter on Louisville and Central and Union
Pacfcs.
Money 2@2l. General loanng rate for
stocks 2. Northern Pacific preferred lent for
"a, and Now York Central fiat. Government
bonds strong, Sterling unchanged. There
was fractional advance in Pacific Mail to
394, but it afterward fell l below tho opening
to 3st. There was renewed and marked de-
preston between 12 and 3 o'clock, when the
lowest figures We're reached Stocks gem
orally were log per cent. below the opening
The Wizards were the soft spots. On the sec
ond call the room traders continued their
hammering of the Wizards, and early in
the last hour the market was dull Mt the de-
cline. There was renewed selling OF the gem
eral market at 2:i5 and the closing was weak
under free offerings by the room traders
whose efforts seemed concentrated on the vii
lards
LONDON, Sept. 2i l2;9O-Now York Cen
trail, 3-16 higher; Illinois, I higher; Ponnsyl-
yania Central, higher Reading, lower
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. l4l1 i street northwest: