National Republican., 1883-09-10

nets (the production of tho Glonham mills, |
and the goods were all sold, but ut low aver
age prices.
THE STOCK MAREEr.
With tho exception of few corn crop
killers" noted above, the entire gossip of the
street has been engrossed with accounts of
the country's future, tho immense crops, the
floods Of traffic, which are now said to be as
sured, and tho active demand for stocks from
outsiders and investors, &C., &c. Thus in
outward appearance has the humor of Wall
street beon changed during the past week,
and so for as crops and eastbound traffic is
concerned they are undoubtedly correct. But
to say that tho public by that is meant in
vestors, either at home or abroad, havo in any
considerable force entered this market is not
true. These same converted bears were two
months ago working hard to bring
about the distrust and panicky feeling
tho street has lately induged in, and
while VIC arc willing to concede that
the public is very gullible, it is not in tho
nature of things for distrust, which has been
growing for months to bo so suddenly re-
moved. STILL while there Is reason for be-
licving that the late upward movement was
inaugurated by experienced spectators in
the street, and tho advance in prices was
TO a great extent artificial it is also pretty
certain that they did not inaugurate the
movement until they werc convinced that
I
steady absorption of stocks by investors who
are not of tho speculative class that buys on
margins, but tho volume of this kind of buy
ing would probably not of itself have caused
as much advance i'll several months rs was
experienced last week. There was an almost
continuous advance in prices up to Friday,
the closing prices each day showing an adj
vance OH those of tho preceding day. There
was u slight reaction from tho continued up
ward movement on Fridays closing which
was continued on Saturday. Following is n
review of Saturdays market:
Tho market opened with the selling move
ment of last night continued, and | to Ii de-
| clino for Louisville and North Pacific COM
mon. Northwest, Louisville, and Denver were
! pressed for sale. Sales in the first forty-fvo
minutes of business wore $4,000 Louisville
and Nashville at 81 to 80 to 81 G,000 Don
yer, 2Sl to 271 to 2Ss $500 Reading, so to i0l
to SOL $500 Lackawanna, 1921 to 1929 $500
New York Central, liza to 1l7a; 5000 Oregon
Transcontinental, 66l to 66s; 5000 Western
Union, SOI to S0l to s0l 3i00 North Pacific, Al
to Ala 200 Northern Pacific preferred, 7dh to
| 75A. There was some apparent steadinoss at
IL o'clock, but the heavy sales put rally out
of the question and continued unfavorable.
Corn weather reports added to the mena cling
| attitude. Certain of trunk lines made the
bears bold. Tho lowest prices were made
shortly before 10 o'clock, Michigan Central
declining II from opening, Wabash l. Central
Pacific (, Northern Pacific \, Northern Pacific
preferred IL, and Oregon Transc0ntinental
II, other shares off / to I. Tho sales Of
Lackawanna by room traders were very
heavy. Tho bank statement was unfavor-
able, showing loss in reserve of $l,750,0O0
Between 12 and 2 o'clock tho market con.
tinued weak, Mt about the lowest prices o
the morning, and there was much less activity
The Willard and Vanderbilt stocks were til,
weak features. At 2:15 stocks were
fraction below the lowest prices of thu
morning, and business was in n demoralizeG
condition. The rumors of trunk line troubles
were emphatically denied, as was also rumor
of damage to the corn crop, but the close wa'
weak and irregular. Some shares rallied Il
], but the most of the list sold at the loves
prices of the day.