National Republican., 1883-04-09
THE MARKETS.
Continued Improvement in Trading in the Wall
Street Stock Exchange.
A Review of the Past Weeks business
Prospects for the Future.
GOSSIP OF A DAY.
lSpecinl Rispdlch.

GOSSIP OF A DAY.
Special Dispa,oh
NEW YORK, April 7.-It is generally agreed
that present indications plainly show that
tho public is interesting itself more on the
bull side now than. at any time before this
year. Tho traders say that tho largest deals
yesterday were in Northern Pacific and Den
YER, with considerable now trading in East
Tennessee preferred. There is certainly now
strong party in the latter, and several Of the
largest and most conservative Wall street
houses were buyers for to 10 points rise this
month. large block is also held by the
Gould.Connor party for considerably higher
figures.
Mr.. Gould's people have been buying Mis-
souri, Pacific extensively for several days, and
there has likewise been liberal buying from
strong outside parties, who are in no manner
connected with the ownership or management
of the property, for 10 to 10 points rise this
spring Bets were made in the board yester-
day that Missouri Pacific would sell up to 100
before going to par again.
Denver has been bought extensively by
Van Emburgh and Atterbury, Ballou, os-
born, and that class of brokers' indicating
hotter are stin backing up Denver, and the
managem ent claim that they propose to take
from tho Union Pacific road this year three
millions of earnings, and from tho Chicago,
Burlington and Quincy one million.
1t was reported last night that probably
Gould would leave for the west to-day or
Sunday night.
Brokers estimate that 100000 shares of
shorts have been covered within the past four
days, and yet comparatively few have been
returned from the borrowing houses, indicat-
ing that large short interest is yet uncov-
cred. Kirkner is said to have bought about
10000 shares of his shorts yesterday. The
bears on Vanderbilts declare that they were
freely supplied by insiders yesterday, and did
not respond to the reports of increased earn
ings.
A report was circulated last evening that
Gould had bought Cammack's and Scotes
Denver at about 60 cents, and that 1t was this
that advanced Denver yesterday. Scott said
that there was no foundation for the story
that he had only slight interest in Denver,
and he did not know the reason for the rise.
Woerishoffer, who was present, said he did
not understand the movement either.
The market opened with a small attend
ance; stocks lending at 8, New York Central
ut A. Money offered at Van Emburgh and
Atterbury sold Lake Shore. DAWN bought.
Osborn's brokers sold st. Paul with scattering
buyers. Walsh sold Lackawanna, but the trad
ing is light in this stock. Sterling opened
unchanged 1t is reported from tho board
that Gould's brokers are large buyers of the
general market. Henry f. Smith says that
he is more bullish than since 1870, and be-
lieves that we arc on the way
to a big bull market with astonishing
advances. Kirkner is covering Union Pacific
this morning. The bank returns thus far re-
ceived indicate an increase in reserves of two
millions in bank statement. Chicago grain is
fat and lower. New York cotton dull and
the Messrs. Ranger estimate this years crop
at seven million bales. Government bonds
are firm at this hour, LOS p. M, stocks have a
strong undertone, and money is offered ut 5.
Sterling exchange is held at 1t to- Il higher for
Tuesdays steamer. Philadelphia dispatch
says there is no doubt that the lease of the
Jersey and the Reading roads has practically
been agreed upon, and will be perfected this
spring. United States AS are up to 1.20 bid;
q large lot of 3's were pressed for sale and sold
ut 1.03t,
REVIEW OF THE DAY.
The opening was dull and besitating, but
the market soon became very strong, with
money offering at and stocks at 8 per cent,
and this gave the bulls more courage and an
advance soon followed Gould's brokers
bought literally of the general list and there
was another rush from the bears to cover.
Kirkner covered lot of Union Pacific and it
rose point the first hour. Missouri Pacific
was the next bull card, and rose from 104a to
106, and Wabash common rose / point.
Henry N. Smiths brokers were liberal buy
ers of the general market, and he says
the market is good purchase. Government
bonds were firm for long bonds. On the sec
ond call stocks were very strong at the top
prices of day. Money was offered at 5. The
bears made drive at Western Union shortly
after noon, and Slayback Walsh, and Tappin
sold it down upon report that the general
term decision Of the supreme court on Mon
day would be againstthe company. Denver
rose to so, st. Paul rose to-day, and the Van
derbilts rose to /. Later Union Pacific sold
in large lots up to 80, and Il large block was
bought by Randall & Wierum up to tho top
prices
1t was reported that the Union Pacific col
lateral trust bonds would be negotiated in
Amsterdam at about 95.
Money dropped TO 493, and stocks were
active but shade easier at the closing hour.
THE BANK STATEMENT
xool ae tho folIn,uino nv hihit.