National Republican., 1883-02-20
THE MARKETS.
The Failure Of q Chicago Iron Firm the Excuse
For Another Fall in Prices.
The Big Operators Seem 60 he the PrinCi-
pal Sellers General Gossip.
Special Dispatch.
REVIEW OF THE DAY.


NEW York, Feb. 19.-The market at the
opening this morning was from to per
cont lower than at the closing on Saturday.
There was largo number of selling orders
from the west and also from Boston. The
failure of the Ayers Iron Manufacturing
company of Chicago proving much more
serious than reported on Saturday was the
strongest influence in depressing the market.
On every fractional rally the market was met
with free supply of long stocks and barely
succeeded IN holding its own. Keene, Cam
mack aud Osborn were free sellers of tho
market during the entire day, while Woeris-
hotter has covered some shorts. Money was
offered freely at 3 per cent; sterling ex-
change lower.
GOSSIP.
AT the stock exchange they are taking sub
scriptions for relief of the western food suf-
ferers.
Scranton & Willard bought largely of Wa
bash preferred at the opening. They sold
Delaware aud Lackawanna largely at 1ss.
Lawson Douglass and Stout & Co. sold Eric,
and Burras bought $4,000 shares Of the same
stock. There was no important early trading
in Lake Shore, but Hollins aud other Wander
bilt brokers have orders to buy.
The market was at first depressed by the
iron failures and fears of others which may
follow.
+. X. Willard has sold about 5000 shares of
Union Pacific since Heath stopped selling
this morning.
prominent bear house on Broadway tele.
graphed their customers that the market was
liable TO have further sharp decline, and
say there is something quito unfavorable
likely to come out to-day or tomorrow. They
are selling the coalers quite freely. Govern
mcnt bonds were dull awaiting adjournment
of congress; money at 81.
The Vanderbilt brokers have been buying
Canada Southern, and Barton takes the stock
freely ..4s... .......
Keenes brokers say he is violent bear
this afternoon, and is depressing the market,
predicting general break down this week.
All kinds of stories are circulated by the
bears, most of which are unfounded, one be-
ing that.the Reading will issue 10000 shares
new stock, and that Huntington has de-
manded percentages on trunk lines for the
Chesap cake and Ohio road
Heath has sold largely of ST, Paul and Union
Pacific. Osborn has gone south. Kceno is
talking bearish
New York Central Lake Shore, and Della
ware and Lackawanna lend from to 2; Union
Pacific fiat, and others 2 to 3. Money is of
fered Mt 3. ta'
A Chicago dispatch says the through rate
by the Peoria line is 3S cents STILL which is a
cut of cents,
Sterling Exhange is demorlized, and about
cent down.
1t is stated in financial circles that the
Ayers iron failure is much more important
and extensive than first reported, and other
iron interests are jeopardized.
The Wabash and Pacific company has APP
pealed from the decision Of the Ohio and In
diana state courts on equipment bond legality,
and this will postpone the question q couple
years. North Pacific earnings for the second
week in February increasd $35174.
The, market ga)lied very little toward the
close, and brokers went home on the fence as
to the future course Of prices
MORNING GOSSIP.
The average feeling on stocks at the clubs
and hotels yesterday was naturally rather
feverish and uncertain, owing mainly to the
weak and unsettled closing up on Saturday.
1t was reported in railway circles at the
Windsor that both the Lakeshore and Michi-
gan Central railways were not running
through trains to Chicago very regularly,
owing to the freshets aud losses of
bridges, &c. There is very large
amount of eastern freight now en- route
over the trunk lines and the official reports
Of last week makea'theh total tonnage $1,000
to ms, or an increase of $4,000 over those of the
week before. The bulls, or the better class
of dividend paying stocks, continue to keep
stiff upper lip and say there is much
better chance for improvement before tho
end of this week. The better class of traders
believe the general list Is grounding on bot
tom and say buying is being done moderately.
The friends of Union Pacific are very con-
fident that the lowest range of prices for the
latter, which will probably be seen again this
year, was made early last week when the
stock dropped TO 9,l. When the government
report is issued they believe there
will be a large volume of new invest stment
demand. Gould tells his friends that
Notwithstanding tho many annoying tele-
graph Interruptions in the west on account of
floods the Western Union company will very
probably earn S2O00O,000 this year.
The brokers say there was some short SELL
ing of Michigan Central on Saturday on the
announced suspension of travel, but Mr.. Bar
ton bought all the stock which was offered
down to 92. Cammack Scott, Osborn, and
W0erishoffer continue furious bears on the
market, and il is said they have been endeav-
oring to get out of their long Denver. Slay-
back was sent in on Saturday morning to bid
up the prices for Cammaok to unload upon,
but the market would not take any stock.
Cammack says he has covered up his
shorts in Union Pacific, but is still
short of st. Paul, Lackawanna, aud Beading.
Scott is bearish, and says things look darker
daily. The only hope is in a good crop, for
which there is already an assured market
abroad; but then harvest is uncertain and wo
have no crop assured. Mr.. Dillon was at the
Windsor yesterday, and remarked that the
Union Pacific holds fifty-four million
of assets, which yield an income of two and
three-quarteTs millions. The government re-
ports, he says, will show debt of only about
five millions, which the company can pay Off
in no time The earnings this calendar year
are 100000 ahead, and would be larger but
distractions ON other roads by snow and ice.
The Union Pacific has been open all the year.
STOCKS.
Tho following are the opening, highest,
lowest and closing prices Of the principal
stocks for the day, rs corrected by special wire
reports received by Bateman & Co., bankers,