National Republican., 1883-08-31
THE MARKETS
Badly Hammered, with Little Inside Selling
of Stocks.
Nerthern Pacific Preferred Noted as the
Weak Spot.
GOSSIP OF THE STREET.
yDecidL DfeDdkcb.


NEW YORK, Aug. 30-The general feeling
is not very bearish, and the market is easier
this morning despite tho lowor closing yes
terday. There is an impression in conserva-
tive circles that the market has been exces-
sively hammered, with very little inside
selling of long stock. While the street con-
tinues quite bearish, the room traders advise
purchases on every reaction.
The weakness in Lake Shore yesterday, it
was claimed, was more apparent than real,
and IL was noticed at closing that Thorne,
the broker who recently sold this stock
down from 103, seemed TO have un-
limited orders to buy it back at
about 99l. There were no bear rumors
afoat, but general opinion was current that
Woerishoefier, Smith, and Keene had been
selling The two former agree that the whole
movement at present simply amounts to q
brokers' market, but Smith says it will end
in higher prices.
The foreign houses report no buying from
London yesterday of any account, and the
foreign buying has become light Money
lenders are lamenting over the decline in
loan rates from A(11 within the last two days,
and say the market is glutted with funds; (;
the treasury disbursements and plentitude of
time money in market affecting rates.
The weak spot in the market on opening
was Northern Pacific preferred, which was
Schmidt. and the traders. The largest buyer
was Thomas Young. Orders were given last
night to break this stock below this morning
In Lake Shore Enos was the largest seller
Drummond bought, and so did Wormser. In
New York Central G. F. Dickinson bought
1900 shares, and Wormser bought the same
amount. Harvey Durand also sold New
York Central. Davis & Mems bought Central
Pacific. st. Paul buyers were Lavenburgh,
Clews, and Lansburgh. Money lent ut in
the forenoon; Jersey from 1-64 to 1-32; Louis
vile fat to 1 Lake Shore, !; Lackawanna
l; Union Pacific, /, and great many West
Shore bonds were lending for l. New York
Central was fat and 1t was said that Woeris-
hoeffer was supplying this stock in conse-
quence of sellers Cos of yesterday.
w. L. Stone sold 1000 Northern Pacific pre-
ferred. Big Schenck also sold, and Ellison
was a considerable seller. s. V. White
bought.
1t is reported that Woershoeffer has been
buying in shorts in London to-day through
iobbers. A new bull party is said to have
been formed in Louisville
The decline in Northwest on the second
call was on large sales by Dickinson and
Stone. There were also rumors of colder
weather in the west, but a private wire just
received reports Chicago 81 in the shade
REVIEW OF THE MARKET.
Tho stock market opened with the bears
hammering at every vulnerable spot, New
York Central seeming the great objective
point The buying to a certain extent by
strong parties was a feature on the opening
There was fierce drive at Northern Pacific
preferred, driving the price to 69f and
though it afterward strengthened II per cent
tho rally was subsequently,, and the price
touched bottom at 691. This depression was
without effect on the rest of the list and at
IL o'clock prices were firm, and at ~ o'clock
were strong at ! to IL above the opening.
Iatt fnr T.nni Nnrt 4
per cent. Western Union was featureless
after the improvement, which was in small
lots on room trading. great deal of stock
came, and the market had a downward tend
ency. On the opening the Villards were sold
by the room traders, assisted by Enos, Vyse
and Schmidt Money lent in the afternoon
at 21@3; Jersey lent 1-64 to 1-32; Louisville
was fiat to l ; Lake Shore, Lackawanna, and
Union Pacific each, and Now York Central
fiat. Western shares lent at l, and govern
ment bonds Were strong. Sterling was dull
and unchanged.
The Northwestern declared the usual quar-
terly dividend of 2 per cent. Tho decline in
Lake Shore on tho second call was on sales by
Bell, and there were rumors of trunk line
troubles. Dickinson and Dow sold North
western down 3per cent on the rumors of un-
favorable weather west, but private tele-
grams say the weather is warm and pleasant.
Other stocks were i@4 from best prices, but
still above the opening. The Willard stocks
were lower than yesterday, Northern Pacific
common touching 352, and preferred 69S;
Oregon Transcontinental selling at $50. The
exceptionally strong features to-day were
Louisville, in which there was new bull
pool, and Jersey and Denver. These three
were above the opening at 2:15 Just be-
fore closing the whole list advanced on shorts
covering, and some good buying took place
The market at the close was firm at the days
highest prices.
II lower; Lake Shore, II lower; Erie, !
lower; New York Central, lower, and Read
ing, 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 Co., bankers,
Il OR