National Republican., 1883-07-10
THE MARKETS.
The Bears Have Day ALL to Themselves in
the Stock Exchange.
A General Falling OF on UnfOvorSblo
Reports From the West.
GOSSIP OF THE HOUR.
Speciui Dispatch.


days market and prices sustained themselves
1t was a natural market, with the usual mid
summer Saturdays dullness The bears sold
few stocks in the morning, and they claimed
to know of inside liquidation in Lake Shore
and the grangers, butthe largest room traders
said at tho closing that they were strongly
inclined to purchase on every reaction.
strong bull pool has been formed in Union
Pacific, and the purpose is to put the stock up
this week. The leaders have been buying
for several days.
The Northern Pacific people say cash
dividend of 81 to per cent. will likely be
declared soon upon the preferred stock, and
this announcement will probably be followed
by sharp upward turn. There is also q pro-
posed bull movement in Ontario and West
ern, and some of the largest houses in Wall
street have been buying this stock recently
on this point. Philadelphia purchased
largely Saturday of Jersey, and one lot of
5000 shares was paid for and taken out of
the market.
Rumors concerning stock dividend on
Northwest were revived ID. o. Mills, di-
rector, encourages this feeling. Mr.. Morgan
likewise believes the rumor will be true some
time this year, and his friends say he is long
of the stock. 1t is hardly probable that
cent. scrip is likely. Private advices from
SSt. Louis report crops all along the Missouri
Pacific railway are promising, both in guam
tity and quality.
The Chicago Times specials this morning
report the recent rains beneficial in the west,
and farmers are greatly encouraged by the
situation.
Woerishoeffer said last night that crop re-
ports are too rosy to be true, and the railways
will all show losses until Dec 1 and crops will
be disappointing. He is o strong bull on
grain and very bearish on Erie, which he
regarded as tho best sale on the list.
The Chicago Tribune this morning says
Eastbound shipments last week showed q
decrease of 1000 tons, and the loss would be
greater but for free shipments of lard owing
to low prices The bulk of the business
continues via Erie and the Grand Trunk and
Pan Handle lines.
This leads strongly to the belief that the
roads are fighting for shipments The fact
that the lines which are getting the bulk of
the traffic all connect with the Erie leads to
the suspicion that the latter Is cutting rates.
1t is certain, if business continues to be di-
verted over the newest lines, there will be
trouble soon.
The bears hammered the market from the
opening. Bogert offered New York Central
in 1000 share lots Walsh and Bell hammered
Erie; Flower was the largest seller of New
York Central and Wormser and Thomas
Reid were the principal buyers. Brayton,
Ives, Marx, and the room traders offered
Reading and Boody. Mcclellan sold.
Brayton and Ives were the largest sellers of
Delaware and Lackawanna. kirkner sold
st. Paul, and Baldwin bought r. p. Flower
d. Co. sold Western Union
REVIEW.
The market opened to per cent lower,
the latter for Lackawanna. The bears ham
mered the general market under cover of
New York Central until noon. The room
traders offered Reading down. Stocks were
rather more plentiful in the loan crowd, and
averaged 3 Jersey was scarce, and 35 was
Money 81. Sterling unchanged. Govern
ment bonds dull in anticipation of a govern
ment call. The closing London market re-
ported American stocks weak.
The second call stocks were dull at about
the lowest figure, with Johnes hqmmering
the grangers, and Bird selling Reading. Jer-
sey was sold at s54 to s6l, seller 80. Tho
bulls were tired, and the bears afraid to follow
up their advantage. Consequently the traders
had full swing. New York Central sold
down to 11s3. Thayer and Henriques sold
considerable New York Central, and the
bears had stories affecting the condition of
the road, &C., and its rolling stock.
The decline in Vanderbilt's up to 2:15 p. IN.
was to 4, the grangers J, Reading l, Union
Pacific :, Wabashes, to t. (the latter in the
preferred stock,( Northern Pacific stocks to
l. Texas Pacific !, Erie 4, Denver II, and
Missouri Pacific L. After 2:15 p. m. there
was slight reaction, the general list advanc-
ing to }.
1t has been evident for several days that
the bull leaders were filled up with stocks
which they have not been able to sell, and
that the only way out of bad box was to
run" The cold weather in the west, the
decrease in east bound tonnage of nearly 12,-
tnps lact aud h., ..
support helped the bears in their efforts to
depress the markets. The fractional rallied
near 2:30, but did not hold. The market
again gave way, and closed at lowest prices
of the day.
LONDON, 1:30 p. M.-United States bonds
unchanged; Lake Shore, 9.16 lower; St. Paul,
! lower; Wabash Pacific, higher; Louisville
and Nashville, higher; Erie, lower New
York Central, lower; Ontario and Western,
lower
LONDON, July 9.-The Mark Lane Express
in its review of the British grain trade dur
ing the past week, says the favorable weather
has boon of the greatest benefit to the crops.
Trade is quiet and slightly in favor OF buyers.
Foreign wheats are depressed, there
being an over supply. The best brands
OF -four are unchanged, others are
somewhat cheaper. The trade in cargoes
off the coast is stagnant There were eleven
arrivals during the week and one sale. One
NuISO WAS anu tleNcu IeIlulll, Oh
which four are California cargoes, The sales
of English wheat during the week were 80, ,533
quarters at i2s. Sd, per quarter against Al ,04l
quarters at AS. I'd. during the corresponding
week last year.
LONDON, 4 p. M.-Amerlcans close weak.
Specldt Dispatch
CHICAGO, ILL, July 9.-Wheat was un-
settled aud weak. The bears were en-
couraged by the fine weather and the alb
sence of shipping demand, The weakness
and depression in provisions also operated
adversely, and prices declined | cent, fuc-
tuating rapidly. The bulls were making
strong efforts to sustain prices, but found
little outside support in the way of business
orders After noon there was a further decline,
and prices closed q to "a cents lower than
on Saturday, July, D9l; Aug, 99i Sept.
Sl0l1. Corn closed II to lac lower than ON
Saturday; July, AT Aug, 50 Sept, so.
Oats closed 7 TO llc. lowori July, 3ii; Aug,
254; Sept, IA Provisions were influenced
by yellow fever reports. Pork closed
95c. to Sl.024 lower than on Satur-
day; July, Sltl0i Aug, SI4,25;
Sept, l4.42g. Lard closed ga to 35c. lower
on Saturday; July, $3.50; August, 1915; Sep
tcmber, SSS7A Short ribs 40c per 100 pounds
lower; July, S722l; August, ST,32t; Septem-
ber, $7.47!. Hogs 200 lower, at S5.45 TO 625;
receipts, 81 900 head quality extra. Cattle
weak; shipping steers 50 to 9, but scarcely
any over s.; receipts, 5000 head.
GRAIN AND PROVISIONS
Following are opelg hgheSI, lowest and clos.
ing prices on Chicago board of trade, corrected
by special wire reports To Cooke IL Co.. brokers'