National Republican., 1883-07-18
THE MARKETS.
Indications that a Big Covering Of Shorts Has
Been Going On
The Telegraph Troubles and Their Effect
The Oregon Trnnscontinental.
SDecidl DisDdich.
TUESDAYS GOSSIP.


New YORK, July t7.--Brolscrs and traders
of the best average Judgment look for rally
in stocks to-day, aud bhso their ideas on the
belief that Woerishocaer aud Connor were
large buyers of shorts yesterday. Some opera
tors think that after rise of 1 to . per cent.
further Liquidation will follow; others think
that the bottom Was reached yesterday. Some
good buying orders came from Saratoga, and
one broker admitted that he bought $4,000
shares on such orders for long account, in
cluding Michigan Central and Lake Shore
The names of the investors could not be
learned. There is no truth in tho re-
port that Smith and Morgan had quar-
rel because Morgan ran out of the
pool Tho Willard people buy largely
of North Pacific stocks. Hollins & Co.
identified with tho Vanderbilt following)
bought q good deal of Lake Shore, and bets
were made by brokers that S1.10 would be
reached before 500 Tor Lake Shore. A tre-
mcndous large short interest in everything
was covered yesterday. WoerishoefIer de-
nicd that ho had covered largely only o few
special ties, and he believed that the market
would decline steadily. II. X. Enos sold in
tho board yesterday the 1884 dividend on
1000 shares of New York Central stock for 5
per cent, and it is claimed that there is con-
siderable liquidation going on in this stock
One banking house reports selling batch of
New York Central which had been held by
one party twelve years. Another threw over
board block of 1000 shares at 81 l6, which
was bought ut $l.20 few days ago for in
vestmcnt. Some Of tho large room traders
say that they have covered all their shorts in
Now York Central.
Prince & Whitley sold the most New York
Central to-day. Fanshawo sold 1000 shares
which cost hold Si.32. Lawrence & Smith
sold 1000 and Van Emburgh bought. Slay-
back was the largest seller of Western Union
on report that the strike will be u long one
and that Gen. EclSert will never conciliate
tho operators. S. " White has been the
largest seller of Lackawanna. Harry Wilson
is prominent buyer of St. Paul 1t is said
Gould returns here this afternoon. Louis
Bell and Kirkner have been Offering one
stock after another for the last hour. Heath
has bought Erie.
1t is stated the telcgraphers tomorrow will
decline to furnish Con. ECkert the list of New
York operators whom thoy represent. There
will beno strike tomorrow, and ii may not take
place until a week has been occupied in ne
gotiations.
1t is reported that Travers covered u line of
W,
hammered the stock,
The Oregon aud Transcontiuoutal state
ment for the year shows the undivided profits
of $2,SSO,0OO, which includes $1,S79, 600 of
Northern Pacific dividend scrip. The COM
pany holds l6,200 shares of the Northern
Pacific common stock and l51.00O shares of
the preferred, also 12S00O shares of Oregon
Navigation compaDy's stock.
REVIEW.
hn III
lowor. The best sustained stocks were West
ern Union, Union Pacific, Oregon Transconti-
mental, and Jersey Central. In the first half
hour prices fell to \. The general loaning
rate was ?; Now York Central fiat, and Jersey
1-64. Money was offered at 3, and sterling
fell on very limited dealings.
Early in the forenoon prices were firm and
afterward strong un,lor the leadership of
Vanderbilt and Gould stocks, the rally being
from to II. 1t did not last, and Just Before
noon drive was made at Central, and the
whole list declined to L. aud New York Cen.
tral suffered tho most New York Central
was sold largely by Prince 4 Whitley for
William r. Travers, who isa great bear upon
this stock, . . 'g
SlaybacR sold Western Union very freely
upon the belief that the telegraphers' strike
would be very stubborn one 1t is believed
that no immediate strike will take place, rs
negotiations will occupy the remainder of the
week. On the second call stocks were higher,
strong and dull, During the last hour the
frmness continued, but the oppressive heat
drove many traders from the board, and
trading was therefore light
Tho market closed firm with every appear
anCe of better prices for tomorrow.
LONDON, 1890 p. m.-Erie declined 4 IL
linois Central, 4; New York Central 4; On
tario and Western, d; Reading, /. st. Paul
higher.
STOCKS.
Tho following arc the opening, highest,
owest, and closing prices of the principal
stocks for the day, as corrected by special wire
reports received by Batoman s. Coz bankers,
No. llll + street northwest:
D 4 =, :,