National Republican., 1883-09-27
THE MARKETS.
The Mercantile Failures Causing Some Uneasi-
ness in Wall Street,
stil stocks Advance slightly-FavorabIc
b Reports OF Earnings-The Grain Trade.
TU00ITs
SDccldL DtgDdich,

ROOub anu ClObuluB LThueTS were tnc exciting
topics of discussion at tho hotels and clubs
last evening. 1t was claimed that there
would be further suspensions among the He
brew houses, owing to the refusal of tho banks
to discount any more single name paper and
the fact that these dealers havo indorsed very
largely for each other. There arc rumors
from Boston of two impending suspensions in
the trade, but no names arc men
toned. There is considerable sym
pathy expressed hero for Levy Bros. & Co.,
but not much feeling in tho trade favorable
to Mayer. in whose integrity there is but
little confidence. The largest dealers in the
trade say that, while business in woolons is
not good, there was no occasion for these sus-
pensions If the firms had stuck TO legitimate
trade.
Vice President Mccullough, of the Penn
sylvania Railroad company, said last evening
that the managers of the pool roads had very
harmonious conference yesterday, and the old
arrangement would be continued until 1884.
The percentages would be fixed to-day.
The Erie and William l.. Scott's roads were
admitted to the eastbound pools The COM
mittee has no power over the Chicago and
Louisville roads which arc at war, and tho
subject was not discussed Tho brokers re-
port that Woerishoeffor was tho main seller
of Lake Shore yesterday afternoon, after
curing large amount Of borrowed stock, and
it was his brokers who broke the stock. The
general idea at present is that the bears have
got the upper hand in the market, because
there is very little opposition from the bull
side, which is Just now deserted. The whole
market is frightfully oversold. Some think
the bear raid in Northern Pacific is over.
Cammack covered 10000 shares of shorts yes
fnr1aU but chnra
ward on the reported dry goods troubles.
Elliott offered the spring dividend ON $1,000
worth of Lake Shore yesterday for $3.50.
The Boston Transcript dispatch says it is
believed ID. o. Mills has sold his one hundred
thousand shares North Pacific stock.
In New York the weather was clear and
cool
The feeling among the majority of the
large operators in tho street is decidedly
favorable for higher stock market. Mr..
Gould says he does not know how the senti-
ment could be otherwise under present con-
ditions, and he is very bullish upon the situa-
tion. Osborne says he has bought large
amount of Lake Shore, and he is bull, and
Cammack says he bought in all his shorts
yesterday anticipating higher market. w.
l.. Scott is bull, and SO is Jim Keene.
1t was announced early in the day that
the Denver and Rio Grande directors
would meet in tho afternoon and elect
was the programme. Gould's brokers
have been buying Denver this afternoon. Tho
Noble suspension is now denied Brokers
generally reported but few stocks offering at
the board this afternoon. Lake Shore was
bought up by Jones' Henderson, Truman, and
Haight. The sellers were Clews and Elliott.
Sterling advanced on scarcity OF bills, aud
for the moment is steady. Money in London is
2t@21 per cent. Consols firm, and American
bonds are held for higher prices.
Kirkner Johnes, Chapman, and Dunan sold
Western Union this morning but they are
now supporting orders in the market. Elliott
has been selling Lake Shore again. Hughes
and Powers and Stephens sold the most North
ern Pacific preferred There is rumor of n
new bull pool in the Northern Pacific stocks
with some fresh English capital, but there are
no signs of it in tho board. Louisville and
Nashville is bought and kept steady by
Gould's and Sages brokers, and the point"
is out to buy this stock for sharp rise before
next Saturday.
The Lake Shore Railroad company directors
declared the usual quarterly interest payment
of per cent.
Brown Bros. advanced sterling rates cent
this morning.
The suit to test the validity of the lease of
the Jersey Central to the Reading company
has been adjourned to Oct %.
The earnings of the Milwaukee and st. Paul
for the third week in September increased
$92.950. The earnings of the Northwest road
for the same week increased $4,000.
Mccormick Adams & Co., of Chicago tee-
graph that tho weather is clear and cold there,
with frost in Leavenworth, Omaha, and Chi
cago.
j. X. Lane, q member Of the New York
Mining and Petroleum exchange, has sus-
pended.
1t is rumored in the stock exchange that
Mr.. Noble, a prominent builder of this city,
has suspended for $2O00,000.
The London and Liverpool Clothing COM
pany, of this city, it is reported, will prob
ably soon wind up, owing to losses in the
trade. 1t is reported that the Metropolitan
National bank is a creditor of i. Mayer & Co.
to the extent of 100000.
In Lake Shore the buyers were Wormser,
Campbell, and Buck. The sellers were S. V.
White, Henderson, kirkner, and Il. Rogers.
In Western Union Van Dyck and Williams
sold, and Coombs bought. But little Western
Union is offering. The dealings in Erie was
small. B. Il. Herts sold 1,j0O shares. North
ern Pacific trading is mainly confined to
brokers, and no largo lots are sold. j. NJ.
George sold the preferred Calm g. Co. bought
Oregon Transcontinental. In New York
Central Wormser Van Emburgh, and Herric<
bought, and Cummings and scattering brokers
sold the stock, There is good borrowing
demand for stocks. Money at to 3.
REVIEW.
Stocks opened at full prices and in some
cases to per cent dearer than last evening.
The latter in Northegn Pacific preferred,
which brought 63}. 1t is believed by some
people that the agony in this and kindred
stocks Is about over. The most active deal
ings on the opening were in the Wizards,
Lackawanna, Lake Shore, and st. Paul. but
the market generally was quiet and hesitat-
ing. Rumors of the embarrassment of a lead
ing cheap clothing establishment and also of
Appointment builder, were utilized by the bears
to depress values, but without much success
The usual Lake Shore 2 per cent dividend
was declared this morning. In this stock tho
buyers were mainly the big room traders
The dealings in Erie were small. Western
Union, in which but little stock was offering,
was sustained by orders. This stock seems
to be gaining position of strength by reason
of the steady buying by investors. The
stock is fast leaving the street. and is consid-
cred very cheap.
Tho coal stocks arc now about the only
weak spot In the market, and tho general
opinion is that they will have to sell lower
There was a decided contraction in tho
trading in the Willard shares. At II o'clock
prices were generally to above last nights
final sales. The exceptions were Missouri
Pacific, which was below, and Denver aud
telegraph, which were and below There
was very strong feeling in the room in favor
of higher range of prices. Osborne bought
largely of Lake Shore. w. l.. Scott is u bull,
and even Cammaok looks for n higher
market. Keene is also bull. Between l2
and o'clock there was uniform gain
in the active list OF to per cent, tho latter
in OrAunn rraugonutiuaptoI Fnnn ,narlynt