National Republican., 1883-08-11
THE MARKETS.
Everything but the Indiana Bank News Seemed
to Favor Higher Prices Yesterday.
Probability that the Strike Is Ended-Con-
tral Pacific Gossip-Tho Western Trade.
GOSSIP OF THE EXCHANGE.
SDecfgk DlSpdtch,


vative commission houses still advise their
customers of mode rate means from operating,
at present on either side, aud tell them to
await the course of speculation becoming
more clearly pronounced. Confidence Is re-
turning with hardening prices, and some peo-
pie consequently express tho opinion that the
market has fairly turned. This is Sage's
idea, and he believes the rally
will be sustained. Goulds friends say
he expresses confidence in q higher market,
aud he will take all the Western Union that
the bears offer. The Smith Morgan people
are encouraging their following to buy, and
say yesterdays movement in Denver was tho
turning point The street says that the post
ponement of tho Denver election for q week
is to allow insiders to buy or sell stock, and
jobbing Is at the bottom of It. William Heath
was large seller of Denver. New York
Central stock lent up to 1-32 at one time yes
terday. William and j. OBrien were heavy
buyers of it yesterday.
Philadelphia houses here declare Northern
Pacific stocks great purchase, and bot
tom prices will be 40 and So. Woerishoeifer
talks very bearish on Union Pacific on do
creased earnings. 1t is understood that Sage
has been calling in some loans, and is en-
deavoring TO stiffen money.
Stocks are lending at about the same as
yesterday; New York Central, fiat to 1-64.
Bissell bought Northern Pacific preferred
Kissam bid for New York Central; Moulton
sold Northwestern. London brokers are
selling Erie; Youngs & Morse sold Erie
freely, and l.. l.. White bought. There is no
feature in Western Union, except dribblng
sales of long stock. Money loaned at to ct.
The Boston transcripts New York special to-
day says negotiations have begun with the
strikers as individuals, and that great many
competent men will resign from the brother
hood Saturday night.
Johnes and Henriques sold Central Pacific.
The Germans bought. Wabash preferred was
sold mainly by Dominick and Nicholas. The
bears have covered most of the Oregon Trans
continental shorts and are indisposed to sell.St.
Paul. Government bonds are strong on light
offerings. About 100000 worth of Tennes-
see state bonds have been received by the
funding authorities, but no new bonds have
yet been issued. A Philadelphia telegram
says stocks are heavy, and the loaning rates
ore generally up to per cent.
A telegram from Newark, N. j., reports
wreck on the Jersey Central this morning,
owing to broken wheel on coal train loss,
$25,0O0.
Specials from Chicago say the weather is
generally favorable in the west and crop ad-
vices good.
Several first class telegraphers returned to
work at the Western Union main Office to-
day, and the leading operators intimate that
the strike is practically over. A number of
strikers will wait upon Gen. Eckert this after
noon to arrange for return to their instru-
ments probably by Saturday night
leading Chicago grain and provision house
just telegraphs to a leading Broadway stock
house, that the markets there are declining
on rumors Of runs on other small banks in In
dianapolis, and there Is also some trouble in
Cincinnati
Vice President Huntington, of the Central
Pacific, says neither himself nor Crocker have
sold a share of long Central Pacific stock for
twelve months, and there is no truth in the
rumors that President Stanford has been SELL
Ing.
The outlook for business, Mr.. Huntington
says, is good, and he has every reason to be-
lieve that the regular dividends will be paid
The July net earnings are expected to show
an increase Of 100000, with smaller expense
ratio than last year.
REVIEW OF THE Days TRADE.
The net result of the forenoon's business
was decline of to per cent, the latter on
Central Pacific, which was sold by the room
traders. 1t was reported that Gov. Stanford s
health was precarious, and his stock had been
ordered to be sold. During the morning hours
the trading was large. The opening was
about steady, but later there was some raidng
of Denver, Northwest, Central Pacific. and
Union Pacific. The Vanderbilts and Cen
tral Pacific were fairly well sustained at
the opening. The Germans bought Cen
traI Pacific. Money was at 2 to %,
and stocks loaned at the same rates as yester-
day. Exchange was unchanged and govern
ments were strong The lowest prices were
made at noon, but the market recovered on
the second call to per cent. on proba-
bility of an early settlement of the telegraph
muddle. At 2:l5 the rally was lost and the
hnmmara1 rnt
entire list yielding with prospect of a clos
ing far below the opening. At 245 the room
traders made raid on the market, and some
large stop orders were captured. The market
closed weak and panicky.
LONDON. 12:3O-United States bonds I'M
changed Erie lower; New York higher
Wabash preferred higher; Denver II higher;
Illinois higher; Reading lower.
THE CONDITION OF TRADE.
By associated Press.
NEW YORK, Aug. 10.-R G. Dun & Co.'s
weekly circular contains the following: An.
other week of quietude in business circles
has been experienced, with a volume of trade
restricted to narrower limits than for some
time past This, however, is to be expected
owing to the season of the year and the want
of confidence which seems yet to prevail.
The crop prospect is, however, so good and
the stocks of merchandise in retail hands SC
limited that the general necessity for in
creased activity is evident. Preparations
for the autumn trade are well ad.
vanced, and for legitimate business
the promise is certainly satisfactory
Money continues most abundant at rs
low as ID per cent. on call, and at per cent
yearly with good collateral. The failures fol
the week have not been significant of any
peculiar danger in the condition of Legitimate
traders. 1t is true that the disasters reported
are in some respects marked in character, but
they are the result OF speculative movement.
or universe expansions in unrealizable assets
The general business tone of tho country. SC
far as the interchange of products is con.
cerned, seems to be even moro healthy and
promising than 1t any time since the com
mencement Of the year.
In the grain market the tendency has
been generally upward, but ii is irregular
and with not much decided strength
Provisions are irregular, closing witt
rather more strength and somewhat
better feeling. In petroleum the advance
made in the early part of the week has been
about all lost. Freights are stronger. Woo
trade dull and satisfactory. Cotton shows q
moderate amount of business doing without
any material change. The coal and iron
trades present no special features, but in the
iron trade the feeling is more satisfactory
Dry goods are improving, and in some de
partments there is a good deal Of activity
In Rio coffee prices are firm, Raw sugars arc
in small demand; prices upheld. Refined
sugars are fairly active at unchanged rates
Choice butter is in good demand. Cheese
unchangedl
There were 1872 business failures through
fka T,sN N,I GNntan I'D aI