National Republican., 1883-07-07
THE MARKETS.
A Slight Advance in Stocks Cheers the Wall
Street Operators.
A General increase I'm Railway Receipts
The Provision Trade.
GOSSIP OF THE EXCHANGE.
Snec,nl Dfsnnich

Spectul Dispatch.
NEW York, July 6.-The brokers report
that the bears attempted to cover some shorts
yesterday and tho bulls Immediately forced
the market up on them, hut the bulls declare
that the real cause for the advance lies in the
fact that no quantities of long stocks were
offered and that the market was oversold, so
that any demand causes an advance imme-
diately. The unexpectedly large increase in
the June earnings of the south and western rail-
ways and favorable crop reports have given
renewed confidence to the large traders for
higher prices. There were few buying
orders in the room yesterday from Saratoga,
and tho feeling there is reported as quits
bullish.
The treasurer Mr.Tows) of the Rock Island
road reports that tho general business is
larger this year than last. and that the Juno
earnings have increased 100000.
The considerable loss in specie and de-
crease in the bank of Englands reserves
last week is explained by large semi-annual
interest disbursements on consuls.
Woerishoefler says the Union Pacific COM
pany is probably responsible for the war rates
with the Denver by cutting coal rates.
Woerishoeffer is bearish on the whole
market and declares the insiders are stuffing
the buyers.
Frank aud other Germans covered their ST.
Paul yesterday, returning tho stock to-day.
Smith & MorgQns brokers arc buying St.
Paul this morning.
Dominick & Dickcrman and Tileston sold
st. Paul.
In Western Union tho buyers were Law
son, Douglass, Holister, and j. S. James and
Lawrence Bros sold Union Pacific and
Western Union. Chase bought considerable
Jersey, Earl and Dayton bought Northwest
ern, and Ballou bought LacSawanna. A good
deal of short Jersey Central been bought in,
but tho stock remains practically cornered.
Delaware and Lackawanna holds firm, and
insiders say the books, before closing showed
that outsiders had bought largely. The
largest buyers of Northwestern have been
Leavitt, Nichols, Willard, and Marx.
Brokers say more long stock is offering than
yesterday.
reason to believe that Secretary Folger will
issue a call for $25,oOO000 bonds in u few
days.
REVIEW OF THE DAYS BUSINESS.
New YORK, July 6.-The market opened
active at to advance, under strong buying
and with firm undertone. There was more
stock offering than yesterday, and by noon
there was a partial reaction and dull mar
ket. Lackawanna was the leading feature
Ol inc luurkeU. ~ BOOu ueul Oh SnOTU JOIbey
Central was bought in, and brokers say ii
is virtually cornered. Northwest was
very strong under buying by the Vanderbilt
following. Wabash preferred was strong, and
William Heath O'Brien, Osborn, and Cecil
Ward & Co. bought. Won Hoffman sold Wabash
preferred Government bonds were firlner
sterling steady and unchanged. Jersey lent
ut 1-32 for the use, undertaking by Smiths
brokers, and New York Central lent fiat
Other stocks lent at g. Money was drug at
81
On the second call the market was stiff al
/ the best prices Of tho day, but the heat was
almost insufferable, and few traders could re-
main in the room. Consequently the trading
was dull. 1t was reported that the govern
ment would soon call for twenty five millions
of bonds ut 230. Stocks were steady, but tc
| of from the highest prices of the day
The market closed steady, with avery firm
nndertope to stocks
LONDON, 12:30-Erie, ZIG higher; Read.
ing, higher; Ontario and Western, / higher
New York Central, lower Illinois, lower
United States bonds, unchanged.
In Now York the weather Is clear and very
hot. -
Special Dispdich.
CHICAGO, July 6.-Wheat opened weak
but advanced IL cents under the manipula
tions of the bulls who were anxious to sell
The feeling was nervous. Shipments were
vs.
overstocks. At noon, it became weak and
closed only to higher than Tuesday. Re
ports of blight on Wisconsin wheat are falsC
and were gotten up to sell on, July GOT, Au
gust 1918, September 103t. Corn was un
settled. 1t advanced II cents under demand
to cover by shorts who feared a squeeze
When they were filled, the demand wa
slow and long options reacted to 4. July
4qt : August, 404; September, 50s, Oat
were active and 1! cents higher for cash anC
July Long futures We're without special at
tention. July, 35s; August, 90 September
20. Pork was unsettled. 1t advanced q
cents but when the shorts were covered til,
market became weak, and prices closed only
8 to 15 cents higher than on Tuesday, July
$15.2l; August, $780, September, Sl602t
Lard was quiet and shade higher. July
$9l2I; August, S9274; September, $935
Trading was light, mainly in settling con
tracts. Short ribs frmcr July, $500; Au
gust, $S.O5; September, $s.15. Stock dealers
predict large arrival of cattle and hogs thi
month. The quality is unusually good.
STOCKS.
Tho following are the opening, highest
lowest, and closing prices Of the principa
stocks for the day as corrected by special wir,
reports received by Bateman & Co., bankers
No. 14ll street northwest