National Republican., 1883-08-08
THE MARKETS.
Stocks Were Firmer at the Opening and Prices
Advanced a TriAe.
Rumors Of Further Strikes and Their Eff
Ccct-Wire Cutting.
THE DAYS GOSSIP.
Specidl DisDdlch.


NEW YORK, Aug. 7.-Tho weak and indf-
ferent feeling prevailing at the close yesterday
produced q bearish sentiment among most of
the operators at Long Branch last night,
mainly owing to the strike and its probable
effect. The general impression prevailed that
it would be long fight. The sympathy of
the street is unquestionably with tho strikers,
and it is believed that the teegraphors of the
various roads which have not been mentioned
are going out soon. The bears who were cred
tied with being the largest sellers yesterday
say that but for the forced sustaining orders
the market would have closed very demoral-
lied and much lower, and this class of traders
predict lower figures all around to-day. They
claim there is no disposition on the outside to
buy for an advance and the cliques are forced
to take certain specialties in order to pro ,sscN
what they have already accumulated. 1t WA
reported last night that the Western Union
Telegraph company had released the railway
companies from tho agreement in contracts
regarding transmission of commercial mes
sages in order to release the roads from em-
barrassment. WoerishoefTer has come to the
conclusion that America is going to have no
surplus crops to export, and that the prices
are too low abroad to make shipping from here
profitable. The earnings of the Omaha road
show an increase of $l31ss for the fourth
week in July, and for tho month an increase
1f $7437l.
1t is stated that the Boston houses brought
down by Shaw's failure will pay about 90
cents on the dollar. 1t is said on the street
that the gross earnings of the New York
Central for July show a decrease of over
$6,000,000.
The market opened frmer, with rather
more buying orders, Charles Johnes bidding
for various stocks. Van Emburgh bought
Lake Shore; Harmed bought st. Paul
Jameson, Smith, and Catting, and Prince and
Whitley sold Western Union, and G. Johnes
bought, covering shorts Van Emburgh also
bid for telegraph. Benedict bought Union
Pacific, and Denote and Durant, and Boody,
Mcclellan d Co. sold.
Special pressure against Wabash stocks and
the room traders forced the common down to
10 against 21, the previous sale on stop
order. Mark Hamilton sold Wabash pre-
ferrcd, and Hunting and Henriques sold Wa
bash preferred. Desmaret sold Western
Union which was depressed upon the cutting
Of large number of eastern wires last night
and the announcement that the Baltimore
and Ohio railway operators are ordered out
1t noon to-day
An officer of the Southwest System says the
operators have been ordered out on three of
the Gould roads, but have not gone. The
Lackawanna people say only few men have
left their work, and trains are running as
usual. It's stated that no official notice Of
any strike Of operators has been received by
officers of the Chesapeake and Ohio railway.
Gould is on route from Newport on his
yacht and will be in Wall street tomorrow.
1t is announced that the wire cutting of east
ern lines last night badly interrupted the
service, but most of the wires are again o. h.
The Chicago and Alton railway have with
drawn from the st. Louis freight pool.
REVIEW.
The market opened firmer and with con-
siderable activity in the Gould stocks, which
rose to 4 on covering by shorts. EARLY in
the forenoon there was strong pressure to
sell the Wabashes, which continued up to
noon, resulting in general decline of to 81
per cent, the latter for Wabash common,
which was sold down to 10 by Nat Hunting.
"a The Gould stocks were the weakest features,
but Northwestern common, Jersey, Canada
Southern, and Oregon Transcontinental were
also without support. The fairly sustained
stocks were st. Paul, Union Pacific, Read
ing, Lackawanna, Western Union, and the
Northern Pacifcs. Mark Hamilton sold
Wabash preferred. Desmaret sold Western
Union, which declined on the announcement
chat the Baltimore and Ohio railway oper-
ators would go out at IL o'clock. Rumors
that an old Elmira IN. Y. bank was in trouble
contributed to the weakness of the general
market, although the reports were not con-
trmed. At noon the market was fractionally
improved. The announcement that the opsr-
GtOrs on the Baltimore and Ohio as we'll as on
the Chesapeake and Ohio roads had struck
was apparently tho signal to bull the market,
which was stronger on the second call. The
only stocks which were above the open
ing at 2:15 p. M were the New York Central
and Western Union, Bankers and Merchants
telegraph was very strong, and was sold up Co
1891. From 230 to the close there was bet
ter tone to the market, and the close was firm.
Western Union was l per cent. higher than
the opening price; New York Central per
cent. higher, the Others about the same as at
the opening, except Wabash common, which
was TX per cent. lower, and Rock Island
which was per cent. lower.
LONDON, 12:30.--Unted States bonds un-
changed Erie, ZIG lower; New York Central
lower; st. Paul, lower; Reading lower
STOCKS
The following are the opening, highest
lowest and closing prices of the principal
stocks for the day, as corrected by special wire
reports received by Bateman & Co., bankers,
No. 14l1 + street northwest:
z i ID