National Republican., 1883-09-04
THE MARKETS.
The Long Season Of Liquidation Probably
Ended.
a Largely Increased Demand Tor Invest
ments-IndicatIons OF Rising Market,
GOSSIP.
Special Disputcn.


season of liquidation has probably ended.
The conservative houses declare that the lato
depression went beyond all reason, and
further than was warranted by condition of
the country. The dealers in fractional lots of
stocks report largely increased demand for
investment and estimate that during the
past three days 10000 shares of Vanderbilts,
grangers, and Willard stocks were taken for
investment paid for and locked up. This is
considered by operators as important indica-
tion of rising market.
Room traders are generally bullish and say
an advance is inevitable, and the improve
ment will contin ne unless there should be a
killing frost in the corn region. The brokers
report that large short interest was covered
yesterday in the Villards, and o rise in them
this week is predicted. Joe Mills says Van
derbilt told him Friday last that he consd-
cred Lake Shore the cheapest and safest stock
on the list, and that the company were doing
more prosperous carrying business than ever
before, and fully earning cash dividends of
per cent Tho Mills party anticipate
bull speculation in stocks if the
corn crop comes, out o.. K. Mr..
bought freely on Saturday. The movement
of east bound freights by trunk lines in
creases, last week showing S7,543 tons, 1000
gain over the previous week, the increase be-
ing mainly in grain. The Chicago, st. Louis,
and Pittsburg road got larger proportion of
this traffic last week, but this road is in tho
pool, and the percentages. will be evened up.
The foreign bankers report that their London
advices say American securities are scarce
and the main recent selling has been for
American account The bears cabled London
Saturday of large impending failure in
Boston, but William Heath & Co. telegraphed
denial Of the story. Leading German
houses here report that good deal of Lake
Shore Erie, and Central Pacific stock in ten
share lots is being shipped abroad, and it is
reported there will be a boom in Erie this
week on some new favorable turn in its cor
poration affairs. The Hurley failure in
Philadelphia Saturday was mainly on short
interest in 1000 shares of Jersey Central
serious accident occurred on the Con-
necticut railway yesterday near Crescent
City, caused by an open switch The engi-
neer was killed, the engine ditched, and half
q dozen cars derailed
CHICAGO, Sept. 3.-The Tribune says that
corn in Minnesota will be good if not nipped
by frost. Wheat, oats, barley, and rye are
mostly stocked and threshing commenced.
The drought in Texas is doing incal culable
damage to cotton and the CATTLE
Brokers hero arc buying up all the frac-
tional lots of Northern Pacific preferred
stock in the street, it being in increased de-
mand for lands purchased.
NEW YORK, Sept "a special Cleveland,
Ohio, dispatch reports rumors of an alliance
between the Wabash and the Lake Shore
roads, and o close alliance is very probable.
John Newell holds block of Wabash stock,
supposed to be for Mr. Vanderbilt, and some-
thing important Is surely going on.
WALL STREET.
The market opened under pressure of heavy
hammering by the room traders. The sharp
est attack was made on Lake Shore. Louis
Bell sold twenty-five shares of Lake Shore,
most of which was bought by Ben Garner,
and Bell offered 5000 more at 1924 to 102. Tho
other sellers were Walsh, Kirkner, John es,
Campbell, Henderson and Clews III. l..
Nichols sold largely Of Oregon Transconti-
mental. In Louisville, Van Deventer was tho
seller, and Ball and Sternberger & Fuld
bought. st. Paul was offered by Walsh,
Kirkner and Johnes. Van Emburgh bought
1000 shares of st. Paul.
In Delaware and Lackawanna Cross bought
and Drake Brothers and Goicuria were sell
ers. Youngs and True bought Union Pacific
The remainder of the trade was between
the room people. Western Union was bought
by j. S. James, Stone q Cummings, and
Baldwin & Weeks. The only seller was
Dunan. In Erie the main buyers were Law
renee and Harmed. The sellers were Hen
riques and Probst. Money per cent. Stock
rates for loans unchanged.
Savin bought 1000 New York Central, and
Dominick & Dickerman bought and Herrick
sold. In Lake Shore S. V. White and Slay-
back sold, and it is understood that Ben
Carver sold out the most of the stock bought
on the opening. Slayback has been hammer
ing Wabash preferred. Keene is great bull
on the market to-day.
A Chicago dispatch says the st. Louis and
San Francisco railway people report the corn
crop along the line, especially in Kansas, en-
tirely safe from frost.
The Denver directors, now in session, ex-
pect that Lovejoy will be elected president.
The Union Pacific earnings for twenty-nine
days of August show decrease of Sl2S,000
LATERAL the Denver meeting the prcsi
dency question was not discussed. The official
statement for six months ending the thirtieth
shows the net earnings to bo Sl,194,000; in
terest, taxes, &C., $1,144,240; surplus over
fixed charges, $164,000; principal Of rolling
stock trusts maturing, &C., S222,OOO.
REVIEW.
Stocks opened active, to higher than Sat-
urday's closing, but the pressure to sell forced
decline of ! on Michigan and on Reading,
these stocks being the most active, fca-
ture on the opening was drive at Lake
Shore, which yielded slowly, and later on the
buyers outnumbered the Sellers and the
stock ended by advancing to 1O3. At 12
o'clock the gain in the Vanderbilts was from
per cent Union Pacific rose IL, Northwest
preferred /, Denver Z, Delaware and Laclla-
wanna J, from bottom figures. The loaning
rates were unchanged, money 2 to "a. Cow
ernments firm, Sterling exchange unchanged.
There was an unimportant reaction at noon,
but by 1 o'clock stocks were again
strong, reaching the highest figures of
the day Early on the second call the
active shares showed these gains as compared
with the opening: Union Pacific, III Cen
trail Pacific, 1t; Louisville II; Omaha, Erie,
Northern Pacific preferred Oregon Trans
continental, and Charleston, each per cent.
Between o'clock and 2;30 the mark ct
reached and J, but tho undertone was
strong Transactions in the last half hour
were light, and the closing prices were to
1t lower than the days highest prices later
Oregon and Transcontinental, but the under
tone was strong.
LONDON, Sept. 3, 1:3O.-Ameriean rail.
ways strong. Erie, higher; New York Cen
. tral, II higher; Reading higher; ST. Paul,
l higher,
oovERNMESr BONDS
United states pss, 1891, registered -.... I2il Ii2Ss
United 1891. l1a,