National Republican., 1883-04-12
THE MARKETS.
A Heavy and Disappointing Opening Followed
by a Fair Days Trading.
Large Stocks OF Grain and Plenty OF
Bears in the Chicago Market
GOSSIP OF THE DAY.
SnecioI DigDdfch.

NEW YORK, April ll.-Otutioi oui prov
expressed at the extraordinary strength OF
yesterdays closing. Even the bears now adj
nit that 10 is bull market. Brokers say that
Lackawanna looks like 1876 this month, and
report that there was no realizing in 1t yes
terday. II is said that ono director Of this
company is long 81, 100000 of the stock, and
another $750,000.
There was some realizing in Union Pacific
and st. Paul on the advance.
1t Is said that the largest general buying
came from the Rockefeller and Smith parties.
Mr.. Elliott is said to havo put up Lacka-
wanna on orders from Chaplin from Mr.. Smith.
The Gould brokers were not as prominent
in trading as on Saturday, but Sage says that |
Western Union is the best purchase on the |
list
1t is stated that Kansas Topeka, and Texas
Pacific were being nursed for an advance soon,
but parties inside are not quite ready. Tho
street is full of points to buy Richmond and
Danville but the commission houses fight shy |
of them. Further realizing goes on in Dem
yer. In general markets the houses which
have rich clientage say that they arc now
very busy, and report evidence that the pub
lie is "getting aboard " for further advance,
and number of large concerns say that they
bought more stocks yesterday than since
last fall. There are rumors of bull pool to
by 100000 shares of Central Pacific and
sharp advance in North Pacific common is
predicted to-day. j. G.. Mills says good
many stock concerns received messages fIom
their western customers yesterday asking
what was best to buy. Mills says the whole
country is buying stocks The room trades
alone are looking for reaction The Mills
party, who have recently been large lenders
of money, are now borrowers, and it is said
they are buying Louisville and Nashville,
Erie, Oregon Transcontinental, and Pacific
Mail.
H. N. Smith thinks that the advance in
stocks will hold until next August.
The market opened quiet and fraction
lower but subsequently, became frmer. The
Vanderbilts arc inactive. Probst offered
New York Central and Demott and Durand
sold Lake Shore. Lackawanna was sold by
Minis and Ryerson & Bart. Goicuria bought
Lackawanna Stocks are lending at 5per
cent. New York Central at 3 per cent; ster-
ling is steady and unchanged.
An indianapolis dispatch says that Judge
Gresham will soon prepare review OF his de-
cision in the case of the Tyson, trustee, &c,
Vs. tHG NhDdoh ihio ihnNOuu VI biN-
ing personal Judgment against the company
for tho amount of bonds and interest-now
about 81, 900 000-he will simply declare that
the bonds are o charge against the road, and
subject to all leases executed prior to their is
suing; in other words that the Wabash took
the old Toledo, Wabash and Western railway
subject to the incumbrance.
A Washington dispatch says S11,000OO0 in
bonds of the 120th call were presented to-day
for redemption.
Lake Shore earnings for the first week in
April show an increase of $l45,OOO.
REVIEW OF TRADING.
Tho opening was somewhat heavy and
rather disappointing. Western shares were
especially depressed by reports of snow
blockade in Minnesota and Dakota
The Vanderbilts were neglected, and
declined fractionally. Foreign bankers
offered New York Central, and Lack
awanna was sold very largely by
traders. The selling came mainly from the
room traders but they soon saw that there
was good outside buying, and Sfterward
bought their stocks back at higher prices. At
noon the general market was stiff and active
at the best prices of the day. Lackawanna
was the feature, and rose to 1901; Knicker-
booker and Nat Hunting were buyers. About
the only bears in tho market at present are
Louis Bell, Johnes, and Dickinson. Govern
ment bonds are firm for AS, but about
$2,000,000 of 3's were offering and wero
weak. Money ut to bid most of tho
day. Sterling was firm but dull and looking
upward. On the second call there was a
slight reaction from the best prices in some
of the leading stocks, but the quotations in
most cases remained about the opening figures.
The strongest features were the Northern Pa
ciGc stocks, which were bought by the Willard
party aud the Vanderbilt party. Oregon
Trans Continental was bought by the Mills
party Lackawanna was the feature
of the day, about $4,000 shares being
sold in an hour, at between 129t
and 1904. The East Tennessee stockswere very
strong.
At 1850 o'clock the whole market was buoy
ant and higher than in the morning. Lake
Shore rose to 1l3h and New York Central to
125b. In the last hour there was some real
izing and prices at 2:30 were / to off, with
money ut 5 to 9.
Shortly before the close there was frac-
tional rally, and the market closed strong,
with promise of higher prices
kilograms to Robert Bruce say the weather
west is beautiful, Stocks of grain ON hand
are large, especially corn. The bears are
Numerous, but some one seems to be buying
largely Corn is ON legitimate basis and
will 90 higher, even though it may rccede
little from the present price. Wheat is strong
and safe to buy.
LONDON, 12:20--St Paul and New York
Central, higher; Erie. J ; others /, 4
higher; bonds unchanged.
STOCKS.
Tho following are the opening highest
lowest, ana closing. prices of the principal
stocks for the day, as corrected by special wire
reports received by Batoman u Co., bankers,
No. 1411 + street northwest: