National Republican., 1883-06-20
THE MARKETS.
More Failures in Chicago Serve to UnSetue
Prices in Wall Street
Slight Decline In All Save Few
Stoclks-Tho Grain Trade.
GENERAL GOSSIP.
Special Dispuich.

bulk of business for the largest professional
operators in the stock market said last night
that they were comparatively idle yesterday,
and the room traders had it TO themselves
There were few stocks scalped on stop
orders, but not many, and tho commission
houses say they bought moro than they sold.
The largest room traders were divided in
opinion at the close but tho shrewdest ones
thought it would bo good policy to buy on
the "slumps." Sage said last evening that
the shock resulting from the Chicago failures
will probably pass away by Wednesday, aud
stocks will improve Immediately. The bulls
said they didn't expect much Of market
yesterday, but they do surely look for higher
quotations to-day.
Friends of Erie say the May earnings will
be more favorable than in April, but it is re-
ported that the Mills party have recently
sold literally of their stock and some of their
bonds. The leading bulls for the past two
months continue to talk bullish and higher
quotations. There has been some inside sell
ing of St. Paul within the past week, by par
ties displeased with the new stock issues.
The Union Pacific VS.. Leo, decision is expected
to-day, and it is known to be in favor Of the
Union Pacific. Phil Armour wires from
Chicago that matters are greatly improved;
25,000 tierces of lard were shipped TO Europe
yesterday,which had an inspiring effect. The
signal service reports telegraphic communi-
cation with the west almost totally destroyed
by tornadoes yesterday and last night, which
swept through Ohio, Pennsylvania, and the
southwest as far as tho Missouri accompanied
by floods.
The brokers report that Chicago has been
buying back stocks sold couple of days
since. The Germans are buying Erie 1t ia
higher in London than in New York. Heath
and Chapman also bought Erie.
George Dickinson sold 1000 shares of Erie.
In Lake Shore Jameson & Seymour Hunt
& Co., and Talcott bought, and the sellers
were Campbell and Louis Bell Beekman
sold New York Central, but little was doing
in II. White, Morris & Co. were given up"
on large sales of st. Paul yesterday.
Kirkner and Louis Bell offered Union Pa.
oihc, and have hammered the stock. Yester-
days buyers of Western Union were endeav-
ing to sell the stock this morning.
N. j.. Hunting and Wadsworth bought
Northwestern, Brayton and lvos bought 1000
shares of Delaware and Lackawanna, and
Jameson and Heath sold Lackawanna; TysaN
alsosold 1000 shares.
The earnings of Gould's southwestern sys-
tenn for the second week in June increased
$6I,754.
In Chicago July wheat sells at l.O6t, a de-
cline of 3 since last evening. August is
lower. The weather is clear; thermometer
73o.
The failure of NJ. s. Nichols & Co.,
large Chicago grain house, and their cor
respondent here, Il. II. Parks, is announced.
Both firms have ordered all deals closed, and
several blocks of their stock was closed out
under the rule.
Woerishoefier and L. L. Frank arc large
borrowers of the coal shares the former of
Lackawanna and the latter of Jersey Central.
j. Bouvier offered block of Reading this
morning at 50, seller at 60, but no takers.
Louis Bell is hammering New York Cen
tral, and the big room traders aresbearish on
Union Pacific.
The report that White & Morris were given
up ON heavy st. Paul sales is denied. 1t is
reported that large orders have been cabled
from Liverpool to sell grain to l cent below
the market in order to strengthen the posi-
tion of prominent parties here on u decline in
stocks.
Cotton advanced / to ON food reports from
the south and southwest. .t,,-.
Chicago specials say wheat is down to 1861,
the lowest yet. al
A provision house failed this morning, and
more are expected to go under.
1t is reported on excellent authority that
the Northern Pacific Railway company has
another large land sale under negotiation,
and this accounts for the frmness of the
stocks.
1t is announced that Nichols & Co. will
probably pay in full.
At Parkss office it is stated that his suspen-
sion will be only for a few days. Mr.. Parks
fays he has plenty of money, and his failure is
owing to Nichols failing TO honor his draft
for $l50,0OO. He doesn't know why this
draft was not met, as he had the funds.
q, Johnnes and Slayback hammered New
York Central.
Chicago reports strong buying of wheat
there on New York orders, and there has been
no further trouble.
REVIEW.
The market opened Irregular and for a
brief time was firm but the first quarter of
an hour developed decided weakness through
out the list, except Northwestern, which ad-
vanced from 1928 to 133a on purchases by
Hunting and Wadsworth. The weak features
were st. Paul, Lackawanna, Texas, and Union
Pacific, which declined from to 4. New
Jersey Central rose 4, and was strong.
Toward noon the market strengthened, but
the trading was dull and featureless.
The grain prices ranged from / to Z per
cent.
The Chicago advices were less assuring than
on yesterday, one prominent failure being re-
ported, with slump in wheat.
The general loaning rate for stocks was 2
per cent; Jersey, I; money, "a. At o'clock
the market was off 3 to from the best prices
The tone being weak on the suspension of r.
ii. Parks Il Co. Tho firm did a large grain
business and a small one in stocks.
1t is claimed the collapse of Nichols g. Co.
carried away the firm Of II. ii. Parks a. Co.
BfOWn BrOs. reduced SUernng To 4SOt(dD.
Very light business transacted.
On the second call the market was irreg-
ular and dull, and generally a shade oil.
The most trading to-day was in Union
Pacific, New Jersey Central New York Cen
tral, Erie, Lake Shore, and Delaware and
Lackawanna.
After 2:30 the room brokers did little but
quiz .visitorssand go on parading around the
room, the business being nominal. The
market closed firm at tho decline, which was
occasioned by conflicting rumors of the stu
alton in Chicago.
LONDON, 123O.-United States bonds un.
changed. Erie, | lower; New York Central
lower; Wabash preferred, lower; Read
ing, lower Lake Shore, lower; Illinois,
! lower; Pennsylvania, lower; Ontario and
Western unchanged st. Paul unchanged.
New YoRK, 9'46.-The weather Is cloudy
and very sultry. Terrible Lightning with
rains from midnight till 1870.
GOVERNMENT BoSDS
BID asked.
United States IS lO3IE
United States 45ss, 1891 registered -,u,... li2A il3