National Republican., 1883-05-11
THE MARKETS.
Europeans Said to be Selling Their American
Securities as Fast as Possible.
Yesterdays Trading Was Very Dull and
Prices Generally Declined.
GOSSIP.
Speciol Dlapdich.

NEW York, May 10.-The operators who
trade upon the early fluctuations in the mar
ket were looking for rather lower figures this
morning. Some of tho brokers thought there
was some inside selling of ST. Paul yesterday,
but aside from this there was no special
feature except that the professional manip-
ulation was greater than usual and the
outside business smaller. Memphis and
Charleston was raided and sold down by
Charles Marvin, who apparently had orders
to sell it as cheap as possible TO break the
stock. Some thought this action preliminary
to another advance In few days and after
this another southern stock, Columbia and
Greenville preferred, would bo run up 10 per
cent. by the Same parties. Tho latter COM
pany is earning per cent dividends, and the
stock sold at ITO last year.
Woerishoef1er says he expects the bank Of
England discount rate will be advanced. He
says London is pressing sales Of American
stocks and shipping them by every steamer.
II is this fact he says that makes sterling ex-
change so firm. Central Pacific is sold very
largely here for foreign account Gen. Eckert
said last evening that the Western Union
telegraph business has increased greatly. Ho
did not expect Mr.. Gould back until next
week.
The bears on the coal roads have stories in
circulation Of rates cutting and q further re-
strictlon In mining
Chicago dispatches report the Northwestern
roads business not 80 large as the st. Paul.
and the gain for tho first week in April of the
Northwestern will be very slight IL any.
The bears on Union Pacific declare that Blake
Bros. have not been able to dispose of any Of
the new collateral trust bonds of Union Pa
cific. and the firm only took about 100000 of
them. The fact, however, develops that the
first $5,000,000 issue of the stock was can
cellod and new ono authorized bearing date
of April 2, aud was listed at the board here
yesterday.
superintendent Tillinghast, of the New
York Central, is very bullish on Reading, and
says the completion of Readings Pine Creek
road will give the Reading a quarter of a l
the western coal trade, and tho New York
Central will get 300 cur loads per day. He
declares that there Is no truth in the report
of cut rates on tho coal roads, Mr.. Alexan-
der, a leading bond broker, says a very large
percentage of transactions reported in rail-
road mortgage incomes, &C., are washes"
II is said sthat of the dealings in West
Shore bonds are washed. Tho Sm says {;
ed /" Martins, formerly John Pondir's part
ner, has absconded with debts of $175,000.
The Texas Pacific earnings for the fourth
week in April were $4,000. The receipts
from JAM to May increased $56S, 900.
Kansas and Pacific earning for the fourth
week in April increased $4,000.
A San francisco dispatch says the question
of the validity of the old consolidation of the
Central Pacific, with the former Western Pa.
cifc, is again up in tho courts, should it be
decided illegal there may be serious complica-
tions.
Dispatches from Kansas report that winter
wheat promises about 30 per cent OF last
years crop.
1t is reported that the Louisville and Nash
vile will next week runs trains from New
Orleans to New York in fifty-eight hours,
connecting at New Orleans with the Texas
Pacific.
The largest trading was New York Central.
The principal sellers were Nicholas, Fau-
Shave, and Baylss; the buyers were Briggs,
Gilman, Godet, Herrick, and Bowen. The
trading in lake Shore was small and unim-
portant. IL. s. Wilson Il Brother sold Laka-
wanna. In st. Paul Nicholas bought 1000
shares, and Berdan was the principal seller.
Prince and Whitley sold most Western Union.
st..-- REVIEW.
u Stocks opened dull, and about the same as
yesterday. The Gould and Union Pacific
shares were fairly strong, but later Union
Pacific was sold heavily by Woerishoeter and
the other Germans. The balance of the mar
ket sold down to by noon, and the appear
ance Oh aualrS IN Ino DOhfu bnOWeu DOtn tne
insiders feeding out OF long stock and Of
shorts selling.
The Vanderbilt brokers are not talking
bullish on the situation. Barton thought the
dullness would cause decline in prices.
Stocks loaned at 3; Union Pacific 2; New
York Central fiat sterling rose cent in con-
sequence of the advance in Bank Of England
rate to per cent Money was offered at A.
No buyers of governments of moment, all
holding of ON large lots, waiting the decision
in the Savings bank bill case by Gov. Cleve-
land.
Cotton is feverish to-day, and prices are up.
On the second call stocks were very dull
and generally lower. Louisville and Nash
vile weaker, and declined per cent. John
Benjamin sold 1000 shares, and Davis John
son was also seller.
At 2:30 the market was dull and moderately
steady with prices 4 below opening. The
market closed duh but steady, and / to off
LONDON, 1890 p. M.-Bank of England rate
advanced from 3 to per cent; extended SIS
rose / Erie declined |; Erie seconds ! New
York Central I Illinois, D; Pennsylvania
Central, 4; Ontario Western, Reading, 1 (;
Lake Shore 0 st. Paul, decline.
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 Il Co., bankers,
No. 14l1 Il street northwest: