National Republican., 1883-05-10
THE MARKETS.
Irregular and Generally Declining Prices in
Wall Street Yesterday
Financial Statement OF the Canadian
Pacinc--Tho wheat Market.
GOSSIP OF THE STREET.
icprcidf DfeDdicb.

the reactions would only be triHing. II is
generally admitted that there had been a
good deal Of manipulation, and this induced
the room traders to resist the advance. Bay
lis and w. r. Hatch bought about 10000
shares of Reading late yesterday, and it was
reported that this company would guarantee
5per cent. on Jersey the first year and per
cent. thereafter. 1t was reported that Mr..
Morgan bought good deal of ST. Paul, Jersey
Central, aud Northern Pacific common yes
terday, and Morgan & Smith continue
strongly bullish. Late in the day Davis &
Tileston bought $500 shares of Northern
Pacific common. Woerishoffer says that he
is doing nothing Cammack says If he was
to remain hero he would sell 100000 shares Of
stocks short. Louisville and Nashville, Cam
mack believes will be reorganized before his
return from Europe, and he believes this
company will default on its interest inside Of
ninety days.
The Western Union telegraph business was
never better. They sent n 900 messages out
of this city yesterday, which is the largest
number of messages sent in one day
since the death of Garfield. But some por-
tion of this gain comes from the closing Of
Mutual Union offices. A Philadelphia tele-
gram this morning says the Reading directors
in session yesterday, agreed to guarantee Jer-
sey Central as mentioned elsewhere, but
Gowen declines to make any statement now
The Union Pacific earnings for five days
in May show a loss Of $1,000.
Tho st. Louis Post Dispatch people have
bought the World for $350000 and Mr.. Hurl-
burt will go abroad as representative Of the
Gould railway system.
The Northwestern, the st. Paul, and the
Omaha earnings for the first week in May
are very largely ahead Of last year. Reports
will be out tomorrow.
George Loesea sold 5000 shares Of Union
Pacific this afternoon, and Peters & Poll sold
5000 shares. The shorts were the buyers
1t is reaffirmcd that the National Dispatch
Freight company of the Grand Trunk has re-
duced 6rst-class west freights from New York
from 75 cents to 45 cents per 100.
San Francisco kilograms say the Central
Pacific is pushing its branch line through
northern California to Oregon to compete
with Willard Of Northern Pacific, and the
Central Pacific has several thousand Chinese
who are pushing forward rapidly.
Heath sold New York Central; Anthony
also sold, and Herrick offered the stock on
options below the regular prices. Bogert
bought most of the New York Central, Walsh
& Kirkner hammered Lake Shore, and
Wormser bought Osborn and S. v. White
bought Western Union largely; Coombs
sold. Godet bought Northwestern, and Tai
colt also bought
Seligman x Co. report that there has been
no positive failure in London announced in
Grand Trunk shares, as reported by the as
sociated press this morning, and thore has
probably been settlement made on the basis
of 80 or 90 per cent. No embarrassment is
reported in the London board. The Canadian
Pacific will be listed in London tomorrow.
The financial statement of this company
cabled to London shows the road has earned
expenses and q dividend Of "a per cent OH
all the stock issued. Government bonds are
dull awaiting Gov. Clevelands action on the
Page bill
4 Philadelphia special says the 6 per cent.
guarantee of the Reading to the Jersey Cen
trail is equal to @ per cent. bond of the Read
ing, with the additional security Of the i'm
mense water front in Jersey City, owned in
fee and said estimated to be worth $40, 900 000
Bankers here differ regarding an advance
in the bank rate in London tomorrow.
Western newspaper reporters who inter-
viewed Gould quote him as saying: "All the
roads so far in operation in Mexico can be
purchased at your own price" rrss.s
n, Gould further stated that he was not doing
much with his road from Laredo into Mexico.
There had been trouble regarding concessions
and arrangements to consolidate, which were
now being made with fair prospects Of sue
cess.
Lackawanna has been hammered by Slay-
back, Kirkner, Walsh, Johnes, Mauriac, and
other room traders ON sensational rumors of
cut rates and burst up of coal combination
were w. T. Hatch, Nicholas, Ford, j. b.
Wilson, F. b. Wallace, Grovesteen, and Pell
The buyers were Newcomb, Kidder, B. b.
King, Prince & Whitley, and John Wallace
In Sc. Paul Boocock bought largely, Worden
bought 5000 shares. and other buyers were
Ballou, Spencer 'Trask, and Phil Bruins.
slayback sold Central Pacific and Wheeler
and Baldwin sold Union Pacific.
private Washington dispatch says the of
ficial report of the state of Illinois to the ma
tional bureau shows that the winter wheat
crop will be 20 per cent. of last years. Ed.
Willard telegraphs from the west that the
general crops will be plenty big enough to
carry the market. 1t is reported that there
will be an extra dividend declared this year
on ST. Louis and San Francisco preferred
stock.
THE DAYS TRADING.
The market opened irregular and weak for
the Vanderbilts, Central Pacific, and Union
Pacific. The two latter were unfavorably af-
fected by the reported strife over California
business. Central Pacific declined on the adj
mitted quiet sales by Crocker and other in
siders. Lake Shore was hammered by the
room traders, and New York Central was sold
down by tho room traders also. The gem
eral list i'll the early transactions seemed
TO lack support from any but large
professional traders. There was a disposition
to put out some stock on the reported London
troubles in the Grand Trunk shares but the
denial Of this story served to check the de-
cline, and better feeling followed.
The Could stocks were quiet and steady
stocks lent at 3 to A; New York Central nat ;
money was offered at A; sterling unchanged ;
governments dull, awaiting action on savings
banks bill.
On the second call the room traders ham
mered l4ackawanna, on rumors of break in
the coal combination, but the shares weak
ened but slightly.
Walls sold 5000 shares of LaclSawanna, and
Anthony Il Shaw 5000 shares, this afternoon
The shorts in Union Pacific were covering
this afternoon on the decline.
The general market was tired and 10
down this afternoon, and compared with the
prices of morning money.
Railway bonds especially West Shores and
East Tennessees,ar are active and firm. The mar
ket closed dull and unsettled at the lowest
prices fthe day. The buying of Rochester and
Pittsburg has been very good during the last
week, and 1t is rumored will 90 very high
on the next advance in the market-30 is
talked for it this MONTH n.MN ~
LONDON, May g. I2:3O.-Reading higher,
New York Central lower, Lake Shore 1
lower, st. Paul lower
The wheat market Is strong though many
would like 10 see decline Robert Bruce Is
advising his patrons to buy, and says the
market is still below its merits.
Another ftty-mile section of the Northern
Pacific railway in Montana was accepted yes
terday. This section which was recently
completed, extends from the five hundred
and hftieth to the six hnndredth mile of the