National Republican., 1883-04-25
THE MARKETS.
A Quiet and ChanCterlsss Day in the Wall
Street Stock Exchange.
New Pacific Railway Projsctcd-Dsmaging
Runiors About Louisville and Nashville
GOSSIP OF THE DAY.
Aneofnl Dfspnich.

SDectdt OtdDutcN
NEW YORK, April 24--The best judges say
that the market is going considerably higher
presently aud the brokersl agree that there
are comparatively few long stocks pressing.
Tho immense thimble rigging, the latter say, |
continues and there is great deal of wash
ing, but IL does not necessarily follow that the |
market is good sale for the short interest |
The short interest is still large. Mr.. Smith |
says he is a steadfast believer in stocks like |
Lackawanna, Northwest st. Paul; Lake |
Shore, &c. The recent unfavorable weather.
in the northwest has prevented much increase
in the earnings.of the grangers during the
past week, but traffic promises to be
big for the fourth week as there
has been big accumulation of freight.
The Newcomb party and tho Twenty.third
street bears are selling Louisville and Nash
willie short on points that the June interest
may not be- paid, and that the short interest
has been increased thereby. 1t is reported
that Cyrus Field has been examining the
postal telegraph, its process, &C., including
its compound wire aud telephone and is
favorably impressed. The leading railway
men, who have just arrived here from the
west to attend the trunk line conference, re-
port that there will be no trouble regarding
the readjustment Of the percentages and the
differential rates. General Manager Newell
says that the Lake Shore business at
present is little light. A new paci-
fc railway has been organized, and a
large amount Of English capital subscribed.
1t will be known as the United, States Central
railway and extend from Denver to San
Francisco 1,200 miles. Stock will be issued
at the rate of $4,000 per mile and $4,000 in
bonds. The line runs through rich mine
rolo and ftnnhar rauion and tho Nyorl- will ba
begun this spring Washington specials this
morning say that Secretary Teller declares
that unless the Union Pacific pays its debt
under the Thurman act he will sue for an in
junction restraining the paying of dividends
on the stocks and that he is only waiting for
President Dillon to speak out
Stocks are lending at to 8. Sterling is
unchanged.
TRADING.
The stock market opened quiet and firm, but
without especial feature. The room traders
bought some on the opening, but trading Is
light and there are no large orders in tho
market In Lake Shore AL King, Cecil
Ward, and Campbell bought. In Wabash pre-
ferred Moulton and Haight sold. Maurice
sold Lackawanna. 1t is rumored that the
Louisville and Nashville company has sold
two millions Of stock. Points are circulated
to buy Richmond terminal for q sharp ad-
vance this week.
Seligman g. Co. report fair European de-
mand for railway bonds here, but not much
for railway stocks. The New York Central
Railway company request that the coupons
Of adjustment bonds, payable May 1, be left
with the receiver one day for examination as
some Of them have been drawn.
The market opened with better tone, and
prices rose before IL o'clock to point the
latter Lackawanna, which was advanced by
Hollins & Co. buying 10000 shares. North
west and Union Pacific rose to l..
There were but few outside ob1ers in
the market, and the trading was en-
tirely in the manipulation Of profess
sionals. Louisville and Nashville rose to
5i3, but dropped to 528 on p rulpor that this
company had sold $4,000 to 10000 shares Of
its treasury stock to provide for the May in
terest. 1t was subsequently stated that Pres
ident Baldwin denied this, and it was further
stated that the company was fully provided
with money to pay the bond interest coming
due, but the stock did not rally upon Bald
wins denial, and the street believes that the
company is in a bad way. Stocks loaned at
to s.; money at 5; sterling is reduced per
cent. to-day; government bonds are steady for
and the tax dodgers were borrowers instead
of buyers. Railway bonds were firm upon
European orders in this market. Money
loaned at 41 this afternoon,
On the second call the market was dull and
steady on a very limited trading. Wabash
stocks were weaker. AT 2:3O tho market
TcdCItu lIdCllOudllyJ bnO iuuop uSblNO
tions being in Lackawanna, in which about
half the days trading was confined, Louisville
and Nashville, the Wabash stocks Northwest
and Union Pacific, all advanced from the de-
cline of noon.
At 2:45 the market was characterless, and
extremely dull, and remained SO up to 3
o'clock, when 1t closed with nothing doing,
and no change to speak of in prices since 230
o'clock.
In the grain market there has been gen.
eral scramble TO corner shorts, and more prom
ising crop reports seem to have been lost sight
of. The" longs" fed the market persistently,
and decline was the consequence. Robert
Bruce says prices will rule higher, and ad-
vises his friends to buy on every break The
corn market Is neglected.
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 & Co., bankers,