National Republican., 1883-03-10
THE MARKETS.
An Encouraging Advance Followed by De-
cline, Closing at Bottom Prices.
Money stuI Held Mt 60 Goodies OF Bull
lion Coming from England.
GOSSIP.
Spectdl DisDdich.

orally high closing. Woerishofier insisted
that Gould was a continuous seller on
all the rallies, and he predicted that the bank
statement tomorrow would show decreased
revenue of about $3,000,000. Commack said
there could be no advance Of consequence
which could be maintained and he was q great
bull on money. Nevertheless considerable
amount Of call money was offered last night
for to-day at per cent. Conservative
judges of the present manipulation of
the stock market generally incline
to the opinion that the indications are
that very strong parties are working
together for rise, and arc shrewdly en-
deavoring to retain the short interest. Con-
sequently the latter is encouraged by the re-
actions. The bank people generally report
very little money on hand, much having been
withdrawn by individual depositors who lend
it out themselves to get the full benefit of the
high rates. Consequently few individuals
just now control all the available funds here.
Brokers say that but few shorts were covered
yesterday. and there was good borrowing
demand for New York Central, Union Pacific,
Reading, Delaware and Lackawanna, Lake
Shore, North Western, and st. Paul.
Tho street continues bearishly and the
room traders are divided up.
Report was circulated this morning that
ten or twelve million dollars had been bor-
rowed abroad by parties here on pledges Of
securities through time loans at to per
cent, and that these funds have already be-
gan to flow here.
The stock market opened firm, Scranton &
Willard buying Union Pacific; John Bouvier
Western Union; Goicoria buying Delaware
and Lackawanna; Closson & Hays selling
Delaware and Lackawanna. Osbornes brok-
ers are selling some stocks. The leading rate
for stocks is about Z.
Denver's earnings for tho first week in
March increased $4,000.
London cables report Americans stronger.
Virginia consols advanced from AZ to as.
The room traders are all very bullish, and
some of the largest commission houses are ad-
vising their customers to buy. stocks.
A private Cleveland (ohio) dispatch from
an intelligent and large dealer in iron and
steel reports that there is no depression in
this trade, and the manufacturers have re-
gained confidence very largely within the
last 10 days.
A report is in circulation that the bond
holders Of the st. Paul road are taking stops
to prevent the payment of this springs divi-
dend, owing to the floating debt of the com
pany.
1t is said Judge Arnouxs injunction in the
Williams telegraph suit prevents the declara-
tion of any dividends at present.
There are rumors in tho street to-day of ST.
Paul paper having gone to protest, but the
friends of the company say that they are un.
true. 1t is, however, stated that the company
is much in need of funds; but that they will
be able to get all they require without much
difficulty. ,tM IA NJ
Sterling exchange advanced to ds2 to dsil.
The bears on the stock market say that
Gould is feeding out stocks this morning.
A London dispatch reports money on the
street at 81 TO per cent, being rise of ! Ia
J. Should the Withdrawals of gold cease the
bank rate is liable to remain unchanged
Otherwise there will be q change on Thurs
day next, although the bank is not re-
stricted to any particular day. Consols are
quiet. French funds unchanged. Sterling
exchange firm.
Stocks opened frmer and generally higher
Union Pacific leading. Scranton & Willard
were largo purchasers. Western Union rose
to si2, with John Bowler large buyer
Western Union was fairly sustained till noon
and unaffected by the report that tho direc
tors, owing to legal technicality in tho old
Williams suit were unable to make any divi
dends at present. This report was discred
tied.
At 1890 tho general list became dull and
in most cases the improvement of the morn
ing was lost st. Paul common reached OIL
that fhn hnn1bo1darc tal In,
steps to prevent spring dividends, on til,
ground that the company has floating debt
The coal shares were quiet and dull, and il
was reported that the coal trade was dull ant
prices not so firm.
The general list remained dull and easier
on the second call, and the bears insisted tha
Gould had been selling the market on tn,
mornings rise. 1t was reported early in tn,
day that II. N. Smith borrowed in Londor
about $3,000,000 at per cent. for sixty days
on pledge of Lake Shore, New York Central
and Delaware and Lackawanna, and that this
money would come forward next week.
Later the associated press London cable,
grams came, stating that 100000 sterling in
bullion was withdrawn on Thursday, and il
would be forwarded tomorrow. The pur.
chase was made in advance to guard against
the possibility of rise in the price of gold
eagles at the bank to-day Money was stiff al
to 0, and it was reported that two million.
additional had been shipped to Boston, Ster.
ling exchange was advanced J to-day, and
bankers were buying bills. The fear that the
bank of England will put up discounts again
to stop the flow of gold this way stihened ex
change.
Government bonds were dull and steady
with more demand for As.
At 2:30 y. M. money was quoted at 3, and Q
rumor was current in the board later that the
shipment of gold from London for tomorrow
was Withdrawn.
The market is now dull at about bottom
prices.
II, s. Wilson was large seller of st. Pau
to-day.
The market closed dull but with strong
undertone.
We are promised heavy gold shipments in
the near future.
The principal mining stocks closed as fol.
lows Alice 3 to $40; Carb Hill, 100 tC
1876 Taylor Plumas, 10 TO 49, Con. Virginia
30 to 55 Southern Pacific, toe
LONDON, Mar. 9-1230.-United States d
higher; st. Paul rose New York Cen
tral, D; Illinois, ! Erie, Pennsylvania
Central, /, and Reading, t.
Bateman & Co. furnish the following COM
parison of figures and prices of 1873, 1881 and
1883: