National Republican., 1883-02-16
THE MARKETS.
Rumors of a Consolidation Of Union Pacific and
Burlington Interests,
Vigorous Trading In Lake shore-The
Rumors OF the street.
REVIEW OF THE DAY.
iCpscidi Dispatch.


NEW York, Feb. 15.-The market opened
n shade higher, but later became trine
weaker, owing to seller 60 days raid upon
Lake Shore, which was sold down by Osborn's
brokers and the room traders. The Osborn
stock sold was said to have been for Cammack.
Northern Pacific was stronger to-day, and
rallied on Boston rumor Of big deal going
on and hints of favorable consultations. Del
aware aud Lackawanna advanced 2 on the
opening, Lake Shore J, and Hannibal pre-
ferred /. Illinois Central rose I OH the an
nounced declaration of stock dividend of II
per cent, but the Improvement was not main
tanned, and at noon the general list was dull
and most of the mornings improvement gone
Room traders and the street were very bear
ish. The weather apparently affected the
trading, and speculation was very dull.
- The damage to property and business by
the western storms is excessive, and may be
taken into consideration with present prices,
but speculative movement is sluggish, and
seems to be for small profits in either direc-
tion at present.
Stocks loaned at to 3, and money offered
at A; time money at AZ to 3. Government
bonds were strong and higher for4s Western
Union was weak on the second call, Fellows
and Davis being the sellers.
II. s. Wilson offered Lake Shore Mt 10Y,
seller 60, but the cash stock was 8. Northern
Pacific continued strong, and ii was rumored
that Keene was bidding itup against the short
interest Otherwise the market was dull and
heavy. The market is closing up with
lower range of prices.
The closing was dull and weak, stocks show
ing loss of from to 2 per cent. from the
highest of the day. The market has had no
support to-day from any source, and has drag
ged its weary length along toward lower
prices. The short interest is fairly large,
and decided rally may be looked for. The
terrible floods west and the gloomy weather
here has done much to kill speculation to-
day.
FACTS AND FANcIEs.
The immense loss by floods is being used
by the bears, and may have some effect.
Centainly just now there is not much en-
Couragement to buy. A dull market usually
results in lower prices. One of the govern
ment directors of the Union Pacific Gays their
report will be brief aud much more favorable
TO the company than is generally reported.
In fact it will bear out the company's state
ments.
A Cincinnati dispatch to n Wall street
banker says the distressis widespread and the
citizens of town on the river are in great need.
Another Cincinnati special reports con-
tinued rise of Ohio, and its tributaries are
rising rapidly.
A Washington special says Folger's condi-
tion is improved.
~.
noon to attend ex-Gov. Morgan's funeral at
New York.
There is large crowd in the Lake Shore
pool. Chaplin is hammering the stock, and
offering 1t in 500 share lots down to z, seller
90. Kirkner also offered it down to 6l, seller
co. Among the buyers of New York Central
this morning was Van Emburg. The sellers
were Turner & Herrick.
Seigman & Co.'s London cables say that
money is offered at 3.
The seller 60 days put out in Lake Shore
to-day were for Cammack, and these in Union
Pacific yesterday were Cammack's,
Government bonds are strong and advanced
for AS, with the Germans buying, but they
are selling 3's.
The Transcript says there is the biggest kind
of deal going ON with the Union Pacific, but
the exact character of it is only known to u
few insiders. 4 consolidation with the Chi
cago Burlington and Quincy is limited ut.
Such consolidation, with proper terms,
would be for the interest of both companies,
MS the consolidation would be able to dictate
terms to small corporations west of the Mis-
souri, river and to nearly all the companies
between the Mississippi and Missouri rivers.
There is also talk of consolidation between
Missouri Pacific and Union Pacific.
G. G. and |. O., bid, offered at g. Accord
ing to the plan Of reorganiaing this stock is
assessed per cent. on cash, and the new
company gives 90 per cent. in stock. Ifyou
paid 9 for 100 shares you would thon pay
$500 and get so shares of new stock, costing
%.
The gossip of the morning gave sterling
promise of higher prices during the day,
The squirt near noon may be called a bull
market but the lambs who held on for q
little higher" do not so regard it.
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,
No. Corcoran building:
Nam. o,.,o.,, ] Z i :