National Republican., 1883-05-29
THE MARKETS.
A Generally Quiet Day With Little Trading
and a Downward Tendency.
A Lively Passenger War In the west
Prospects For the Grain Trade.
GOSSIP.
SDecidl DisDdich.


NEW YORK, May 2s.-The spectators gem
orally agreed in the opinion yesterday that
the prospect was daily becoming moro favora-
Bile for higher market and better prices.
number of leading bears turned bulls, and say
they have bought some stocks for long ac-
count, and will take more on the reactions.
The brokers report that Saturdays market
closed with a strong undertone, and steady
absorption by the conservative and strong
parties during the latter part of the week.
The feeling is strong on Texas Pacific stock
and bonds on an important land decision in
favor Of this road. There is much confidence
in higher prices for the Vanderbilts this
week. The weakness in wheat in Chicago is
regarded as very good sign by the bulls in
stocks. Mr.. Vanderbilt is expected back this
week. and may stay all summer. He goes TO
Saratoga in July. w. L. Scott says Wander
bilt will probably attend tho northwest an
nual meeting in Chicago next week. When
that company will probably issue ten millions
of 5 per cent. bonds at par to Vanderbilt, and
put the z per cent. million dollars of Omahas in
the treasury, which they have accepted.
Some of the preferred Omaha stocks cost as
high as Ill, and tho common 90. This stock
will remain in the treasury until the prop
erty becomes dividend paying (Which 1t is
not at present, and Scott says IL never was),
after which il will be divided up in its equiv
alont in Northwestern 10 the stockholders
Tho Kecne-W Woerishoeffer party continue
bearish, owing TO tho threatened strikes in
the iron trade, &c.
General Manager Potter, of the Chicago
Burlington and Quincy, tolegraphed q promi-
nent railway man in New York on Sat-
urday saying There is no probability
of any serious trouble in the
Iowa pool meeting next Tuesday"
Notwithstanding this the Rock Island on
Saturday reduced fares to Galena, Wyoming,
and other points on the Chicago, Burlington
and Quincy, and made the fare to Missouri
river points $5, against $780, the regular rate.
The press dispatches this morning say, the
Chicago, Burlington and Quincy people have
reduced tho fares to so cents, and q 10 cent
rate will be made soon. .'. .-l,ft5s
The Messrs Armour say their personal ad-
vices declare the general crops of the whole
country promise to be very large and highly
satisfactory. WoershoefFer says he believes
Wabash will so lower, although he covered
Saturday
Campbell and Heath sold Lake Shore Ben
jamin bought New York Central Herrick
sold the same; Harmed & Seaver bought st.
Paul. The sellers were scattering. Raymond
sold Union Pacific; Edwards sold Erie, and
Goodchild bought the same
Johnnes Dickinson, and Bird have been
selling the market.
The Jersey Central has served notice on the
Pennsylvania railway of n withdrawal from
the pooling on Long Branch.
Robert Bruce has kilograms from the west
saying the warm weather following the re-
cent cold snap is doing moro damage to
wheat than tho storms have done. He be-
lieves there will be no serious break from
present prices, and advises his friends to buy.
He favors the August and September options.
BUSINESS.
London kilograms report money easy, and
bankers rates 81 to 4.
Government bonds are steady.
Sage has stopped selling privileges ON oil,
and refuses bids of twenty cents apart.
Private cables from London to leading for
eign houses here report tho afternoon market
stronger, and that the settlement lus passed
without embarrassments. 8YperltaTs are all
stronger. The Mexican government bonds
of 1851 rose IL per cent to-day.
One of the largest Chicago grain and pro-
vision houses telegraphs this morning: We are
given to understand the Rock Island trouble
about rates will not last beyond Tuesday.
The crop reports are hardly so favorable. for
wheat, but decidedly better for corn. ~ 4.
PittsbuTg dispatches say tho iron work
men are arranging by telegraph for q general
strike June l. A Philadelphia telegram says
there is no market there for any quantity of
Pennsylvania railroad stock, and it begins to
be an anxious question as to how all the al
lotment of scrip privileges is to be placed.
The competition between the Pennsylvania
and the Reading roads bids fair TO be very
bitter Holders of about 100000 of the
Hannibal bonds have consented to sell at 0S
to a foreign syndicate.
1t is raining heavily in Chicago.
REVIEW.
Tho market opened dull and steady, with
prices to better than Saturdays closing.
Before noon the room traders attacked the
market and depressed st. Paul per cent.
and others to T. BY noon sharp advance
in sterling exchange was made much of by
the bears in stocks, as indicating gold ex-
ports. Government bonds were dull and
strong Money was easy at 8, and stocks
In the afternoon, on the second call, the
business became very dull, and prices were
about the lowest of the day, with trading
mainly confined to the room traders The
coal stocks weakened on reports of strikes of
the iron worlHmon throughout the country on
June /.
There was report in the board that the
Standard Oil company were selling st. Paul
Early in the last hour lprices rallied to D.
but trading continued light Union Pacific
was stihened on u report from the west of n
probable settlement of the troubles with the
Union Pacific and the Denver. The market
at 2:SO was somewhat harder, till about ten
minutes before closing, when the room
traders made determined raid on Northern
Pacific preferred and Texas Pacific and
forced the last down to Z. The short inter-
est is not large enough TO sustain the market,
which closed weak on the whole list at the
lowest figures of the day.
LONDON, l2;30-United States bonds steady
and unchanged. Erie, 1-1G higher; Erie sec
onds, higher; New York Central, 2 higher
Reading higher; Ontario and Western, I
higher; Illinois Central, higher; Pennsyl-
Vania Central, lower
STOCKS.
The following arc the opening, highest
lowest, and closing prices of tho principal
stocks for the day, as corrected by special wire
reports received by Bateman q Co., bankers,
No. 14l1 + street northwest
IL