National Republican., 1883-06-06
THE MARKETS.
A Fairly Good Day in Wall Street Closing With
Plenty Of Orders to Buy,
Rumors OF Trouble I'm the Trunk Line
PooI-The Grain Market.
GOSSIP OF THE DAY.
SDecidt Dispdfch.

NEW YORK, June 5.-Tho uptown bears
were the largest general sellers Of the market
yesterday, led by the room traders, who fa-
vored the reaction, and they were assisted by
reports of iron suspensions, the trunk line
troubles, and an increased issue of st. Paul
stock, which it was said had been borrowed
and sold ahead of the authorization. The
bulls say they expected this reaction, but did
not think IL would come until to-day. They
claim that the st. Paul issue has been fully
discounted. Mr.. Henry Smith attaches no
special importance to the reaction SO long as
crop weather continues favorable, and he re-
CARDS the break in wheat at Chicago as avery
favorable sign, Smith and Morgan remain
firm believers in tho coal roads, and there is
strong pool in Lackawanna
The bears claim that yesterdays trading
was mainly thimble rigging by insiders and
the shorts, and II the market rallies this morn
ing IL will be good sale. This crowd declares
that the bull movement is over for the pres
entand fully 100000 shares ofshorts have been
covered since Thursday, leaving about the
same amount uncovered.
The Louisville and Nashville earnings for
the fourth week in May increased $21, 900.
Ben Clark, president of the Thomas Iron COM
pany, says Jne reduced rNJcS Dy MS company
are $40 tper ton for No. l and $40 Of No.
pig iron. He says the production is greater
than the demand, but that rails are now in
rather better demand.
The three millions st. Paul stock authorized
yesterday was issued upon $3.50 miles Of road
on which no stock had previously been issued,
and the proceeds will be used 10 pay for coal
lands already purchased
@. p. Huntington says Gould tells him that
while he Is bull he is not doing anything in
stocks. Joe Mills says Michigan Central is
too high, and his party arc probably short
of it.
Johnnes bought 1000 shares of Union Pa
cifc, and Kirkner bought 800 of the same. s.
V. White sold $500 Of tho same stock. Sterl-
ing bought 600 of New York Central, and
Kimber sold the same. Ellis and N. w. Hen
derson bought Lake Shore. Nicholas bought
Reading; Sternberger and Hughes sold.
Johnnes and Kirkner bought Lackawanna.
Jersey and Western Union are dull and
featureless.
Chicago dispatches report grain to lower
and that the weather is very favorable for
crops.
1t is reported that Commissioner Fink has
called the Grand Trunk to account on the
Lackawanna traffic, and the Grand Trunk
has been threatened with expulsion. An an
swer from the Grand Trunk is expected by
Commissioner Fink to-day.
Philadelphia dispatches say Mr.. Carrots
purchases have helped the rise in Jersey Cen
tral.
Sterling is dull and dropping. Govern
ments strong and active for Avs. Louis Bell
bid above tho market for 5000 shares of
Reading.
There is q rumor in the board this after
noon upon kilograms from Chicago that tho
Grand Trunk road is likely to withdraw from
the trunk line pool and form New York
connection with the Lackawanna. The lat
fariG har hut ha T.oGa
Shore stock has been sold by the bears on the
story.
Boston dispatch says the May earnings of
Union Pacific decreased $195,000, but the re-
turns for the opening of June show gain.
The largest sellers of Lake Shore have been
the Woerishoefier party, and they have been
manipulating the London market. Also tele-
grams from uptown assert that the Grand
Trunk has notified the trunk line pool
that in certain emergencies 1t will make its
own rates for freight and passengers after
July 1, but Fink says he has had no such no.
tice and doubts the rumor
LONDON 1230.-United States AIS higher;
United States SIS higher; Erie, / lower;
New York Central, } lower; Wabash pre-
ferred, a lower; Reading, higher Lake
Shore, lower; Louisville and Nashville,
l 3-l6 lower; st. Paul, lower; Ontario and
Western, lower; Illinois, lower.i ....-.
REVIEW OF THE DAY.
Ihe opening was generally stronger and
better, and there was less disposition to sell
short The largest trading was in Lacka-
wanna, Reading, Jersey, and st. Paul, and
these stocks improved to I. The Wabashes
were very firm. The Vanderbilt's were very
quiet and dull. At noon tho trading dulled,
and most Of the mornings advance was lost
Sterling was dull and dropping. Stocks
lent at 2 to 3, Jersey at per cent to fat.
Money offered at IL, Governments strong and
active.
The largest buyers of st. Paul were Wads-
worth, Kirkner, Chapman and Marvin. The
sellers were Scranton and Willard, Leavitt,
Apgar, and Kidder. On tho second call the
market was dull and the Vanderbilts dull on
reports that the Grand Trunk would with
draw from the trunk line pool and join the
Lackawanna. At 230 stocks were firmer
with Lackawanna and St. Paul at tho best
prices of the day. Woerishoeffer, near the
closing, sold Lake Shore largely. AT 2:45 the
market continued firm and more active, with
the highest prices of tho day and large out
side orders to buy. The market closed active
and stiff at the advance.
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. 14l1 + street northwest: