National Republican., 1883-04-27
THE MARKETS.
Another Spiritless Day in the Wall Street Stock
Exchange.
The Hannibal and st. Joe salo-RumOrs
OF New Issues or Texas Pacific.
GOSSIP OF A DAY.
iyuecfdf Dispatch.

SDCCtnt Dt6DdtcNs
New YORK, April 26.-Bost judges say that
while the excessive manipulation continues
in the room the room traders are still selling
short and going in deeper each day. The
short interest is consequently becoming very
unwieldy, and the street has points to sell,
and that prices are going very low, &C Never
theless, the shrewdest brokers report that the
selling does not come from the right sources
to indicate bear market, and it is very evil
dent that there is too much company on the
short side. Some believe that prices may adj
vance two or three points before Saturdays
closing. Intimatons como from very good
sources that New York and New England
stock is going up shortly, and that the Gran
gers will advance.
The Louisville and Nashville Railway COM
pany announce that they will pay their May
interest through Drexel, Morgan & Co., and
that tho Little Miami railway company pro-
pose to pay off all their first mortgage bonds
maturing May l. All the large traders in the
market were at the Windsor Hotel last even
ing, including Gould, Smith, Morgan, Connor
and Cammack. Mr.. Gould said that he ex-
pected to find a great deal better market in
Wall street on his return from the West,
whether he starts on Friday or Saturday. Mr..
Smith continues firm believer in Northwest
ern, Lake Shore, st. Paul, and Lackawanna.
Mr.. Morgan is doing very little in the market,
but is bullish on Northern Pacific stocks,
Grangers and New Jersey Central.
Regarding New York Central the receiver
said yesterday that whenever the stockhold-
ers pay off the floating debt he will imme-
diately turn over the property and take the
money. Mr.. Connor believes in general
improvement in all good stocks early in May.
Cammack is very bearish, and says that there
is nothing but the short interest on which to
predict an advance.
Mr.. Vanderbilt accompanied by Fred.
(Uncle Jaxe) Ellis, and one OF two other
friends, started for Rochester, N. Y, last
night to examine the New York CentraPs
new structure through that city. They e2-
pect to return tonight. .,
Stocks are lending at about yesterdays
rates. Money at about 8. Sterling is steady
and unchanged.
Stocks arc inclined to improve, but the
market is very quiet. Hollins bought most
of the st. Paul, the sellers were scattering.
Lake Shore was bought by Kissan and Worm
ser. Harris sold Lake Shore; Shook sold
Union Pacific.
The Lake Shore earnings for the third week
in April increased S63,OOO. .. .
There are no seats offering for sale at pres
ent in the stock exchange.
An officer Of the Hannibal road corrects the
wrong impression prevailing regarding the
negotiations pending between the Hannibal
and Quincy companies. The facts are that
the Quincy company offers to purchase at about
Do 60-100 10000 shares Of Hannibal common.
If the holders of the common are willing
to accept this proposition, then the preferred
stockholders may have the privilege of taking
the same bonds in exchange for the preferred
at 100. There never was any doubt but that
the preferred stockholders would accept, but
there are difficulties in tho way of the sale of
the common which will not be overcome, aud
consequently there is scarcely possibility of
the negotiations being completed.
A Philadelphia special says reports are cur
rent there of a cash dividend oil Northern Pa
ciic preferred in July. The net profits Of
this road over its interest charges are known
to have greatly increased.
The Richmond and Danville earnings, whole
system, for the first quarter ending March 81
were 81 ;S52, 900; increase, $1Sl 900. Increase
in net earnings, $3B7,000 ,'operating expenses
were decreased S2o5,000 :, az,
A sharp advance in.Richmond and Danville
debentures fsproposed. ~
Texas Pacific seems TO be without support
and yields easily TO the attacks made on it.
The "room" believes that new issue oi
stock will be made for some purpose, if not to
build the short line to the Southern Pacific
reported yesterday. 1t may, however, be
only ono of Gould's manipulations.
REVIEW.
The opening seemed to be with an improved
feeling, and there was an advance of to
per cent, the latter in Northwest. Central
Pacific rose 4, and Lake Shore and St. Paul Z
but the general market continued quiet until
IL o'clock, when there was a fresh bearish
raid on Louisville by Slayback and Klrkner
which caused, fractional decline all
around. Union Pacific was fairly sus.
tained and Scranton & Willard bought 2,50C
shares. Hollins & Co. bought st. Paul, and
Lake Shore was bought by Peter Nissan and
Wormser & Co. t..
The Northern Pacific stocks were very firm
and it is reported that dividend will prob,
ably bo paid on the preferred stock in July
The Texas stocks Kansas Texas and Texa:
Pacific were generally easier to-day. Wabash
and Western Union were very dull. In the
loan department tho lending rate on stocks
was about A, money lent 8.
Sterling exchange advanced by Brown
Bros. & Co. Government bonds are quiet
Later, money Is lending at 4.
On tho second call Texas Pacific was the
weakest featu' and there was some pressure
to sell on a rumor that Is con pany would
be compelled to issue 81, 100000 or more, in
securities to pay Gould for the money ad
vanced in the past two years, and to pay in'
terest ON Il st mo tgage bonds. ,....
Louisville was active ut 52s to SO. Other
stocks dull and stagnant, and generally in
clined to droop. At 2 p. IN. there were some
indications of a rally on very dull market
At 2:30 the general list was weak and declin
ing, and there appeared to be a general desire
to get out. .-...
The Wabashes were tho weakest, common
selling at 20, and preferred az 46f
Money was last quoted at o. After 2:30 thu
market became active, and under the in1u
ence of free sales declined, and closed weak
and irregular at the lowest prices of the day
Tho withdrawal of support from the marke
to-day looks very much as though the leader
were endeavoring to coax the short interes
with view to twisting it later in the week
The following table exhibits the foreign
exports of wheat and corn from the four prn
cpal seaboard ports from Jan. to April 81
1853 and comparison with exports for the sam,
time last year:
Exports wheat last tyear...,...,,.,....... O07560
Exports wheat this year 13,7229l
,sssiExports Increase. e,.',........'..',.. S7l7,3o
hgA ~. ...s..,,t,.s. .t.r'. sHE-r. '-----
yrSports corn last ear':'''',,..,..,.,... 717O,l7
6Export corn this year,.,..:'.,...,...'.,. HS224s
ss, Exports increase. 1859, 81
LONDON l2:3O-United States bonds un
changed; Illinois declined (; New York Cen
tral Pennsylvania Central Reading !.
GOVERNMENT BONDS.
United States 4JSs, 1891, registered ..r. ll34 l5.
United States 4ihS, 1891, coupon li3i ll3i