National Republican., 1883-06-19
THE MARKETS.
The Chicago Failures Serve to UnSettle Prices
in Wall Street.
Dull and Irregular Trading with n Gem
orally Downward Tendency.
GOSSIP OF THE BOARD AND STREET.
SrlcclnI Disnnh,h

Gould, Sage, Morgan, Smith following had
points for q higher market this week, and
the Vanderbilt party were entertaining the
same view They all say that but for the
suspensions in Chicago the effect of the de-
cline in prices there and here should havo
had a favorable effect upon stocks, mainly,
because the lower values must naturally
cause increased foreign shipments to Europe
and general domestic distribution.
The many large traders in the Chicago
market are out of grain and into stocks dur
ing the past week. and this class of traders
arc busy in wall street. The biggest bull
stock operators assure their friends that there
is no possibility now of trunk line complica-
tions as the leaders of them are bulls and
long of stocks
Lake Shore is ticketed for 1.20 this sum
mer and the other Vanderbilts will be
boosted. The coal shares promised further
advance the coming month Of 10 TO Is points,
and st. Paul is booked for 1.20. An advance
in Canada Southern is promised this week.
A sharp rise is projected in Northern
Pacific stocks, and 1t was claimed they
would begin moving to-day. The room trad
ers were generally Hopping to tho bull side,
and looked for higher general market this
week. The Gould people say the Wabash
stocks are liable to go up more than anything
else, and on Saturday IL was learned the large
holders of the Wabash Car Trust bonds just
coming duo had agreed to a three years eX-
tension on the guarantee of tho Iron Mountain.
This removed from the Wabash company an
obstacle which promised to be troublesome.
The large foreign bankers say that the move
ment of American securities this way from
London ceased ten days ago. Atlantic and
Pacific railway stock is TO be listed in New
York, probably this week, and further ad-
vance in the incomes is promised.
Insiders in Northwestern declare tn ere is
10 and Is points in the common TO buy, and
strong people bought it Saturday.
The sellers of Lake Shore were Leavitt,
Flo yd, Jones, and Probst; Hamilton and Con-
nor bought. Youngs and True sold 1,500
shares of Reading, and Morris Brown bought.
Hughes and Prentice bought Union Pacific I;
the sellers were Kirkner and Raymond
Hughes bought Wabash, and the room traders
sold. Drake bought Wabash preferred. Nat.
Hunting bought North Pacific preferred.
Johnnes bought 5000 shares of Lackawanna;
the sellers were scattering. II. s. Wilson sold
Western Union the buyers were scattering.
Mr.. Gould talks very bullish on the market
to-day.
1t is said that the Pacific Mail company is
in full accord with the Union Pacific and
Central Pacific roads, and likewise advanced
California freights from to-day 20 cents
per 100.
The Northern Pacific railway has begun to
sell through tickets to the coast, running a
stage line 156 miles; fare $22 time from St.
Paul to Portland about seven days.
George f. Dickinson is bidding for Lake
Shore. The most of tho trading is between
the room traders. Business is extremely
dull.
A Chicago dispatch says that the large con-
tracts are not yet settled, and there have
been no failures in the board to-day. Copious
rains in Texas insuring good corn and cotton
crops.
A motion to vacate the injunction restrain
ing the Western Union Telegraph company
from transferring its dividend stock, and from
paying dividends on the stock, were made in
the superior court this afternoon. The com
pany proposed to give bond for fifteen mil
lion dollars In place of the injunction.
The Canada Pacific earnings for the second
week in June increased $4,000.
I; A Chicago dispatch says the weather is gen.
orally clear and hot. The rain is about over.
Curb prico of wheat opened 1851, and ad-
yanced to Oh. Corn opened at 56l and is now
56t. There have been "a fow land slides on
the Atchison, Topeka, and Santa Fe road.
The proposed settlement of McGeoch's in
debtedness gives general satisfaction. BY the
help of Armour, Planklington & Mitchell %
per cent will be paid at once, % in onths,
and the balance in IL and 1S months, with
notes at 8 per cent,
REVIEW OF THE DAY.
The market opened with per cent. ad-
vance in Denver, Northern Pacific preferred,
Western Union, Central Pacific, and North.
western, but gradually eased Off ! pcr cent,
the feeling being irregular, partly owing to
the unsettled condition of affairs in Chicago.
Lake Shore was sold by the room traders.
Sterling exchange very dull and steady.
The earnings Of the western roads for the
second week AS reported to-day show an in
crease in st. Paul of $62 900 Northwest
$500; and Omaha, $4,000. 1t is reported
from Philadelphia that the Pennsylvania rail-
way is slowly absorbing control of Lehigh
Valley, notwithstanding the denials of its
officials, and Mr.. Packers unexpected start
for America is doubtless in connection with
this matter.
On the second call stocks were dull and
irregular, and the room traders, led by Dick
inson, who attempted to put up prices were
unsuccessful in makinga rally. Tho leading
stocks declined to l as compared with the
opening figures, Tho latest Chicago dis
patches reported panic in wheat, which fell
three cents per bnshel to-day.
There were no failures announced in
Chicago to-day, but the excitement and de.
preston reacted upon new stocks and caused
dullness and weakness horo. This should
not be the case, but the fears of western sus-
pensions caused much apprehension here
Usually break in breadstuts and provisions
causes n stronger stock market.
At 2 p. m. there was a rally of ! to pei
cent on light trading, and at $3.50 there was
rather moro trading and signs of frmer
closing. The most of the list is to point
below the highest quotations of the forenoon
A decidedly firm undertone prevails, but the
western situation is greatly depended ON to
shape the future course of the market.
At the close the market was irmer on
favorable Chicago reports.
LONDON, l:30.-American bonds and stocks
quiet. Erie, lower; New York Central
unchanged; Wabash, lower; Reading,
Lake Shore, 3.l6; st. Paul Louisville ant
Nashville, II Ontario and Western, 4; Hi
nois, Pennsylvania Central, l. All lower
WARRINGTON STOCK EXCHANGE
District OF Columbia
Permanent impTovement Is. 1891, coin. IlBk ii6l
Permanent improvement rs, 1891. curry l2l Il2
Market stock rs, 1897, currency l2l4 .,,.
Water stock rs, 1901 currency...,., .,,. l21a 1915
Water stock ~, 1905 currency. 1868 ,.
Finy.year funded 3.65 8al. ourrency... IO0S ilOl
TWenty-year funded 6s 1sp2 cOin....,.,.. li6 Ii8L
Thirtyyer funded Gd 1907. coin -..,... .. IS. l2il
EHe Insurance and Gds-Lt0a C1mpdntss
Washington City das-Light' ...,par 2o,. 80 81
Columbia Insurance ..,..".,..o... "a 81
Potomac Insurance COmpany-.".....",, -,,.- 40
Railroad STOCKS.
Metropolitan; -,,.,. n
North Capitol ana street-.., ,".....SQ.,. S5 -..
Anacosua.,,",,,.'... ..,.,'2o,,, va
Free ltsL
Hoard OF Ruplo works.',.' .;,'. w'
Masonic Hall bonds ........":.. lol .."..
Washington Market Co. --stock'.....0g'. los -"".
Ivunhoe Mining Co.-stock ........... d.. l3 .,,.
MRsh'n Brick Mach Co.--stock ...,,iOO,, 70 -,,.,
Bank of 10 ..,,p
Bank OF Washing tou,. -
National Metropolitan bank. 100. 1876