National Republican., 1883-07-03
THE MARKETS.
The Approaching Holiday Has a Depressing
Effect on Wall Street.
Crop Reports From the wcst-Demands Of
the Western Union Operators.
speeih pispaicn.

do express great confidence in sharp improve
ment soon after. AT present the room traders
have closed out their deals and declare they
are going to stay out until the market gets
active. Gould emphatically tells his friends
that he anticipates q much stronger and
moro active market within ten days and
much higher prices within a month. He
argues that had the general condition of
affairs in the street been in an unhealthy
shape the past fortnght's furries and
depressions west would have broken
the stock market from 10 to 20 per
cont, and the fact that this decline did not
occur was owing to the great inherent
strength and stability of the stock market,
which is good evidence that the tendency
is toward advancing. Russell Sage and MIR.
Connor expressed similar views and say they
expect to sSe an exceeding strong and higher
market before August. Prominent foreign
banking houses, which have been buying
heavily of New York Central at about 100
and under, say their European clients regard
the stock cheapas an investment even if divi-
dends are reduced TO 6per cert.
The large increase in eastbound trunk line
tonnage is very gratifying TO the roads and
stockholders, and the increase Is expected to
be greater this week, on movements of grain
and provisions. Important and favorable
things are promised in tho Wabashes this
week, and their friends believe these stocks
will lead the whole Market
Woerishoefier declares his disbelief that the
general crops will be rs large rs expected, and
the great danger to spring wheat will not be
passed until tho last of July or first of
August. The bears say that corn promises
bad, and the extraordinary rains have pre-
vented cultivation. kilograms to David
Dows represent that the strain on tho board
of trade in Chicago has terminated, and the
present big movement of breadstutis and pro-
visions is proof that produce has reached buy
ers figures throughout the country. The
bulls on grain and the bears stocks gen.
orally claim that the crop prospects have not
improved within the last week, and the cold
stormy weather has caused much loss in the
west.
Stocks were inclined to droop to- day owing
to the usual holiday dullness The room
traders are bearishly inclined. Prince,
Whitley, and Nat Hunting sold Cana
da Southern. Johnes offered Lake Shore.
Bird and Marx and Morris Brown bought
Reading. John Wallace offered stock and
Bogart sold. Kirkner and Walter Nelson
sold st. Paul Mckenzie was tho principal
buyer of Union Pacific 1t is reported that
the Western Union operators will this week
present their bill of grievances to Gen.
Eckert. They will demand payment for
Sunday work and shortening hours for night
service and an increase in extra service pay
ment.
Slayback offered Union Pacific down, and
the room traders attacked the stock, but with
out much effect The Canadian Pacific di-
rectors will meet in few days and declare
"a per cent, payable about Aug. /.
Denver earnings for the fourth week of
June showed $41 800 increase. The Colorado
receipts were $166,400 Utah, $27,500.
Mccormick, Adams & Co., of Chicago. have
crop returns this day, showing shortage of
about 100000 bushels in the wheat crop of
Michigan, Ohio, Indiana, Illinois, Missouri,
Kansas, and Kentucky. tEa
The corn crop acreage increased per cent.
in Ohio, 8 per cent. in Indiana, 10 per cent.
in Illinois, Il per cent. in Missouri, 10 per cent.
in Kansas, per cent. in Kentucky, per cent.
in Iowa, 18 per cent. in Nebraska.
1t is estimated that the percentage of crop
will make good as follows In Ohio the stand
is Is, Indiana Is, Illinois 19, Missouri Is, Kan
sas 6, Iowa 20, Nebraska 49,
Corn generally back kward, but promises well,
and correspondents generally speak hopeful
of it.
LONDON 12;30.-United States bonds un-
changed New York Central, ZIG lower
Reading, ! lower; St. Paul, lower; others
unchanged.
In New York the weather is clear and cool.
REVIEW.
The market opened dull and at about Sat
urday's closing. Soon after the opening it
DSCdlne weak anu uCClluCu 4 10 q, Ile most
on Jersey. The room traders who were gem
orally bearish, led by Slayback, made Wig
orous hammering on Union Pacific, but with
out much effect.
Western Union subsequently declined one
point on the attack made upon it on the an
nouncement that Judge Friedman had de-
MED the motion to dissolve the Hatch Will
Jams injunction restraining the old S1500O,-
1000 stock issue.
Union Pacific was sold vigorously on re-
port that the June earnings declined $l50,OO0.
On the second cali " holiday dullness pre-
vailed, and trading dwindled into insignif-
cance. 1t was reported that the operators
would present their bill of grievances"
this week to the Western Union company.
The telegraph people say they will never ac-
cede to their demands. The lending ratio for
stocks was 2; New York Central fiat to l
Jersey fiat; money 2 to 2l sterling un-
changed. In tho last hours stocks were very
quiet and not over strong, business being
regarded as virtually dead until after the
9Th Money for the rest of the year lent
at 81. Money closed at 3. The amount of
interest and dividends paid here to-day are
estimated at S70,000,000.
Stocks at the close were fairly steady. What
little trading there was showed the undertone
to be strong. About one-thrd of the brokers
have left the street for tho balance of the
week, and no activity can be expected till
next week.
Stecidt Dispatch
CHICAGO. July 2.-Wheat was unsettled
and greatly excited closing IL to Ii cents
lower than on Saturday latter in August.
Values were controlled by local influence.
Shippers were not buying, and all legitimate
influences favored lower prices. The harvest
weather is splendid, and the crop reports con-
tinue to improve. July 100, August 1924,
September 103s Corn sympathized with
wheat. 1t opened ! cent higher, weakened
under large receipts and free offerings,
and closed IL to ct cents lower than on
Saturday; July 49, August 40s, Septem-
tember 5Ot. Oats closed to 4 cents
lower than on Saturday. July 322, August
2Ss September 29S. Pork was weak and
closed at As to 47l cents lower than on Satur-
day; July 1857, August 1905, September
16.20. Lard was weak and closed at Is to
17l cents lower than on Saturday; July
9.174, August 9.31l, September Gas. Deliv-
cries Of grain and provisions in July CON
tracts were la'ge. Hogs were weak and 10
cents lower than on Saturday. Packing for
June 1900 larger than for that month last
year Brokers estimate tho stock of lard at
10000 tierces.
GOVERNMENT BoNDS
B,d asked,
United States 6s 1881 iDlIS -
United states 4ss 1891 registered -,...... Ilgfl li3
United States iiss. 1891, colpon ....-.,. l2i llS
United states Is 1907, Registered llSs llOlk
unhed states ls l9G7, coupon ,.....,,.. llS6 ll9G
united STATES dar..,.. "'''''.'''- luis lnEs
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