National Republican., 1883-02-17
THE MARKETS.
The Immense Damage by Floods in the West
Has a Depressing Effect.
Everything Seems TO Encourage the Hears
and Unsettle Prices,
REVIEW OF THE DAY.
Specioi Dispatch.

NEW YORK, feD. lO.--lne opening was
weak upon the report of floods and cutting of
railway rates.
Osborns brokers sold Lake Shore and New
York Central freely. and offered sellers OPP
tions ON them. Wabash stock was depressed,
and raided by the bears on reports of dam
ages by floods. Louisville and Nashville de-
clined on rumors that loans would be called
upon stock in the street to-day in consequence
Of damage by the freshet.
Later it was reported that the Louisville
and Nashville companys lines had not been
Interrupted, and that traffic was o. X.
There appeared TO be pretty good general
solltngup TO noon by insiders and the main
buying came from the shorts. 1t was gem
orally conceded that tho damage in the west
would amount to but little short of q national
calamity. Tho outlook in the west is dis
rouraging.
At the second call there was a rally on
dull market Tho Wabashcs, Reading st.
Paul and Lake Shore wero weak. Tho sell
ers' 60 put out on Lake Shore and New York
Central to-day hurt the Vanderbilt properties.
Stocks loaned generally at TO g., but Lake
Shore, New Yak, Delaware and Lacliawanna
were renewed Mt 1 and in some cases Della
ware and Lackawanna lent fiat.
Government bonds were strong; exchange
dull and money "A to A.
In the last houFtho market was weak and
dropping. Erie was especially depressed to
3i2 Greene sold 1000 shares and the other
sellers were Slaybacll and Scranton. 1t is
thought the stock was for Bcldcn's account
Tho market rallied in the last half hour
from J to per cent. on free buying by the
shorts, but in tho last five minutes some of
the gain was lost and the market closed very
unsettled. The short interest is quite large,
and but for the free selling of long stocks tho
market would have been rallied much higher.
An unsettled market is looked for tomorrow.
FACTS AND FANcIEs.
Keene jumped on Erie, causing break.
1t is privately reported from Philadelphia
that the Norfolk and Western railway will pass
its next dividend.
A private dispatch from Mccormack,
Adams & Co., Chicago, says: "Heavy rains
prevailed throughout the west again last
night, and the weather is still unsettled.
Spectators report serious damage to winter
wheat, but VIC take little stock in these stato-
ments,"
One judge of the supreme court says the
Virginia coupon case has not been examined,
but will probably be reported for decision on
the first day of the meeting of the court
March 8.
A Cincinnati dispatch says there are serious
apprehensions and prospects Of more rain.
In Lawrenceburg, Ind, 5000 people are
homeless.
A Louisville dispatch says the crisis is dan
gerous. The river is rising l foot per hour,
and dwellings are swept away.
Van Schaick & Co. bought 5000 shares Of
st. Paul common.
The room is bearish on Louisville and Nash
vile, and there are rumors that loans will be
called on the stock to-day, owing to a fear of
damage to property by floods and rumors
that the company is again in pressing need of
money.
A private dispatch just received, dated
Louisville to-day, says: "The river men say
the worst is over and the river will be falling
to-day. Estimated loss of the falls cities does
not exceed $2,5OO,00O."
Delaware and Lackawanna lends at 9 to
fiat; Lake Shore and New York Central at the
Same rate. Lake Shore was sold this morning
by Osborn brokers. Walsh offered large lots
at 106, sellers 60.
Denver earnings increased during the Sec
ond week $11, 100.
Rumors arc current that something very
favorable to Northern Pacific common and
Union Pacific will soon be made public.
MORNING GOSSIP.
Gould is generally credited with being n
liberal purchaser of Union Pacific, and there
are strong promises that it will be sustained
at prices very near the present quotations. The
Osborn, Cammack, and Woerishofler people
are short of Union Pacific and some coal and
granger stocks, and they expect to get back
all the money they lost on the January bull
campaign. Boston people bought consider
able Union Pacific yesterday, and Sage was
reported buying. st. Paul and LaclSawana
were said to have been manipulated by the
Osborn party
Traders and the street are bearish and go-
ing short. Cammack said last night there
could be no improvement in Wall street un.
til after the effects of the floods had passed
away, and even then the market was likely
To decline.
There is positive information of serious
trouble in the east bound trunk line pool,
and officials admit there is freight cutting
going on, which will surely end in demorali-
zation or a regular war, if not stopped.
The Grand Trunk transferred seventy cars
to the Delaware and Lackawanna at Suspen-
sion bridge at cut rates, The Delaware and
Lackawanna is not in the pool, and the Grand
Trunk had no right to make the transfer.
LONDON, 12;3O.--Illinos declined a, New
York Central \, Reading Z, Pennsylvania
., Ontario and Western /, st. Paul /, and
Erie all declines
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,
70. l CorcOran building: