National Republican., 1883-12-04
THE MARKETS.
Sensational News From the Seat Of the
Western Railroad War.
Tho Tone OF the Market Decidedly Foverish
and Unsettled.
GOSSIP.
SpeciIl Dispatch.


NEW YORK, Dec. 3.-Cammack, Woers- |
hoefIer, & Smith made the most of the Carlisle |
nomination at the Windsor hotel yesterday, |
and were more boarish than ever, and the
general impression was that there would be
some reaction in the market this morning in |
consequence.
Mr.. Gould was somewhat surprised over
the nomination, but he thought Carlisle not
nearly so great an extremist on free trade 90
had been reported, and it was doubtful If any
great change would be made in the tariff.
Gould continues to talk bullish, and said he
never knew time when so few stocks are for
sale as now. He is quite bullish on Wabash.
Vice President Huntington, of the Central
Pacific road, thought Carlisle's nomination
bad for the country, but it would give us q
republican president.
The Vanderbilt brokers continue bullish
on Lake Shore but not on Central, and it is
reported the Central proposes TO issue S20-
100000 of second mortgages for the purchase
of u new road supposed to be connection
with the Pennsylvania coal fields. Mr.. Rut-
ter's friends deny this. They admit there may
be an issue of S10OO0,OOO of some sort later
on, as the company require funds to purchase
q road. Tho trunk line people arc gratifed
by large increase in east bound tonnage
last weeks increase, 15,4O0 tons. Mr..
Vanderbilt tells his friends that these
roads have q large winter traffic assured,
and. in his language, stocks will go "kiting'
after the first of January. Tho pool in Erie
talk 36 to 81 for the common in ten days.
President Fish, of tho Marine bank, who is
new director in Erie, has been buying con-
siderable stock lately. The short interest in
Erie is estimated at 100000 shares. Jewett
says Erie will earn per cent. on common
this fiscal year. One wall street house alone
L., hnl ln., To-. nnha aNCE E,..a ~,
last May. Brokers say Saturdays advance
was owing to the operations of Keeno. Hutch
inson, and orders from Conner's office, but
they think Gould sold some Missouri Pacific
Conservative mon are generally dsinclined
to buy stocks.
Private kilograms from Chicago say it is
true that the Union Pacific, Rock Island, and
st. Paul roads signed agreement designed to
break up Iowa and Colorado pools aud ami
hilate the Burlington and Northwestern
roads. A war is therefore practically decided
upon.
The Tribune says the secret traffic agree
ment is certain and is new combination
specially aimed at the Chicago, Burlington
and Quincy, and gigantic war is in prospect
General Manager Haghitt of the North
western, confirms this alliance against his
company and adds that the condition of
affairs west of tho Missouri river is about as
bad as it can possibly be.
There are thirty-two pages to tho agree
ment between the Union Pacific and the
Rock Island and it is iron-clad in every
way. 1t is believed in Chicago that by
Wednesday the Chicago, Burlington and,
Quincy will knock the bottom entirely out of
rates.
The orders from Chicago this morning are
generally to sell st. Paul.
Government bonds strong. Money, 9 to ct.
Sterling is very soft and bankers say the
direct rates will be cut before the day Is out
1t is announced that the Jersey Central's
October earnings were $4,000 in excess of
the rental.
The Rock Island directors are in session
and the regular dividend will be declared. II.
III. Porter says tho war rumors from the west
arc grossly exaggerated. s p" ~
Sage thinks the election of Carlisle is bad
for the market and for the country.
REVIEW.
Stocks opened steady, but under sharp
raids by tho bears on the railway war news
from Chicago sold off I to l cent, tho latter on
Michigan, st. Paul, and Northwestern, and
Northwestern common; Northwestern pro-
ferred rose /; ST. Paul was largely sold on
western orders.
The effect for the moment at least of Mr.
Carlislc's nomination was depressing, but the
most potent influence was that tho Union
Pacific and Rock Island and the st. Paul had
signed an agreement to annihilate the Iowa
and Colorado pools and the Burlington and
Northwestern roads. The new combination
is aimed at the Chicago, Burlington, and
Quincy beyond u doubt.
The most active stocks were Delaware and
Lackawanna, st. Paul, Northwestern, Erie
Lake Shore, Union Pacific, Oregon Trans
continental in the order mentioned. The
general market was very active on opening.
Tho room traders were general sellers of
the market. Money 2 to "a. Sterling weak.
Governments steady.
Keene has been largo seller of the whole
market to-day, including 10000 shares of
Lackawanna. The market was oppressively
dull between noon and o'clock, and feature
less, but the tone was heavy. In the railroad
bond market West Shores were promiuent
and declined to "a. The dullness continued
during the closing hour, and there were no
features worth recording. Speculation
seemed to wait upon news from congress and
the situation west among the warning rail-
ways.
STOCKS. r,s ssasaIs
Tho 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