National Republican., 1883-05-24
THE MARKETS,
A BulliSh Feeling Prevalent on Wall Street
Yesterday.
The Short Interest Timorous and Not Dis-
posed 20 Jump ON stocks Very Hard.
GOSSIP OF THE STREET.


NEW YORK, May GA number Of the
largest and most active traders say that they
do not care to sell for short account at present,
and say that from the fact that the sharpest
bear operators have bought in the bulk Of
their shorts in the Vanderbilts and other
bhares within day or two fully satisfies
them that the market is liable to be good
deal higher again before It settles.
Brokers say there is good deal Of money
here from the interior SO eking investment in
dividend paying stocks and there are many
inquiries from country customers. There
has been very good buying recently Of Cen
trail Pacific TO hold, and everybody thinks
that st. Paul common is very cheap.
The feeling is not quite so strong on North
western. 1t is claimed that there has been
inside selling on tho lessened receipts.
The largest room traders in Southwesterns
are bullish and say Texas will sell higher
Union Pacific was washed down yesterday,
and the manipulation was enormous. This
stock is very bad delivery, and the shorts are
liable to oversell it, Mr.. Dillon has gone
west.
Sage was not quite so bullish yesterday,
but advised against selling the market.
The Pittsburg Dispatch says 1,5O0 tons of
Marshall & Co.'s pig iron sold yesterday at $14
to $17.25 per ton, being about Sl below tho
market price, not enough to cover the Pitts
burg insurance claim, for whose account tho
sale was made. The banks hold sixty thou
sand tons more, which will not be sold at
present.
Wall street 104o-Stocks lending 2 to g.
Lake Shore in demand at 2; money, @; ster-
ling unchanged
In New York Central the principal buyers
were Davis, Tileston & Co. and Herrick and
Briggs, Gilman, Hatch and Kendall sold New
York Central. In northwest, l.. l.. White
and Worden sold, and the buyers were Isaac,
Chapman, and Prince & Whitley. In Lake
Shore Harmed bought 1000.
In Union Pacific Day & Heaton bought, and
the sellers were Flower, White, Stevens, and
VanderhoA.
G. A. Bennett & Co. bought Lackawanna.
East Tennessee Virginia, and Georgia earn
ings second week in May increased $685. ,493.
Leading iron people here say no reduction S
have been made in pricesby the manufacturers
of pig iron, and the forced sale made in Pitts
burg is unimportant as bearing upon value of
iron.
The Chicago Tribune says the Rock Island
road threatens a war of passenger rates from
Peoria to Kansas City, Atchison, and Leaven-
worth. The Rock Island claims the Wabash
and Chicago, Burlington and Quincy have
been cutting to southwestern points. The
regular rate to Kansas City is $3.50, and
the Rock Island proposes to mako it So, and
Illinois Central has been called and lends
flat in the board. 1t is reported Gould has
bought the market largely to-day. C.J. os-
born is a great bull.
1t Is reported in the board that very large
purchasing orders for stocks to-day have come
from Boocock's office, and that Mills, Morgan,
Osborn, Smith, and Scott have been in con-
ference and are working together. Clews
bought 5000 Erie and 1000 Lake Shore. Dill
Ion sold 5000 Erie.
Chicago kilograms report grain weak on
warmer aud more favorable weather for the
crops.
Light frost is reported feom Cairo last night.
REVIEW, .frcce'7 -
Stocks opened stronger and higher this
morning and prices advanced TO II by noon.
The largest trading was in Union Pacific, but
without any important gain in price,
The Vanderbilts were moderately active,
but the gain In prices was not important.
Northwest was vigorously sold early in the
day, and touched 1884, but subsequently raj.
lied with the rest of the list.
The market was strong and higher on sec.
ond CALL and it was reported that Gould't
brokers were buying, and that strong bull
pool had been formed in Central Pacific The
street was full of points TO buy it,
Stocks loaned to 3. Lake Shore was in
demand at g. Delaware and Hudson lent fiat
and Illinois Central commanded a premium
for use the floating stock in the street having
been called in.
Money lent at 3, and at close offered at 81.
Sterling was weaker with limited trading
Trading in Erie was large to-day Dillon
sold 5000 and Clews bought 1000.
At 2:45 market was stiff at the highest
prices of the day. The market closed firm
The haltng of the market this morning
caused some Of the bears who covered yester.
day to renew their shorts this morning, and
any attempt ON their part to cover during the
day was q signal to mark up stocks to a
higher range.
This would indicate that the stocks have
gone into strong hands, and that the short in
terest will have to climb higher for them
1t is generally believed that there will be
stronger market for q day or SO until tn,
present short interest is well covered.
The London closing prices show decline
from the opening. Eric declined /, New Yorl
Central 1, st. Paul D. Pennsylvania Centra
advanced /, and Reading !.
Sterling is less firm. Money offered at 81
There is a sharp borrowing demand for Della
ware and Hudson.
LONDON, 12:30.-Wabash preferred
higher; Reading, unchanged; st. Paul,
higher Louisville and Nashville, lower
Illinois, higher; Ontario and Western,
higher; Erie, ! higher, and New York Cen
tral, higher.
STOCKS.
The following are the opening highest
lowest and closing prices of the principa
stocks for the day, as corrected by special wir
reports received by Bateman & Co., bankers
No. 1411 + street northwest
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