National Republican., 1883-05-22
THE MARKETS.
Prices Continue to Go Lower and Lower in
Wall Street
A Report That woerishocHcr Is Selling
Gould's stocks-Ccntra1 Pacific Gossip.
GOSSIP OF THE DAY.
Speciaf Dispatch.


NEW YORK, May 21.-About the clearest
obtainable views this morning upon the
probable course Of the stock market to-day
indicated some probable improvement in
prices There was widespread belief that
lower prices would follow before the weok is
out, especially for western railways, partly in
consequence Of the threatened war of rates,
sc. Nothstandiug tho denials of his friends
the street continues to believe that Woeris-
hoeffer is the agent of Gould, and that he has
therefore been the principal large seller of
stocks. Woerishoetier was not able to be out
Saturday, and his friends say he did nothing
in stocks. He is, however, convalescent and
will be down town to-day.
Tho market Saturday was hurt by the sale
of 10000 shares of Union Pacific by the
largest and most active operator, and the
room traders, acting upon the theory that he
would next throw over a line of shorts in
Northern Pacific, offered the latter down in
consequence. These traders say that the
dullness of Saturday convinces them that
the smart rally Of Friday was almost wholly
due to shorts covering, and, as no new
business resulted from the break Thurs
day, they believe further liquidations
were buying stocks last week, and think
that the lowest prices for the present month
have been seen, and the market is about on
the bottom. Sage says Western Union is
good purchase and he is understood to be
buying on q scale, as usual, to sell on the rally
to So. 1t is reported that the old Central Pa
cife directors are buying up their stock
largely. Huntington says that per cent.
dividends are sure to continue. Seventy
three per cent of the companys business is
local.
. 1t is reported on good authority that the
Now York CentraPs earnings for April were
$3.50 900 larger than for the same month last
D year; that for seven months of the present
fiscal year the receipts showed II gain of 3d.
000, 600 in gross and $1,000, 900 net.
"a The Times (Chicago) special and other gen.
eral adYiees give very full grain reports, and
they show that while all the harvest pros
poets are not satisfactory, the general indica-
tions are encouraging. The bears circulated
a story yesterday that pig iron would drop "
more to-day. Chicago kilograms Uust receivedJ
report cold northeast winds and thermometer
down to 36. The bad weather is advancing
grain.
Sterling is stiff at an advance this morning
Government bonds are dull but strong for
small lots.
Walker & Goicuria sold 10000 shares of
Delaware Lackawanna and Western, supposed
to be for Gould's account, and Kirkner also
sold; Scranton g. Willard and Slayback
bought Delaware, Lackawanna and Western,
supposed to be for covering shorts.
Mr.. Gould discountenances the circulation
Of alarming stories from London, and believes
them put forth for effect.
prominent trader on the bear side offers
TO wager $500 or $1,000 that $40, 100000 Of
American gold will be shipped to London by
Aug. to pay for stocks sent here for sale.
A London dispatch at 230 p. IN. says Ameri-
can railways are firmer.
Goodchild sold Lake Shore, and Johnes
bought; Kuhn and Laeb sold New York Gen.
tral, and Herrick bought ! Peters and Pell
sold st. Paul, and Drake bought e Peter X is--
sam sold Lackawanna, and kirknef Bought
Hughes sold 1000 shares Of Omaha, which was
very weak
REVIEW.
The market opened weak and heavy, and
the room traders sold extensively from the
very beginning. Prices fell to per cent. the
first half hour, Texas Pacific and other west
ern stocks being especially heavy, upon re-
ports of unreasonable weather in the grain re-
gions and snow reported in the northwest
The London nows was also rather more un-
favorable, tho failure of Turton, the great
operator in Mexicans, being finally announced
Sterling was stronger and advanced ]. At
nom there was rally of to per cent, but
thBactive stocks continued to I below the
opening. In the loan department. stocks
loaned at l., 2, and 3per cent; money was
offered at 3.
1t was reported from Cincinnati that the
Ohio and Mississippi was cutting rates on
east bound passenger business. The short in
terest in the general market is excessive, and
a further advance is regarded as quite proba-
BILE at any time.
At $3.50 the market active, with declining
tendency. There was no decided rally for
the day, and the market closed weak and
irregular from pressure of long stocks.
LONDON, May 22-l2:30.-Erie, 9-16 lower /;
New York Central, lower; Reading, lower;
Lake shore, lower; st. Paul, IL lower I;
Wabash preferred 3-16 higher.
90 sTocKs
Tho following arc the opening, highest,
lowest, and closing prices of the principal
stocks for tho day,as corrected by special wire
reports received by Bateman q Co., bankers,
No. 141l + street northwest: