National Republican., 1883-02-09
THE MARKETS.
A Better Feeling at the Opening, Followed by
a Further Decline.
A Good Demand for All Stocks Mt the
Close-The Cotton Trade.
REVIEW OF THE DAY.
iypecidi DfsDdtch.

Special Dispatch
NEW York, Feb. S.-The market opened
with better feeling, and there was plenty of
evidence that Gould was buying the general
list assisted by Smith and the Vanderbilt fol-
lowing A rush of shorts to cover Lake Shore
ran the price to Ill, and the lbaning rate rose
to premium. Mr.. Coombs, one of Henry
Smiths brokers, lert 5000 shares at D..
New York Central Went to 1876 and loaned at
!. Northwestern lent fat and Union
Pacific at 2. The bears covered largely of
Union Pacific this morning, At noon there
was a slight reaction and again on the OPEN
ing-which extended to most of the list-of J
to point.
The twisting Of the shorts apparently dulled
tho market just after noon, when trading be-
came lighter. At the second call the market
eased up by J to II. Woerishofier sold the
general market, and appeared to be pulling
out stock for bear clique this afternoon.
The stocks that were most attacked were
Union Pacific, Delaware and LaclSawanna,
and Denver. Money on call stood 81 to A,
The general market was rather weak and
irregular at o'clock. Union Pacific ap-
peared to bo sustained by Gould and other
strong parties buying on every reaction.
Later the whole market strengthened New
York Central leading. Eugene Thompson, u
Vanderbilt broker, took all the New York
Central offered, and the stock was turned for
thirty days at per cent, the basis
being 1861 regular and 1851 seller. Tho
market closed firm, with good de-
mand for all stocks. The buying to-day has
been for both long and short account, and
would seem to indicate a highcrSmarket to-
morrow. The settlement of the Mutual
Union and Western Union differences and
the near approach of the elevated railway set
tlcment, has no doubt put Gould in better
humor, and he may give the dear public u
bull market as n sign of his apprecia-
tion. The hcavincss of Western Union
in the last two years has been
from the very heavy capitalization.
If rumor hears Alright the company has as
sumed nearly twenty million additional obli-
cations in tho Mutual Union settlement
This may be a bull card, but the public may
not think SO.
POINTERS.
Brokers report plenty Of orders to buy
Union Pacific on every reaction, and it looks
as ii the strong parties were buyers.
WoerishOflcr has sold great deal of Union
Pacific, Denver and Lackawanna, and Denver
and Rio Grande and, in fact, everything and
he is great bear.
The state senate finance committee has re-
ported a resolution ordering proceedings to
be begun TO cgllect the Western Union $780,
coo back taxes, but it has been referred back.
1t is reported from the stock board that the
bull party decided to buy in no stocks under
the rule to-day for non-delivery. The bulls
are buying some New York Central this after
noon and the shorts have been covering.
Sterling is advancing.
Government bonds are strong on old and
weak on new owing to the silver question.
Paris bankers cable that a firmer feeling
prevails, and rentes have risen 224 ccntimes
this morning. ...4r.a.
In the New York market the loaning rates
are about as yesterday, only Lake Shore is !
bid for its use; money, 34@4.
The Boston Transcript says: The earnings
of Union Pacific for the year 1852 differ but
slightly from those of the fiscal year ending
July. The surplus for the year was raised
$3,7O1,00O.
1t is rumored that the Erie railway pro-
poses to issue five or six millions of collateral
trust bonds through Drexel, Morgan & Co.,
which may come ahead of the second consol-
idated bonds. NJ. Fabri, member of this
firm says that it is not true that this house is
asking subscriptions, but he prefers not to
make a statement at present.
Lake Shore has lent at TO 4, New York
Central Hat at 1-6l and Northwest fat, Union
Pacific 2, and Traps 3,
Scranton and Willard have covered shorts
in Union Pacific, and there has been gem
eral buying of Lake Shore and other shorts
all around the room.
EARLY MORNING GOSSIP.
Up town prominent traders continue bear
ish, and declare that yesterdays rally won't
be sustained. They argue that the calling in
Of borrowed stocks will result in another
raid and lower quotations. Nevertheless 1t
is reported that the Vanderbilt party and
other Lake Shore bulls propose to call in
10000 shares from the street to-day of gem
eral stocks, and will next twist the North
western shorts, afterward st. Paul, then Union
Pacific. The short interest in st. Paul is very
heavy. Brokers say Gould and Sage bought
about 100000 shares of stocks of all sorts yes
terday. 1t was believed in the hoard that
Gould had been heavy seller of Union Pa
chc
The agreement between the Western Union
and Mutual Union was signed late yesterday
afternoon, the former guaranteeing tho in-
terest OH the bonds and IL per cent. dividend
ON the stock of the latter, Cammacll thought
the Mutual Union people sold themselves
very cheap, and it was the general impression
that the Mutual Union officers would soon be
closedup The telegraphers report that the
Western Union business is very heavy, and
the main Broadway Office is forty men short
handed.
CammaclS believes the general business of
the country is very light, and the dry goods
aud iron business is at a standstill
20 90 brokers report the short interest ON the
\ naral market very large, and they are afraid
u be short.
Thore are no further symptoms of liquida-
ting in Delaware and Lackawapa, but there
was a little in st. Paul on the scare of shorts.
There was some " feeding out" of Omahas,
and Harry Wilson was II prominent seller.
Commission houses bought good many gem