National Republican., 1883-04-02
THE MARKETS.
A More Encouraging State Of Things in the
Wall Street Exchange.
The Facts and Fnnoies thht Affected
Trading Last Ycck-Prognostica
GOSSIP ON THE STREET.
Spccidl Dipdich.

last night and tho general impression was
that prices would be improved and next week
considerable advance would DO noted.
Said q bull The plan is to ontrap as much
short interest as possible, and manipulation of
Omaha common yesterday was for that pur
pose.
Harmed pretended to sell 1000 shares and
Combs, 1000 of Omaha common, and
this induced two of the big bear brokers in
the room to put out batch of low-priced
stocks, which aftorward they could not buy
back without loss
The WcrisholIcr party also put out 5000 or
5000 shorts in Northern Pacific, common, to
break the market, but that trick likewise
failed, as it was all taken by the Willard pco-
pie. In Oregon Transcontnental bears were
more successful and lot Of genuine long
stock was frightened out A prominent New
England house threw over about $500 shares
with u loss Of per cent. not liking appear
anco of the stock. The street and small room
traders are doing little but waiting for money
TO become cheaper.
Bears declare market scalping one for |
TO per cent, and will continue until seeding .
is finished.
Mr.. w. l.. Scott says Vanderbilt leaves for .
Liverpool on the Britannia May one, ard that |
he will accompany him. Vanderbilt goes for |
n months pleasure to sec the Derby, and .
later Mr.. Vanderbilt will 90 over again to re-
main abroad for six months
Scott is u furious bear on stock and great |
bull on wheat. lie says he has just returned |
from Il long trip through Ohio, Michigan, and
Illinois, and that winter wheat looks poorer |
than in thirty years. He thinks the damages /
about 40 per cent. aud harvest go por cent. of
last years Scott believes stocks great sale,
and says western business is very poor.
Osborn also talks bearish on stocks.
Chicago kilograms by private wire say that
advices from Nebraska say that railway
tracks are lined with train loads of corn, and
that with the present facilities il would take
two months time to transport to Chicago and
eastward tho visible corn along the railways
The cribs arc ovcrnowing, and farmers have
been compelled to return home with loads Of
corn because there is no store room at the !
depots
Special reports from Chicago by private
wire say: Every full telegraphic reports to-
day estimate the average damage to winter
wheat to date at about 10 to Ii per cent. in
Michigan, Ohio and Indiana, ) per cent. in
Kentucky 20 per cent. in Illinois, 15 to 20
per cent. in Missouri and 5 per cent. in Kan
sas. They say it will be impossible to deter
mine accurately tho extent of damage until
April"
REVIEW OF THE DAY.
The market opened stiff aud strong with
few stocks offering, The advance established
during the morning was | to 1, the latter on
Central Pacific and Omaha preferred.
Nyse, Son g. Brown bought heavily of
Northern Pacific preferred, Cews & May
bought Lake Shore. the Germans bought
Denver, Henry Smiths brokers bought st.
Paul and Lackawanna, and room traders were
generally bullish. Johnos bought Union Pa
cifc, Lackawanna was bought by lIotchkss,
Burnham, Vermilyc q Co.. and the sellers
were scattering -" =, & sht
The grangers were firm, and the North
Western roso 1 per cent, being fapoFably
affected by advices from Nebraska feh6rtihg
great deal of old corn coming to market
Streets were full Of reports respecting damages
to winter wheat by winter killing, but from
the best obtainable information from the
west it is not believed exact damage can be
ascertained before the middle of April.
The bank statement showed increased re-
serve, and had favorable effect on market
which strengthened, and prices of the day
were highest at noon.
Money 6. Stocks loaned at 5 and 6. New
York Central, Michigan Central and Read
ing loaned to-. Government bonds strong and
dull.
Sterling exchange toppy and moro bills
offering of all kinds. In last hour trading
continued dull and without feature, money
loaning at 3.
RETROSPECTIVE AND PROSPECTIVE.
Such chances rs hnyp oppu rrn1 1urinU bo
week have tended to improve the situation.
Rain has soaked the drought plagued portions
of California, and, while it is too soon to pre-
dict abundant crops as a result, thore can be
no doubt but that the position has been re-
lieved of its most somber features and that
the future appears dressed in more roseate
colors. Reports with regard to winter wheat
and the preparations for spring sowing in tho
west have been of an encouraging character,
and the marked fall in the Mississippi has given
the cotton planters hope. Farm work in this
region has been advanced by'the favorable
weather which has prevailed during the week.
Notwithstanding some bacllwardncss of spring
in coming forward, The existing conditions
are such as to justify the belief that nature Is
bull on the market, Crops, crops and still
crops form the staple of conversation in mer-
camille and business circles.
All sorts ofdisquioting rumors are set anoat
with regard to tho crops by speculators who
dress them up in funereal attire.
Money has advanced rapidly TO an easy and
normal position during the past six days.
Further relief is looked for in the anticipated
offer by the department to meet the l2Oth
call, with interest to presentation date at the
rate of $5,OOO,OOO weekly from Wednesday
next.
The advance in foreign exchange rates is
attributable partly to our easier money rates
and partly to the Bank of England's an
nouncemcnt that the proportion of its reserves
to its Liabilities had been reduced to 3Sl per
cent
The stock market has been more active dur
ing the week with Central Pacific, the soft
spot on Monday On Tuesday the market
was irregular in the morning, but strengthened
up later in the day, and maintained the inn
proved tone ON most stocks mp to the close.
Wednesday was the most active often days;
but on Thursday realizing sales hammered
the market, and unfavorable rumors in con-
nccton with tho Oregon Transcontinental's
new stock issued affected il and tho Northern