National Republican., 1883-03-07
THE MARKETS.
Another Day Of Uneven Trading with Down
ward Tendency in Prices.
Reports OF Heavy Gold Shipments from
Europc-Increose In the Bank Rate.
THE DAY IN WALL STREET.
SDecidi Dispdicn.


NEW YORK, Mar. 6.-The market opened
steady except Reading, which declined on re-
Iort of default in subscription. ST. Paul
common likewise declined on an unfavorable
financial showing published.
There was not much of Jersey Central offer
ing, and it was strong.
The general list dulled and became easier
On dear money, the leading rate advancing to
7per cent. Vanderbilt stocks and Wabashes
declined general speculation was tame and
lifeless between noon and 1 p nj. London
sold Erie down here this morning. Private
London advices say gold is leaving there for
America, and more will follow tomorrow
and Saturday. Sterling exchange is dull
and nominally steady. Government bonds
were very quiet 1t is reported by private
Washington dispatches that Secretary Folger
has no idea of making any new bond call for
a long time. The loaning rate is good. The
loan market is very heavy except for Reading,
which was scarce and loaned fiat to 1854. On
the second call speculation was stagnant 1t
is reported that Gould is going to Florida
this week. At 2:30 p m. the tendency con-
tinued downward with the quotation ! to II
below the best prices of the morning. Money
loaned up to 10 per cent.
The market closed as 1t has been all day,
dull and dropping. The bad weather has had
much to do with the general dullness.
The weakness in Jersey Central this after
noon was due to rumor that the Lehigh
Valley had broken ground at Elizabeth for n
tidewater connection in opposition. A Phila-
dclphia dispatch says the Lehigh already has
water connection at Perth Amboy.
There are alarming food reports from Ar
kansas and the situation is critical. The
Iron Mountain railway bridge aud others are
submerged.
Seligman & Co. say there is no other specie
en- route from Europe except the e1,0O0,000
sterling.
1t is stated that $s,690,0Oo Texas Pacific
incomes are outstanding, secured by 4,500O00
acres of land. The land deparsment owes the
company about $l50o00.
Morton, Bliss & Co. have ordered 100000
sterling. The Bank of Montreal hero has re-
ceivod dispatch that 100000 sterling have
been withdrawn to-day for shipment.
Money is at bid, offered at7; time money,
bid for sixty days, Government bonds
buying bonds. Sterling quiet.
Jersey Central was bought up by Johnes,
Wharton, Kerny, and Quincy. Not much
stock offering.
MORNING GOSSIP.
The upward movement yesterday fully met
the expectations of conservative operators,
who predicted it Sunday, and the impression
still prevails that the best buying is yet
going on. Room brokers say that Gould
made yesterdays advance, especially In
Delaware and Lackawanna, which stock
is said to be good for 100 this week.
Commission houses bought literally, and
one Broadway house, with extensive special
telegraphic connections, said they purchased
moro stock yesterday on country orders than
in month before.
Foreign orders to buy Eric was very large,
enda great deal was bought for London on
cablegrams.
The purchasing by the room was considera-
bic aud traders think the market looks we'll.
Tho selling of Union Pacific and st. Paul
came from tho California party, led by the
Bank of Nevada people.
Keene is bullish on Union Pacific and holds
a large amount. There is said to be very
powerful bull party in Texas Pacific incomes,
upon which Ii per cent. or two years accrued
interest is due.
The British Bank of Nor til America has
100000 in gold en- route for New York from
Europe. This is aside from 100000 sterling
withdrawn from the Bank of England yester.
day.
1t was reported last evening that Mr. Van
haA haa,
from certain uptown savings banks. The at
tempt to break st. Paul yesterday is said to
have been instigated by director of the road,
who was caught short, and who furnished the
garbled report for publication.
Foreign banks report that they will ship
large amount of Lake Shore to London to-day
and some New York Central stock.
Woerishotler and Cammack declare the ad-
vance won't hold, and say the prices are only
got up to sell the market down again.
LONDON, 12:30.-United States 4Is lower /;
New York advanced !.
THE CROPS IN EUROPE.
Special Dispatch.
NEW York, Mar. 6.-Robert Bruce, No. GO
Broadway, says that the wheat market al
though higher than the closing Saturday, is
is not strong and it looks as though the "un-
suspecting public" had bought the property
from the regulars" Corn is very firm and
we'll sustained by the advance and demand
for the lower grades. Wall street operators
are generally long of almost everything in
Guiding May Ribs"
English advices, under date of Feb. II, re-
garding the wheat outlook, say that, after one
or two clear, cold days, the weather has been
milder, and great quantity of rain has fallen,
causing extensive floods, stopping all agrcul-