National Republican., 1883-08-22
THE MARKETS.
The Tendency Sill Downward in the Wall
Street Exchange,
The Presidency OF Denver-New North
Pacific Bonds-- General Gossip.
Special Dispatch.

Special DisDWch.
NEW York, Aug. 21.-Almost everybody
agreed that yesterdays stock market hinged
on Denver, but exactly what produced so
great breakdown in tho latter has not OK
nctly developed. great deal of long stock
showing largo losses was unquestionably sold,
and the bears on the property state that the
company finds itself unexpectedly in pressing
need of funds to keep the road in running
order through a difficult country. Beside
the long continued 75 per cent. war ratio for
fares between Denver and Pueblo has madh
the treasury lean, and the management
is consequently severely condemned for
maintaining so ruinous struggle. The
feeling on the market is bearish
and irregular trading was looked for
by the gossips at Long Branch last evening.
Jt was reported that Gould had sold extern
sively and gone or was going to Mt. Desert
on his yacht for several days visit.
There were some bearish rumors Of trouble
in Connecticut insurance circles, but this re-
port was not confirmed. Tho Woershoefer
party say the reaction of yesterday was to
have been expected because tho rise from last
weeks decline had been too fast to be genuine
and stocks had been unnaturally forced up
Woerishoeffer covered the bulk of his shorts
last Tuesday and bought long to moderate
extent
The room traders said last evening that
they were bearish and of course predict that
bu0 10 oONSluA poihpo AAOhA OAAS poeVOih
yet.
Stocks lent at yesterdays rates. Sterling
unchanged. Money att to 3. In Lake Shore
Walker and Goicuria sold 1000 shares. In
st. Paul Eells was tho largest seller and
Bloodgood & Co. bought. In Union Pacific
Enos was the principal seller. In Erie there
was nothing of importance but London stock
was for sale at 20. There was no special tea-
ture in Western Union, but sustaining orders
were in the market at 76. Davis and Minis
sold 1000 of Louisville, Henry Bros. and
Campbell sold Lake Shore. The principal
buyers were Ryerson and Won Hoffman. In
Denver the biggest seller was Joe stephens,
and the buyers were Coombs and Harry Du-
rand.
1t is rumored in the stock exchange that
the Denver road has settled on president,
but the directors are inclined TO keep the
name secret except that the officer selected Is
prominent railway man, who will be en-
trely satisfactory to tho stockholders.
Harding and John Benjamin have been the
largest sellers of Erie to-day. The attempt
to break stocks by raidng Louisville was q
failure. Both Louisville and Denver were
raided to get stock, but the general market
refused to yield and the undertOne is frmer.
1t is rumored that Newcomb headed the
raiders on Louisville. 1t is rumored that
early in September soon after driving the sill
yer spikes the Northern Pacific company will
issue $15,00O,000 in equipment bonds.
Inc market opened ACUlVc ana Benerally (
to easier, but there was no special raiding
except on Denver, which opened at 23g, de-
Clining to PIT on heavy sales by 10. Stephens,
the buyers being Coombs and Harvey Du.
rand. Close observers said that the market
looked as though it was let down to buy on,
and that favored shares were certainly being
absorbed at the decline. On the opening
Walker, Goicuria & Co. sold 1000 of Lake
Shore London offered Erie freely in tho
morning at 20. Western Union had sustain
ing orders at 76.
Henry Bros. and Campbell sold Lake Shore;
Won Hoffman and Ryerson bought. 1t is un-
derstood gentleman of established reputa-
tion has accepted the presidency of the Den
ver that he is we'll known railroad man
and will give entire satisfaction to the stock
holders. Tho directors decline to make his
name known at present.
At IL o'clock prices were about as they
opened. st. Paul, Lackawanna, Texas, Union
Pacific, and Wabash preferred did not partlc-
ipate in the decline of the forenoon. The
failure of Scott & Knight had no apparent
effect on speculation.
Shortly after noon stocks became strong,
and on tho second call the most active shares
were 1 per cent above tho opening, except
Louisville, which was below.
At 9 p. m. prices were off to from tho
rally, but generally showed again from the
morning.
Western Union was strong feature. The
Northern Pacific stocks were rather heavy,
on the bond issue referred to.
About 230 the feeling was better, and a
sharp rally set in, which looked like per-
manent advance, but the closing prices were
about as before the rally.
The tone of the market at the close was
quiet but steady.
LONDON, 1890 p. m.-Erie, Ii lower; Read.
ing, I lower; New York Central, q lower
Illinois Central lower.
STOCKS
The following are the opening, highest
lowest, and closing prices of the principal
stocks for the day, as corrected by special wire
reports received by Bateman & Co., bankers,
No. 1411 + street northwest: