National Republican., 1883-09-18
THE MARKETS.
A Higher Stock Market Predicted for This
Week.
Gould Believes There VIII Bo n Gradual
Improvement from Now ON.
GOSSIP.
Specict Dfspdict.

way troubles in the west do not spread. A
strong effort will bo made in Chicago to-day
to restore rates of fare, but the result is in
considerable doubt, rs some of the lines arc
pronounced for war. Northern Pacific and
the Moptreal Exchange bank suspension are
the only clouds hanging over the market this
morning.
II is not thought tho bank failure will be
very bad, as the assests equal $3,75o,000 aud
the liabilities So 100000; surplus assests S91O,
0O0 surplus, $4,000. Tho depositors and
note holders are amply secured. The traffic
on the. trunk liuess last week eastward
was the largest of the season, 49,500 tous, in
crease $500. Commission houses report some
increase in depand for dividend paying
stocks, aud. that they find it castor to sell
these than to buy at current prices. There
seems to be a truce between the opposing
forces in tho market, and moderate ad-
vance appears on the programme, Scott sold
out all his long stocks last week with big
profits and went home. Ho thought rail
way war very probable, and ho advised his
friends to sell out, but not to so short, be-
cause Gould.was under the market and they
might get twisted. IT is rumored that Louis
willie and Nashville stock will be called in "
from the street to-day, and the price be
pushed to about 55 this week.
Mr.. D. o. Mills arrived yesterday from
California, and the Erie bulls expect conse-
Queut rise in the stocks.
Joe Mills says Gould tells him that there is
no question is his mind about the market
improving gradually during the rest Of the
year, and there is a constant steady absorption
of stocks by the public which will soon be felt
in the market. Tho Wabash road, he said,
earned as much money last week as the st. Paul
NOT tlnr pnp thn ri
that Gould is preparing new southwestern
amalgamation, including a reorganization,
with o consolidation of the Wabash, into the
Missouri Pacific. AS the story goes the
Missouri Pacific will aheyRithe Wabash and
the stock OF the latter will be made the GoH-
mon stock of the Missouri Pacific, and the
present stock of the Missouri Pacific will, be
the preferred-the new capital to be $50000,-
600 common and $30000,000 preferred. But
the railways say the laws of Missouri forbid
consultations of parallel lines, and the
Wabash is already leased to the Iron Noun
tain for ninety-nine years. Mr.. Morgan is
moderately bullish on the market, and the
room traders are decidedly so. Rufus Hatch.
just returned home, is a bull on all roads west
of Chicago, although he is only interested in
Northern Pacific. Corn has been injured by
frost and drought (Iatch says, but the in
creased acreage will more than mako this
good, and he thinks that corn is q sale.
New York weather cloudy and quito sultry,
no rain since Friday. y
Exchange 4.s2l to 4.S5h
WALL STREET.
The market opeued dull but strong Kno-
blach, Berdan and Jameson were prominent
buyers of New York Central, and Knapp and
Peabody and 4Iinton were sellers. London
bankers made an effort to buy Erie, but they
got but little stock, as their orders were appa-
rently limited.
ID. o. Mills, just from the west, says all tho
trunk lines are rushed with business, and the
Erie has several miles of loaded cars waiting
motive power. In Reading Blandy sold, and
Van Hoffman and Stout g. Co. were buyers.
In Oregon Transcontinental Hughes bought,
and Charley Johnes and STayback sold. In
Pacific Mail, Peck, Smith, and e. o. Davis
bought, and John O'Brien sold. S. V. White
bought Lackawanna.
Sterling exchange'unchanged Money to
2. Stocks generally londl to 2. Jersey fat
to l.64, Louisyille.and Nashville 1-64.
THE Denver's earnings second week of Sep
tember increased $4,000
Reports concerning the Western Union are
revival Of the old story that possible ad-
verse decision by the court of appeals in Oc-
tober regarding the $l5,0O0000 increased cap
ital stock would be met by the issue of n like
amount of per cent bonds, which the di-
rectors will be pledged to take at par-ths
money to be employed to buy 10000 shares
OF stock, and the disputed $15,000000 issue
will be thus retired. Taking stock on the
price basis of 80, the purchase would require
S13,500,0O0 of the S15000,000 derived from
bonds. The saving in interest charges would
then furnish reason for making regular divi-
dcnds of s, instead of Z, as now.
Bank of MontrealApeople here in New York
say the Exchange Bank of Montreal has not
failed, but will wind up and accounts will be
transferred to other banks.
Ruttcr u Gross were large buyers of Mich
igan this morning, Lake Shore was bought
by Fanshaw, Thayer, Bell, and BeelSman
The sellers were Willard Oakley, and FL
liott. Berdan bought of New York Central
altogether $500 shares, Gracio & Westervclt
about the same, and George L. Dickinson
also bought. Sellers were scattering. Erie
was principally bought by Bird, c. n. Brown,
Parks, ,Warmser and Harmed. The sellers were
VIM Stanton, Van Hoffman, and Niles. In
Reading, T.. Il. White bought considerably,
aud Sternberger and Field bought Louisville.
Prince & Whitley sold. Very much Of the
general trading up to now (1:l0 p. m.) was
between the traders, and a good many shorts
covered
Itisannounced that arrangements have just
been completed for listing Western Union aud
Missouri Pacific in Amsterdam. $l200,000 of
Missouri and Kansas stock is held in Amster-
dam.
Chicago telegram says Omaha earnings
fell oil last week. Tho president of the road
says III was OWING 10 delay IN grain shipments
and decrease in the Manitoba passenger traf-
&c, but the second week will show a large
gain.
President Boep of tho Northwest road,
telegraphs that corn has been damaged CON
sidOrably in Wisconsin apd Minnesota Mr..
Sykes Of tho Northwest road, says the frost
damage in northern Iowa has been consider
able. The warm weather of last week helped
the crop.
IL is said tho Lackawauna cleared 900
I out Of tho Lackawanna Blnghampton extern
sion in August
Boston houses say the Montreal bank sus-
pension has had no important effect there.
Mr. Woodward of the Hanover bank of
New York the correspondent Of tho Exchange
bank of Montreal, says tho latter bank still
has a considerable amount to its credit here,
and all obligations in New York have been
promptly paid upon presentation.
\ REVIEW.
The market opened dull, hositating fover-
ish, but hrner, with most OF tho trading in
(he Wizards, telegraph, Lackawanna, and
tue Vandcrbilts. Shortly after the opening
uadertone became strong, and by noon values
Ind risen to II per cent, tho latter for Mich
igln Central. On the opening there were
heavy purchases of New York Central, re-
pored for European account Lake Shore
wasRirly active and telegraph quite firm,
/ The Western special kilograms reported corn
somewhat damaged by frost last night along
! the lines of st. Paul and the Northwestern
also on Rock Island lines, Most ortrading upto
second vail was between theroom traders, md