National Republican., 1883-08-16
GOSSIP.
Special Dispatch.

Der of the board said last night that there
was another prominent concern in the street
embarrassed, but IL may be tided over The
name of the house did not transpire.
A leading Broadway commission house,
with numerous private wires and facilities
say their customers were heavy buyers Of
good stocks up TO p. m. yesterday, but in tho
last hour they sold again very freely, proba-
bly, because they did not understand the stu
alton of the failure The general feeling of
the best and most conservative traders is
that selling has about ended and that the
market is going to advance.
Foreign houses report that London bought
yesterday despite the associated press reports
of panicky feeling abroad.
Bears and some "order brokers" on the
board claim that Gould was again heavy
seller yesterday, but shrewd dealers say if he
was on the surface he was probably buying
quietly, or the brokers were used by HIM to
create this impression. 1t was said he sold
10000 Union Pacific down to 81, and that he
also broke Western Union.
Woerishofier said last night that he hasn't
bear on Western Union and didn't believe
Gould wouldsel stock in this way. The stock
showed in last hour when touched 724, but he
knew nothing of Mr.. Goulds operations since
1850.
Slayback offered the Western Union stock
down, and it was said that an attempt to cap
ture stop order for 5000 shares at 20 was
the objective point, but for some unaccount-
able reason the order had been withdrawn.
A prominent Western Union bear says the
real weakness was caused by inside selling on
the Mackey accession to the Postal Telegraph
company.
The money brokers report time loans to
per cent. for four to six months.
FROM THE STREET
The brokers report good buying all around
the room. In Erie London buyers are buy
ing, and Oppenheim bought 5000 shares.
Sheldon is large buyer Of Northern Pa
cifc.
In New York Central the buyers were
Oppenheim, Moulton, Sternberger, and Field,
and some of the Vanderbilt brokers.
In Lake Shore the buyers were Wormser,
Kirkler, and Campbell. Tho sellers were
Howard, Lapsley, Drummond, and Fairchild.
Sternberger and Fuld sold 1000 Laclkawanna.
Trading in Western Union was very heavy,
and the buying demand is good.
j. & w. Seligman say they have received
large foreign orders for stocks this morning,
particularly from Amsterdam.
A Philadelphia dispatch says the amalga-
mated iron workmen's strike is terminated
and the men have resumed work. Tho Phil
adelphia stock market is dearer this morning
for reading. Tho Reading Coal company is
only taking orders for coal after Sept. l, sub
ject to an advance. W. H-.....t d..
There is q report in Northern Pacific circles
in Philadelphia that Gould settled his shorts
in these stocks on basis of 70 and 70.
To-day's Chicago Tribune says Vanderbilt
is seeking limo from st. Louis to Kansas
City and Omaha. 1t is thought he is trying
to obtain control of Wabash. Gen. Dever-
eaux, Tillinghast, and other Vanderbilt peo-
pie are now in Chicago.
One per cent. is bid in the street to call
10000 Reading at 60 for the rest of the year,
and the same rate is bid to call 10000 Lacka-
wanna at 100. Sterling barely steady.
Texas kilograms report light rains. Spotted
cotton is reported.
Brokers report stocks generally very bad
for delivery day. Jersey J, New York Cen
tral l-32, and Lackawanna lending fiat. 1t
is reported that Vanderbilt bought $1,000
New York Central yesterday and to-day.
The Western Union directors now in ses-
sion reported that considerable number of
operators returned to work this morning and
that there was an application from u body of
men to Gen. Eckert for reinstatement Tho
company takes the position that every man
who struck was then and there discharged,
The question of employment must be based
on their present capabilities without regard
to past services or experience in the com
pany's service
1t is understood Gould is letting Western
millions owned by the Gov. Morgan estate
cheap.
The Stedman failure is peculiar, and there
is much sympathy for the senior member, as
the losses were mainly made by the junior
through outside speculation. Mr.. L. G. Sted-
man, after announcing the dissolution in his
letter to the board, said
While examining the affairs connected with the
failure of Cecil Ward Co. und the extent ofmy own
loss, am advised to suspend payment and have
accordingly made an assignment, in which my
late partner has Joined, To John McGinnis, IT, for
the protection OF the creditors Of L. C. Stedman e
Co, having previously fully met all obligations in
the stock exchange and having closed all outside
contracts. L. C. STEpMAN.
REVIEW.
The market opened brisk and feverish, al
though the tone was generally firm. West
ern Union advanced ct almost Instantly. The
Northern Pacific, Union Pacific, Oregon
Transcontinental, Delaware and Lackawanna,
Erie, Lake Shore, Western Union, and st.
Paul shares were most active. The buyinp
at opening was good, the Germans soooping
in Erie, one of them (Oppenheim) buying
5000 shares.
Large buying by commission houses of all
the dividend payers was especially noticeable,
and the public seemed TO realize that prices
were near their proper level
There was large buying of telegraph stock.
Amsterdam was buying in this market as well
as London. Sidney Dillon says there is no
pro rating, and the net earnings of Union Pa
ciic this year will foot up $2,00O,00O
In the loan department New York Central
lent 1-32; Jersey A; Lackawanna flat. Money
3 to 4; exchange steady
The market was strong and advancing mn
to l o'clock, Oregon Transcontinehtal feeling
tho improvement most. The announcement
of f. G, Stedman & Sons failure had no
effect.
The market was dull ON second call, roaot-
ing to from best prices, but stll showed
handsome improvement on opening. At 2:30
the weak feature was Western Union, and the
Gould stock, generally were weak.
The markets closed up fairly firm at an
advance Of from l TO per cent over the
closing prices of yesterday and, while the
advance is In large degree due to the cover
ing of the shorts indications point quite
conclusively to u laying away of some of the
best OF the investment stocks and con-
siderable purchasing for long accounts.
Boston adviOes place Ba!lOu's liabilities at
three-quarters Of million, and IL is posi-
lively asserted that Mackey has entered the
Postal telegraph. Ii Is reported that Cornell
has sold his Western Union.
LONDON, Aug 15.-Erie lower, New York
Central Is higher, Illinois ex-dividend /
higher, st. Paul II higher, Lake Shore :
higher.
By Associdted PrfSs.
NEW YORK, Aug. ia large number of
persons thronged tho visitors gallery at the
stock exchange this morning expecting to
see the sgenes of Veste erdaV ronaatad Western