National Republican., 1883-08-01
THE MARKETS.
he Strike and the Boston Failures Continue
TO Hold Prices Down.
Trading In the stock Exchange Dull
stock and Grain Quotations.
GOSSIP OF THE STREET.
CnscjoI n5pnot,B

GOSSIP OF THE STREET.
Special DisDatch.
NEW YORK, July 31.-The bulls generally
agree that prices would have closed stronger
and higher yesterday but for the trade sus-
pensions in Boston, announced late in the
day, and the bears exaggerated the business
embarassments which would follow. Private
Boston advices this morning represent that
no further disaster in this connection is ex
pected. The stock brokers report u good
many large Saratoga orders to buy, and 1t was
believed that Morgan, Smith, and Osborn
were heavy buyers The room traders bought
a batch of stock early, but sold out in the
afternoon. These traders are operating for
to points Sage thinks the chances are five
to one in favor of an extended bull move
ment, and he is sweet on Wabash preferred
and money. He believes in a stiff rate for
funds this fall regardless of the called bonds
Speaking of telegraph operators, no said,
"We'll beat 'em yet" Connor says the bears
generally think that there is no profit in
hammerng the present market, and they are
watching Woerishoefier says there is no
substantial improvement. Yesterdays ad-
vance was simply Saratoga water rise"
which will soon pass Mr.. Jas. Seligman
says there are no European buying orders in
his morning. Business men, the morning
papers generally say, are satisfied that the
telegraphers' strike is practically broken,
Messages are beginning TO come through with
but trifiing delays between the prominent
cities. Some delay is complained of at
smaller stations. The operators say their
ranks arc as unbroken rs ever, and they are
confident of winning the fight.
The Boston Journal says the Shaw tannery
failure amounts TO $3,500,000 and the nomi-
nal assets arc $5000,000. Fifteen thousand
hands were employed, and it was the largest
concern in America. Several firms in the
west have succumbed on this account.
The room traders say there is no trading
and they are going home Slayback and
Kirkner sold Oregon Transcontinental Slay-
back put Union Pacific down to 90; Shelton
sold New York Central Lawrence & Smith
bought; Van Emberg sold st. Paul Kirkner
was the larger seller of Western Union, and
Simpson was the largest buyer.
Jersey and New York Central are lending
fiat Lackawanna and Louisville at 1; st.
Paul, to 2, and the others at to 2; money
at2.
Kirkuer bought New York Central and
Carey sold. Berdan bought Lake Shore and
Haight sold the same. l.. i. White bought
Union Pacific. Boyd had large orders to buy
by the room traders and Bell, Horton, and
Wormser.
Governments are dull with light offerings.
Sterling is fairly active at 4Sl to 81.
The Chicago Tribune says the Iowa pool is
in trouble on account of the alleged cutting
of rates from Des Moines.
1t is reported that the Iron Mountain COM
pany has sold 5000 acres of iron and timber
lands along the line to q New York syndi-
cate at handsome figures The Aurora branch
of the Northwestern railroad will be open for
business about August l. An adjourn
ment was had yesterday in the Hatch Il Will
liams cases against Western Union. The
stockholders of the New York and Sea Beach
railroad yesterday voted to increase their
capital stock from $500, 900 to 10000 for tho
purpose of making needed improvements and
to facilitate business. 1t is said that syndi-
cate is forming to take up the increased stock.
1t is rumored by wire from the west that O
great accident occurred to Grand Army ex-
cursionists near Denver, Col. 1t is said one
hundred lives were lost. The rumor is not
confirmed.
The Telegraphers' Brotherhood are repudi-
ating the action of the men who cut the
Western Union wires near New York and
through the west about midnight Monday,
and say they do not countenance such action
on the part of linemen. The strike is pro-
ceeding to-day without special incident. Both
sides are confident
REVIEW.
The market opened steadier than was ex-
pected considering the Boston failures,
but the room traders jumped on Oregon and
Transcontinental, breaking it l per cent;
other stocks generally sympathized to the ex-
tent of to decline, but the tone was quite
steady. The Boston financial uneasiness
affected Union Pacific, which declined 4,
The room traders and Boston parties were the
sellers. The failure of Shaw yesterday led to
the failure this morning ofC. Ii. Ward & Co,
for $250000.
The general loaning rate was 2; New York
Central and Jersey lent fiat; Delaware and
Lackawanna and Louisville and Nashville l
per cent. Money IL to 2. Sterling fairly
steady. Governments dull ON small offer
ings. During the forenoon the market was
dull and weak at a decline of to }, Wabash
preferred being exceptionally weak and II
lower. Old bears have been selling stocks to q
considerable extent on the failures in Boston
and the threatened calling out of railway
operators by the brotherhood. On the second
call the room traders hammered the market
to q staudstill aud trading languished. At
2:30 the market was dull but steady.
The further failures in Boston were causes
of some feverishness, but the small decline
since this time yesterday shows that stocks
are in strong hands. At 230 stocks gener-
ally rallied fraction but did not hold, and
the close was weak with positively nothing
doing in the room.
LONDON, July 31--12:3O.- Erie, higher;
Reading, higher Ontario and Western, /
e-snher; Illinois, higher.
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,