National Republican., 1883-06-05
THE MARKETS.
A Very Strong Bull Feeling at the Opening Of
Business in Wall Street.
Active Trading and Good Deal OF Real
izing Causing n Reaction,
GOSSIP OF THE STREET.
cpecidL Dfspdfch.


three months. Tho heads of tho largest COM
mission houses reported notable increase in
in outside buying on Friday and Saturday,
mainly from old customers who had been
idle. Joe Mills said Erie was going to 80,
and the property is in splendid financial
shape. The gross earnings for the past
six months show $750,000 increase,
net gain Of $4,000 compared
with last year Tho bulls claim that Woeris-
hoefier is still very heavily short of the mar
ket, and his Union Pacific shorts amount to
10000 shares. Sage says that Woerishoeffer
will be broke before the years is out unless he
turns bull. Gen. Dodge just from the west
says he never saw so large an acreage or SO
fine conditioned spring wheat crop. Tho
brokers report that Kirkner, Johnnes, and
Bell continue tho leading bull room traders.
They all went homo Saturday largely long Of
the market. A prominent bear house pre-
diets a sharp decline to-day or Tuesday,
and declare that the largest proportion Of
Saturdays buying was to cover shorts. This
house estimates 10000 shares of shorts were
covered in Delaware Lackawanna, 10000 in
Jersey Central, 10000 in Union Pacific,
10000 in ST. Paul, and of the latter they say
that Osborne g. Co. bought the largest amount
sold. This authority declares there has been
large inside selling of Michigan Central and
Lake Shore, also that Eric was advanced to
81 on matched orders. Nevertheless the feeling
was strong at tho clubs and hotels last night
Sunday that, barring natural reactions
prices would rise from 3 to per cent. this
week. Oil was 100 bid Saturday evening, but
the trading was light as tho New York board
has prohibited trading outside its limits,
=. Mr.. Morgan is very bullish on coal stocks,
especially Jersey and Lackawanna. There is
strong bull feeling in Reading and smart
rise is promised this week. Friends of tho
Vanderbilt people state positively that the
next two dividends on New York Central
will be 2 per cent? and the stock will sell
soon at 125. The Michigan Central dividend
win be 3 per cent. Mr.. O. z. Huntington
said yesterday that the threatened freight
war between his road and Gould's Texas sys-
TEN had been averted, and no further compile
cations are expected. He had talk with
Gould on Saturday and after explanations
were made Mr.. Gould withdrew very war
like bulletin, which had been prepared by the
Wabash company.
The German bankerssay there will be large
shipments of Kansas and Texas stock to AM
sterdam this week. The earnings for the
year will amount to 100000 or 100000 in
gross.
George D. Roberts, of the Postal Telegraph
company, states that this company will fly n
battle flag on tho twelfth instant by reducing
the Chicago tariff to 10 cents, day rate, and 8
cents per night service.
The Chicago Tribune says the western rail-
way managers are alarmed at the crop pros
poets and predict light traffic for the next
season. The Tribune is always bearish on the
trunk lines, but admits there was an increase
of 1,69l tons in last weeks movements.
A Chicago telegram says the annual report
of Northwestern company, to be presented at
the annual meeting tomorrow shows net
earnings about IL per cent. on both stocks.
The weather has been showering last night.
1t is now cloudy and warm.
The market opened active and excited, with
Gould's brokers selling Western Union. Her
rick and Dickinson sold New York Central;
William Alex. Smith sold largely of st. Paul,
and the room traders also hammered it.
ii. l. Nicholas and Godet bought Reading;
sellers scattering. Camblos sold Lake Shore
largely. j. b. Edwards sold Northwestern.
George Dickinson bought Union Pacific Hor-
ton and Raymond sold the same. Spencer "
Trask bought most of Jersey Central The
bears are circulating q report Of three i'm
pending iron failures in Pittsburg this week
A Philadelphia dispatch says the Jersey
Central company will open stock transfer
Office there. 1t is reported here that Keene
has calls out on 10000 shares of Jersey the
balance of the year to run at 81 to SO.
In the afternoon the room traders all
switched to the bear side, and there has been
sensational rumors of trouble in the trunk
line pool 1t is claimed that the Delaware
and Lackawanna has secured the bulk of the
traffic. Sam Stern says these rumors are un-
founded.
Trading in st. Paul is large and excited
Bell sold 1000 shares and afterward bought
them back. Chaplin has just bought 1900
shares.
1t is reported that slayback sold 5000 of
st, Paul to-day and Cayrll 5000, Ed. Chaplin
bought 1000, Bird 1000, and Bell 5000 of the
same.
LONDON, 12:30.-Amercan stocks steady
and higher; Erie, higher New York Cen
tral q; Reading, 1-16; Lake Shore, Lie; st.
Paul, j; Ontario and Western, /; Illinois, I
all higher; Louisville and Nashville, 3-16
lower; United States As higher.
REVIEW.
The market opened excited but generally
ito II higher. The market was feverish and
outsiders continued cautious Before noon
the room traders turned bears, and sold the
general market furiously, and on the second
call the market became dull with everything
down to !, except Jersey Central, which re-
tained its advance about }. st. Paul was
fercely hammered and sold down about per
cent On very large trading New York Cen
trail sold per cent, and Lake Shore on ru-
mored trouble among the trunk line poolers.
Union Pacific, on very heavy sales declined l
point. The bears circulated reports that the
trunk line pool would smash up inside Of
forty-eight hours. They also claimed that
Gould was selling tho market. Connors
Brokers were sellers of Western Union. The
Omaha stocks yielded only slightly on the
announced proposed issue of 1000 shares of
new common and 1000 of preferred stock to
represent new road
In the loan depart ment stocks loaned at 2,
New York Central and Jersey at l. Money
was offered at 3. Sterling was dull aud
steady. Wheat declined in Chicago IL and
corn cent to-day.
The market for railway bonds is dull, gov
ernments strong and to higher At 2 pm.
stocks stiifened little, but the market ex-
hibited free selling Jersey Central was OK
ceptionally sliff and maintained its advance.
Others were generally feverish and lower.
Reading gained about II on tho day and in
the latest dealings was the strongest on a
dull market At 2:45 the trading was light
and the tendency downward. The market
closed weak, caused by large offerings and
free, large realization, -r'.-
wAsHtsoroN STOCK EXCHANGE.
f.a4 --r. sDistrint0r Columbia
permQncnt Improvement Us. lo0l, colin. 1IGls
Permanent Improvement Is, 1891. curry. l2i ....,
Market stock 7s, 1892 currency. 12l ,,,.
Water stock rs, 1901, currency l27 1879
Water stock ~, 1903, currency l2I ...
fttty-year funded 385, 1921 currency.... l00A 1l0
Twentyyear funded 5s, 1890 currency ,.. ,,.... lis
Thrty-year funded is, 1907 coin a...... ...,- 1915
Fire Iasurdnce and Gds-Ltght Cbmpdltss.
Washington City GasLght. ..,.par o.. 37I IS
kienen = lnaurhnce.,..,, ,.....-.,,",2O, 45S
NAuonhl Union lhsurance~..,.,.,,",:5O ;.,.- 2OH