National Republican., 1883-08-29
THE MARKETS.
Some Faint Symptoms Of Returning Conf
denCe and Activity
The Gossip OF a Comparatively Quiet Day
on wall street.
GOSSIP OF THE STREET.
gDecfdt DfsD1fcn.

Special Dispatch.
NEW YoRK, Aug. 2s.-The active brok ers
report that there was some very good buying
aside from the shorts covering, and the
shrewdest room traders think the general
market looks rather better, but perhaps q
little tricky and uncertain. The conserva-
tives also say that prices may be higher
within forty-eight hours, but they are not
banking" much on 1t Immediately, and
they thought stocks in several cases were bid
up at closing to steady the market woef-
ishoeffer bought in good many, but he said
last night the time was not yet to buy
for long account. Mr.. Jesse Seligman says
London did nothing here yesterday, but Am
sterdam bought considerably. The report
that Mr., Smith has turned bear upon the
market 10 denied. There Is said to be bear
bobtailed pool in New York Central, who be-
gan putting out about 500 shares yesterday
on seller 60 days. 1t is said that Drexel,
Morgan q Co. yesterday requested Decker,
Howell n Co. TO send into them $1,000 shares
of Oregon Transcontinental, sold by Drexel,
Morgan & Co. for tho account of customer
when the stock was up to S5. Fred Lovejoy,
the proposed new president of the Denver
road, met Woerishoeffer by appointment at the
West End hotel last night and it is under
stood that unless the property is soon sold to
other roads he will be the president 1t is
stated that Ballou & Co.'s statement to the
stock exchange insolvency committee makes
liabilities $75O,000.
Tho Lake Shore selling on opening was
principally by Minis and Henderson, and
Scranton & Willard sold S. V. White was
also q buyer. Not much was done in New
York Central but Davis & Minis offered the
stock, seller go, at 113. In st. Paul, Work and
Strong, Content, Slayback, and Oswin O'Brien
were sellers. Tileston was buyer of St.
Paul. In Northern Pacific preferred Burrsss
was seller In Reading Van Hoffman was
prominent buyer. In Union Pacific L. NJ.
Iravers bought the most, and Henriques sold.
Clews sold Northwest. Western Union and
Erie were dull, and no features. New York
Central and Jersey Central lent flat to 81
Lake Shore and Louisville fat.
1t was reported on the street this morning,
but is not guaranteed to be fact, that it had
been ascertained that the Northern Pacific
Railway company had a floating debt of about
$17000,000, and that the Oregon Transcon-
tinental company will issue, or have author
lied the issue of, fifteen millions of debenture
bonds, Which will be sold for whatever they
will bring 1t is understood that the In
forest on the proposed debentures may bo
guaranteed by the Northern Pacific Railway
company.
A Philadelphia dispatch says there is less
demand for money, and rates are easier. 1t
is reported at Philadelphia that bull pool
has been formed in Reading, one house taking
10000 shares. Gowen says the company will
earn per cent. this year and the stock
London was considerable buyer to-day,
and one order was executed for $500 Lake
Shore 1,500 Union Pacific, and 1000 Erie
also $500 st. Paul. Russell Sage declares
that now is the time to buy, and says Mr..
Gould is bull. Wilson and Whitmore have
bought Jersey, and the low selling came
mainly from Slayback. Herts bought 1000
Lackawanna. 1t was III. 1. Nicholas who put
out the seller go in Western Union this morn
ing. Mark Hamilton was the largest buyer
OF the morning of st. Paul. Chicago tele-
grams say weather unsettled, with heavy
rains in the northwest
1t is authoritatively stated that Lovejoy
has announced his willingness to accept the
Denver presidency provided the company will
first place 1t in sound financial shape.
The feature of the market on second call
was bear raid against Lake Shore. Louis
Bell sold 1900 and the other sellers have been
Osborn 81 Co., Drummond, NJ. q. Bonner and
Willard. The most stock bought was by
Harry Wilson and Ellison. There are rumors
that the Lake Shore may lease the Wabash
Pacific lines east of theMissssippi river.
Boston advices say merchant there doing
large shipping business has entered suit
against the southwestern freight pool for
diverting his shipment from the Rock Island.
The court restrains the commissioner of the
pool in 81 900 from interference.
The senate labor committee are greatly in
favor Of government telegraph.
REVIEW.
Stocks opened dull and tame, with none of
yesterdays feverishness, and there was a
fractional advance in the frst few minutes,
Northern Pacific preferred rose to ~, subse-
quently became weak after a few shorts had
covered. The report that the company had
an enormous debt and had guaranteed the in
terest on 100000 debenture bonds for the
Oregan Transcontinental served to break the
price Of Northern Pacific preferred II, al
though the decline was afterwhrd recovered
upon Mr.. Wizards denial. Trading generally
was confined principally to the floor" Dem
yer, Louisville, New York Central, Reading,
and Western Union were the best sustained
stocks. On the opening Minis sold Cake
Shore heavily, and the room traders offered
options on New York Central seller 90 at 113;
money % to 3. New York Central and Jer-
sey Central lent fiat at Lea and Lake Shore
and Louisville fiat. Governments were ex-
tremely firm. Stocks were duh at noon, at
figures slightly above the opening. Central
Pacific was exceptionally firm.
On tho second call there was renewed weak
ness caused by hammering off Lake Shore,
which carried the stock below par. Ut was
rumored this morning Lake Shore would
break par this p. n.y., and which no doubt
came from inside parties. II was said to-day
that Lake Shore would lease the Wabash sys-
TEN east Of the Mississippi river The price de-
clined to 99g, and the remainder of the list
sympathised. At 2;l5 stocks were weak at
about the lowest frgures. Just before closing
the market hardened, and a general advance
ensued from shorts covering. Stocks at the
close were active and strong.
LONDON, 1890, Aug. 2s.-United States
bonds As unchanged; New York Central
lower; Illinois Central lower; Reading 4
lower Ontario and Western higher; st.
Paul 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: