National Republican., 1883-03-15
THE MARKETS.
The High Bank Rato Makes Business Dull and
Heavy.
Bankers Demanding IL to 10 Per Cent
The stock Iistss
GOSSIP.
Specidl Dispatch.

clares that money will continue very stiff for
some time, and that consequently he is con-
servative on stocks. He sold some spreads ON
Western Union yesterday at e0-100,six months,
Ior $40 per hundred, and 80 day spread
on Union Pacific at 9l-116 for $50.
Keene is very boarish on the general mar
ket. Brokers report that the big demand for
money has checked an advance in prices.
Many look for further decline, but the pre-
ponderance of feeling is that the market is
purchase on every sharp reaction.
The uptown bears worked hard last night
to throw cold water on any further advance,
charging that the bull cliqucs have worked
of great many long stocks through outside
brokers this week., Brokers say that the main
feature of yesterdays trading was the selling
of st. Paul common by Osborn & Co., and the
weakness of the Vanderbilts when the rest of
the stocks were strong. The Vanderbilt
brokers talk bearish on Western Union.
There is said to be good buying of Central
Pacific and Rock Island.
Solon Humphrey telegraphs from the west
that the Iron Mountain property looks excel
lent and that the road has more business of
fering than it can move.
number of bankers and merchants for
warded personal letters last night to Presi-
dent Arthur and Secretary Folger strongly
urging the immediate anticipation of the
fifteen million May bond call for the relief Of
the money stringency. They hope for favor
able action this week.
1t was reported last night that Vanderbilt
had positively purchased controlling inter
est in the West Shore road, and it is expected
4 II IN L.. 4 "A
this week.
Sterling is weak at 4s3 to4s3i. decline ow-
ing to light money. Scranton & Willard sold st.
Paul heavily. Henriquos bought stock every
eighth down. The report is unfounded that
Henry N. Smith is largely interested in u al
legged London bull pool. Private London ca
bles this afternoon report the American market
buoyant. ST. Paul is selling there equal to
102 57-100; Denver, 46 56-100 New York
Central, 1913 64-100; Lake Shore, Ill 32-1O0,
and Erie, 81 75-1O0
The English market, owing to easy money,
rules higher than the New York.
Government bonds are strong for long
issues and short issues are pressing for sale.
The Western Union revenue for this quar-
ter is $1,75O00O.
ports that tho March earnings of this road
show an increase over the previous year, but
the gain is small. Tho trouble is there is no
coin, still the company will add about amillion
dollars over everything to tho sinking fund
in 1883.
A Washington telegram says flood of APP
plications is pouring in from the north for
monetary relief, but Secretary Folger is too
i'll to consider business.
The Western Union directors have de-
clared the II per cent. dividend on removal
of the injunction. .,r- .,o5 s,A.,.,o,
Government bonds, old, active partly on
New England purchases. Sales, S1,000000, at
100 for As and 1871 for 4ls. Sterling nominal.
A st. Louis press dispatch says that the
Wabash Pacific railway has Just been leased
to to the Iron Mountain railway, but without
guarantee.
The Wabash propertyi is said to be in no way
benefited by this arrangement but the Wabash
floating debt, which is indorsed by Gould,
Dillon, Sage, and others, will be taken care
of by the Missouri Pacific, and these in
dividuals will be about the only ones bene-
fted thereby.
Money is at IL to 15 lending at both rates.
Scranton and Willard are large buyers of
Wabash preferred.
Sterling exchange is dull and fat. Brown
Bros. reduced to s1i to 81 less commission.
Small sales at sOi, 81, and s14 to s1l.
REVIEW OF THE DAY.
The opening was heavy mainly under a
stringency of money, which was Is bid di-
rectly from the beginning of business, with
stocks loaning at about 10 per cent.
Scranton and Willard sold 5000 shares of
Delaware and Lackawanna, and largely of
st. Paul. They also sold Union Pacific, but
bought Wabash preferred, which latter was
exceptionally strong on the lease of the
Wabash Pacific road to the Iron Mountain
railway. This was the only way an amalga-
nation could be legally effected and the lines
Joined to the Northern Pacific railway.
George Cecil sold heavily of Union Pacific,
vii liam Bird sold Union Pacific, and Ver-
milye & Co. sold Lake Shore
Denver was active and firm till noon, but on
the second call fell of ] point with the gen.
eral market, which was weak and heavy.
Osborn & Co. bought st. Paul common ex-
tensively on every down. r.a
Union Pacific declined point on the Sec
ond CALL as also did Northern Pacific, Wabash
preferred and Texas. .-,l.-r
There was rise of point to-day in Ontario
and Western on q rumor that Vanderbilt had
bought the West Shore road.
Lackawanna and the Vanderbilt stocks were
dull but firm, to-day.
Sterling exchange was weaker to-day and
reduced !.
Government bonds strong for long issues,
but weak for shorts.
At 2:30 the market was a shade improved
and rather firm. Money dropped on cali to 12
London, 12:30.-United States bonds un-
changed New York Central declined J :;
Reading, 4 Eric, I Pennsylvania Central,
/, and Illinois advanced !.
STOCKS.
The following are the opening, highest,
lowest, ana closing prices of the principal
stocks for the day, as corrected by special wire
reports received by Bateman & Co., bankers,
No. 1411 i street northwest: