National Republican., 1883-09-21
THE MARKETS.
Brokers Discussing the Break in the Willard
Stocks.
Stocks Opening Foverish and Excited, but
Better Feeling Mt the Close,
GOSSIP.
Special Dispatch.


New YoRK, Sept. 20.-Thcre was n largo
gathering of brokers at tho Windsor last
night mainly discussing tho break in tho vii
lard stocks and their probable course. No
stock was offered at the hotel, but it was re-
ported that Northern Pacific preferred aud
Oregon Transcontinental were offered in Wall
street per cent. below closing Some of the
brokers thought If this was true then tho
turning point had come, following procc-
dents because both those stocks had been
furiously oversold, and the lowest figures had
been forced by the execution of stop orders
ID. o. Mills said that those who had held
the Willard stocks were not frightened
by false rumors of would-be losers. Cammack
was known to have been free seller of stocks
yesterday, and his intimate friends say he ad-
mits selling tho balance of his long Denver
on Monday, and that he lost $4,000 on the
Denver. The room traders, excepting Kirk
ner and Slaybacls, were long Of stocks yester-
day afternoon. The Mills people admit their
surprise at the turn tho market has taken,
and say but for raids upon Northern Pacific
everything had been ripe for an ad-
vance. Morgan had no interest in tho
Willard, having sold out when ten
points higher. Mr.. Kennedy would
buy the Wizards this morning if they were
much depressed. A very important sale of
Texas and New Mexico grazing lands to an
English company, of about 100000 acres
was concluded here yesterday subject to in
spection. The purchasers started for Texas
last night. These are not railway lands, and
were sold at q little over 81 per acre. II. o.
Armour telegraphs from Chicago: Frost has
done much moro damage to corn than sup
posed, and the full effect won't be appreciated
until next spring"
New York weather clear and pleasant
WALL STREET.
The main dealings on the opening were in
Willard stocks in which there was largo
crowd. The Northern Pacifcs were sold by
Cohn q Co., Scranton & Willard. The
buyers were Hilyer Decker & Howell, and
Drake Bros. Lake Shore sold by Hudson &
Campbell, and Howard; Lapsley bought In
Reading, Bird bought. Lackawanna, New
comb Il Ives were buying, and Harmed sold.
Walsh sold Eric and Lansburgh bought.
Loaning rates for stocks unchanged. Money
easy at 2. Sterling unchanged.
Hodges sold largely of Northern Pacific pre-
ferred on the opening, and Stevens also sold.
Buyers in the last hour were Bell, Wetmore
& Rathurn and II. /. Nichols. st. Paul was
bought by Herrick, Worden, and Henry
Brothers. Ellis sold. Sterling steady, but
quiet Government bonds strong and active,
except the 3's, which sold down to q. The
Philadelphia Record this morning says: an
this city nearly all the short sales of the Viii
lard stocks were yesterday covered when the
market fell so rapidly Mt 2:30 p. M, the same
parties going very long at the decline, but
selling out again afterward. There are ru-
mors of free sales of spouted stocks and loans
being met"
Chicago kilograms say the weather is un-
settled and rainy almost throughout, with
colder wave reported coming from the north
west
The annual meeting of the Northern Pa
Cific directors is hainp hold All thn nrnenut
officers will probably bc reelected. Presi-
dent Willard is not in New York. and the
meeting does not attract any attention.
telegram announces that President Cable
of the Rock Island, will arrive with other
officials of that road in few days. That the
usual dividend of II per cent will be declared
early next week, and that the traffic of the
road, both through and local, is immense.
judge Noah Davis granted stay of pro-
ceedings in the sale of the securities of the
Denver and New Orleans road, which was to
have taken place ut noon yesterday.
A. f. Bateman, of Washington, who re-
Gently purchased Mr.. Henry Walters seat in
the stock exchange, was to-day, after the
usual two weeks probation, unanimously
elected by the governing board member of
the stock exchange.
Ii. Clews & Co.'s dispatch says it is raining
generally, and the signal service predicts
colder weather tonight and Friday with
frost. In the Northern Pacific transactions
this morning Charles Head 81 Co. bought
5000 shares from Sternberger and Fuld, $5O,-
600 bid for seats in stock board. As to the
Northern Pacific railway report says the
bonds authorized under reorganization are
insufficient to complete and equip the road.
To avoid the embarrassment Of large floating
liabilities arrangements have been made with
Oregon Transcontnental, under which the
latter makes the necessary advance, and ac-
cepts such negotiable security as this company
is able to give terms aud form to be decided
hereafter. The board confidently expects to
pay regular dividend on the preferred stock
soon.
The downward movement in Union Pacific
was started by Charles Keep, who offered
stock down, and the room trading, including
Bell. Kirkner, Johnes, Dickinson, and Hen
derson followed as sellers. Joe Stevens sold
IL lot of Western Union. In Northern Pacific
stocks this afternoon tho sellers were Nicho-
las H. Calm & Co., and Ed Schmit, Herts, and
Decker; also Howell & Co. bought.
The drive at Union Pacific and North Pa
cifc this afternoon appears to have been
purely speculative, and the statement that
the Canadian banks were large lenders on the
stocks is denied.
REVIEW
Stocks opened very feverish and excited,
but outside of the Villards prices were fairly
sustained, especially Lackawanna, Union Pa
cific, and Louisville. But the Northern Pa
Citic and Oregon Transcontincntal fluctuated
wildly. The bears in Oregon Transcontnen-
tai have covered extensively, but talk as
bitterly as ever against these properties es-
pccially the Germans. The net result of the
torenoon's business was advances of II in
Northern Pacific preferred, ! in Oregon
Transcontinental, and n decline of in Union
Pacific and Northwestern, in Canada Pa.
ciiic rs compared with the closing Wednesday.
There was II rally of in Northern Pacific
preferred about II o'clock, but the advance
was lost soon after, and on the second call
the weakness was general, but most marked
in Union Pacific, aside from the Yillards,
which dropped p per cont. to 0ss, and / per
cent in Louisville TO 80 under fierce and
united hammering by tho big room dealers
led by w. Keep. Toward tho closing the
market rallied and tho Wizards went up to
near best prices Of the day, Oregon Trans
continental reaching 6li, Northern Pacific
Ssh, and Lake Shore under active trading, Al.
Bullion in bank of England increased last
week 10000 sterling. There was better
feeling at the close and stock were steady at
the advance.
LONDON, 123O.-St. Paul, lower; Denver
lower Erie, lower; Reading, lower New
York Central, II lower; Lake Shore, l5-1C
lower; Central Pacific, lower.
LONDON, 1:30-St. Paul further declined 4
Central declined ll-l6; Central Pacific ad-
vanced ZIG.
COTTON MARKET.