National Republican., 1883-06-07
THE MARKETS.
Glowing Crop and Weather Reports From tho
West Give Stocks Boom.
A Very Active Trndlng and n General ADJ
vance I'm Spite OF the Bcorss
GOSSIP OF A HOT DAY.
gnfciat DfsDaich.

large buyers of tho market yesterday after
noon, and the street believes in higher prices
to-day. Several large traders who have been
old bears have turned bulls this week, and
tell their friends to look for moderate ad-
vances Immediately and big eventual ad-
vance. Mr.. Morgan says the whole market
wants to 20 up, and will So up if the bears
will only let it.
q. j. Osborn is very bullish on ST. Paul.
and he believes Oregon Transcontinental is
going away up by and by, but he has no per-
sonal interest in It. Private Milwau-
kee kilograms say the new 81.
Paul stock has all boon placed,
although il has not yet been issued, according
to the stock exchange rules. Osborn thinks
st. Paul will go up 10 per cent. sure this year,
and IL Is understood ho bought recently for
the Standard oil people. Tho brokers iden-
titled with the bull party say they have been
getting more outside orders to buy on reac-
tions than before, and they advise their GUS
toners to hold for higher market further
on. Sam Sloan, of tho Lackawanna, denies
the reports of trouble with tho trunk lines
or that tho Lackawanna has taken freight
below their tariff, but there is authority
for the statement that the trunk
lines have made complaints against the
Grand Trunk for 30 operating with the Della
ware and Lackawanna, which Is accused of
cutting rates. 1t is also stated the Pennsyl-
vania Central has threatened TO reduce rates
for coal unless the Delaware and Lackawanna
restores rates from the mines. IL is beloved
Commissioner Fink will harmonize and adjust
the differences this week. The Chicago
special to the Tribune reports q sensation in
railway circles over the new policy Of the
Vanderbilt boys in reducing the running time
over the Michigan Central railway to New
York and severing all arrangements with the
Grand Trunk. Fast trains and dining room
trains without change go on Sunday next. This
will affect the Pennsylvania Central, Balti-
more and Ohio and other lines considerably
and will make violent competition, If not rate
cutting, report Is current this morning of
u pool in Rock Island, and an advance is
promised this week on some new favorable
reports of that property. Deliveries of Union
Pacific and Jersey stock are very irregular,
and what several concerns failed to deliver ON
contract yesterday.
Pittsburg dispatches say there has been no
failures in oil, and the bull syndicate are buy
ing and predict an advance to 1.5O. Tho
standard Oil company is not interfering with
the sydicato.
1t is very hot after q scorching night.
Everybody is complaining of the heat.
Stocks are strong throughout the list
Jersey Central Is lending at to 81 Reading
and Lackawanna l to 2; others 2 81;
Money at 81 to 8; sterling unchanged. Os-
DOrn people arc DuylnB Sl. Iuul,
The largest buyers of Reading arc L.. L.
White, Boody, Mcclellan, Coombs, Wales
and Chapman.
In Lake Shore Bird and Marx bought. In
Lackawanna the largest buyer is John Wal
lace. In Union Pacific the largest buyers
are Robbins, Robinson and Van Emburgh.
Philadelphia advices represent that most
of the Jersey stock sold there is " locked up in
camphor." The loaning rate is to 3. Mr..
Willard says he expects the Northern Pacific
will have more freight than 1t can haul dur
ing the next crop movement The Canadian
Pacific freight and passenger earnings are
constantly increasing Governments are
steady at the advance. Money is very plenti-
full at "a to 3. Sterling is steady and firm.
Cotton is dull, with tendency downward ;
too much of 1t offering.
Tho Union Pacific earnings (connected) for
April show gain of $4,000, instead of loss,
as heretofore reported. Il. Sweet bought $500
shares of Union Pacific this morning, Tru-
man 1900, and Peters & Pell 800 of the same.
Peters & Pell are buying the whole market,
Supposed TO be covering for Keene.
New York Central lends fiat and Jersey
Central is very scarce. Philadelphia is buy
ing Reading with scant offerings Tyson
bought the most Texas Pacific.
Chicago advices say that grain is very weak.
Wheat is down cents and corn I. Sterling
very quiet.
Insiders are quietly buying telegraph to-
day and it is strongly intimated by parties
well informed, that tho Williams decision
will be soon rendered and in favor Of the
company. 1t is also stated that Western
Union will soon after be listed in London.
The Missouri Pacific to-day declared II per
cent. dividend payable Juty 2.
LONDON, 12:30.-United States 4ps higher
Erie, higher; New York Central, higher;
Wabash preferred, higher; Reading,
higher; Lake Shore, higher; st. Paul, I
fVhn n pt.iuxr la and ahN t0ha
Illinois, higher.
REVIEW.
NEW YORK, June 6.-StocSs opened to
dearer, Jersey leading. The short interest
was reported as considerable and Union Pa
ciic, jersey Central, Now York Central lent
ut premium, 1-6i to 1-32 interest. Reading
and Delaware and Lackawanna lent at to 2
and others to 3. Sterling opened unchanged
but was afterward advanced by all drawers
but Brown Bros.
1t is reported that Woerishoeffer and other
bears on stocks put up sterling rates to affect
stocks, but the object was not successful, Il.
by o'clock the general list was very active
and strong, the general advance being to 2
tho latter in Rock Island. The trading il
New York Central was unimportant; Benja
min sold 1000 shares, and Bissel bought
The market was greatly assisted to-day by
better outlook for the coal trade and magnifi
cent crop reports from the west, with droI
. of 2 cents in wheat and on corn in Chicago
Leading bankers say that while nomna
rates for sterling are at the shipping point II
specie, they don't think any gold OF amoun
will be shipped. Selgman q Co. say Londor
parties bought largely in this market o
stocks to-day. Governments are strong.
Just after p. m. tho market became dull
and prices reacted fractionally, but late
later there was another slight gain which
carried prices up to nearly the best figures o
the day. At 2:45 the market continued stronl
and active, the advance being maintained /,
the close. The market closed strong, with thu
strongest undertone since new years. There
is still n very large short interest To-mor
row will probably tell whether to-day's mar
kot is the result of twisting the stocks, o.
whether it is legitimate rise, caused b!
glowing crop reports from the west
CHICAGO, June 6.-'rhe TribunGs crop re
ports are very encouraging from wheat in tn
northwest, and there is gratifying news from
Iowa and Nebraska This mornings dis
patchs from st. Louis report fine whether TO
corn, aud tho general reports arc very en-
couraging from general crops. The Mime
apolis millers report tho wheat region aroun,
there shows very marked Improvement A
present the growing crop in Minnesota
Dakota, northern Iowa, and northern
Nebraska is fairly jumping out of tn
prospects predict that continuanc
Of the present favorable conditions will yielC
sixty to sixty-ive millions of bushels instead
of ffty-eighth millions, estimated last week
The weather is warm thermometer, 7S.