National Republican., 1883-07-11
THE MARKETS.
The Bears and Room Traders Put Prices Down
to Low Figures Yesterday.
A Failing or In Earnings Their Princi-
pal Argument--ThC Chicago Market.
A DAYS GOSSIP.
Eneclni Dlsnnlch.

days trading. Conservative traders thought
that the same class of traders selling were liza
BILE to be the largest buyers on the encourage
ing news. 1t is said to have been the inten-
tion of the dealers TO have closed the market
very stiff, but the street got twisted over the
news from Chicago, and n fresh batch of
stocks unexpectedly were thrown on tho
market which nobody cared to absorb. The
weakness in Chicago grain was really due to
later and highly favorable crop reports from
the northwest There was no embarrassment
in financial circles, rs reported, nor any
truth in yellow fever reports. Some brokers
said Wo rishooflcr, Osborn " Co., and the
combination of big room traders were the
principal smashers, and the room people ham
mered everything. Osborn's party sold heav-
lily of St. Paul aud Denver. Woerishoefter
sold New York Central, Lake Shore, and
Erie.
Keene also sold some stocks and said he was
not bear, but firmly believed in further
great liquidation and that lower prices were
inevitable.
VIM L. Scott returned homo last week, and
it is understood he sold all stocks yesterday
Sage returns from Saratoga to-day.
President Clark of tho Lackawanna Coal
and Iron company and Of the Thomas Iron
company, reports the present business and
condition of the iron trade vastly improved.
The opening was fractonally higher, bnt
Bell & Kirkner, with the othor room trnders,
kicked the market around and offered Lake
Shore st. Paul, and Union Pacific. Lock-
wood & Peters sold st. Paul and Johnes and
Brayton & Ives bought. Bird bought Union
Pacific, Sternberger bought New York Central
for London, and other buyers were Diclsin-
son, Tileston, and Thomas Roed. Van En-
burgh g. Atterbury bought Lake Shore. Bell
sold the same
Not much Lake Shore was Offering. Jersey
Central stock lent for 1-16 now, 3-64 bid
New York Central lends fiat; money at %;
sterling unchanged.
In Chicago the weather is cloudy; ther-
mometer "a.
United States bonds were strong but dull,
waiting to hear from an expected govern
ment call. Brokers report some borrowing
demand for New York Central stock. Kuhn,
Loeb q Co. have been large buyers of New
York Central, Nat. Hunting sold heavily;
Flower & Co. and Leonard each sold 1000 of
Jersey. Willard bought 1000 Jersey Central,
seller 30, within per cent. of cash price.
Bell is hammering the market. Sterling is
dull and unchanged.
Woerishociler and l.. Calm sold Western
Union, Slayback sold Louisville and Nash
vile largely this morning. Kirkner sold
1000 shares St. Paul, and Davis Johnson
bought; S. V. White also sold st. Paul.
The Central Pacific, June earnings, decreased
$4,000.
Rumors of financial embarrassment in
Chicago are freely circulated by the bears,
who in combination with the room traders,
are hammering the market. Private dis
patches from prominent parties there (Lind-
blohm Il co., deny that there is any truth
in these reports.
REVIEW.
Stocks opened higher under an improved
demand for New York Central and Lake
Shore, but the hoist only lasted half an hour,
Npha tha lad Inv rIr
Bell, raided the general list and kicked it
about the room. There was some good buy
ing of New York Centaal for European ac-
count, and the most stock was bought by the
German houses. In Lake Shore not much
stock was offered. Van Emburgh & Atte-
bury and Tileston were buying. Bell sold
little. Telegraph was dull, and Prince &
Whitley sold few shares. The market gen.
orally appeared to be raided in the interests
of the shorts. There was some new borrow
ing interest to-day for New York Central.
The stock lent fiat. Jersey Central lent to
lilo for the use Sterling was dull and un-
exchangeable. Government bonds strong
and inactive, awaiting the government call.
Chicago newS shows n further decline in
grain and provisions. The Chicago Tribune
reports that the indications point toward the
biggest wheat harvest ever known in Dakota
On the second call the market was fraction
ally below the opening, but the trading was
light and mostly by room traders. Woers-
hoeifer and l.. Calm knocked Telegraph to
624, Slayback sold Louisville and Nashville |
and Hirkner sold st. Paul freely. Lake Shore |
was bought this afternoon by Van Einburgh, |
Kirkner, and Bird, but without rallying the |
price.
At half past l the general list weakened,
the graingers led by Northwestern being es-
pecially weak an bad crop advices, and the |
bears danced again ON the general list. North |
west was sold down by Johnes to 13O, but Ia
ter rallied to S1.3l. New York Central sold |
lower than before and touched $l.17t, Jersey |
Central, S69, and Lackawanna went TO $1.264 |
at 2;l5. Tho general tendency continued |
downward but at 2:30 the whole list stihened |
and the room traders seemed to be tired
stocks ut the close were decidedly weak, with |
downward tendency. One cause of the |
weakness was the heavy decrease in the earn |
ings Of the Pacific reads. A rally on the |
shorts would be in order tomorrow should |
the market open lower
LONDON, July l1--12:30 p. NJ United |
States bonds unchanged; Erie Re lower; New
York Central l-lGc lower Illinois &c lower;
Reading 4c lower; Ontario 4c lower; st.
Paul 4c higher
Special Dispatch.
CHICAGO, ILL, July 10.-Wheat opened
weak and unsettled. IL declined &C. from
yesterdays close, holders being induced to
realize by the heavy decline in provisions,
fair crop reports, and fine harvest weather.
The decline caused free buying from the
shorts who had large profits in deals, and
wero disposed to cover, aud the bulls took
few lots TO strengthen the market. A reac-
tion took place, and prices closed to lc.
higher than yesterday. Stocks, 5005, 600
bushels same time last year, 10,3G0,0O0 bush
els; July, 80; August, 1905; September 1921.
Corn was unsettled. 1t opened
weak and declined one cent. The demand to
cover shorts advanced prices p to n c., clos
ing II to 1t c. higher than yesterday. July,
50i; August, 5li; September, 81! Stocks, q
2l20OO, against l,0il,00O last year. Inspec-
tion, 440 cars; PIG contract. Oats closed firm.
stocks $4,000. July, 30; August, 20s; Sep
tember, 2ss. Pork was paniclly aud irregu-
lar. 1t declined 45 cents from yesterdays
close. When lots on which margins were ex-
hausted were cleared out, it rallied 30 cents and
again Weakened and under strong selling
pressure, closed 22l TO 671 cents lower than
yesterday, July Is. 80; August 10, 90. Lard
was less affected, prices closing ~ to cents
lower than yesterday, July s. ga August
s, ia September 8. So Short ribs 20 cents
lower. July z. l24 ; August Z. III September
Z. IA. Hogs were weak and 80 cents lower.
receipts, $1,000 Cattle dull, weak, aud lower.
shipping steers 400 10 500; receipts 1850; fer
two days, $4,000 head. Tho quality is extra
for the season.
GRAIN AND PROVISIONS.
Following nre opeulus, highest, lowest and clos
ing prices ON Chicago board of trade, corrected
by special wire reports ~ Cooke * Co., brokers'