National Republican., 1883-04-04
THE MARKETS.
The Traders in Wall Street Patiently Waiting
for the Spring Lambs.
A Slight Advance, Led by Northwest
Little Hope of Better Things.
GOSSIP OF THE STREET.
Special DisDdtch.

eral expectation last night of decline this
morning, and if it came it was believed the
market would be purchase again. The sud-
den twist in money to 90 per cent. yesterday
evening was not very surprising to the bulls,
who say they expect the manipulation of
funds to continue until next week, when the
supply will beplentiful. Russell Sage says he
believes the market will be comparatively free
from money raids in a few days. Meanwhile
the market will be purchase on every reac-
tion. The main selling of Oregon and Trans
continental yesterday through a prominent
Broad street house aud S. V. White was be-
lieved in the board to have been for tho Viii
lard people, who were also selling by wire in
Boston.
The brokers say the short interest on tho
general list is increasing. Tho active room
traders are all short of the market The sell
ing of st. Paul yesterday through Flower &
Co. is said to have been for tho Woerishofier
party. The bears wero very numerous last
evening, and were arguing that the excessive
dullness was a strong indication that lower
prices were inevitable. A former partner of
Gould, who is now q bear and large trader,
believes the only way to bring in new busi-
ness is to make break of about 10 per cent.
in tho general list He thinks this can be
done without losing much stock, and the
marking down would coax outsiders to come
in.
Points arc freely circulated this morning
to buy Lake Eric and Western for 10 points
rise. Mitchell of st. Paul talks very bullish
on the st. Paul. He regards the common as
the cheapest stock in tho board. New towns
and immense business are springing up along
the road, and everything indicates an increase
in earnings this year.
Stocks are lending at 500. Central Pacific
is offered at 0. The trading is light and un-
important. Cranberry sold st. Paul and
Goodboy bought. Tho Yanderbilts arc quiet.
Sterling is unchanged. London cablegrams
say American stocks are very quiet, but prices
are above New York quotations.
Brokers report the market considerably
frmer under influence of the Northwest. 1t
is reported that tho Vanderbilt people are
buying stock, which frightens the shorts. 1t
is believed that money will close easier. The
brokers say the advance in funding this
morning is purely fictitious. Nevertheless it
disturbed sterling, which was quoted at Ash
@4S3l.
II. N. Smith says ho believes money will
bo permanently easy within ten. days. and be-
yond tho power of the bears to continue the
stringency. As soon as this occurs the brok-
ers will encourage customers to buy stocks,
and he believes now is tho time to buy. He
thinks the public will soon enter the market,
and their buying will be irresistible. At
present this element is looking on, and the
bears are doing all in their power to discour-
age them.
Mr.. Connor says the public have a very good
opportunity for judging the natural strength
of the market. None of the bearish predc-
tions of failures among the banks or other in
sttutions have been verified, and the market
shows legitimate strength, and will probably
be allowed to go along quietly, gaining
strength and improving.
A st. Louis telegram says the Missouri
legislature has passed the bill forhidding rail-
ways to advance rates without twenty days
publication, the penalty being $500.
&Other st. Louis dispatches deny reports of
trouble in nthcsouthwestp pool, but it is said the
Wabash company has slight misunderstand
ing with the Alton Railway company in re-
gard to maintaining rates.
A London dispatch reports great speculative
activity in rice, with rise of 10 per cent.
this week.
The opening was dull and very quiet the
feeling being somewhat bearish, and the only
business was in the loan department, where
stocks were reneweda at to 9per cent. Money
loaned at to 0, but tho price above was be-
lieved to be fictitious.
and the Woerishotfer interests. Money lent
at early in the day, but the price was bid up
by the bears. On the second call stocks re-
acted fractionally all around and Northwest
preferred reacted l per cent The largest
buying of the Northwest stocks came from
Hallins and Keene's brokers, also from the
Woerishoher people, who were covering
shorts. Money was bid up to 10 per cent Just
after o'clock, and this tended to check trad
ing again.
Rufus Hatch writes from London that
European crops will be of poor qualities and
small this year, and he is a bull on everything
American, except iron. Stocks, became
stronger and higher after the second call, and
the market reached to the highest figures of
the day again, and Oregon Transcontinental
advanced to ST. The Northern Pacific stock
also stifiened, and Lackawanna rose l per
cent. from the opening figures. The market
was very much assisted by an announcement
from the Washington people that three out
of the five million of bonds to be redeemed
this week were received there to-day at 2:3O.
Money was quiet at to 8, and stocks were
stiff at about the highest range Of prices.
The market toward the close took another
upward turn, and sold near the best prices of
the day, The buying to-day by the Gould
and Vanderbilt interest would seem to indi-
cate higher market tomorrow for the
general list. Western Union was dull
and neglected. There is no Disgusting
the fact that this company now begins to look
upon the Postal Telegraph company as a
very dangerous competition, and they will
have to continue their "gobble" policy or
suffer by it, as the patents controlled by the
Postal Telegraph are such that they can do
business on paying basis for less than one
half the tariff rates now charged by the West
ern Union.
LONDON, April 3, 12:3O.-Bonds unchanged
Reading declined 5-16-; New York Central,
4; Erie !, and Ontario and Western !.
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 & Coz bankers,
NJ. l.