National Republican., 1883-04-03
THE MARKETS.
Trading Opened Dull and Prices Gradually Fell
From Saturdays Figures,
Very Little Trading and No Particular
Reason to Hope for Improvement.
GENERAL GOSSIP.
SnecJnt DigDdfch.

wanna also stated that Sam Sloans figures
TO directors of LacSawanna Friday last showed
the net earnings on the first quarter to be over
81, and a statement showing that the Buffalo
extension during the same time earned a littlo
over its fixed charges. Mr. Gould remarked
TO the writer that ho was not surprised
that the Binghampton and Buffalo had
paid expenses from the start, because
its coal business alone would do
this. Besides this the road penetrated
section whero there was % large gen Al
traffic already assured. Tho Lackawarna
proposed lease of the old Atlantic and Great
Western this week, but the Erie railway are
endeavoring TO renew their contract, and It is
uncertain which company will secure control
of the Atlantic and Great Western. The
question will be settled in London this week.
A majority of the traders in the general
market are looking for easier money and ac-
tive speculation this week. The bulls esti
mate the short interest to bo from half to
one million shares, and say that the only stock
which had weak look at the closing was
Oregon and Transcontinental, which was sold
by Work, Strong, Horton, and f. N. Law
renee. The buyers appeared to be either Keeno
or Mills brokers. WoershofIer covered
large line of shorts on Saturday. Prominent
brokers advise their customers that the bulls
are masters of the market, and if the leaders
would strike hands hey could run up prices
q dozen points inside of forty-eght hours, but
they lack confidence in each other. Geddes
resigned from the Denver, because of misrep-
resentations made to him by other directors
so as to induce him to enter the board.
The Denver people say that they now
stand upon their own legs, and that they OK
pect to build up new business enough to pay
dividends next year. Bears on Denver de-
clare that the company has lost its arrange
ment for interchange of business with Central
Pacific at Ogden, and that the road also has u
floating debt of half n million. The latter
story is denied by insiders, but IL is admitted
the company has some small indebtedness for
construction which can be paid Off in very
short time. DIR. Norvin Green tells friends
that he expects to see an advance in Western
Union this week. This is probably based
upon some expected legal decision. Gould's
friends say that he predicts that Wa
bash common will sell at par this year.
Mr.. Decker, of Decker, Howell & Co., says
that the recent large Northern Pacific land
sale to London and American company has
been practically accomplished, notwithstand-
ing the denials from Boston. Current report
here says that the Southern Pacific people
endeavored to pay for the recently purchased
railway and steamer property in Southern
Pacific railway bonds, but Morgan's estate
would take nothing but cash, and this caused
the Huntington people to sell a batch of Cen
trail Pacific stock, and occasioned the recent
decline.
Its now stated that the Morgan people have
granted an extension on the payment of the
contract. Chicago adVices this morning re-
port great want of warm rains in winter
wheat districts, and the general news from
these places continues unfavorable.
Stocks are lending at @ and 5, Michigan
Central is in demand at /. Mead and Johnes
sold Lackawanna. HotchlSin and Burnham
bought Lehigh Valley. Bell sold Union Pa
cifc, and Leavitt was the principal buyer.
The traders are working st. Paul. No orders
in it. Drummond & Kirkner offered ST. Paul
downin thousand share lots. Brown Bros adj
vanced sterling to 4.s2 and 800 this morning,
but the other drawers rates are not changed.
Denver earnings for the four weeks de-
creased $4,000, and for the month decreased
100000. 1t is stated that between So 100000
and $3,000,O00 Of called bonds will be pre-
sented by one or two New York banks for
payment Wednesday, and it is presumable
that greater portion, if not the whole of the
$5,OOOO00 will be presented $3,500,000 of
April interest yet to come will probably como
into the market this week.
REVIEW OF THE DAY.
Tho market opened quiet and firmer in
portion of the list, but subsequently declined
to D from Saturdays prices. There was
Nl.A,s 4 n
thing else, but at q slightly lower range.
Stocks lent at to 6. Money at " Gov
ernment bonds were dull and steady Ster-
ling was advanced by Brown Bros. per cent |
There is great deal of talk again Of n scrip
dividend at 10 per cent. in Lackawanna and
an increase of capital to thirty millions, but
the directors are very conservative on this |
suggestion. Central Pacific is dull and easier |
to-day. 1t is reported that HuntingtOn's |
Southern Pacific buyer of Morgan steamer
and Texas railway property has had an eX- !
tension of time to complete the payment. On
the second call trading was almost nil and
prices to point lower. r. p. Flower & Co. |
sold st. Paul largely, Henriques sold Lacka-
wanna George Dickinson hammered tho |
Vanderbilts and Kirkuer Business con-
tinued extremely dull in the afternoon |
Money at 2:30 loaned at to per cent The !
market closed dull and weak.
LONDON, 12:30.-United States extra fves |
higher; Erie rose 4 New York Central, ; |
Pennsylvania Central advanced other Amer
leans higher and firmer.
WHAT IT COSTS TO DE "LoNG"
NeD York sun.
A speculator short of stocks at the present
moment makes little money on the interest
account and runs the risk of loss only in case |
of an advance in prices But speculator ON |
the long side of the market stands to lose both |
on the interest account and on the huctua- |
tions, and runs the additional risk of awaken
ing some fine morning and finding that he |
cannot sell his goods at any. price. 1t takes, |
for instance $40 a month to carry 1000 |
shares of Michigan Central $40 to carry 1000 |
of Canada Southern, or SlS5 to carry 900 of |
Erie. This is with money at per cent. With |
money at IL the expenditure is double. Now,
what must bo tho dead monthly loss of |
spectators who have q load of fifty or hun
dred thousand shares? And there are great |
many of them.
The Vanderbilt family is supposed to have |
accumulated between 100000 and 100000 |
shares Jay Gould is rated at about the same
figures, but his stocks cost him little or moth
ing and then you cannot catch him accumu-
lating stocks at times and prices like the
present He prints his stock certificates to
sell, not to keep, III. ~ Smith was recently
reported to be groaning under a load Of 20O,-
900 shares, ID. o. Mills, c. j. Osborn and
three or four more men of that solid stamp
nrI.,