National Republican., 1883-01-20
THE MARKETS.
The Bears Make Raid and Induce Some
Realizing,
But tho Bulls are sdlI Confident that
Better Times are Coming.
BUSINESS TO-DAY IN WALL STREET.
g,nfr{ol DisDotcb

BUSINESS TO-DAY IN WALL STREET.
Special Dispatch.
NEW YORK, Jan. 19.-At the opening stocks
were steady and there was brisk buying.
Canada Southern led the racket.
Denver and Rio Grande was the next prom
inently strong and active feature.
Michigan Central touched par, Texas Pacific
rose !, and Northern Pacific touched 51f.
About noon the bears made scoop" by
breaking Lake Shore down to 112l, and tenn
porarily damaging the market, and a large
share of the gain was lost. The bears claimed
they had evidence that leading bulls were se-
cretly marketing stock, and the London mar
ket was free seller &C.; but in the afternoon,
on the second call, most of the active stocks
hardened and Denver further rose to sol and
Lake Shore rallied about per cent. Illinois
Central opened ut 1i3l and rose to 14i8. Union
Pacific rallied but slightly, and it is reported
that Gould sold largely oft
Northwestern common was rather weak.
The Gould Southwesterns were strong and
fairly sustained.
Money was plenty at to 4. Government
bonds were quiet and strong.
Sterling exchange was steady and firm.
Early in the last hour the general list was
dull and quiet.
Lackawanna was much ovcrsold, and the
stock was slow delivery, lending as low as 2.
The weakness of Illinois Central this morn
ing was due to foreign selling. The Hollanders
are large holders of Illinois Central, and they
had reasons to expect largo scrip dividend,
and tho small increase of 4 per cent
was disappointm ent to them, hence the
orders to sell. Conservative traders in
our market viewed the increase of semi
annual dividend from 81 to far more favor
ably, as they know that there is no flash in
the pan" about Illinois Central management.
This road is one of the few in this country
that is owned by its stockholders, the bonded
indebtedness being reduced to almost nothing.
The bonds of the Chicago, st. Louis, and Now
Orleans are guaranteed by the Illinois Cen
tral and have seventy years to run. They
are in every sense of the word "gilt-edge."
They pay per cent. interest, and the total
issue is only $1s,OO0,0O0, $5,0O0oOO
of which will soon be cancelled,
thus reducing the issue of these
bonds to $13OOO,O00. The Chicago, st. Louis
ing its fixed changes, but dividend on its
stock. Still back Of all this is the Illinois Cen
tral guarantee.
The market closed firm but dull, with a
gain for the day of from to per cent.
There is no doubt that the bull leaders took
advantage of the strength of the market yes
terday and day before, and marketed some of
their holdings; but the support of the mar
ket to-day shows an unchanged front, and
higher prices will be seen before long.
: A Chicago special dispatch says the infer
ence drawn from an interview with Potter of
the Chicago, Burlington and Quincy, at
Omaha yesterday, was that that road may
buy up the Denver railway and extend it to
the Pacific coast connecting temporarily
with the Central Pacific at Ogden.
Brokers say that Mr.. Johns worked Lake
Shore down to 112l on 500 shares, but the
Vanderbilt brokers took it up to 113. All the
ch zap bears wanted to sell at 113.
Foreign houses report cables directing sell
ing of stocks. The room traders are mostly
operating for 2-point decline, and claim to
have evidence of inside selling this morning
The brokers are all bulls to-day.
Canada Southern is said to be good for 75
this month as a 6 per cent stock.
EARLY MORNING POINTERS.
Brokers report that Keene bought few
stocks yesterday. Keene again was said to
have been the main seller of Delaware and
Lackawanna and New Jersey Central, and it
was guessed that he had made one OF his usual
turns of about 2 per cent. on 1000 shares OF
Jersey. The leading bull operatives declared
they were not sellers, but, on the contrary,
some of them bought more.
Woerishofier, Cammack, Connor, Osborn,
and Smith all said last evening they were
eminently satisfied with the situation. Sage
said he was glad of the reaction, as too fast
speed was made in advance, and u set back
would do it good. The largest room traders
We're all "outp at the closing, and some said
they were short. The report is denied that
President Dillon had been selling big lots OF
Union Pacific.
Conservative traders think that stocks are
on short sales, and sharp upward turn will
follow to-day or tomorrow.
Sage sold six months spread yesterday on
telegraph for per cent. at h76 and 06. The
bankers report funds coming in from the in
terror for investment. 1t is reported that
leading bull operators in the market have
formed regular pool for sixty days, and the
combination embraces about eight of the
largest traders in the market, each Of whom
have signed an agreement.
Ex-President Porter, of tho Omaha, ar
rived last evening and says everything looks
wellin the west.
Vanderbilt, in an interview with reporter
last evening, said there had been no disa'
greement in the Lake Shore board to account
for the resignation of Payne and Stone, OF
Cleveland, and he didn't know positively
that they had resigned. He did not know
whether tho Nickel Plate had asked for any
part Of the trunk line pool traffic, but one OF
his sons was president of the road, and hC
supposed it could be operated in harmony
with the Lake Shore and New Jersey Central
He was going to California or somewhere
soon for rest and to get away from the tele
graph and rest.
!; st. Paul, /, and Erie ; Illinois Central
declined, 4, and Ontario and Western, l..
STOCKS.
Tho following are the opening, highest
lowest, and closing prices of the principal
stocks for the day, rs corrected by special wire
reports received by Bateman & Co., bankers
No. Corcoran building: