National Republican., 1883-07-06
THE MARKETS.
Tho Stock Brokers Active and Confident in
Spite Of the Heat
Favorable Reports From the west-Thc
Union Pacific Wins n Gaze.
GENERAL GOSSIP,
SDec,di Dispatch.


New York, July 5.--The little there was
said about The market at the different resorts
yesterday was of decidedly bullish tenor,
and most of the large operators, excepting
Woerishoetier, anticipated substantial
movement soon. But conservative bull OPP
orators say they don't expect very substan-
tial rise until about August.
The market will wait until the fate of the
wheat crop in the west and northwest is de.
cided. This is expected by the last week in
July. They further say they are inclined to
buy moderately now, but there is positively
nothing in the financial or agricultural out
look to justify extensive trading at present.
Osborn's western dispatches yesterday re-
ported fine weather in the west and north
west, and the thermometer rose to LOG in
Minnesota.
Connor tells his friends he believes in
higher quotations, and the very fact that the
public is not in the market is str ong bull
point, because when they come in it is proof
that the natural conditions favor bull cam
paign.
George Eclsert and tho Fields party be-
lieve that the court of appeals in the Western
Union decision will surely affirm the validity
of the $l5,O00,000 stock transaction
L
Brokers identified with the bull operators
report that Tuesdays tirmness was due to
covering by the small bears, and they say the
large shorts have not begun TO cover, so that
the market is likely to sec sharp rise by
Saturdays closing. Ii is expected the coalers
will lead the advance. The largest room
traders were bulls at Tuesdays closing.
London cables yesterday and to-day report
American bonds stronger and higher, with
money drug on the market.
Judge Hutchings is bearing Erie on the
new issue of bonds.
The Times st. Paul specials this morning
report crops more promising in the Red River
valley and Dakota.
Brokers say that few long stocks arc offer-
ing, and marked increase is shown in small
orders to buy interest paying securities. Van
Emburgh and Atterbury bought most of Jer-
sey and Lake Shore. Bissel bought st.
Paul, and is still bidding
Judge Wheeler has decided in favor of the
Union Pacific railway in the Arnold Leo case.
Union Pacific has been very strong and adj
vanced from 93S to 95b. Lackawanna sold ut
29t. Extra dividend stocks are strong and
advancing. Reports from tho west are of
very encouraging character.
REVIEW.
The market opened quiet and firm. Tho
railway earnings generally showed large
June increase and crop advices were favorable.
Tho attendance in tho board was very
small, and the excessive heat limited the de-
sire to trade. The coal stocks were the firm
est on the list. Jersey Central lent fiat New
York Central fiat; others at 2 money of
fered at y sterling quiet and unchanged
On the second call the best prices of the
day were made. Union Pacific rose on the
decision in favor of the company of the Ar
nold-Leo case which was announced as ia
vorable. The further favorable reports of
large increase in Gould stocks earnings stiff
ened the market, and early in the last hour
sharp advance was established of to / per
cent Lackawanna led the market Union
Pacific rose1i Northwest !, st. Paul (, West
ern Union !, Jersey l, Reading 1, and Louis
vile and Nashville l. G1FE
Scranton & Willard bought $500 shares of
st. Paul. and Harry I.eavitt sold 1000. Law
son & Douglass were buyers of st. Paul. Nor
gan g. Smiths brokers bought the general
market this afternoon, including Erie, Union
Pacific, and Western Union. Northwest was
bought heavily by Grovestein, Pell, Earl &
Dayton, Elliott, J. F. Meade s. Co., Van EN-
burgh and Atterbury. Van Emburgh ana
Clews also bought Reading. Brandon bought
q lot of Union Pacific.
Stocks at the close were firm and active,
with prospects of an active higher market
tomorrow.
LONDON, July 5, 12:30.-United States
bonds unchanged. American securities firm
but dull in absence of New York quotations
owing to holiday.
STOCKS.
The following are the opening, highest
lowest, and closing prices Of the principal
stocks for the day, as corrected by special wire
reports received by Bateman & Co., bankers,
NO. l111 Il street northwest: