National Republican., 1883-08-18
THE MARKETS.
A General Feeling Of Confidence that the Late
Furry is All Over.
Prices Generally Advancing, with Pros
poets Of Active Trading.
Special Dispatch.

Sloan, and Humphreys on the business out
look, and they all agree that the recent furry
has not affected business outside Of the stock
market, and IL has been purely the result of
over speculation. The most conservative and
largest bankers and brokers declare belief
that confidence Is certainly growing; that
prices are surely hardening, and the fact that
no more embarrassments yesterday caused
much reinsurance in stock circles last even
ing. Mr.. Connor thought no further impor-
tant liquidation was near, and the cliqued
stocks, with ono small exception, had been
largely redistributed. Mr.. II. N. Smith is
still strong advocate for an advance,
and thinks the late decline in the
Western markets would ultimately be
good stocks. Woorishoeffer declared he was
not doing much at present. but 1t is known
he induced Charley Delmonico to throw over
batch of Oregon Transcontinental which the
latter had bought for n turn
The Gould paper say Gould was promi-
nent buyer of Western Union yesterday, and
not a seller as reported, and the street and
room traders bought later in the day. Guess.
ing that the report circulated in the board
that new stock was on the street in Goulds
name was repeated and distributed for the
porpose of making lower prices to scoop upon.
The bears stated that eN-Gov. MOrgans es-
tate was selling out Western Union, and
Gould had refused to buy the stock. IL is
likewise reported that Sage had outstanding
puts on 100000 shares as low as 20 running
until Jan. l. 1t was subsequently learned
that all the new stock afloat was 5000 shares
in the name of Montgomery, of tho Mer-
camille trust, who sold the stock upon the
market for an individual who bought at auc-
tion last week.
Bissel was an enormous seller of Western
Union all day, and he called up 10 per cent.
in the trust on n number of buyers. The
buying of New York Central, just before the
close, was mainly by Robinson, Heckscher,
Pearl & Co.. Hollins y Co., and was thought
to have been mainly for covering shorts.
President Willard, of Northern Pacific,
says that the dividend question may be
acted upon at the next months meeting. 1t
is said that the management was dissuaded
from making dividend, as it may be con-
strued as an effort to bull the stock.
The operators admit the end of the strike,
but are reluctant to return to work. Gen
Eckert says the strike is over, and the whole
thing is an affair of the past. The company
took on twelve men this morning. 1t is said
that Mackey's new postal line will give en-
ployment to 100 of the strikers. Inc strike
Is over at Baltimore.
In New York Central Seymour, Hunt " Co.
were the most prominent buyers supposed to
be covering for Keenc) Prentiss bought and
Minton & Thayer sold In st. Paul Beck
man & Cox bought In Union Pacific Dick
inson sold and S. V. White bought In Erie
the order broker says the feature has been
the selling by sellers who appear to be holders
of the stock for insiders in the management.
l.. d. Alexander is u constant seller of
Western Union and M. Hamilton is also sell
ing. Tho market is generally strong. New
York Central, bid; Jersey, 1-32 for the use.
Money at 3 tod.
The Denver directors are in session for the
election of president. Scott says the po-
sition has been offered to nobody. The Chi
U-,b, thA hory from
Minnesota and Dakota is very favorable.
The dispatches from Michigan, Illinois, Iowa,
and other states are in the main favorable.
Wormser & Co. report London an active
buyer here to-day. Toward the close in
London all American securities were stiff ;
government bonds strong, for all kinds ;
sterling dull and irregular
Mr.. Goulds brokers have been large buy
ers of Western Union this p. IN. Dominick
and d. and Bissell have also bought. The
strike is dead, and large number of strikers
are shut out. Others are only taken back at
reduced pay from former prices
Mr.. Keene's brokers are reported to be
largo buyers to-day.
1t is announced that the Union Pacific
transferred upward 1000 shares for invest
ment this week. The Missouri Pacific books
show o transfer of 1000 shares to new holders
since the decline. The Western Union books
show an increase of 800 stockholders since
the decline from so, and there are now about
5000 registered holders.
The Missouri Kansas and Texas has trans
ferred 10000 shares to foreign account since
the road changed management and about
$700000 900 of stock is now held abroad.
REVIEW.
Stocks opened generally strong and to II
higher. The advance in the first hour was
on Western Union and Missouri Pacific the
buying of Western Union being large and
principally to cover shorts. On the opening
CO, e,
1t was thought to be for Keene. The general
lending rates on stocks was l to 2, New York
Central 1, Jersey Central, 1-32, money at to
a, sterling dull, good bonds strong, Tho mar
ket was very irregular but strong ut noon,
Western Union being feature and advancing
to rs.
On the second call stocks were strong act
i've, and advancing at the highest prices of
the week.
Western Union was again the feature and
sold on large orders at T6 the Gould follow
ing being especially strong buyers.
The strike is regarded as virtually over
Keeno and Morgan's brokers bought heavily,
and Slayback bought Western Union this af
ternoon.
At 2;15 stocks were very firm, and large
outside buying was reported by commission
houses. The market is the best of the week,
with the exception of Denver, which was
down "a on the postponcment of the meeting
to nominate a president.
LONDON, 12:3O-American bonds un-
changed; Erie, higher Now, York Central,
higher; Illinois Central, higher; Reading,
higher; st. Paul, higher.
THE STATE OF TRADE.
By associated Press.
New YORK, Aug 17-R, G.. Dun & Co., of
Jhe Mercantile agency, report that the week
has been an eventful one because of marked
decline in tho value of numerous securities,
the depreciation being, however, mainly con-
fined to those in which speculation is most
apt to find employment The consequence to
general business has been for the moment to
parayze the slow growth of confidence and
to restrict operations until the result Of this
sudden furry in values can be seen. The
possible effect upon the money market and
the facilities afforded to manufacturers
and merchants has been the chief
ground for apprehension But the
effect of so great q revulson taking
place with so few failures and with values re-
covering so rapidly indicates u very healthful
condition of things, and it is not believed that
the prospects for the legitimate trade are in
any way likely to be affected On the con-
contrary, the general feeling in business cir
cles is one Of satisfaction, with the prospect
of a good autumn trade, founded upon the be-
lief that the country is able to buy and pay
for large amount of goods and merchandise
and that its debt paying power was never
uAaV.k 4 do ! h.