National Republican., 1883-03-29
THE MARKETS.
Favorable Reports and tho Return Of Gould
Cause a Slight Advance in Prices
Gould and Vanderbilt Sustaining Their
spccialtIes-The Bond Anticipation.
GOSSIP OF THE STREET.
Cuecjnf DfsDdich.


NEW York, Mar. 2S.--Only q few Of the
large operators care to admit that they are
doing anything of moment at present in
stocks, and no movement of significance is
Anticipated before next week, although a
hardening of values may follow on the treas.
ury anpouncement.
The bulls are not inclined to begin work
until funds are cheaper and this may happen
early in April. Importations of gold mean
while, they think, may ease the situation.
Gould and Sage are non-committal, but the
brokers say that Gould sold up yesterday.
The short interest in the general market is
estimated at 100000 shares.
Room traders are generally bears.
Lackawarina earnings since Jan. 1 show 90
per cent increase, and tho stock will be sus.
tanned, insiders say. Traders say the only
stocks which were noticeable yesterday were
Central Pacific and Michigan Central.
The Stanford party admit that the grain
crop of tho Pacific const has been injured by
drought, but claim that the stock Of Central
Pacific is intrinsically worth as much as ever.
Brokers report that Central Pacific sold
down mainly upon questions relative to the
amount of capital stock issued and tho per
ter has but little to do with the break.
Bond dealers report q strong advancing
market for railway mortgages.
The Erie people expect to open to Chicago
May 5.
Gould, in an interview with n reporter on
the morning press, said last evening that
while he did not care to venture n prophesy,
he believed that the country was much more
prosperous than year ago, and that Wall
street was about the only blue spot. Tight
money, he said, could not last long. Europe
is buying our securities, the balance of trade
is in our favor, and he could see evidences of
prosperity wherever he went He and Sage
were going west he said, early in April, for
about fortnight. Mr.. Connor has returned
from the south.
Henry n. Smith thinks Central Pacific is
the cheapest stock on the list He bought a
few hundred shares yesterday and will proba.
bly, buy more to-day. He believes it is worth
as much as Union Pacific.
WoerishofIer and tho bear faction were
ridiculing the bond call last evening, offering
TO bet that less than five millions would be
presented before May /, because the interest
will only be paid to the date of redemption.
Altogether the circular is considered as rather
shabby and as aiiording little or no relief.
The Germans bought Wabash.
Brown Bros advanced sterling to 1914 4si.
A private San Francisco dispatch reports
heavy rains in nearly every county and inn
proved crop prospects.
Osborn & Co. bought 1000 shares of Cen
tral Pacific this morning; Drake Bros. were
the sellers
1t is announced by authority that the pur-
chase of the Houston Central interests by
Huntington has been fully perfected, and
that there is no foundation for the rumors
that Morgan offered Huntington $4,000 to
cancel the purchase
Railway agents of the trunk lines at Chi
cago say that indications point toward n
lessened cast bound tonnage, on account of Il
great deal of grain being stored for the open
ing of navigation. "Pooln Kent, a largo
grain operator, bought about one million
bushels of corn up to 81 cents to-day. He
was supposed to be covering shorts.
Peters and Pell bought 10000 shares of
Lackawanna on the second call. 1t is sup
posed to be short stock. Money was offered at
per cent.
A Chicago dispatch reports that serious
railway strike has occurred on the Ncllle
Plate, and forty engineers quit work to-day.
The men refuse to work twelve hours. Seri-
of large contracts for freight.
REVIEW or THE DAY.
The opening was strong and higher, with
Central Pacific, Lack awana, St. Paul, and
Michigan Central leading in demand, Prices
rose from to in the first hour, and IL looked
as if Vanderbilt and Gould were sustaining
their specialties. There was some good buy
ing later of Central Pacific, which dipped TO
74l and rose to 75l.
This stock is oversold. Henry N Smith
and Orsborn & Co. bought Central Pacific
Goulds brokers and the Germans bought
Wabash and the southerns, and points were
plentifully distributed on the street to buy
gold stocks for rise.
In the loan department stocks were re-
newed at and money offered ut and s..
Government bonds showed considerable i'm
provement owing to purchases for New Eng
land investment and for taxes
On the second call stocks were strong all
around. The Osborn people, II. N. Smith,
and the room traders being large purchases
at the top prices of the day.
Money declined to this p. III. after lend
ing at 8.
Union Pacific reacted fractionally on an
nouncement of tho suit of Morgan, u bond
holder, against the company, restraining the
payment Of dividends until the company
makes an accounting since 1880.
The Vanderbllts and the general list was
steady early in the last hour, but fractiOnally
below the best prices of the day on announce
ment of strike on the Nickel Plate road
At $50 the market was quiet and strong
Money steady, some lending at per cent
The market continued strong to the close
with few stocks Offering, Gould's return has
caused an advance all along the line. The
conditions are all favorable to an advance of
several points and that without any serious
reaction. Money is working easier, and with
tho gold importaions and treasury disburse-
ments we will have no fear of higher rates
LONDON, 1880 p. m.-United States bonds
unchanged; American railways to lower.
STOCKS.
The following arc tho opening, highest,
lowest, and closing prices Of the principal
stocks for the day, as corrected by special wire
reports received by Bateman d Co.. bankers,
No l4ll i street northwest:
2 Il e