National Republican., 1883-02-22
THE MARKETS.
A Slight Advance at the Opening Lost Before
the Close.
The Facts aud FanCies that Affected Prices
During the Day.
THE DAY IN WALL STREET.
c,,eci1i Disbnfch

...- fIcrfdt DisUntcf.
NEW York, Feb 21.--The opening showed
q rush of shorts TO cover, especially In Union
Pacific on the favorable government direct
or's report Delaware and Lackawanna was
likewise strong on the iiattering annual state
ment made yesterday. The average list
opened 1 to per cent. higher Telegraph
rose to 81 and Reading to 81, but before II
o'clock there was sudden reaction of TO 1
per cent, the latter in Union Pacific and
Delaware and LaclSawanna, on unfounded
Chicago reports Of trouble in the Union bank.
Later advices said the story was started by
spectators and unfounded. The market
rallied and appeared to be very variable and
sensitive to unfavorable ncws no matter how
Insignificant.
On the second call, on very dull trade,
there was a considerable improvement all
around and the loss of the morning was re-
covered. Goulds brokers were buyers. Kcene
was reported very bearish. There was a good
borrowing demand to-day.
Reading lent fiat; Lake Shore and New
York Central fiat TO 1 ; New Jersey Central and
Delaware and Laokawanna ut 9 per cent. and
the general list at 9 to g. Money was offered
at4.
In the last hour the market was weak and
feverish, tho wabashcs being especially pressed
for sale.
Everything was dull and below the OPEN
ing. About the only exceptions were Erie,
Lake Shore, New York Central, the Omahas,
and Northern Pacific stocks, which were
steady on dull business. The market closed
weak and unsettled.
GOSSIP.
There is no truth in the rumor that Pres
ton, Kean & Co., of Chicago, large bankers, are
In trouble. 1t Is definitely denied by two
private wires. There are rumors Of large
grocery failure.
Chicago dispatches say the grain market
has been flooded with sensational rumors, but
the only suspension has been O small grocery
house tAllen & Coz, and that is not positive.
The defalcation by clerk in Preston, Kean
& Co.'s house was only $4,000, and the con-
cern is able to stand it. Sterling exchange Is
quiet, but steady. The fall in wheat will let
out exports.
A later Chicago telegram says w. T. Allen
& Co. have made an assignment without pref
erence. According to Brddstreet, this concern
stood high, with credit of 100000 to $780,
600.
The Delaware and Hudson Canal company
has just declared a regular dividend of IL per
cent. The treasurer of the Rock Island rail
way says, "'Tho earnings thus far indicate an
addition of million to our surplus, making
the total surplus about three and one-hall
millions"
Keene is talking very bcarish on Chicago
Burlington and Quincy and Rock Island, and
the selling of these stocks is said to come
from him.
Kecne has sold ninety day spread for pei
sent., IA per cent. q part on about 100OC
shares of st. Paul, Union Pacific, Louiivll,
and Nashville, and Illinois Central and som,
on Union Pacific at 90 per cent part for six
months. vl--c - 80
The United States steamer Ashuelot has
been lost at sea. The officers were saved, but
eleven of the crew were drowned.
The Moro Castle, of the Clyde line, was
burnt at her pier in Charleston this morning
The crew escaped.
The Youngstown Iron works have beer
placed in tho hands Of q receiver and the
mills closed up.
1t is not expected that Com. Fink will be
able to attend tho trunk line meeting to-day
IHNTb Will uO uHObhSl hObilhE III ou-
preme court to-day in the mapdamus pro.
ceedings brought against the New York Cen
trail aud Erie last night for the freight block
ade.
Stephens sold and HotchSiss, Burnham &
Co. bought Delaware and Lackawanna. L. T.
Williams sold and A. S. Davis bought Union
Pacific largely. Wormser sold and Mr.
Brown bought most of Reading. Bogert sold
and Dickinson offered Wabash preferred.
Drummond bought st. Paul. Enos bought
New York Central and Fanshaw sold.
The private London cablegrams report
American stocks firm and advancing.
STOCKS.
The following are the opening, highest
lowest, and closing prices of the principa
stocks for the day, as corrected by special wir,
reports received by Bateman Co., bankers
No. Corcoran building:
u :,