National Republican., 1883-02-08
THE MARKETS.
A Fierce Onslaught by the Bears Send Prices
Below Zero.
A slight Improvement at the Close-The
Gossip OF the street,
THE DAY IN WALL STREET.
.Specidl DisDdich.

ordered suit against the old Union racine
aa,d Kansas Pacific roads Keene, Woeris-
hoaer, and Cammacl were active sellers of
tbs general market, but it was believed that
Could also had been selling Union Pacific,
and that attack was supposed to be directed
againtt Belden, who is understood to be long
of he stock. Before noon the lowest prices
of the season were made for Union Pacific,
ST. Paul Central Pacific, Chicago, Burlington
and Quincy, Delaware and Lackawanna, Erie,
Northern paciilc, and the southwestern stocks.
The best sutjtained were Vanderbilts, North
west, and Western Union. The decline up to
p. m. ranged between ! and 3 per cent,
Central Pacific, and Chicago, Burlington and
Quincy being tue weakest. The room traders
sold the entireA market vigorously and the
short interest wa,, further increased.
Thore was good deal of manipulation and
washing" OF various stocks, but the bears
were masters of the, situation. London bought
many stocks on the decline, but they may
have been on coverings of shorts. Money
Lent at ito 81. United States bonds were
dull, except as, which were wanted. The
exchange had strong undertone.
On the second call stocks were quiet and a
little rally followed, but Northwest common
was pressed and sold down per cent. below
the opening. At 2 p. nj. the market was
strong for Western Union aud Union Pacific.
The general list recovered to IL from the
lowest prices, and trading was large and ex-
cited. At 2:30 the market WIS still strong
with indications that many stocks have been
oversold
The drive at Delaware and Lackawanna
was attributed mainly to Keene, but Work.
Strong & Co., and l.. l.. White were also large
sellers Considerable Union Pacific was sold
for Boston account. Charles Head und L. l..
White sold good deal of Union Pacific The
buying in of about 1000 shares of Lake Shore
under the rule is for account of various par
ties who failed to deliver.
Scranton and Willard bought $500 shares
of Union Pacific. Enos has sold $500 shares.
Osborn has bought some ST. Paul and North
western and the Vanderbilts bought New
York Central and Lake Shore. Clews sold
Western Union.
A Paris cablegram says there has been Il
legitimist conference, and sweeping changes
are imminent in the French ministry.
The market closed with rally from the
lowest points of the day of about per cent.
Many stocks were heavily oversold and should
the leaders now desire.to twist the shorts they
could put the market up to per cent. While
the market may go somewhat lower, it is safe
to buy and very unsafe to sell short
The Union Pacific borrowing demand was
quite large.
Hollins, the Vanderbilt broker, is buying
failed in deliveries to-day.
TT,,.a
good purchase for or per cent. rise. A
very important negotiation is about TO be
closed that will greatly enhance the price OF
the stock.
Conservative houses claim it is becoming
dangerous to loan stocks any more because so
many operators of limited means are heavily
short of the market; that on rally Of or A
points these operators would not be able to
make good their difference, and parties loan
ing would suffer. Brokers claim that stocks
are such poor delivery that it is sometimes
three or four days before purchases come in.
Keenes and Woerishofier's brokers are the
most active on the market j. s. Field was
the largest seller of Lake Shore, with scatter
ing buyers Brownell and Landen and Fred
Haight bought most of the Western Union,
and Van Schaick also bought Western Union.
Prince and Whiteley and ]. o. Stephens sold
most of Union Pacific. Robins and Robinson
bought 1000 shares, and Davis and Tileston
1000.
In the loan department Lake Shore is I-32
hid for the use, New York Central Lea New
York fat to 2, st. Paul fat to 2, and the gen.
eral rate 3.
Another sleet storm prevails between New
York and Chicago, interfering with telegraph
ing.
Thermometer at Chicago % above.
Keene is reported to have been very large
seller and SO have the room traders. The
short interest has been greatly increased.
Vanderbilt stocks have been purchased by
S2ligman, Belmont, and Probst for English
&count The market has been washed "
to-day, which added to the Generalization.
Sterling is firm and quiet.
Wiliamsport, Pa, dispatch to bankers
here says there is tremendous ice gorge in
Susquehanna river there, and extending fif-
teen miles above, which is expected to break
momentarily.
Chicago dispatches report the weather clear
aud cold there and west, but unsettled south
and east
ut BlulI lluThtU ID hlIullNu lulb
Osborn, Cammack Woerishoffer and COM
mon houses have been selling most of the day,
Vanderbilt and Gould parties buying.
The feeling in the market is bearish, and
reflected the sentiment of the street at the
closing. 1t is stated that the bear party has
been reinforced by Cammack, Woerishoffer,
Newcombe, CarneE and French, and these
operators have been putting out short lines
for the past day or two.
More liquidation by Osborn of st. Paul and
Delaware and Lachawanna.
The bull party is now represented mainly
by the Vanderbilts, Gould, Sage and Smith,
and Gould's party think there will be an ad-
vance, when prices will rise very rapidly.
The Wabash and Pacific railway people say
the Lake Shore road is so crowded by traffic
that there is a blockade of 600 cars Of Wabash
freight at Toledo waiting to go forward
Brokers report good buying Of Wabash,
Kansas and Texas, and Western Union yes
terday and the shorts in Western Union We're
squeezed.
Outside of these there was no feature of inn
portance. The public is not In the market,
and even the room traders are timd. There
was some buying of Denver for Europe, but
the pool did nothing, aud said thoy only
liquidated half their holdings.
1t is reported that there will be bull