National Republican., 1883-11-23
THE MARKETS.
Spectators Anticipate Rally in Stocks
Soon.
Tho Usual Grist Of Talk About Railway
Rate Wars.
REVIEW.
Specidl Dispdtch.

transactions. Tho feature in tho early deal-
ings was Reading on the resignation of Mr..
Gowen.
The Gould stocks especially Wabash
aud Texas and Missouri Pacific, wero quite
strong, and the improvement in each reached
nearly 1 por cent. Union Pacific was weak,
and declined 1. At IL o'clock the prices were
about at last nights closing. except Eric and
Western, which was higher, and Texas and
Union Paciic, which were to lower.
sterlin quiet, but generally firm.
Government bonds dull and steady.
1t is reported this afternoon that President
Loveioy, of the Denver, is bent upon break
ing the Colorado pool, and this affected Chi
cago. Burlington and Quincy as well as the
Union Pacific. There was further decline
in Union Pacific to s6l, but tho general list
was strong and advanced to2. St. Paul
common to 0St.
Business continued more active during the
closing hour, the Wabash showing reaction
of from best prices.
GOSSIP.
A high executive officer of the st. Paul
road said this afternoon that his company
don't propose to cut rates, but it will insist
upon membership in passenger as well as in
freight pool
Union Pacific sold down on rumors of a loss
in October net earnings Of 100000, but
nothing positive given.
Keene is bulling Oregon Transcontinental
for 53 this week. Cotton is very stagnant,
waiting on receipts; this week will be 10000
to $4,000 bales behind last week. No news
from tho Ranger meeting in Liverpool to-
day.
The market is dull, but strong. There is
growing feeling that the outcome of the war
in the Iowa pool will be settled soon. No
disposition to sell the market at the moment.
1t is reported the Indianapolis, Blooming
ton and Western and the G. @. G. and |. will
work together and exchange traffic,
1t is reported on the best authority that the
September gross earnings of Erie were 81, 600-
000 and the net II, 100000.
Chicago telegram reports the failure of
II. G.. Billings, lumber dealer. Liabilities,
over 100000.
q link from Chicago Junction, Ohio, to Akron,
which will give an eastern connection and
direct channel for New England business.
To-days Chicago Tribune strongly hints of
n proposition showing that the Rock Island
and st. Paul are likely to come together as
against all other Iowa lines.
A million francs arrived to-day from Eu-
rope.
Steel rails are offered in 1000 ton lots at $50,
and can probably be bought for S31. These
rails cost over $40 to manufacture.
Skinner and Shelton have been buying Erie
and Western, and pointers say it is thirty for
this week,
Mr.. Vanderbilt is in Wall street this morn
ing.
Government bonds quiet in the board but
considerable doing outside.
There is no news from western railway mat
ters yet, but director Of the Rock Island
says it is believed at the Office here matters
will be finally harmonized. DAVIS is disin-
cined to give his opinion in the matter.
Cotton is unchanged, and u New Orleans
authority places the maximum of crop at
5,750,000 bales. Receipts at New Orleans very
free, because there arc two more roads and
three more packets bringing it to market. 2
Reading was a feature of themarket on the
opening. Price l cent higher on resignation
of Gowen, with but little stock offered. Nor
ris Brown was prominent buyer.
In st. Paul Willard sold and Stevens
bought.
In Lake Shore the buyers were Van Hoff-
man and ProbSt.
In Lackawanna Henderson bought, and tho
sellers were Lines, Quigley, and A. A. Drake.
Erie was sold by Ottman, and Marx bought.
Loanng rates of stocks unchanged, with
small borrowing demand. Money, %. Chi
cago dispatches say the weakness in grain
yesterday was owing to the Southern bank
failure.
Vanderbilt brokers talk bullish on Canada
Southern, Erie, and Western, and say that
both are good to put away.
Market stronger. No disposition to sell it
this morning.
Brokers agree that Notwithstanding the
excessive manipulation the market at present
is slightly oversold and on good borrowing
demand: Some of the sharpest shorts, there
fore, covered just before yesterdays closing,
not liking the appearance of this decline,
and they hold that the general active list is
probably more oversold than the condition of
outside business justtles. The only mpor-
tant feature of yesterdays business was St.
Paul. Osborn's people manipulated the
stock considerably, supposed for tho Stand
ard Oil people, but s. V. White also sold
to extent of 1000 shares and Vanderbilt
people bought freely of Lake Shore. w. l..
Scott says the Northwestern railway direc-
tors meet here next Saturday, when usual
dividends upon these stocks and Omaha pro-
ferred will be declared. Scott is O great bear,
mainly because of unfavorable general bust
ness in all directions. He declares the de-
preston in interior trade is greatest in his
memory. He believes Union Pacific will sell
at so this year, and swears the Wabash stocks
are utterly worthless.
Cammack says President Lovejoy, of the
Denver, says the traffic of the road has in
creased fully 20 per cent, and that the road
will be in first class shape as soon as new
bridges replace those carried away by the re-
cent freshets. He says also that Union Pa
cifc business is all cut to pieces, and the com.
pahy has been obliged to reduce transporta-
tion in some cases from 81 to 20 cents per
hundred weight,
Ledyard, of the Michigan Central is buy
ing u large amount of steel rails, and thinks
they are good speculation to hold for year
Morgan bought some stock yesterday, and he,
with the Mills party, don't believe the Iowa
pool lines will cut rates.
Grain people complain of only light export
demands from this port.
The market is pretty we'll oyersold and liza
BILE to sharp rally. There is a growing bear
feeling on Union Pacific, and should be good
short sale on any general rally in the market
Vanderbilt brokers bought Lake Shore yes
terday, and stock is virtually pegged at par.
Bear talk on Canada Pacific is dying out
The Bank of Montreal and j. s. Kennedy
are talking higher prices for it.
Mr. Clark, president Of the Illinois Central
Just from the south, says that cotton will be
short on account of drought, aud the orange
crop is also short. Sugar and rice good crops
The Delaware and Hudson Canal company
declare TX dividend Dec, TO-
GRAIN AND PROVISIONS.
Following are opening. highest, lowest and clos
ing prices on Chicago board of trade as corrected
-