National Republican., 1883-06-04
THE MARKETS.
A Marked Advance in the Whole List Cheers
the Spectators
Encouraging Reports From the west
The Winter Wheat Crop.
SATURDAY POINTS
SpeniaI Dispnich.

Special DisDdtch.
NEW York, June 3.-The general verdict
on the market last evening was that It looked
very good and as If prices would go consider
ably higher. 1t is believed that Gould has
bought fully 100000 shares within the
past week, and his people been gradually
getting long of tho market quietly. 1t
was admitted thatthis was not apparent
to the room traders, where Johnnes,
Kerkner, and Bell were credited with
doing most Of the buying, and they seemed
TO have entire control Of the movement,
but there was other good buying and
the advance was aided by the short interests.
Some of tho bankers thought last evening
that two-thirds of the buying yesterday was
to cover shorts; others said this estimate was
extrvagant. 1t is stated that a prominent
New street bear house bought in various
stocks furiously yesterday. Thirty-hve hun
dred shares Of Jersey were bought. They also
bought very largely of Lackawanna. II. s.
Wilson covered 1000 shares Of Jersey Cen
tral. Morgan bought largely of Jersey Cen
tral, Lackawanna, and st. Paul for long
account, and Slayback covered batch of
shorts In st. Paul. Lester, of Chicago, was
large buyer Of stocks here yesterday. 1t is
said the New street rail compact can be made
before Nov. ].
There was great excitement in oil yester-
day, and large crowd ut the Hoffman house
last evening. Trading was lively be
tween 1.19 and 1901. The latter
was bid at 1890 p. m. Keene was
present Betting was made that the price
would touch 1.25 to-day. 1t is said Gould has
made an offer to parties controlling the Mem
phis and Charleston for their holdings, and
his bid is likely to be accepted. The price is
understood TO be considerably above current
quotations, and an important advance is
probable.
Sterling is steady at ass to 4.ssi. The
latter bid. More business is expected carly
in tho week.
1t is reported that d. o. Mills has been
buying Erie. Harmed is the largest pur-
chaser.
Gould is in Philadelphia to-day seeing a
trial trip Of his yacht.
1t is reported that William Heath & Co.
will apply to list the 5 per cent. bonds Of the
East Tennessee and the income bonds on the
London stock exchange.
st. Louis dispatch says the Santa Fe has
not withdraw from the Colorado pool.
The Chicago Tribune says the crop reports
are not unfavorable from any quarter, except
in regard to corn, which is generally being
replanted. With favorable weather it will be
a good crop.
1t is stated on authority that tho Reading
agreement with the Jersey Central income
bondholders is to pay per cent. from June !,
and Mr.. Gowen has agreed TO take up the mat
ter of back interest, and is promising fair
and liberal adjustment.
A Chicago telegram reports tho weather
fine, but storm is brewing in the west, and
has strengthened the grain market.
The brokers report the general feeling on
stocks very confident, and there is good out
side buying. The commission houses report
increased country orders
Governments are strong and active on the
whole list. Stocks are renewing at yester-
days rates, and but few are returned, show
ing large short interest uncovered.
Fairchild, Nicholas, Stevens and Cecil
bought Lake Shore; Heath sold. In New
York Central Heath sold and Larsh bought
Chapman bought all the Kansas and Texas
which was offered. Kirkner sold Union
Pacific; Wetmore- Rathbone bought In
Michigan Central Hollins. (Vanderbilts
broker) bought. Clews bought Delaware and
Lackawanna, st. Paul, and Reading.
j. o. Stevens sold Delaware and Lacka-
wanna and Jersey Central. The Denver earn
'ings increased last week in May $S,90O
SATURDAY REVIEW.
Stocks opened to & in advance of Fridays
closing, and the general feeling was very con.
fdent, with increased outside buying. The
general feeling by noon was quite bullish,
and the leading stocks were l to "a per cent.
up The coal roads showed the lead followed
by Vanderbilt and Gould stocks. The room
traders were very bullish but said they were
simply floating along with the market. Erie
touched 81, and it was said that d. o. Mills
had bought largely. Government bonds were
very strong and active. Sterling was dull
and unchanged. Money loaned at ~ to 3,
and stocks were renewed at 2 to 3, without
much stock coming out, showing the short in
terest large.
On the second call stocks were very strong
at the best prices of the day. About 2:30 there
was some little realizing and the quotations
dipped to per cent, but tho undertone was
very stubborn and strong.
aThe exchange will open at II o'clock on
Mondays June to Sept. "a, inclusive.
THE SITUATION.
The situation, as a whole, is much more ia
vorable than last week. Tho most favorable
feature in trade circles is the settlement o
the difficulties between the employers and
employees in the iron districts of Pittsburg and
vicinity, and the practical settlement of the
same troubles in Chicago, Cincinnati, and
other western cities. This insures prosperity
in tho iron districts for at least another year
The winter wheat crop prospects show nC
material change last week. A shortage i:
very generally conceded. A prominent Chi
cago grain firm estimates tho shotage in win.
ter wheat as follows:
Per cent