National Republican., 1883-07-04
THE MARKETS.
The Bulls and Bears Desert the Board and
Prepare For the Fourth.
Very Little Trading in Either New York
Chicago.
GOSSIP OF THE DAY.
Specidl Disndfch

NEW YORK, July 3.-There was large
exodus Of operators into the country yester.
day for the holidays, consequently another
day of dullness was expected to-day. There
has been NO change in the relative position
of the leaders so far as known, and Morgan,
Smith, Gould, Connor, and Sage continue
bullish, with Woerishoeffer bearish and a
portion of the street with him. The street is
very bearish on Now York Central, and de-
clare this company will be compelled to issue
ten or fifteen millions of bonds TO provide for
its floating debt and place the property
in suitable condition. The brokers
report that the short interest in New York
Central steadily increases, and a borrower
of 1000 shares yesterday said he was an hour
in filling his order. There have been some
fresh shorts put out recently in Lake Shore
and other trunk lines by parties who claim
that the dressed meat decision of Commits
sioner Fink is going to make trouble, as the
rates fixed amount to prohibition, and the
trunk line managers appear to be determined
to crush out this traffic. Fred Potts says the
coal rates adopted by the Lackawanna yester-
day amount to an advance of 10 cents on egg
and 25 cents on stove and nut The room
operators say the only feature in yester-
days trading was the sale of about 5000
shares of st. Paul by Osborn & Co. and
about 1900 by Dickinson. Upon those
sales the room hammered other stocks.
Philadelphia brokers bought about 1000
shares of Jersey at S4s, and large orders
were in the market to buy further at this
price. De Haven and other Philadelphians
had the Jersey orders and some in Reading.
Most Of the room traders said last night that
they were not boarish on the market.
PRESIDENT Little, of the Jersey, denies the
current rumors of dangerous bridges on the
Long Branch roads.
Green sold 900 shares of st. Paul on the
opening; Gurnee bought. Walter Nelson also
sold ST. Paul. The Vanderbilt stocks are me-
elected. Il. L. Bogert sold Jersey Nat Hunt
ing sold Union Pacific. Jersey lends fat,
and New York Central Hat to /. Stocks gem
orally are lending at 2, money at 81 and
sterling is unchanged
The brokers report an increased borrowing
demand for Jersey, also for Louisville and
Nashville, and the latter lends at 1. Union
Pacific is also in good demand. Kirkner is
offering Western Union; PAWN and Wander
hoi are selling Reading and st. Paul.
The Chicago Tribune says the eastbound
traffic east last week went mostly by tho Erie,
Grand Trunk, and Panhandle routes, and
the Vanderbilt roads are very Jealous, and
therefore likely to take energetic measures
to protect their interests. In order to avoid
serious trouble the Erie will soon be admit
ted to the pool on regular percentage.
AT Chicago the weather is clear, ther-
mometer SEQ
The Colorado pool has expired by limita-
ton, but another will soon be formed. The
Atchlson people ask larger proportion.
REVIEW OF THE DAYS WORK.
During the morning the market was
marked by excessive dullness, narrow huc-
tuations, and triting trading. The opening
prices were about ! to higher. During the
hrst hour the market was weak, and North
Pacific preferred declined ]. The loaning
rate on stocks was 2; Jersey fat; New York
Central flat to 1; money at "a; sterling un-
changed.
At noon the tone of the market was rather
hrm but quiet, and the floor was almost de-
serted. Government bonds were strong for
small lots of As and3's. Western Union was
frmer, and Brayton g. Ives bought 5000
shares, and Sage was selling all the year puts
on telegraph at 80 for per cent.
Philadelphia telegram says that in the
opinion of well informed parties the Dins-
more suit against the Reading and Jersey
Central lease was as good Us settled and would
not come up again.
TO 90. The buyers were John Bauvier and
Pondier. The general list was strong at the
best figures of the day.
The Pennsylvania railway $5000,OOO loan
by Drexel, Morgan & Co. was closed out to-
day and the subscription largely exceeded the |
In the last hour the market was deserted
but the quotations were firmly held owing to |
small shorts covering contracts. The market |
closed strong at the limited business.
LONDON, 12:30-New York, lower; Erie,
lower Illinois, ! higher; Pennsylvania, |
lower others unchanged.
Snecial Dispatch.
CHICAGO, July 3.-Wheat was unsettled
md very irregular, 1t opened 1t to IL cents
lower, influenced by fine crop reports and
discouraging foreign advices. The demand |
to cover shorts advanced prices to yesterdays |
close. There was no shipping demand, and |
prices were supported by buying to
cover shorts and the exertions of bulls |
who were overloaded and work. |
ing desperately to go out. At. noon tho |
l to II cents lower thap yesterday July. |
9sa August $lOls; September. SlO3. Stock, |
SOI9,OOO bushels, against 1,053,000 on July 1 |
last year. Corn opened weak and closed to |
! lower than yesterday, latter in July and |
former in August. Stock. 1881, 900 bushels;
,ame time last year, 1,245,000 July, 4s;
August, 499 September, 49l. Oats were
unsettled for cash and July; long futures
We're weak. Stock, 7l4,000 bushels; same
Time last year, 156,oOO.; The crop
prospects were never better. July,
32s August, 2sb; September, 27J'
kye was one cent lower stock GIT 900 bush
els; pork was unsettled and closed 20 to 22I
cents lower than yesterday. Fluctuatiug rap
idly operators showed little confidence. July
$l6623, August $l565, September $I5 J7I.
Lard was weak and closed 10 to l2l cents
lower than yesterday. July 1905, August
$92S, September $685. Short ribs was lower
July S7.s5. August rs, September $50. The
demand was to cover shorts, and the feeling