National Republican., 1883-04-06
THE MARKETS.
A Considerable Increase in the Volume Of
Trading in Wall Street
Failure OF Chicago Grain Firm-Tho
Gossip OF the street.
GENERAL GOSSIP,
Specjdl DieDnich.

announces the suspension of Handy, Richard
son & Co., grain house which was long of
the market Bradstreet rates them at $780,,
600 to $2OO00O credit very good.
Brokers reported that the most prominent
feature yesterday was the tremendous cover
ing up of the short interest, and -tho proba-
bility is that 100000 shares of shorts, mainly
in Laekawanna, st. Paul and Union Pacific,
were covered up. While many bears woro
badly frightened the public bought consid-
erably, but the large commission houses
sold literally of old long stocks which
they had, and which had been waiting on
the market. The bulls, however, claim
that these stocks were readily taken and
Prices advanced on sales showing good
signs of bull market. Southwestern stocks
were without feature. Smith and Osborn are
very bullish ON st. Paul and Lackawanna,
and Smith believes that Lackawanna is
worth $780, A sharp rise in reading is ru-
mored.
Vanderbilt's following are very bullish on
Reading, and talk of a 10 per cent. advance in
this stock before June. There is also strong
feeling in indianapolis, Bloomington and
Western. It's friends claim it has increasing
earnings, has no floating debt, and will pay
dividend this year.
The Stanford people are puzzled to under
stand why Central Pacific broke last week
and why it don't react iastcr They say the
increased acreage in California will more
than make up the loss and damage to crops,
which, if there is any, will be very light.
1t is stated that the control of Erie is fixed
and its finances are now entirely controlled
by the Mills and Jewell party. A rise Of four
or five points in Erie is strongly intimated
within thirty days by prominent foreign
houses who are dealing in it,
1t is learned from Philadelphia this morn
ing that the Reading March earnings were at
the rate of 9 per cent. on the stock and the
same on the deferred bonds.
Alexander Mitchell tells his friends that st.
Paul preferred is the cheapest stock in Wall
street.
Sterling exchange is steady and unchanged.
Stocks are lending at to 6 New York Cen
tral at 5. The market opened with a full
board, the largest crowds being in Lacka-
wanna, St. Paul, Union Pacific, and Lake
Shore. Kirkner was tho first prominent
buyer of Lackawanna, and the bears ap-
peared to be covering up. f. NJ. Travers
bought 1000 shares and Fahnostock also was
q large buyer. De Cordova sold 1000 Lacka-
wanna, and the other sellers were Mauriac
and Stevens. Hughes sold Lake Shore. The
buyers were Nicholas, Owens, and GroesbeclS.
In st. Paul. Western & Debarry and G. Scott
were buyers, but the trading was light. In
Union Pacific, Vanderhof had large orders to
buy. The sellers were scattered.
Mr. Gould's people say that Gould and Sage
will leave New York for months trip west
next week. The Hannibal and St. Jo directors
say that this company is fully determined to
build q Quincy extension and there is no
foundation for contrary reports. A meeting
of the trunk line managers has been called
here to let the Nickel Plate into the eastbound
freight pools, including live stock The mat
ter may be arbtrated by Mr.. Adams.
Seats in the stock boards are $20,500 bid
and a seat in the National Petroleum board
has sold for $500. ''.ls'-a
London cablegram says the feeling in
general there is that the old Atlantic and
Great Western lease to tho Erie will fail
The matter will be definitely settled to-mor-
row. Brokers report good business in the
board, but it is largely confined to Woers-
hOfer's brokers, who have been buying Central
Pacific short.
A London dispatches this afternoon to the
associated press report great excitement there
over the important arrests of parties with eX
plosives. Extraordinary measures of precau-
tion have been taken by the government and
extra sentinels are guarding Queen Victoria.
Also startling discovery of % Nihilist mine
under the Kremlin in Moscow where the
coronation of the czar was to take place.
THE DAY.
The market opened higher, especially on
Central Pacific, Union Pacific, and Lacka-
wanna. The board was crowded at the start
ing, and the bears were apparently inclined
to covert up and run. Hollins bought Lake
Shore. The order broker in Union Pacific
had large orders to buy this morning and the
selling was scattering. There was good
deal of trading in New York Central. Kuhn,
Leeb q Co. sold 1000 or g. 900 shares of Central,
seller 60, and bought the stock regular. Ster-
ling is higher ] /; stocks lent at G to7. Money
was in demand at z.
Brown Bros. advanced sterling this after
noon per cent. more Governments bonds
are firm. On the second call the general
market became very strong with tho Wander
bilts and Central Pacific leading. The
brokers thought the bulls We're chasing Keen
and they believed him to be largely short,
because Robinson and Hecksher continued to
be large borrower of stocks. Louis Bell,
prominent room trader, was large buyer of
the market on the second call
Osborn & Co. were large buyers, and Os-
born was talking very bulish this afternoon.
Early In the last hours stocks continued ac-
tive at the highest prices of the day.
The bond market was very stiff to-day. At
2:30 o'clock there was Il reaction of 1 to per
cent, Some of the leading stocks, such as
lake Shore and st. Paul, which still left the |
market ! to IL per cent. above opening fig
ures.
LONDON, 1890 oclock.-Bonds unchanged
St. Paul advanced Ontario and Western 4,
and Reading /.
STOCKS.
Tho following are tho opening, highest,
lowest, ana closing prices Of the principal
stocks for the day, as corrected-by special wire
paf,n hNy a 70 ,l.,,,