National Republican., 1883-05-28
THE MARKETS.
The Room Traders Practically Had the Stock
Exchange TO Themselves Saturday.
Reports From tho Railroads and Grain
Fields OF the Great Northwest.
GENERAL GOSSIP OF THE MARKET.

quietly covered the most of his shorts, but he
is still lighting any rise in Union Pacific, and
the other large operators are doing but little
just now in the general market, and they
may not hold for higher prices until some
time next week. The largest traders, how
ever, are bulls on the situation, and still be-
leve in a substantial rise within n fortnight.
The mills party continues very bulish and
say If Gould only half way supported his own
stocks the general market would quickly re-
spond. J. G. Mills believes the Gould peo-
pie are constantly selling their Wabash stock
and other southwesterns, and they would
sell Missouri Pacific and Western
Union if they could. 1t is reported
that the Pacific Mail annual report to be
issued shortly, will show per cent. net, and
the funds will either be used to pay off the
million dollar bonded debt to the Panama or
make cash dividend. If this debt is paid
the company will be left in fine shape to pay
stock dividends hereafter. The Mills people
declare that Pacific Mail in any event is worth
more than IL is now selling at The decline
in Manitoba is partly due to an alleged strike.
The Western Union business is still increas-
ing. They engaged % additional operators
yesterday. Sage bought great deal of Kan
sas and Texas yesterday and the incomes are
said to be good for to 10 per cent. advance,
as the company proposes to call thep in
soon and substitute 5 per cent. bond.
Leading foreign bankers report the selling
of stocks here for Europe has ceased, and
there is no probability of any large shipments
of gold to Europe this summer.
The Lackawanna April earnings were over
S0.100 per cent.
Chicago dispatches this morning report
fresh complications regarding the Iowa pool.
The st. Paul Is accused of selling Council
Il. a Q
rate. The st. Paul denies this, and says they
simply allow the same commission as others.
At all events, rates are not maintained, and
the Chicago Tribune says there are fears of
general war, unless harmonious counsels pre-
vail Immediately.
The room is very bearish on the market,
and the up town party, with Van Emburgh
& Slayback are sellers. Struthers sold 5000
shares of Union Pacific, and the buyers
Bouvier and j. Raymond. w. b. Wheeler
put Reading down. H. Lapsley sold 1000
Northwestern. Enos bought New York
Central.
Cotton is up to points on account of bad
whether. In Chicago the weather is cloudy.
Wheat is up cent and corn unchanged
London cables, to the closing, report Amer
can stocks generally to higher.
A Chicago telegram says the Rock Island
railway is selling council Bluff tickets for So.
1t is decided that the prorating on California
business must cease.
A special dispatch from Allentown, Penn
sylvania, says the Allentown Iron company
is not embarrassed. 1t is working three out
of FIVE stocks. The stock of orc on hand is
sufficient for five months and tho bond
holders may operate the works after the
present dullness is over.
Insiders in Pacific Mail says this company
could immediately liquidate the balance of
the Panama loan, as its treasury contains
$375,000 cash. But the Panama company re-
fuse to receive the money until due because
of the per cent. interest income. The Pa
cifc Mail people say the Huntington line of
steamers has largely increased traffic g-scg
The market opened as dull as usual Satur-
days. Stocks loan at 2. There is some de-
mand for Manitobas Money is offered at 3 ;
sterling unchanged.
Kimball s. Howell sold Jersey; Struthers,
j. B. Wilson, and Scranton Il Willard bought
the same Bogert sold st. Paul; Olcott and
Carolin sold Delaware and Lackawanna; in
Wabash preferred Hughes bought and Bogert
and Talcott sold. There was very little
trading in Union Pacific or Western Union.
Slayback bidup Wabash preferred, and Clews
sold; Keene's brokers bid up Jersey, and
Stevens was the largest buyer; the room
traders are generally bullish for higher
prices next week. Samuel Barton bids 3 per
cent. for the August dividend on Michigan
Central. The Northwest people say they
of this months earnings, as the receipts for the
c responding week last year were enormous.
THE BANK STATEMENT.
Loans decrease. $40, 500
specie increase. .....,................. 2,26I900
Legal tender increase. .........-......... 17S3 200
Circulation decrease. 166.70O
reserve lncr ease ,'.''..'''.''''''''''''.' 546UG
Banks hold In excess 0,l76,2OC
LONDON, 12:30.-Erie, lower; Wabash pre-
n.
ing, lower; Lake Shore, unchanged; st. Paul
! lower; Louisville and Nashville, 11-l6
lower; Ontario and Western, unchanged Illi-
nois Central, unchanged. United States AIS,
higher.
REVIEW.
Tho stock market opened as dull as usual
ON Saturday, and the room traders monopo-
lized the trading. Money was offered at 3,
and sterling remained dull. Now Jersey Cen
tral was trihe firmer on the announced re-
moval of the receiver, but most of the trading
was by the scalpers in the room. The bank
statement was regarded as very favorable,
and money dropped to 2l
On the second call the general mark ct was
stronger, and Iractionally higher on light
transactions. The railway bond market was
strong. Government bonds were unchanged.
Early in the last hour the prices were about
tho highest of tho day. At 2:30 the market
was quite strong ON light trading, and an ad-
vance OF to was recorded.
The market closed dull but firm at the ad-
vance.
THE SITUATION.
The severe cold weather over the entire
country, which was accompanied in the west
by snow and in tho south by frost furnished
new excuse for rumors of serious damage to
the crops. Grain spectators in particular
have made large capital from these facts, but
the latest information from all sections only
confirms the belief that very little, if any
damage TO grain has been done, and in this
particular tho situation is about as last week.
The pu bile continues TO take very little in
terest in Wall street. the trading being largely
confined TO the professionals.
The bears are, of course, magnifying every
rumor that could be used to depress the
market, while their opponents seemed to be
waiting their opportunity. The ease, how
ever, with which the latter have advanced
prices shows that they are not as confident as
formerly.
Tho railway earnings exhibit shows an in
crease when compared with last year, and the
prospect is such as TO encourage investment
especially in the best managed and most
promising roads No very liberal European
Investment can be expected in the present
comparatively unsettled financial condition
In London. The Pennsylvania statement OF
April earnings may be taken as an example
1t shows the gross revenue for April to be
heavier than the same month of any preced-
ing year as compared with 1852. The state
ment shows the following figures.
1888
Gross earnings... S4,O6l,I6C
Expenses 2,593,9ls