National Republican., 1883-04-16
THE MARKETS.
A Fairly Busy Day in tho New York Stock
Exchange. .
The Prospects for Full Crop Increasing
Provisions and Cotton.
GOSSIP OF THE STREET.
Special Dispdtch.

professional bears are paving against the
advance except Cammack, who Is resting.
Union Pacific was raided by this party to
affect the rest of the market, and some long
stock was shook out, but the short interest
was increased to a still greater extent. There
is said to be good buying of Jersey Central,
and 1t was intimated that the Standard
Oil party is buying again. A smart
advance in "the incomes" of this company
is predicted shortly. These securities stand
next to first mortgage bonds, and there is
considerable amount of back interest due
which has been diverted by the manage
Inent to other purposes, which the lawyers
declare must be repaid to the stockholders.
The bears who raided Wabash preferred yes
terday circulated a story that the road has
been leased to the Iron Mountain road
for u nominal sum for 80 years, aud
that twelve millions of the Wabash bonds
have been or will bo issued to the
Iron Mountain at 80 to 90 per cent, from the
proceeds of which the Sage-Gould debt of
four millions will be paid and about three
millions due q car trust company for rolling
stock will be advanced on credit. An officer
of the Wabash road said this yarn was mere
guess
1t is expected that the Omaha railway ar
rangement with the Northwestern will be set
tied before Vanderbilt sails for England on
Mays.
insiders in Central Pacific are buying stock
liberally and bought heavily yesterday. They
declare it is the cheapest per cent. stock in
the land
The friends of the Minneapolis and St. Louis
management believe that the common and
preferred are a good purchase at present
prices and expect, if the crops turn out well,
that the common will advance 10 per cent. by
(nmmnp<
Europe in May. d. o. Mills is very bullish
on the general market, and his friends de-
clare that he is very long ON the market.
LONDON, 12;30.-Bonds unchanged; Onta-
rio and Western, 1t higher Pennsylvania
Central and Reading and lower.
Stocks are lending at to 6; money is of
fered at 9; sterling steady.
Lake Shore was bought by Scranton, Viii
lard, George Green, Godet, Brown, and Ander-
son and sold by Davis & Tileston, Probst,
and Flemming. In New York Central Yer
milye sold, and Herrick was offering at l6
cents below the market seller 90. hunting
d. Osborn bought most of the Lackawanna,
and Frank johnson sold. Baldwin sold
Union Pacific; Dickinson bought
Mr.. ID. z. Morgan arrived on the Baltic this
morning.
The Union Pacific has made an application
to the stock exchange for privilege of listing
900 of the bonds of its branch roads, in
CluuluR UHC SOlOIduO IOnlIdl, Juan
South Park and Pacific, Kansas Central, and
two others. The company propose to issue
per cent. bonds to the extent Of seven and
three-quarter millions on these securities,
and of this amount Blake Bros. will negotiate
not to exceed five millions.
The attack on Michigan Central was started
by Slayback, and 1t is believed for the 'pur.
pose of stopping an advance in other stocks Of
which he Is short. Johnes and Elliott also
sold, but later they retired, and @. ]. Hudson
d Co. put Michigan Central up again.
United States bonds were dull; sterling
nominally steady with q disposition to sus-
tain quotation. Cotton is lower than for any
summer in twenty-eight years.
THE BANK STATEMENT.
Loans decrease. OBSERVATION-DISCLOSURES. SSl6. 800
Specie increase. .........-... 2442400
Legal tender increase. 1,76l400
Deposit increase. S,l6S6OO
Circulation decrease. se....'..',.''....''.... So,20
reserve increase. 5,ll,OOO
The banks now hold below the legal require
ment $290550.
Sterling is weak, and double names ON the
Union bank, of London, are 4S24. A promi-
nent stock commission house reports u de-
mand to borrow first-class stocks for placing
in time loans where money has been bor-
rowed, and the loans are not yet due which
makes an appearance Of q larger short inter
est than really exists.
A London cable says 1000 persons have Just
been arrested in Moscow for plotting against
the life of the car.
A panic exists in the Paris oil market and
q great depression is caused mainly by the
death Of a prominent broker.
REVIEW.
The opening was quiet and steady, with
prices advanced to !, but soon reaction,
mainly owing to the bears hammering Union
Pacific, set in. The market generally
appeared to be taking care of itself Toward
noon there was raid on Michigan Central.
New Jersey Central was strong feature, and
on the second call was up II, and it was re-
ported that the oil people were buying. Read
ing advanced point, Richmond and Danville
to IL. East Tennessee preferred was strong,
and from lowest figures. The bank state
ment was, unexpectedly, favorable, and the
announcement strengthened the market.
Money lent at per cent. after tho state
ment appeared on the street. Stocks loaned
at to 8. After 2;15 p. m. stocks weakened
on realizing sales, but most of the active
leaders were above tho opening quotations.
Jersey Central was the strongest feature and
Union Pacific the weakest, New York Cen
tral was fractionally lower, but the other
Vanderbilts were steady and unchanged.
Dickinson and Johnes hammered the mar
ket at 2:30, but without much effect in prices.
Union Pacific was still weak. The condition
did not materially change after that hour,
and the market closed weak in spots and un-
decided in tone.
RETROSPECTIVE AND PROSPECTIVE.
The general outlook has suffered but little
change during the past week and the ease in
money has continued, This, as was to bo ex-
pected, has given an impetus to speculation in
stocks. Men who have watched the market
for years are inclined to believe that the inn
pulse thus given is likely to prove more last
ing than some of those evanescent advances
which have recently deluded with false hopes
investors in stocks. Certainly all the condi.
tions exist to warrant the reasonableness of
their belief. Indeed, the enormous railway
earnings now reported as the result of traffic
between the northwest and the seaboard is in
itself fact sufficient to justify the most san
guine hope.
The great desideratum at present is a posi-
tive assurance Of big crops. This once ascer-
tanned, there cannot fail 10 be marked ac-
tivity among the outside public in the matters
of permanent investment i'll securities and
speculation in the stocks of the great prop
critics. The advancing days of April have
brought with them a brighter outlook, and
there is every reason TO expect u prosperous
farming season in both the east aud west
The announcement that the Northern Pa
Cihc and New York West Shore and Buffalo
roads were arranging for q through route con-
Meeting the Pacific with the Atlantic coast is
not without interest to the investing public
Another item of equal Importance To the
same class is the recent recording in Balti-
more Of q f2500,000 mortgage by the Balti-
ON Ohtf, a