National Republican., 1883-08-04
THE MARKETS.
After a Generally Encouraging Day Trading
Dulls and Closes Weak.
Ruplor That Western Union VIII Soon
Yield to the Strikers.
A DAYS GOSSIP.
SDscidl nfaOafch.


consent to receive any delegation or commit
tee Of operators that may be sent them.
Opinions on telegraph vary considerably,
however, and some of the brokers thought the
selling yesterday was better than the buying.
The buying of Missouri Pacific was of bot
ter character, and it was claimed that insiders
were buying it and it would bo sustained;
The friends of Canada Pacific, Northern Pa
cifc preferred, and Oregon Transcontinental
also had sustaining orders in the market.
The selling of New York Central was said to
have been partly on account of shorts covering.
Private Boston advices continue to be the
reverse Of reassuring. The unsettled feeling
prevails to an alarming extent, aud is more
widespread than has been known for years.
Banks and money lenders who have money
out are making every effort TO get it in, and
it is feared that forced liquidation on large
lines of stocks will be made
1t Is said the railway commissioners have
rendered a decision recommending that the
New York Central and the Erie railway COM
panies abolish the charge of one cent per
bushel for elevatihg grain from their docks
into vessels.
Should Huntington secure control OF the
Louisville, Evansville, and st. Louis road, it
is said he will extend the road TO st. Louis,
thus giving the Chesapeake aud Ohio an air
line from Newport News to St. Louis via
Louisville.
Governments were quiet but steady. Rail-
way bonds were dull and the changes in prices
downward.
A Washington press telegram says the
Union Pacific company consents to the filing
Of tho claim by the government for the
amount which the Secretary Teller claims is
due.
Government bonds are firm, and fow 4s
aud AIS are offering. Money is at q exchange
dull and unchanged. The market opened
weak and lower, but after 1890 showed more
strength than was anticipated Northern Pa
citic, both common and preferred, and Oregon
Transcontinental were very strong; Northern
Pacific preferred lent fiat.
New York Central and Jersey Central lent
fiat; Missouri Pacific, Delaware and Lacka-
wanna, and st. Paul leut at l; others 1 to 3
The short interest is increased all around.
Scranton and Willard bought all the Western
Union up to SOL, with scattering sellers. Won
Hoffman sold Lake Shore, Chapman and A.
ii. Brown bought in New York Central; De-
walt and Kirkner sold. The buyers were
Shafer Bros, Lansburg, and Baldwin.
1t is announced that Mr.. Il. Dwight has
been appointed receiver of the Toledo, Gin
cinnati and st. Louis railway.
General Manager Talmage, of the Wabash
road telegraphs from the west as follows
Crops look very fine on the central branch.
The yield of both corn and oats will be very
large, and the wheat crop will be larger than
last year on a smaller acreage. We have good
reason to expect a good business for this road
for the next year"
Prominent officials of the Ohio and Missis-
sippi railway state that the reccivership will
be dissolved before the annual meeting takes
place in October. During the rcceivership
the road has contracted no debt and will not
pass under the control of the Baltimore and
Ohio, as has been stated.
1t is understood that the traffic contracts
II
the Reading on the eastern end and, the Van
derbilt lines ON the west, provide that each
shall pay"a guarantee of 20 per cent. upon
the traffic coming to their lines from the new
road for period of 10 years, unless prior to
that time the road shall be able to earn its
full interest without such guarantee.
The earnings Of the Connoton Valley road,
which the Pennsylvania company are endeav-
oring to lease, for the first three weeks in
July show an increase of $1,000.
1t is announced that w. X. Ackermau has
formally resigned the presidency of the Ill-
nois Central railroad. The reason given is
that he needs rest after % service of thirty
years for that corporation. His successor has
not yet been announced.
James X. Beard, secretary of the Mexican
Telegraph company, denies the report of
operators striking on the Mexican lines
Notwithstanding this, however, the report is
we'll authenticated and generally believed.
ceve aud treat with committees from the
strikers, but will not recognize the brother
hood. The strikers are decorous and firm,
and declare they can't be starved out, and
will remain out till the company comes to
terms. The reported resignation of Eckert
cannot be traced to any definite source.
The officials here have nothing to say
Western Union is little better supported to-
day than yesterday.
REVIEW.
The market opened weak, but to higher
than last nights closing, the latter for Nor
thern Pacific preferred Shortly after the
opening the market strengthened and prices
were marked upa fraction All stocks were
much better sustained than had been ex-
pected Northern Pacific was especially
strong, and the common quickly advanced
from 45I to 40, and the preferred to 80. Or
egon and Transcontinental was marked up
to n. Western Union was also much better
sustained than yesterday. Stocks lent at l
to 2. Northern Pacific preferred, New Y York
Central, and Jersey lent fiat. Lackawanna
and st. Paul at l, and government bonds
were firm, but dull. On the 230 bond call
AS were advanced fraction twenty regis
tered tOurs were sold at l2s, Twelve was
the best bid at the close, with few Offering.
Exchange dull and unchanged at 4S4 to "a
for best bills. The general short interest was
materially increased all around, All the
%Nestern Union that was offered up to s0B
was taken by Scranton and Willard, and was
said to be for long account. The
sellers Of Western Union were scattering. 1t
was said that Woerishoefier's brokers were
the largest sellers Won Hoffman was the
largest seller of New York Central and Lake
Shore. Chapman was the largest buyer of
New York Central, Kirkner was also largo
seller of New York Central. On the second
call prices reached the highest figures of tho
day. Texas Pacific and other Gould stocks
showed moro strength than for some time
past. After o'clock p IN. tho market re-
acted on unfavorable rumors of further breaks
in Boston, and 1t was positively asserted that
the threatened forced liquidation of large
lines Of stocks by New England holders would
take place tomorrow. Telegraph lost its
support on rumors that Eckert had resigned,
and 1t was only question of few days till
the strikers secured their point. At 2:45
o'clock the market was dull and weak, and
continued so TO tho close, closing weak at
about the lowest prices OF the day.
LONDON, 1880. New York Central,
lower; Wabash preferred, lower; Illinois, I
lower; st. Paul. lower.
REVIEW OF THE WEEK.
By associated fress.
New York, Aug. ar G. Dun & Co. re-
port that business throughout tho country
during tho week, from this point of view,
appears to have been much restricted, and tho
progress toward better state Of things has
been slow. return of confidence has been
somewhat retarded by the important failures