National Republican., 1884-11-29
STOCK AND GRAIN MARKETS.

cif,cs In Proapcct--ChlcaRo and Bal
timore Quotations.
NEW YORK, Nov. 2s.-The majority of
traders uptown yesterday were Of the
opinion that 10000 share purchase Of
Northwest bought on Wednesday by
Brandon was for Mr.. Gould, and this
was also tho idea of Cammack and Smith,
who claimed to believe that the stock
was taken to cover shorts, but Mr.. Gould
personally denied that he had any hand
in the operation, and further stated he
had positively not been short of the stock.
Tho Windsor bears, including Smith,
Woorishoffer, and Cammack claim that
they covered up the talk of their shorts
early in tho week, and Smith said that
he and woerishoffer bought in most Of
their Northwest when they found out
that tho regular dividends would bo
mado, and thoro was no use in wasting
powder under such circumstances. Tho
general talk was favorable to higher
prices oil around to-day and tomorrow,
but everybody agreed that reaction was
1rst due. ...-.-...... .
The primo movers in Wednesdays ad-
vance were believed to be Mr.. Gould, and
his friends, including some of the Van
derbilt party, ID. o. Mills, Morgan, Slay-
back, and s. v. White, There were some
large orders cabled to London last even
ing to buy New York Central and Lake
Shore. Tho prices In London yesterday
were generally to IL higher than on
Wednesday, tho strongest stocks boing
Lake Shore, st. Paul, and Illinois Central.
New York Central was only higher and
the Erie bonds and stock lower.
Chicago press dispatches yesterday an
nouncing the restoration of east-bound
passenger rates by tho trunk lines, with
q forfeit for cutting, caused much gratif-
cation among the bulls and surprise to
Cammack, Smith, and Woerishoffer.
This mornings sdvices fully confirmed
this news, and said the restoration is to
take effect two days after the joint agent
receives tho signed agreement. All but
the New York Central have promised to
redeem the round-trlp tickets lying in
Chicago but there arc very few of them.
Tho Lake Shore quarterly report was in
private circulation yesterday. 1t is dated
up to Sept. 30, and shows the gross earn
ings to be 1874, 900, operating expenses
1921 900, and net earnings $1,510,000.
The operating expenses were 5939 per
cent, deducting interest, taxes, rentals,
&c. Of $1,099000; the net income was
100000. Mr.. Gould was talking very
bullish yesterday. and said stocks had
seen their lowest this year.
Russell Sage continues very conserva-
tive bull, and don't believe in any boom.
Bond dealers say the strongest demand
is for municipal bonds of New York. Bos-
ton, and other cities, and not so much
for railroad bonds.
A prominent director In West Shore
said last evening that the only basis for
peace which his company would consider
from tho New York Central company
would be 40 per cent, of all competitive
business in this state, and he did not be-
lieve the New York Central would agree
to pool on this basis.
The friends of the Union Pacific rail
road are jubilant over the secretarys re-
port upon this property. 1t is regarded
as very conservative and encouraging for
the stock and bondholders. The text of
the bill shows that il is proposed to ex-
to the government from thirteen to sixty
years, the payment to be made In 100
semi-annual parts.
A Chicago dispatch says tho heads of
departments Of the Michigan Central
Railroad company have been ordered to
reduce its working force 10 per cent. The
Tribune this morning says: "The season
of lake navigation has been very disas-
trous. Vessels have barely paid expenses.
The destruction to property amounts to
$1,000, ,000."
There is disposition on the board to
whoop up low priced stocks. The traders
have been bidding up Kansas and Texas
and Texas Pacific. Louisville and Nash
Vile were run up by Kirkner and others
on Wheeler, who had an order to buy 500
shares.
1t is reported in the street that VAN
derbilt has been buying up West Shore
receivers certificates at a discount.
A Boston dispatch says the wool sales
for the last week were the third largest
for the year being 4,1o9,99O pounds
against 1,954,9OO pounds the previous
week. The outlook in wool trade is
Frightening and demand better.
President Potts, of the Park bank, the
correspondents Of the old Middletown
National bank, of Middletown, reported
failed, says: The failure was brought
about through speculation in Chicago. l
bolieve our institution Is not affected
thereby as they only had deposit with
US of about $40, 900 to $4,000. The banks
capital was 100000. with a surplus OF
$4,000.
Jay Gould. Hopkins, and others held
an informal conference at tho Wabash
offices for the settlement of the question
Of reorganizing the company but moth
Ing uennlte was done.
There was good demand for Lake Shore
to borrow, but other stocks were plentiful.
Tho market opened at IL o'clock and
showed feverish and general declines.
New York Central leading at 4 lower,
Lake Shore, I, and others /. The Gran :
gers were most active and under large of
ferings by the room traders, prices slowly
dropped for Northwest and st. Paul. and
4 for Union Pacific. The Vanderblts
were also weak, and tho market seemed
to lack support until after the first hour.
Then the bulls rallied and stocks recov-
cred till at l o'clock the general list was
shade above the opening figures, but
trading grew very dull, and after 2l5
p. m. deliveries slowly sagged off ! per
cent. Lake Shore was tho weakest.
Erie seconds advanced to so, and reacted
to 5Si on heavy purchases for London ac-
count. Other bonds were inactive and
without material change. The tone OF
the market at tho declines, especially for
the coal stocks and the Pacific roads,
Excepting favorable Washington news
regarding Central Pacific and Union
Pacific legislation there was nothing new
to affect the stock trading to-day. The
severe rain storm interlered somewhat
with dealings. Money hal.
Quotations Of Fridays Stock Sales.
The following have been furnished by Bate.
man q Co., bankers l1ll street, being tho
most active stocks in the New York exchange:
oD0. Hf0h. L1lv. CII. SaLei.
New York Central. s9ta s0l sS7s ss7s -,......
Canada soutnSrn"'. S2 Ssla siE IS ".'vo'
Chicago y N. W...". 02ls 02l9 Ola Ola .,..,....