National Republican., 1884-11-01
THE MARKETS.
How tho Political Outlook Affects tho
Prices of Stocks-Trading in Baiti-

How tho Political Outlook Affects tho
Prices of stooIss-Trading in Baiti-
more and Chicago.
New YORK, Oct. lit was argued and
believed last evening by many large
bears, who are regarded as shrewd politi-.
cal observers, that the advance In the
stock market yesterday was based mainly
upon the large private subscription OF
campaign funds by capitalists at the
Blaine dinner, which 1t was believed by
I the republicans, would go very far toward
jnsuiinH their success. Cammack de-
clared that all this money was to buy
votes with and, as tho democrats were
poor, they had subscribed very little
toward the election.
The only large amount which has been
placed to the credit of tho democratic
national committee was about S1O0, 900,
which came from Mr.. Vanderbilt. He Is
strong supporter OF Cleveland, ana mas
been very outspoken In Cleveland's favor
since the Ohio election. The feeling on
the stock market was favorable for higher
prices to-day. A considerable portion of
yesterdays advance was attributed to
covering of shorts. The feeling continues
strong on the grangers and Western Union,
and IL is said Gould's people bought both
very freely yesterday, and predicted
higher prices to-day. The bears say that
the whole movement of yesterday was
simply q raid by Mr.. Connor's brokers ON
the shorts, aud he frightened many of
them. The Twenty-third street bear
party and their commission houses in tho
street predicted break Of 10 per cent. If
Blaine is elected. claiming that this will
extinguish the short interest, and the
,narhat ,yi1l ha davniI nf thait nnnrt
II was reported last night that the
palace car transportation lines would bo
involved in the trunk line war, and re-
ducod rates follow.
Morgan said he expected higher mar
ket to-day, especially on Delaware, Lack
awanna and Western.
The foreign bankers say cotton bills are
Offering here very low and freely. This
favors an importation of gold.
II Is rumored that tho stockholders of
New York Central are going to protest
against rate cutting, and ask for change
of policy. Strong points to buy Western
Union are distributed.
The New York Central has cut rates to
Chicago to SIS. The scapers sell the
same tickets ON tho same road at $14, and
declare the war will result In S5 rate.
West Shore and Baltimore aud Ohio
have posted q reduction Of first-class rate
from New York to Chicago to $3.50, and
Erie aud Delaware. Lackswanna and
Western are expected to follow soon. II
Is expected there will be lively cutting
before tomorrow night.
The traders have been hammerinl
stocks on this state Of affairs.
The raid on Illinois Central thii
afternoon has been on reports that tn,
dividends will be reduced to per cent.
The attack on Pullman stock Is OF
xumors of a Palace Car war.
The market opened fairly active, and
with general advance of about I, bu
the bears soon began liammering New
York Central and Lake Shore on reported
serious cutting of passenger rates, ant
these stocks declined and respectively
in the first hour. The other stocks sym
pathizing to tho extent of }. A slight re
action followed up to noon, when price
showed about below opening rates, ex
cept for the Vanderbilts, which were
lower.
In the afternoon Illinois Central ant
Pullman palace car were raided on report
of reduced dividends. A palace car wa
of rates, and the former declined pc
cent. aud Pullman g, but both recovered
] per cent before the closing. The trad
ing showed declines oil around, and tn
closing prices were the lowest of the day
The tone was bearish over the RAILROAD
difficulties In the trunk lines.
Quotations Of Fridays Stock Sales.