National Republican. (Washington City (D.C.)) 1872-1888, 1884-12-04
srock AID onAIN MARKETS.
Lots OF Hull Talk at the windsor and In the
strcet-A Decline Followed by Rally
Sntllemrnt Of the RniIrond Wnr.


NEW YORK, Dec. 3.--The bears outnum.
borcd The bulls Mt the Windsor last night. The
general impression was that the stock market
would be lower this morning with another adj
vance this afternoon OF tomorrow.
Yesterdays reaction surprised nobody "a II
was generally expected The best traders say
the decline won't amount to much aud an
other bull market Is sure to follow, while
probably several operations OF this kind Will
succeed on the cheap money basis before New
Years day.
only the brokers commissions. tnmmack
said one secret of the late rise was that the
bears doubted IN their shorts aud went long
for even. lie believed Vanderbilt sold 1000
shares OF his Lake Shore and some Northwest,
and these were the only stocks no could sell.
Horny Smith said he had not changed his
position, and he was still bear on the stock
market. WoerlshoiIer was bearish on Union
Pacific, and admitted that he sold n batch OF
81. Paul and one Of Delaware, Lackaw0nna
and western.
A number Of trunk limo presidents, lnclud
ing Mccullough, Lcdyard, and Others arrived Ut
the Windsor hotel last evening, aud generally
acknowledged shat east bound freight rates
from Chicago were about as much demoralikcd
az they possibly could be-. They met at 10
o'clock this morning at the New YORK Tribune
building to,Sgn an agreement made by Fink In
Chicago this week, by which east bound rates
viii be restored Immediately.
\ director of the Northwestern said last
evening that II was probable the granger roads
would sertie all troubles before saturday night.
II is expected that the 81. Paul earnings for
the fourth week in November VIII show loss
Of 100000, ms there was one day less this year.
Mr.. Gould told his friends yesterday after
noon not to throw away their Union Pacific
stock on the slight reactions because IL Is not
going down much, and London has beon buy
ing II literally the past wee..
The Western Union, Gould says, owns 1000
| 900 of Bell telephone stock, now worth 26j, aud
| IL gets 20 per cent of all tho profits.
Gould believes that the biggest boom ever
seen in Wall street is coming this winter and
spring.
! sage was in high spirits last night, and pre-
| dicted the biggest bull market ever seen soon.
| Tho demand for bonds Of the Atlantic and
| Pacific company ilrsts and Incomes continues,
and the. seligmaus say they are good for
| points advance.
The brokers in American pig iron report the
demand slow and cautious, but some large
| orders have been given for future delivery on
! the quiet. Steel rails same as last week; more
inquiry, but buyers hesitate.
Passenger rates were firm ut yesterdays
rates, $500 TO Chicago by West Shore, Erie,
| trars nominal rate remains unchanged the
brokers understand they run no risks In meet
| Ing cuts nude by other roads.
| IL Is said In the stock board that the new
economies In the Western Union management,
causing n large saving In expenses, have In
duced new buying, aud parties very close 10
Cammack have been buring the stock.
j. W. Midgcley telegraphs from Chicago tina,
the commission of tho southwest ronds have
unanimously reported plan for the stoppage
OF the rate war.
st. Paul earnings for the fourth week'now de-
creased SS6,I9S and for the month, sI9OOD
| The largest buyers of st. Paul this afternoon
were causing batch of 5000 shares put ont in
the room this morning.
Boston special to Charles Head x Co.. says
American bell Telephone company just dc.
elared an extra dividend OF per cent. Stock
2671@ bid.
< Chicago special says an agreement has
been reached by the Western roads providing
for restoration rate for two years. Detail:
soon.
The market opened weak, and "a to "a or
New York Central suffering most The tniieri
jumped on 81. Paul, aud offered large block
down. This caused y decline. Other stock:
were only fractionally affected. When 81
Paul broke some of the large shorts bcgar
covering on their sales of yesterday, and The
price soon reacted to the opening figures tn,
active stocks following suit. This was in the
first hours trading. From IL o'clock to moor
stocks were dull and firm.
The mornings sales were 10000 shares. ant
the sales of dividend.paying bonds were es
pecially heavy, at slight advances.
During the afternoon reports from Chicago
that the southwestern roads were in session
and had practically agreed to sign two years
ironclad agreement, made the stock marke
active and buoyant under the lead OF Western
Union and the grangers. Before $40 o'olocl
prices were at the highest of the day. Frac
iional declines followed In the next half hour
but the closing prices showed conslderabl,
strength, and the tone fairly firm. Indication
point to u higher opening tomorrow.
Excepting the western railroad meeting
above mentioned there was no news affecting
prices The rate war between West Shor
md New York Central continues and hn
been reduced to question of endurance.
Bonds were very active. Many gilt-edge
railroad bonds coming out under the inilu
ence of good demand at higher prices. III,
iancles were rather neglected.
! Sterling Exchange was very steady on lin
tied transactions; say to ~. Money wa
irregular, opening at "a, ~, to l and l.
closing att -.
Quotations OF Wednesdays Stock Sales.
The following have been furnished by Bate
man q Co.. bankers, l5ll street. being tn
most active stocks in the New York exchange;
org. Hi1h. Lo,s. C,1. SiLsi
New York Central sg7s 90h oA s0oas .....,.
Michigan Central-''. 5gt2 sees. 49,. So. .s;;,