National Republican., 1884-12-02
Took AND GRAIN MARKETS.
A Strong Feeling In Wall street and
an Advance in Prices--Chiongo and
baltimore Quotations.

iaul ana LackaWnnnn, Ine NOW i"'h
4 Times yarn about tho Readings refusing
ITO restrict tho coal tonnage this month
yNvas generally disbelieved. The main
argument of those traders who believe In
higher prices is that the 42,000,0OO in the
city banks, with tho 60000,00O coming
out for January disbursements, will force
tho idle funds into good stocks, as the
good railroad bonds have been about all
absorbed. Loading houses, latoly bearish,
now say there is surely sharp and i'm
4 proved demand for bonds for invest
ment. Such houses as Vormilyo & Co.,
J.. L. White, Gauledet, the seligmans, and
Drexel & Morgan agree on this point and
say the tendency favors an advance.
Points for st. Paul at S5 and Delaware,
Jackawanna, and Western al 1l6 this
week arc given.
There is said to be much better demand
In Pennsylvania for coal and iron, and
good many industries In various parts of
tho country started up this morning. In
Pennsylvania tho feeling on coal and iron
is decidedly better, and largo iron orders
Rrc coming In.
The Gould people arc said to be doing
little Just now, awaiting the opening OF
congress, the Presidents message &C.,
yet George Gould tells his friends that he
has his full line of stocks, aud a January
Doom Is prODADlO, II " uOn COmo buo
middle of December.
Cammack was very bearsh yesterday
and was reading to Woorishoaor aud
others extracts from Brddstreets report
on iron, which shows the depression
in II.
The bears say New York Centrars an
nual report will be out to-day or to-mor-
row, and will bo less favorable than Lake
Shore.
Shipping merchants report great scar
city Of steamers and vessels at this port
for ocean freights, and new grain charters
cannot be made earlier than Christmas
An upward turn Is proposed in Atlantic
and Pacific irsts and incomes this week,
and incomes are expected to 20 to 1875.
At the opening there were good sustain
ing orders from the cliques, and this
steadies and dulls the trading.
A Washington telegram early In tho
day gave an outline Of the Presidents
message.
The Gould people say tho market is
taking caro- of itself and they are doing
little.
1t is said that the plan most favored for
the settlement of Pacific railroad debt is
that the outstanding government bonds
be taken up and new bonds issued on
longer time, at 3 per cent, tho bonds to
be retired semi-annually. Tho railroads
are to be paid nothing by the government
for service until tho bonds next maturing
are paid.
A Washington special to Kiernan says
"Of the $l7,00O,0O0 in pensions called for
this quarter but $S000.000 have been
charged to November, in order to mako
as favorable debt statement as possible.
Nine millions 60 over TO December"
Amsterdam dispatches say: "The Dutch
banks are passing through crisis. All
business, except tobacco, is suffering. The
sugar trade is worst of all. 1t is not
thought that the delays granted tho Kel-
onates bank will save it from fall, while
even the Commercial bank of Amsterdam
is suspected"
Mr.. Gerard B. Scranton. formerly Sc
nior partner of Scranton & Willard, has
an interest in the firm of Il. X. Willard
& Co., commencing to-day.
1t is stated that the Reading company
has decided to mine coal on full time
during December. and the efforts made by
other coal companies to induce the Read
ing receiver to reconsider his decision
have failed.
Such conservative houses as havo been
advising customers to keep out of mar
ket are now advising moderate purchases
of good dividend paying securities, and
some of these were buying this morning
last week are now long of tho market
The pools in Union Pacific, st. Paul, and
Western Union have been buying stocks
again this morning.
A Chicago special says: "a we'll posted
railroad official says western managers
will agree on q restoration of rates within
forty-eight hours. There is considerable
buying of the grangers on this report"
A Boston special says: The Bell tele
phone was offered at 800 after the board
closed in consequence Of the decision in
its favor in the Drawbaugh suit A Bos'
ton dispatch says the stock was selling al
$50 on the street.
Ii is estimated in the board that about
5000 shares of New York Central shorti
were bought in this morning. Willard
bought 5000. Osborne bought 5000 st
Paul and sold 1000 Union Pacific.
The market opened strong on the Van
derbilts and weak on the grangers, tn,
others with slight advances. Reports o
the West Shore officials being In session
at tho Grand Central depot with New
York Central managers on tho question
of ending the passenger rate war CAUSED
q rush to cover shorts, and New York
Central jumped up about 3 per cent. II
the first hour, Lake Shore l, Northwest
st. Paul 4, with an active and stronI
market for the general list, except for tn,
coalers. which were reported disagreeinl
on tho question of coal production thii
MONTH
Before noon astrong reaction set In, tn,
room traders selling the grangers very
boldly on reported bad financial feeling
in Amsterdam, and liability of thes,
stocks declining Oh pressure to roalize il
the American market; but the LondoI
brokers declared there was no pressure t,
- sell, and prices swung back again. Tn,
sales to noon were III 900 shares.
At o'clock prices were fairly steady
but trading was dull.
At 1:30 the bulls began booming tn,
market under the lead of Western Unior
and Union Pacific. The general lis
quickly responded, and trading grew
feversh, with sharp covering In all tn,
active stocks. Tho good buying kept vi
steadily till tho close, showing the bes
feeling and prices of the day, with firn
tone, especially IN the Gould speoialties
and indications of further advance to
morrow. The little news current to-day
from Washington particularly favored
the Pacific roads on future legislation by
congress.
Quotations of Mondays Stock Sales.
The following have been furnished by Bate
w. man Co., bankers liIl f street. being tht
OD'0.HiGh. Loio Qf1 SdIsi
New York Central 90 92s s9s elys -.,....
Michigan Central. .... .... ..... 5DiS ..,,
- Lake Shore re..",.....,. dfis Boa t,la 6Sa, 23 3O
Canada Southern.,.. ~ ,,,., .,,,, a2 ,,,..
Chicago x N. W".... Blla n2ll DliLl nl7s 81 BJl
O. NJ q O....,.,,,.,... 80 3Ol4 30 3Uia ,,,,,,
Z. NJ. " o. pref........ Of 0lI Ol Ola, -
u. NJ q 81 l. .......... 70l Slil 7Oia SlL 5giU
Z. u. " Q..,,..,o....,. 12l lg2 III l22 .,,,n
Pacific Mail-..,... 81 6ia. bI7, Btl. d iO
Western union,..... 0las GsA u 02Ss n OO
Missourt Pachc.... Qj Dja Oh. pjA. -
Texas Pacfc..,.....,, la1a llls l9I l37 ~
Central Pacific......... IS 81 50 ri -
Erie .r,,,,,,.",,,..,, liAl lI1s liaa IA ,,,,,,
j.. q n ......,...,,,..,.,, 27 975s a7ia 21G -
Union Pacifc.u....... 81 5ias 5jA 5lS isOOl