National Republican., 1884-06-14
THE MARKETS.
An Active and BuOyant Opening, With a
General Improvement in Prices.
A slight Reaction Later, hut Firm In the
Final Dealings.

NEW YORK, June 13.--Tho stock market
was active and buoyant during tho greater
part Of tho day, with general Improvement
in prices for both the leading and inactive
stocks. With tho exception of q fractional
reaction almost Immediately after the open
ing thorc was an uninterrupted advance
until about II n. m. with Missouri Pacific,
Lackawanna, and Western Union as the
leading features. Missuri Pacific rose II per
cent. to 90, Lackawanna IL to 0Sl, and West.
ern Union to GIL. The improvement in
the other active stocks was less marked.
subsequently tho bears made sharp drive
on Union Pacific. 1t was freely reported that
the company's floating debt amounted to
$11,000000. The stock broke from 30 to 81;
Missouri Pacific fell off a to S0s; Lackawanna,
to 0SA, Northwestern, to 0i2; st. Paul, to
69l; Lake Shore, to S3A; New York Central,
to 1913, and Western Union, TO 60A. At
these figures there wero heavy purchases for
both accounts under which the best prices Of
tho day were reached. The market during
the afternoon was buoyant.
Near the close thero was = reaction OF to
per cent, due 10 realiEah1ni, but in the
final dealings the market W.T., nfm again.
The fact that tho Missouri Pacific continued
to show remarkable strength frightened tho
bears, more particularly as IL was freely
reported that Western Union would next bo
taken in hand by the movers of Missouri
Pacific and advanced in order to mako the
shorts cover. Tho upward movement in the
general list was stimulated by the action of
the representatives of tho trunk lines, who,
at n meeting to-day, determined to advance
tho rates on grain from Chicago to New York
TO 25 cents, the new order to tako effect ten
days hence This notice Is In accordance
with previous agreement by the trunk lines.
Tho advance in east bound rates was regarded
a,,;ln AhaN fhn Of ghn ri M
roads were harmonious, and accordingly i'm
parted q moro confident feeling among
operators Another reason for the strength
of the market was the statement by MIR. L. l..
Ames, of the Union Pacific, that tho floating
debt of the company, which has been reported
for several days at S11 100000, was in reality
only $350O,00O. if allowance be made for
offsets, such as cash on hand, bills and ac-
counts, securities other than investment, and
materials on hand.
The short interest continues large, but
leading rates, as a rule, were slightly lower.
shares including the following: Erie,
1000; Lake Shore. 1890; Louisville
and Nashville $500; Missouri Pacific, 1904;
Northwestern. 1900; New York Central
1886; Pacific Mail, LOO; Reading, 6,100 St.
Paul, 36,206; Union Pacific, s2,265; Western
Union, 23,205 Rochester and Pittsburg, 1000.
Treasury bnlances-Coin, Sl26, ,607, ,735; cur
rency, $9,727, ,SS3.
Conservative brokers decline TO put out
shorts for customers in Missouri Pacific, fear
ing sharp squeeze.
The proposed trunk line advance in East
bound freight is not yet formally announced.
The weakness in tho bond market Is used by
bears az an argument for lower prices.
Parties identified with tho New York
Central authorize Herman TO declare that
Commissioner Fink has ordered an advance
in east bound rates to 25 cents, taking effect
in ten days.
Boston dispatch says the sinking funds of
the Union Pacific railroad amounted Jan. /,
1884, to $1791,95S, and tho sinking fund
payments in 1883 were $4,000, of which all
but 100000 was not invested in the bonds of
which the sinking funds were established,
but the bonds were cancelled.
The 100000 sinking fund of last year was
for the purchase of bridge bonds, and not
controlled by the Union Pacific company.
Northwestern railroad earnings for the first
week in June shows a decrease of 5000.
S. V. White and Morgan are buying Della
ware Lackawanna and Western and Union
Pacific
The Germans and Johnes party are selling
the oranges.
Tho Commercial and Financial Chronicle re-
ports gross earnings for ffty-four roads in
May show an increase of $780, 1850 and in
creased mileage, 3,7Sl net increase from Jan.
1 to May 81 is $4,000, 131.
Tho American Bell Telephone company
declared quarterly divident of 50 per share,
payable July 10.
The Germans sold some at the opening but
later on grew bullish. The cotton position is
30 very strong that IL is impossible to get
short interest at present.
There are large buying orders in our market
to-day from southern ports.
STOCKS.
Following aro opening, highest, lowest. and
closing prices OF principal stocks. corrected by
special wire reports received by Bateman q Co,
bankers. No. l14l + street northwest: