National Republican. (Washington City (D.C.)) 1872-1888, 1884-01-29
THE MARKETS.
A Very Hard and Unexpected Squeeze in
Ex-Villards.
The Bears Punished severely-stocls Gem
orally Strong.
Spkcinl Dispaleh.

GDeCtW DtsputcH'
New YORK, Jan. 2s.-The feature Of to.
days market has been the squeeze in short
interest of Northern Pacific stocks and
Oregon Navigation. The other ox-Villard
stocks advanced sharply in sympathy. The
general market was comparatively steady,
although the list advanced ! to 5 per cent.
on covering and bidding up. st. Paul,
Union Pacific, and Louisville and Nashville
we're advanced by the cliques. The princi-
pal trading was in Northern Pacific pre-
terred Oregon Transcontinental, Louisville
and Nashville, and Lackawanna. Active
stocks were in sharp demand. In bonds
prices were bid up, West Shores leading
About noon slight reaction set in, but
within q half hour there was further
advance. At 2:15 about 1900 Northern Pa
cifc preferred was bought in under tho rule.
some as high as 50A At closing the market
was strong, although slightly off from highest
prices
Vice President Cakes of the Northern Pa
cifc railroad, confirmed tho report current
Saturday afternoon that the Oregon Trans
continental company had bridged over its
troubles. He further said that syndicate,
consisting of Gould, Sage, Field, Drexel &;
Morgan, and other Philadelphiansh had bought
from the Oregon Transcon tinental 10000
10000 preferred at 80, and about 1850 Ore
gon railroad at TO- Gould admitted yester-
day that this was true, and he sent in his
check for his share Sage would not talk
about the transaction said 1t was private
business. The Windsor bears figure that
Oregon Unconstitutional is worth about 10
on this basis, and that the syndicate sold all
the stock they could get off Saturday above
Is.
Cammack & WoorishoefTor say that but for
this negotiation, which was made simply to
save tho general market, there would have
been slump, because the Oregon Transcon-
tinental would have gone to protest. Endi-
colt is no fnancier or he would not have
permitted matters to get into such climax
and throw away securities at such prices.
Vanderbilt tells his friends that the Lake
Shore is doing much better that il did a year
ago Vanderbilt Informed Gould fortnight
ago that it was his intention to support his
stocks against raids, and Gould with this as
surance engineered tho last rally in the
market
The market opened with an immense
crowd in Northern Pacific preferred, and
Oregon Transcontinental buying thought to
be covering. Prince & Whiteley and Taintor
& Holt were considerable buyers; John S.
James sold. The advance in Northern Pa
cifc stimulated covering in general market.
Stocks were plentiful for loans.
Conservative brokers think there has been
good selling on the rally.
Oregon Navigation lent up to 10 per cent
per day for use. Many shorts were COVERED
by frightened bears.
A Washington special says that members of
= the house committee on Pacific railroads say
the bill increasing the amount to be paid into
the sinking fund by the Union Pacific and
Central Pacific railroads from % to 80 per
cent. will be favorably reported.
The advance in Northern Pacific preferred
is universally credited to Gould.
1t is reported that the Bankers and Mer-
chants Telegraph company has purchased
the West Shore and Nickel Plate railroads
telegraph lines, new Chicago connection.
Sales to-day aggregated 4S1,3l1 shares, IN
Guiding Central Pacific, $500; Delaware. Lack
awanna and Western, 10000; Denver and
Rio Grande; 1000; Erie, 1000; Kansas and
Texas, 5000; Lake Shore 10000; Louisville
and Nashville, 23,700; Missouri Pacific, $780,
Northwestern, 1920; New Jersey Central,
1900; Northern Pacific, 1890; Pacific Mail
$500; Reading, 1900; st. Paul, $500; Texas
Pacific, $500; Union Pacific, $500; Western
Union, 5000; Oregon Navigation, $1,000
Northern Pacific preferred, $4,000; Oregon
Transcontinental, $4,000; Canadian Pacific
10000.
STOCKS
The following are the opening, highest
lowest, and closing prices of the principal
stocks for the day, rs corrected by special wire
reports received by Bateman & Co., bankers,
No. 1411 L street northwest