National Republican. (Washington City (D.C.)) 1872-1888, 1884-10-20
TIE MARK ETs.
Review Of the Week-Prospects for Lower
Prices In Wall strcot-Chieago and Bslti.
more prIeea

more Prices.
NEW YORK, Oct io.-Transactions In the
stock market were light In the early part OF
the week, but later there has boon more ac.
tlvity with conspicuous woakness on Mon.
day and Tuesday strong tone was manifested,
which was mostly the result of manipulation
of prices In anticipation of the result Of the
Ohio election. Thus, the good effects sup.
posed to arise from that election were only
realized before II occurred by the discount
ing process, and on Wednesday, although the
opening was strong, prices gave way sharply,
aud have since been weak and declining.
The coal shares have bccn II conspicuous
feature during the week, especially Lacka-
wanna, which has been very active, aud tho
price has iluctuated widely. The coal business
Is still In a procarious condition, though the
coal combination has ordered suspension OF
work for the first week In November aud the
first and fourth weeks In December, and this
outlook, coupled with the increasing compica-
tons In Readings financial affairs, causes
great weakness In the latter stock and In
Jersey Central.
The trouble between the Pennsylvania and
Baltimore and Ohio was still further involved
| this week by the withdrawal OF tho latter from
| all passenger pools, the establishment of II In.
dependent passenger route in connection with
| West Shore between New York and Chicago
anu the inevitable cutting of rates on passenger
business,
The Vanderbilt stocks including Northwest,
| have been active and weak. The Northwest
road shows decreasing earnings, and the trou-
| Die among the eastern trunk roads Is telling
| seriously on tho business and earnings of the
| Vanderbilt lines.
Friday and Saturday there was n further
large decline in prices. attributed mainly to
| the open reduction In passenger rates by the
| West shore company which touched all tho
trunk Lines, and through thcm wcakens the
| whole list.
In the railroad bond market the better class
| 1nNpAtmRmt hnYlu n A
hrlnly held, with light business.
III the more speculative classes business has
been more active, and prices have huctuatcd
Ill some cases quite widely.
| IN inc government bond market business
has been very light, but prices have beer
strong and higher
Sterling exchange has been very dull.
Cotton speculation during the past week hal
been oilly moderately active and prices show
considerable decline. The bureau report
when nnnly1ed, led 10 some augmentation o
crop estimates Besides this the weather ha'
been generally favorable TO the work of gath
restriction Of consumption by New Englan'
spinncrs. These facts greatly weakened con
idence in the speculation for the rise, so thn
reduction
large number ofbrokors were at the Wind
sor hotel Friday evening. Most of the promi
noni leaders were on hand and the fcelin
seemed quite benTish, with strong indication
| = -,
y few heads of prominent commission house
thought that the decline might come TO u hal
during the day, because the liquidation ha
been quite extensive, aud that the short II
forest had increased heavily, but The malorit
of the dealers said they were unwilling 10 bu
as long as Vanderbilt wont buy his own stock
at any price, and II Is believed that j
Shore and New York Central lie d.
MED this statement last night, hl
Enos u Co; have been large. general scllc
lately and have given out big selling orde
from their uptown Office, and Y is believed II
bulk Of the sales were for Nandcrbilts n
count besides he was talking very bearlsh
a Tribune reporter last night, and predictt
- that further liquidation was unavoidable. u
said 1t was not true that the Lake Shore cor
pany would make now bond issue, MS 1t hu
plenty Of old'bonds and had no need of none
Mr.. Morgan said he thought Gould had bee
q much larger seller of Lake Shore and Ne
York Central than anybody else, and admittt
that he had boon asloundod ut the Nandorbi
breaks, especially In Lake Shore. Gould
brokers were Mt the same time large buyers
Western Union, Missouri Pacific, and unic
Pacific, and they bought Union Pacific In "
share lots, every Il down.
It was thought by people usually the he
informed that II was Gould's intention TO d
press the Nanderhilts to figures which wi
force Vanderbilt to come to their rescue.
a gentleman asked Gould last night IL I
thought Vanderbilt had been throwing ov
stocks, and the latter said that, US he did II
ktep NnlluHl DOOks, uc cOuluht hly po
lively
The bears say that the big 10000 share bloc
OF Northwest and Lake shore sold ycsterd
by Heath and james Wilson were all 10
stocks
WoerishofIer said that tho new cheap RAJ
of the West Shore mean n constant war ol
passenger rates fora year, and he will guaranl
- them to be good for that time.
The only bull IN sight was Russell Sage, "
told his friends that he thought Lake She
and New York Central stocks were very che
at present.
Commissioner Fink has issued q report
the meeting of the Joint executive commit
s. held ut his Office Oct 10, in which II Is stat
II that II was the view of the meeting that
l., advance In cattle and dressed beef rates g
be maintained until the question of relati
rates on the articles is decided by arbitrat'
and the Delaware, Lnckawanna and Wcstc
railroad has joined the pool II was agro
that the I'D be fixed for hearing before I
rs arbitrator, and that the committee shol
st meet that board Oct. n.
" Chicago has been selling the granger stoc
. extensively and some Lake Shore, but I
~ Dclaw0ry, Lackawnnnq and Western "
mainly short account by the exchange pll
German party who had q story In circulate
that Gould had sold out on White, but tn
was nothing In 1t.
The market was weaker. Union Pacific 81
porting orders appears 10 have been Wi
N drawn.
~ The Pacific Mail statement for the quar-
I'd ending Aug, ~, lSl Is: Gross earnings, 81 .,
III liz; expenses, 2ruG0; net, Sil3,017, cash
N hand, Sl,27OUOO.
~