National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-27
THE MARKETS.
A Pressure to Sell Dividend-Paying Stocks
al the Opening.
There Is an Active Rally, However, and
n Strong Closing.

NEW YORK, May 2G.--The wook at the
stock exchange opened with decided pressure
to sell the dividend paying stocks, while the
non-dividend payers were comparatively
neglected. Before tho first call Missouri
Pacific, Western Union, and Union Pacific
developed strength, which checked tho down
ward movement. Missouri Pacific roso
1 to 67s, Western Union Z TO 54t, aud
Union Pacific IA to 40. The other active
shares rallied to II per eeut. Subse-
quently Lackawanna became very weak and
dropped TO 001 This break had but little
effect on the general list, which declined only
to 4 per cent. in sympathy. At 11;3O :. m.
the market was all better again under the
leadership of Lackawanna. Brokers most
prominent in depressing this stock in the
early dealings were afterwsrd conspicuous
buyers. The stock rose %, aud tho other ac-
tive shares moved up to % per cent.
The market continued active and strong
until after l p. M, when there was more
quiet feeling and u reaction of to . per cent.
In prices. After delivery hour there was a
rush to cover, which resulted in rise In
prices OF to 81 per cent as compared with
the lowest point of the day. Tho steady adj
vance brought in orders for tho long account.
and round amounts Of stocks wero taken at
advancing figures 1t was reported in the
board that $5,000000 government bonds had
derbilt. The street accepted this as meaning
that the Vanderbilt shares would secure
better support in the future.
The market closed strong ut the best prices
of the day. Delaware and Hudson rose from
SOL to % OK dividend. The market con-
tinues in heavy, oversold condition, and
to-day to per cent. was paid for the use of
Chicago, Burlington and Quincy to for
Jersey Central, for Lackawanna, and 1-6i
for St. Paul "seller COS were put out in
Lackawanna at 500 to s93 to 91f to OIL,
when the prices in the regular way
in Illinois Central at lie to 1874, whom tho
regular price was ZIG; in Jersey Central ut
4S, when the regular price was 52t, and in
New York Central at 103 to 1881 to 1904,
when the regular price was 1867 to 1913 to
1074 to 1851. Pullman Palace sold at w,
''ssller 80" and 95 regular. There was a
difference of to per cont between seller
3" and regular in Lackawanpa and New
York Central, and n difference of to cash
and regular in Reading and Lake Shore. A
few hundred shares of LRckawanna and
Quincy were closed out under the rule,
for cash late in tho day.
Railway bonds were weak in the early
dealings. but closed hrmer
The Boston Transcript says the transfer
books of the Union Pacific gained 1000 shares
from New York on Friday, making gain,
since April 2, of 10,s01 shares There are now
267,3744 shares upon the Boston books, the
largest ever Held there
Investors certificates were issued during
the past week at the rate of 100 per day. II
is said by Union Pacific officers that New
England owns nearly half tho stock repre-
scented on the New York books
The Chicago Tribune says: "Tho Northwest
Traffic association is still in hot water and
unable to get out. The troubles regarding
competition by St. Paul and Omaha's Wash
burn line are no nearer settlement Moth
InU HAL Tn CTR hn tU arig
ing from the competition of the Illinois
Central and the Diamond Joe line Of Upper
Mississippi steamers. This is almost as seri
Gus as the trouble with the Lake Superior
company, and tho Milwaukee, st. Paul ant
Northwestern are meeting all rates made by
the contestng lines"
1t is said that efforts to test Northern Pa
cifo in London has been abandoned on ao
count of the general distrust. John II. Dillol
is Offering and selling Rock Island. Special
lists are bidding for Pacific Mail. Kepler anS
Sanction and Bruins sold Jersey. Hamber
bought. A. III. Brown reports fractional or
ders to buy. The Gould stocks are steady
and firm. Van Hoffman and other foreigl
houses report "our orders by cable are Il
purchase stocks on the Declines
General Manager Hoxie telegraphs ia.
Gould that Ithe ..Transcontinental agreemen
has been remodeled, again renewed, and GU
road and the Union Pacific rejoined the asso
citation rates will DO maintained.
People who have been identified with Den
yer, speaking of the rumOred funding of the
, July coupons, say: Even If the coupons ar,
not paid there is no likelihood of foreclos
ures, as the clause in the mortgage provide
that the road may be operated after default
before foreclosure can be effected.
President Trowbridge, of the Second Ma
tional bank, says that certain checks drawn
by John Emo as president of the bank, anC
paid to Gof & Randall and others, are in hi
possession and efforts will be made to 60
back the money lost by Emo.
Pittsburg dispatch says the Penn bank
has again suspended.
Mr.. w. II. Vanderbilt has just transferred
$5,0o0,000 in government bonds in the nam
of William X. Vanderbilt. Although nothn
is said as to tho object, it is inferred that til
transaction is to protect and strengthen tn
Vanderbilt interest in the market.
Sales of stocks to-day aggregated 434 0G
shares, including the following: Delaware
Laekawanna and Western, $4,000; Erie
5,200; Lake Shore, 1900; Louisville an
Nashville, 800; Missouri Pacific, 293OC
Northwestern, 23,40O; New York Central
13,555; New York Central, 1920; Reading
1,4O0; St. Paul, 44,345; Texas Pacific, 4 ,0O(
Union Pacific, 1890; Western Union
$4,000; Chicago Burlington and Quincy
7,100 Northern Pacific preferred, 2035t
Oregon Transcontnental, 1850; and Illinoi
Central, 1000.
Treasury balances Coin, SIZES, 2l2, 05s; cur
rency, $10,572,97S.
Following are opening, highest, lowest, AM
closing prices OF PRINCIPAL stocks, corrected bS
special wire reports received by Bateman 4 Co.
bankers, No. ll4l y street northwest: