National Republican., 1884-08-23
THE MARKETS.

Union Pacific, i'm which iOthr
Stocks sParticipated-sIight Reaction
In the Final Dealings.
NEW York, Aug. 22.-The stock mar
ket opened lower to-day on reports thu,
passenger rates botweon Chicago aud
New York were being cut. Tho declin,
in prices ranged from TO per cent. IT.
a comparatively short timo there was Il
marked change for tho better in tho tom
per of speculation, brought about by
renewal OF the upward movement in
Union Pacific. Tho price advanced from
5is TO 57t. The immediate cause Of the
rise to-day was an announcement, that
tho extension Of the Oregon Railroad and
Navigation company's road was com.
pleted to Baker City, or within forty
miles of junction with the Oregon
Shore line, and also that negotiations
were progressing In Amsterdam for the
sale Of some Of tho surplus bonds in
cluded In tho assets Of tho company.
IT Is claimed that IL these
negotiations are concluded, tho float.
ing debt will be liquidatod, and tho COM
pany be placed in u position to resume
dividends. Western Union rose IL to
GOT, Canada Southern II to 39s, North
western I to 1864, st. Paul 4 to $50,
IInckawauna 1 to 11i3, Louisville and
Nashville to SO, Lake Shore TO sol,
Pacific Mail TO 52s, and Texas Pacific
to 15Y. In tho afternoon the market was
lower except for Union Pacific aud West
ern Union, which continued strong and
IN demand. After 2:30 p. m. tho entire
list roso in sympathy, but in the final
dealings there was slight reaction.
The leading shares still command
premium for use.
have realized on their holdings to any
considerable extent, and rely upon out
side buying TO enable them to SELL
IL is understood that IL may be neces-
sary 10 mark up prices considerably to
induce tho public to como In, but the
pools find no difficulty in doing this, as
there is practically no opposition on tho
part of the old bear party.
Tho money market shows signs Of
hardening although there has not been
my great demand as yet from the west
1t is understood that Union Pacific will
DO the bull card and tho leader of the
market.
Victor Newcomb has been large buyer
of Union Pacific, and the Gould people
say that there will be larger and more
confident buying Of this stock after it
passes 75. They argue that tho corn
crop is already so far advanced, and being
two to three weeks earlier than last year,
IL will be out of danger from frost by
Sept. 1.
Brandon declares he secs no reason
why the market should not advance 10 to
15 points.
Brokers say that the street is becoming
moro bullish, but very cautious.
Saratoga and Chicago bought stocks
yesterday, and tho noticeable strength in
Rock Island is regarded as indicative of
peace among the lines in tho northwest.
There are strong intimntions of further
advance in Manhattan consolidated stock
soon. The bond dealers look for further
advance, and prominent Saratoga house
bought 100000 of these bonds yesterday.
The Gould people say Kansas and Texas
is all right for an advance but tbcy are
not bullish ON the Vanderbilts, which
they say break easier than any other
stocks. These stocks arc constantly
weakened by tho cutting of rates by the
Grand Trunk and West Shore roads.
Erie is booked for q moderate advance
to-day on Kings election.
A Chicago special says: Commissioner
Fink has consented that the eastbound
pool difference can be evened up on
grain and provisions US far rs possible, in
place of evening up on freight of the
same kind. Chicago and Grand Trunk
road brought in twentY-ono carloads Of
European emigrants between Aug. II
and 20.
The United Telegraph company have
ordered reduction from New York t.
Chicago, st. Louis, Cleveland, Toledo
Pittsburg, and Buffalo-20 words for q
Cents--taking effect to-day.
The advance in sterling exchange thi
morning was caused by scarcity of com
mercial bills and the fact that London il
selling stocks.
The pool in Pullman promised to sent
the stock to 125 before the end of Septem
Der.
1t is stated by people identified witt
Union Pacific that negotiations are IL
satisfactory progress with tho Chicago
Burlington and Quincy, whereby con
flicting interests will DO harmonized.
Quotations Of Fridays Stock Sales.
The efollowlng have been furnished by Bate
man h Co., bankers, 14ll street, being the
most active stocks in the New York exchanges