National Republican. (Washington City (D.C.)) 1872-1888, 1884-03-25
THE MARKETS.
A Temporary Sag in the Great Line of
Stocks.
The Tone Firm Nevertheless and Buyers
Plentiful.


cDtClu ItSDHOT
NEW YORK, March 24.--The market this
morning pivoted on Eric which pressed for
sale by traders and foreign houses. Tho
whole list sympathized with decline in this
stock and tho unsettled condition of affairs
in the Trunk line pools. Western Union
and Pullman were strong. In the afternoon
the market was dull and weak, and the most
active stocks wore Erie, Union Pacific, ST.
Paul, Lake Shore, and Lackawanna. Erie
bonds were sold off by traders.
The market closed weak and at about tho
lowest prices of the day.
IL is reported that syndicate paid 80 for
r the $5,000000 block of Canada Southern 2s.
The hotel discussions yesterday were bear
ish. Some Of the Gould brokers expected
lower prices to-day and Tuesday, with rally
the last of the week. Bears said that Wander
bilt considered the trunk line situation quito
serious and had BOLD some stocks. His brokers
thought tho market likely to be ragged for q
short time, but expected to sec prices 10 per
cent. higher before June 1.
The bull crowd of Twenty-third street ad-
wise against purchases for @ couple of days;
also against selling short or realizing, as
matters wore likely to be adjusted in hurry.
Bears on Erie say the road Is likely to go
into receivers hands. This is ridiculed by
the friends Of the company.
Chicago special says 1000 cars we're con-
tracted for to carry wheat, corn, and oats on
Saturday, and O large number are now loaded.
This is the largest shipping movement of
Chicago in long time, and shows that grain
will 60 forward on rate reduction.
1t is stated on good authority that the de-
mand on the Pennsylvania railroad for re-
duction Of trunk-line rates on oast.bound
freight was made on account of cuts by the
Baltimore and Ohio road.
Erie has been q feature of the market, for
eign houses being the largest sellers of this
atn alr .atI la,, E~,n
Counselman & Co.'s Chicago special says
"Mild weather and improved crop reports too
much for wheat. Bulges will be selling spots
as long as these conditions prevail. Large
lines Of May and Juno corn sold. We see
nothing on which to buy provisions"
The Boston Transcript says: THE So, 900, 600
Oregon Navigation debenturo bonds were all
taken at 1880 o'clock Saturday"
Chas. Head & Co. say there is talk of a con-
test for control of Oregon Transcontinenta tai
at the June election.
Philadelphia dispatches estimate Readings
deficit for February ut about 100000.
The issue of $50, 900 900 five per cent. termi-
nal and betterment bonds of the n. Y. Central
r. Z. Co. is understood to DO practically re-
solved upon by executive committee and for
NAL declaration of fact at regular meeting of
directors is understood be made soon. Drexel
Morgan & Co., will be at the head ofsyndicate
which will offer them to the public The pro.
Soouo Nhi w usou w pd1 iOE low toTmluBl
facilities at various points and for road equip.
ments required.
The report circulated this morning that
the Pacific Mail company had bonded its new
steamers is utterly unfounded. The COM
pany's officials say the earnings are 40 per
cent. larger than last year, and not a dollar
of floating debt.
An official of the Pennsylvania company
says: I'VE do not contemplate reduction of
wages, and the report of it Is le"
Sales of stocks to-day aggregated 1884, 59l
shares, including Central Pacific, 4,11O; Del.
aware, Lackawanns and Western, 81, 42O
Erie. $4,000; Lake Shore, 10000; Missouri Pa.
cifc, $500; Northwestern, $500; New York
Central, Il, $780, Pacific Mail, 1850; Reading
900; St. Paul, 10000; Texas Pacific, 5000
Union Pacific, $4,000 Western Union, 1900
Northern Pacific preferred, 1900; Oregon
Transcontinental, 800; ST. Paul, ex divi
dend, 1880
STOCKS.
Following are opening and closing prices of
principal stocks, as corrected by special wire
reports received by Bateman & Co., bankers,
No. 14ll II street northwest