National Republican., 1884-05-13
THE MARKETS.
Irregular But Fairly Active Trading in Wall
Street.
A Receiver to he Appointed Tor Wabash
Other Gossip nnd News.
FDscfdi DisDdicn.

NEW YORK, May 1.-the week opened
with lower market for stocks on tho an
nouncement that tho Union Pacific had cut
passenger rates from Denver to Chicago. 1t
was also reported that tho Standard Oil com
pany was in trouble, but this statement was
met by prompt denial from the treasurerof
tho company. Prices dropped to per
cent, the latter in Central Pacific, which fell
off to 42l. Tho other weak stocks were
Northwest, st. Paul, Lackawanns, and Union
Pacific Before the first call it was officially
announced from tho Union Pacific Office that
rates between Chicago and Denver were
being strictly maintained. At this time
sharp borrowing of stocks set in, and Jersey
Central lent at to per cent. per diem for
use
Tho denial by the Union Pacific officials,
and tho scarcity of stock for borrowing pur-
poses, lod to heavy purchases to cover short
contracts, aud prices rose to per cent.
This unsettled speculation once more, and
general decline took place. Before l p. IN.
Northwestern rallied to 107s, st. Paul TO 77s,
and Union Pacific to 511. Later on tho
market was irregular, but at p. m. Union
Pacific became very weak, and broke, under
large offerings, to 40.
St. Paul was again freely pressed for sale
and touched 751. Among the other active
shares Central Pacific sold down to All
Northwest to 1908, and Lake Shore to 02s
After delivery hour u better feeling pre-
vailed and number of shorts were bought
in under tho rule" for non delivery. About
1000 shares of Missouri Pacific, Reading,
Lake Shore, Jersey Central, and LaCkawanna
were bought in for this account. There was
difference of 464 per cent. between the
sales regular and cash. Prices rose SOL per
cent, but near the close weaker feeling sot
in and the market left off steady.
Tho Western Union transfer books show
that for tho week ended May 10 investors
bought 10,063 shares and sold 1888 shares,
showing a gain of $3.50 shares for tho week.
Railway bonds were weak.
Sales of stocks to-day aggregated 520,222
shares, including the following: Central Pa
cifc, 6,l25; Delaware, Laclawanna and West
ern, S9,1S5; Erie, 1865 Kansas and Texas,
4,710; Lake Shore, 24,370; Louisville and
Nashville. 10000; Missouri Pacific, 1S,300;
Northwest, $4,000; New jersey Central, 4,100;
New York Central, 1000; Reading $1,000; st.
Paul, $4,000; Texas Pacific, 1000; Union Pa
cific, 1900; Western Union, 1900; Northern
Pacific 1000; Chicago, Burlington and
Quincy, 1850; Oregon Transcoptinental, 1890
and st. Paul, Minneapolis and Manitoba, 6,325.
Toledo Cincinnati and st. Louis security
holders will meet tomorrow at Boston.
Austin Corbin says he can place tho new
bonds on basis of $1,000 per mile, and is
authorized by the executive committee o
the Indiana, Bloomington and Western
railroad to guarantee, under lease or traffic
agreement, the fixed charges of the st. Louii
division, if such arrangement shall prove
desirable.
The impression prevails that Vanderbilt
and his family are still long of the market
A story was started by the bears at tho hotels
last night that his recent sale of Sl0,000,000 oi
governments was not used to purchase stocks
as reported, but to aid Vanderbilts brokers
to make things snug during his absence Mr.
Vanderbilt said Saturday that ho had no
sold q share of Reading, but on tho contrar,
had increased his holdings during tho recen
raid to over $10,0O0,00o, and he was going t.
stay.
Mr.. j. N Mccullough, vice president of the
Pennsylvania company, says: The restora
tion of east bound rates from st. Louis, by th
Baltimore and Ohio, to 10 cents per 10C
from Chicago to New York has created
better feeling among the eastern roads"
The determination to place Wabash In
receivers hands has had a beneficial etlec
upon Missouri Pacific, as it removes al
doubts as to this company being called upoi
to take care of tho Wabash company's debt.
1t is reported that Exchange place partie
are covering shorts. The clique brokers sa,
they have supporting orders OH a scale of
down. There is very active demand TO
loans in stocks, and the rates are higher thai
since February. 1t is officially announce
that, owing,to the delay necessary to secur
the cooperation of London holders of the con
solidated bonds of the Wabash company, an,
to fully protect ali the interests involved
the company will bo placed In the hands @
temporary receiver until the plans 70
placing the property on o solid basis can b
perfected.
Officials of the Standard Oil company sa,
the reported embarrassment of the compan
and the call in of loans of oil certificates
unquaifedly false, and the journal whic
published the rumors yesterday has been re
quested to contradict them.
Chicago and Alton earnings for the firi
week in May increased S513.
STOCKS.
Following are opening, highest, lowest, an
closing prices of principal stocks as corrected /
special wire reports received by Bateman & CO
bankers, No. l1il street northwest