National Republican. (Washington City (D.C.)) 1872-1888, 1884-07-19
THE MARKETS.
Prices Advancing ON Rumors OF
Formation OF Strong Hull Pools
Tho Grain Market Strong and Prices
ON the I'm Grade.

Prices Advancing on Rumors of
Formation OF Strong Hull Pools
Tho Grain Market Strong and Prices
ON the Up Grade.
Special Dispatch.
New YORK, July 1s.--The market
opened dull and steady to-day at Thurs
day closing figures. After the first half
hour Lake Shore, Northwestern, and
Pacific Mail advanced ! to 2, and the
entire active list strengthened on limited
dealings. From noon till 2:15 the market
was very dull, but prices steadily i'm
proved under coverings by the short
interest and reporting buying by new
pools in Western Union, Northwest, and
st. Paul. The advance held right along
till the closing, which was at highest
prices of tho day on active buying by
timid shorts.
Bonds moro active. Erie seconds lead
ing In trading, and 1t higher.
Sterling exchange dull and unchanged.
Money easy. closing at per cent.
A Chicago dispatch says: wheat is
strong and looks higher. The shorts are
getting little uneasy. We thing none
of the big shorts have bought much vet.
1t looks rs though prices were touching
bottom when old bears now homo from
Europe SAY they can SEQ no reason for
these low prices. Corn strong on good
many buying orders at the opening"
Cotton to-day Is nervous. but business
extremely dull. The Liverpool market
was nearly stagnant after opening, add
ours followed suit.
A representative of ono of the houses
Just suspended states that its failure was
entirely due to the action of banks In
refusing to grant accommodations on good
paper. Inability to negotiate these notes,
which ordinarily would havo been easily
marketable, Is experienced by many other
houses in the importing and jobbing dry
goods trade
Opinion is expressed by well-informed
people that the general practice of dating
bills ahead in order to allow longer credit
has placed number Of jobbers and i'm
porters in positions that unless bank aid
them they will DO obliged to suspend.
Stock houses having private wires to,
watering places complain comparatively
nothing doingand no disposition to
speculate. 1t Is reported that the Lack
awanna pool had disposed of its hold
ings, upward 10000 shares,
1t Is reported q new pool has been
formed in st. Paul in connection with
the Osborne pool. 1t is intimated that
the inside management of the road holds
the largest.
The advance In the general list hos
been stimulated by denials of any imme-
date trouble, and report that the cutting
of rates in tho west has been stopped.
The only noticeable buying comes from
tho shorts Exchange place bears are
selling, but conservative brokers say there
is no change in dealings.
1t is reported in the board that new
pools have been formed to-day in Western
Union, Northwest, and st. Paul, which
accounts for the strength of the market.
BY associated Press.
NEW YORK, July 1.-THE stock market
while strong In tone, during the early part Of
tons In the entire list, presented no specially
new features, except that such slight reactions
rs occurred invariable brought in buying
During tho afternoon however, this quiet con-
dition of affairs gave place TO an active and
buoyant market. The bears became alarmed
and made efforts to cover, but were. afforded
little opportunity, as prices advanced rapidly.
81. Paul and Missouri Pacific were features
throughout. Both stocks were favorably
afected by reports of increased earnings, and
as tho short interest in them Is especially large
they were foremost In the advance.
In the case of tho Missouri Pacific the fact
That q large amount Of sellers options are
huOuJ iuutuIluB luhterlally stlnlulateQ the rise
in the stock, which Is scarce Lackawanna
was another prominent card and the improve
ment In the coal trade was used with effect in
advancing the price. The stock is controlled
by the same parties who have made several
remarkable movements In the shares during
the past few months Union Pacific, North
western,- Western Union, Northern Pacific,
Pacific Mail, and the Vanderbilts all attracted
attention and advanced sharply. The i'm
provement ranged from u to 81 per Qept. In
the final sales there was reaction OF u TO "a
per cent from the highest point. gi1H q
The total sales of stock to-day aggregate
240,979 shares, including Delaware, 1acka-
wanna, and Western, $500; Lake Shore, 49,
495; Missouri Pacfc, 12,d00 Northwestern,
20,736; New York Central, 5,055; Pacific Mail,
5,2i2; st. Paul, 1855; Union Pacific, 22,sl5;
Western Union, 16095; Northern Pacific pre-
ferred, 0,753.
Treasury balances--coin, sl1e, 2s7, 1859; cur
rency, Ss,755,9s9. ~
Quotations OF Fridays Stock Sales.
The following have been furnished by Bate
man q Co., bankers 1411 i street, being the
most active stocks In the New York exchange