National Republican. (Washington City (D.C.)) 1872-1888, 1884-02-19
THE MARKETS.
Operations on Wall Street Large and Prices
Stiff.
Excitement Caused by the Failure OF a
Heavy Commission House.


Snecfdt DtsDntch.
NEW York, Feb. 1S.-The market opened
weak, and there was an effort to depress
prices the first hour. Then the Union Pa
cific was pushed up, and the market moved
with IL. The bulk of the business conferred
in Union Pacific and Delaware and Lacka-
wanna. There was o sharp borrowing de-
mand in Union Pacific, the stock lending
to 4 per day. Lackawanna was held up by
the bull pool in this stock, and there was con-
siderable trading in st. Paul, Northwestern,
and Missouri Pacific.
About o'clock there was o reaction in the
active list, and fractional advance just DO
fore tho 2:15 D. m. deliveries. After that
hour Union Pacific broke. St. Paul followed
suit, and the market ran down steadily.
About one minute before closing, the formal
announcement of McGinnis Brothers & Bar
ing was read from the stock exchange ros-
trum, Generalization was about setting when
the gong announcing the close was heard,
and the market closed with great excitement
Privilege brokers say Sage is selling calls
on Western Union telegraph very close TO the
market, but is very timid on his puts, and
asks very low quotations on them.
The Bankers and Merchants Telegraph COM
pany completed two New York-Boston wires
Saturday. and will have eight more inside of
fifteen days. Feeling on Union Pacific con-
IL will DO higher before Saturday night.
IL is claimed that the short interest in
Union Pacific continues increasing and
twist is liable tomorrow or Wednesday, ac-
count books closing tomorrow. The Gould
party is said to have taken 10000 shares of
Union Pacific out of the streetsa nd Mr.. Ed
ward Sweet & Co. are carrying an enormous
amount of this stock The Vanderbilt and
Cable conflict increases in bitterness, and it is
thought the present Rock Island administra-
ton will be able TO retain control without
voting on the s., 600 treasury stock.
The Pacific Mail people say the South
American traffic Is so largo that 1t is difficult
to handle the freight offering.
A block of Postal Telegraph stock was sold
to the Baltimore people at 81 shares on Satur-
day and advanced TO $3.50 bid; the bonds ad-
vanced to SO. .t.l .as
1t was reported in stock board that short
interest of 10000 shares Of Union Pacific
was privately settled on Saturday at 3d.
j. Q. Savage failed on petroleum exchange.
He was long, and about 100000 barrels have
been bought and sold on his account. Kier-
mans special says: Mr.. Fearing, of the firm
of McGinnes, Bros. & Fearing says the failure
is owing to the break in Northern Pacific
stocks, which seriously embarrassed their
customers. The house was in business since
1864, and tho Chicago connection has no re-
sponsibility for the suspension of the New
York house. The New York house owes the
Chicago house, and efforts will be made to
keep the Chicago branch from suspension
Sales of stocks to-day aggregated 392l72
shares, including the following: Delaware,
I,ackawanna and Western, 107, $50; Erie, 1900;
Lake Shore, %, us; Louisville and Nashville,
5000; Northwestern, 1920; New York Cen
trail, 6,Os0; Reading, 4,S00 st. Paul, 69,90O
Union Pacific, 5s,275; Western Union, 15,72S;
Oregon Transcontinental, 14,440; Northern
Pacific preferred, 6,sl6; Pullman Palace, 4,720.
STOCKS.
Following are opening and closing prices Of
principal stocks, as corrected by special wire
reports received by Bateman & Co., bankers,
No 1dl1 street northwest: