National Republican., 1884-03-01
THE MARKETS.
Gar Vanderbilt Still Holding Up the Stock
Market by the Tail
A Budget OF Interesting Small Talk
About Various Matters.
Soeninl Dtspnlch.

DDtCiut DtDHt'I
NEW YORK, Feb. 29.-Market opened lower
and declined rapidly for the first hour under
heavy pressure. About II o'clock support
ing orders in Lake Shore, Northwestern,
Union Pacific, and st. Paul turned the de-
cline, and q sharp rally, lasting until 1:SO,
followed. 1t is generally conceded that Van
derbilt was supporting prices, and traders
therefore covered shorts. The short interest
is believed to have been very largely in
creased yesterday. At 2 o'clock the market
again rallied under brisk buying Of Uniou
Pacific by prominent bears. Bonds were
strong except Northern Pacific firsts and
Texas incomes. West Shores advanced
sharply In the last half hours trading tho
market was firm, under brisk covering in ST.
Paul and West Shores.
On tho opening Lake Shore was sold by
Savin and V. Brownell and l.. and Miller,
Francis & Co. The buyers were Thorn Il
Elliott. In New York Central the sellers
were Drake, Meigs, and Thayer. The buyers
were Herrick, Stornberger & Fuld, and Ives
Louisville and Nashville and Union Pacific
Henderson bought 5000. Tho sellers were
Coombs and Willard s. Co. Erie was bought
freely by London bankers, and sold by John
Benjamin and Moulton. Elliott sold St.
Paul. Hart was the principal seller of North
western. W. j. Hotchkiss sold his scat for
$4,000.
1t is reported that the Central Pacific COM
pany proposes to issue land-noto bonds to
secure dominion government bonds for n loan
of $22, 100000.
Geo. +. stono L. II. II. Lyman, and H. X.
Sheldon are drawing up plan for the re-
organization OF the Ohio Central.
COunselman e. C.'s Chicago special says:
"Looks Us though market bo weaker. st.
Louis receipts, 265 cars corn, 80 cars wheat.
Bulls working hard TO make market to sell
on"
Honore Bros & Glover's Chicago special
looks for improvement after to-morrow's de-
liveries, but will be on local influences
The rumor of defalcation in q Broadway
house shows, upon investigation, that S2O,OOO
is only involved, and the firm, which is not
given up will be in no way Inconvenience.
Mr.. Vanderbilt said this forenoon: II have
not sold share of stock this week and have
full confidence in the market Short interest
in Lake Shore increasd yesterday by 25,OOO
shares, and think sonie of these smart shorts
will experience difficulty in getting stock back
at profit to-day"
The following is upon good authority, and
may be said to be semi official: "Rumor that
Mr.. Huntington sold his Central Pacific stock
is untrue He and his associates own about
three-fifths of the Central Pacific road, which
is earning its dividends and will continue
paying them"
a ueClSlOn IN Jue ClICulb CourG yesbeIuuy
makes difference in favor of the Central
Pacific company of about 81, ,0O00oO in taxes
Van Hoffman & Co. ship 100000 in gold
tomorrow to Europe making q total OF about
$1,250.000 reported in toto for the Adriatic
The general manager of the Manitoba COM
pany is reported as saying that that road is
suffering greatly from snow bookades and
competition with the Canada Pacific.
The sales Of stocks to-day were 550,2SC
shares, including tho following: Canada
Southern, 5000; Central Pacific, s,675; Della
ware, Lackawanna aud Western, 10000
Erie, 13,4OO; Lake Shore, 30,50o; Louisville
and Nashville, 1900; Missouri Pacific, 14,200
Northwestern, 23,525; New York Central
5000; Pacific Mail, 1920; Reading, 19,45O; st
Paul. 5I,62O; Texas Pacific $3.50; Union Pa
cifc, l30,230 Western Union, 1880; North
ern Pacific preferred, s,4O0j Oregon TRANS
continental, $3.50.
STOCKS.
Following are opening and closing prices Of
principal stocks as corrected by special wire
reports received by Bateman & Co., bankers
ed, ri