National Republican., 1884-03-04
THE MARKETS.
Stocks Again Firm, With Strong Upward
Tendency.
Important Decision Affecting the Liebil-
ity OF o. IT. Stockholders.
Epecial Dispninh.

Special DtsDdtfh.
NEW York, March 3.-The market opened
strong with good deal covering in stocks
thought to bo heavily oversold, notably Lake
Shore Union Pacific, and Louisville and
Nashville. Then prices fell off again. aud
about o'clock rallied again, and from then
until closing were strong and steady. The
market can best be called irregular. Lacka-
wanna loaned from /, then !, and up to de-
livery hour about .. The advances in Louis
vile and Nashville, Lake Shore, and Union
Pacific wero mainly on coverings st. Paul
and Northwestern were active, and q better
feeling prevailed on reports of pool troubles
west of Chicago being harmonized. Bonds
steady, with West Shores higher.
The tone Of the morning press hnancials
generally say that the dealing will be light
on reaction Of Saturdays excitement on
Lackawanna squeeze
The fact that prominent firms we're taking
oil the Louisville and Nashville offered Friday
and Saturday attracts attention; this company
gained an important victory in the decision in
its favor by the United States circuit court in
the matter of the Tennessee railroad commiss-
ion, and can now regulate its affairs without
fear of interference. Another case of import
ance to the road was decided in its favor on
Saturday by the supreme court the state tried
to assess the northwestern division of the
Nashville and Chattanooga for taxation, but
the court sustained the charter exemption.
The movement in Lackawanna was o natu-
raj sequence to the bear raid on the stock,
and 1t is predicted that other stocks that have
been persistently sold short will act similarly
during this week. Louisville and Nashville
Lake Shore, st. Paul, Northern Pacific pre-
ferred, Oregon Transcontinental, Western
Union, Union Pacific. and others are especially
oversold.
Tho fact that three Vanderbilt houses are
loaning 60,00O shares OF Lake Shore and large
amounts of New York Central is used by bulls
as an argument that shorts in these stocks are
apt to have trouble. Louisville and Nashville
is said to be especially dangerous for short
interest.
Counselman g. Co.'s Chicago special says
that wheat looks like sharp decline; no
demand, no support Mt present prices.
Corn is getting unwieldy. The East Ten
nessee, Virginia and Georgia company has pur-
chased from the state of Georgia the Macon
and Brunswick road, stipulating thSb pay
rnent could be made either in United States
A per cents, AIS, or Georgia state bonds.
Final payment was made Saturday Of $780,
600 In Georgia state bonds.
The trick of the Lackawanna bull pool,
which thus far escaped attention, was tho SELL
ing on Friday Of seller 3option and the buying
ofregular stock against them. This let the pool
get most of the cash stock, and to-day it was
deliv cred to the seller stock.
Alegal written opinion was given that there
is liability upon stockholders of the Oregon
Transcontinontal in case its assets should
not equal its liabilities. Subscribers to this
stock In 1881 paid s3 per cent. par value, aud
under the laws of Oregon holders are liable to
creditors to the extent unpaid upon each share.
The opinion reads: Stockholders shall be
liable for indebtedness to tho amount Of their
stock subscribed and unpaid and no more"
Subsequent holders are liable for the unpaid
balance Of original holders. The liabilities
under this decision amount to S6,S00,000.
The Colorado coal and iron fight is getting
hotter, and the coal company is sending
freight over the Denver and New Orleans
road.
The advance in the stock market is partly
on reports Of adjustment Of the pool troubles
west of Chicago.
The Mexican Central railroad will COM
plete track laying March 10, and will open
for traffic to the City of Mexico April /.
Lackawanna is loaning this afternoon at
atoa.
Sales of stocks to-day aggregated AGA 80;
shares, including the following: Canads
Southern, 6 800: Central Pacific, $3.50; Della
ware Lackawanna and Western, regular, 141, ),
450; Lake Shore, 10000; Louisville and Nash.
vile, 21,l50; Missouri Pacific, $500; North.
western, 1850; Reading, 13,40O; st. Paul, So.
720; Union Pacific, regular, 62, 1S0 Western
Union, 11,349; Northern Pacific preferred
1860; Oregon TranscOntinental, S,100; Della
ware Lackawanna and Western, cash, $4,000
STOCKS.
Following are opening and closing prices OF
principal stocks, as corrected by special wire
reports received by Bateman & Co., bankers,
No. 1411 + street northwest.