National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-20
THE MARKETS.
A Decline in the Prico Of Stocks Instead Of
the Expected Advance,
Several Explanations Given for the I'm
IoOked-6or Turn-Tho nay's Gossip.

NEW YopK, May 19-The week opened
with quiet feeling in Wall street. The
stock market, however, was lower, and before
the first coll decline Of TO 3 por cent. took
place, the latter in Louisville and Nashville
which sold down to 81. This was succeeded
by a rally of to II per cent. but Louisville
and Nashville again developed weakness,
breaking to 30k on heavy salOs Tho stock
was weak on tho revival Of the unfoundod
rumor of dofalcation in the company's office.
IL was also said that pool in the stock had
liquidated. Tho other active shares wer
lower in sympathy. Northwestern decline
TO 1929, Sc. Paul 1 to 70s, Central
Pacific to 43l, Quincy to 1853, Laclsawanna
TO 100, Denver to 10}, Lake Shore to $50,
Missouri Pacific TO 20, Union Pacific to d3l
and Western Union to 55g. In the aftornoo
the failure of William b. Scott & Co. was an
nounced but the market was not affected
thereby. Late in the day moderate buying
movement set in and prices moved up ! to
1t per cent.
Tho Vanderbilt party were reported TO
have been large sellers of Reading on Satur-
day, but the Vanderbilt brokers deny this.
Conservative houses are reported as saying
they do not believe in any great immediate
advance 1t is believed that tho short inter-
est is largely eliminated. Mr.. Gould was
reported large buyer Saturday Of Western
Union and Missouri Pacific.
London houses report no European buying
here.
Gerald Hoyt and John Homo, IT,, sold
Louisville and Nashville down from 1871.
Spencer, Trask g. Co. report number Of
country orders to buy this morning About
5000 shares, including Northwestern, West.
ern Union, Union Pacific, and Lake Shore,
hu hon ola hyy tbn,, httu 10
Jameson & Barnes bought st. Paul; Nei-
meyer bought Lake Shore; the Cammack
following sold Union Pacific. number Of
bull houses win remain inactive until news
Of Nanderbilts arrival at Queenstown is re-
ceived.
1t was reported in the stock board that pri-
gate settlements woro were made yesterday
between prominent bear operators and Van
3erbilt brokers in Lake Shore at IS.
There Is no observable selling of long stock
and Won Hoffman & Co. arc buying some
ancies for London account II. T. Flower &
Co. sold Lquiyile aud Nashville and Missouri
and Pacific. Ellis " Seaver lost ST. Paul.
An Indianapolis dispatch says: at is be-
loved here that the financial troubles in New
York will cause the Erie to abandon the aG-
QUESTION of the Cincinnati, Wabash & Mich
igan road, and leave IL for tho Lake Shore.
The advance in foreign exchange is re-
garded as indicating u belief on the part
of the foreign bankers that money will rule
much easier in the near future.
The WoerishOfler party Is dealing eau
tiously. Mr.. White says tho market Is un-
dersoing natural reaction. Tho action of
Mr.. A. Mitchell, of the st. Paul company, in
buying wheat is said by tho bulls to DO as
effective as similar purchases in 1875.
G. c. Baldwin has resigned tho presidency
Of the Louisville and Nashville railroad
company. committee has audited tho
company's accounts, and oil reports of detail
cations, embezzlemeDts of funds, or msap-
preparation Of securities are officially pro-
nounced without foundation.
STOCKS.
Following are opening highest. lowest, and
closing prices of principal stocks as corrected by
special wire reports received by Batoman & Co.,
bankers, No. llil street northwest: