National Republican. (Washington City (D.C.)) 1872-1888, 1884-06-06
THE MARKETS
Generally Weak, Though Some Stocks Pre-
scented a Firm Front
Several Thousand Union Pacific Shares
Transferred TO MIR. s. j. Tiidcn.

New YORK, June Sat tho stock ex-
change this morning the market opened
weak, but soon advanced 4 to 1 per cent.
Louisville and Nashville, however, was ex-
coptionally heavy, and pressed for sale on
reports that the company was in pressing
neon Of funds, and that the present board of
directors had been requested to resign by the
leading stockholders. The directors held
conference during tho day and discussed
tho finances of tho company. No in
formation could be obtained concerning
their action, but 1t Is stated that
another meeting will be held on Monday
next. The stock broke 81 per cent. to 25f,
rallied to 2Sl, and reacted to q to 27B. The
active list presented n firm front in the early
transactions, but later dropped ! to 81 per
cent. in sympathy with the break in Louis
vile and Nashville. Late in the day there
was a frmer tone and rally Of to "a per
cent, the latter in Missouri Pacific, which
rose to S2l The market closed firm.
Mr.. A. s. Hatch of the banking firm of
Fisk g. Hatch, was to-day readmitted to mem
bersltp ut the stock exchange. Mr.. Hatchs
suspension was the shortest on record.
Railway bonds were irregular, but in the
main weak. West Shore IS again attracted
tho chief speculative attention, and after
declining to 40 rose to Al. Total sales, $780,
900. Atlantic and Pacific incomes declined
Q per cent to 10 and rallied to lls. Erie new
second consols sold down II to 55l and rallied
to 81. Northern Pacific first advanced to
104 aud later lost the improvement. Texas
Pacific Rios sold down 80 to 47b; do. incomes 2
to 40I; Richmond and Danville Is II to 96l.
The reported trouble in Louisville and
Nashville was the principle topic last night
1t was said that the losses under Baldwn's
management were greater than was stated
uuh ha rnaiunaI and tho ia in
pressing need of largo sum TO meet out
standing obligations maturing soon. 1t Is
also reported that several of the directors
and the newly-electcd president, Rogers, had
to tender their designations. +. ID. Carley is
mentioned as his successor, but as he cannot
influence capital his election is doubtful.
Tho market opened fairly steady, with the
exception of Louisville and Nashville, which
was of from the closing prices, and afterward
sold down !, recovering /. Won Hoffman,
& Co. bought 1000 shares at 81, and other
large buyers were j. d. Probst aud Young
Il 5lorse. The sellers were II. Newton and
William Heath q Co.
Observation-Disclosures and Danville fol
May, decrease 5000; Virginia Midland, in
crease $i,177.75; Western North Carolina
May, increase $4,940; Canada Pacific, fourth
week in May, decrease $4,000, and for month
$4,000.
Several days since circular was issued t.
requesting that they send in their resigna
tions to allow the company to be reorganized
with a new board selected from the larges
stockholders. This is the foundation for al
the rumors current.
Herman says we are requested to state tina
not single coupon of Texas Pacific bonds
pervious to June /, remains uncanceled
Insiders say the company has no tloatin.
debt beyond what is owing to Missouri
Pacific, aud two or three months good earn
ings will make up the deficiency.
The rumor is revived that at the mex
meeting of Union Pacific directors Mr.. Dilloi
will resign. and be succeeded in the presi
dency by Charles Francis Adams Official
deny this. The question of dividend will
come up on the 18th of June, and insiders So.
it is q foregone conclusion that it will b
passed.
Samuel j. Tilden has had transferred
within the past few days, to his name be
tween 5000 and 1000 shares of Union Pacif
stock, and stockholders in New England hav
increased in number $50 since May 1.
Sales of stocks to-day aggregated 465, S3
shares. including the following: Delaware
Lackawanna and Western, 63S00; Erie, Zoo
Lake Shore 1872 Louisville and Nashville
71,295; MISSOURI Pacific, 44,70O; Northwest
25,9S0; New York Central, 81, 1928; Reading
1890; ST. Paul, $3.50; Texas Pacific, 6,27S
Union Pacific, 60, $3.50; Western Union, 81, 45l
Northern Pacific, preferred, 6,400; Orego
Transcontinental 4,265; Chicago, Burlingto
and Quincy, 1000.
Treasury balances: Coin, $127, 1851, 1858; cuI
rency, $9,7s4, 1865.
STOCKS.
Following are opening highest, lowest an
closing prices Of principal stocks: as corrected b
bankers No, ll4l II street northwest.