National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-28
THE MARKETS.
Further Progress Made by the Bull Move
ment Commenced Monday.
The closing Quotations Irregular, Bu
in tho Main Firm.

NEW YORK, May 27.--The bull movement
which set in yesterday afternoon made fur
Their progress to-day, Before tho opening Of
business this morning there were orders for
round amounts of the dividend-paying stocks
in brokers hands The market opened
strong, and in the first fifteen minutes of
trading there was an advance Of to IL per
cent in prices, Northwest, Quincy, Lacka-
wanna, Louisville and Nashville, Missouri
Pacific, Jersey Central, Reading, Pacific
Mail, and st. Paul being most conspic-
uous in the upward movement. Be-
fore the first call there was a
decline Of TO IL per cent, tho latter in
Lackawauna, which sold down to 97s. Near
midday tho market developed considerable
strength, and, in fact became buoyant, the
reaction noticed above having merely served
TO bring in fresh buying orders. Prices ad-
vanced \ to 81 per cent. as compared with last
nights closing. This was succeeded by re
action of l to q per cent, the latter in Lack
awanna, which returned to 10Os. Near 2
o'clock the market was strong and higher
again, and some shares were OF tho best oil
the day.
About 2:3O p. m. there we're sales to realize
profits which resulted in a decline Of to II
per cent, Lackawanna leading, selling down
TO 10l. In tho last fifteen minutes OF BUSH
ness Missouri Pacific rose to 74a, the highest
point of the day. The market closed irregu-
lar, but in the main firm. Considerable long
stock was taken for homo and foreign &C
count
Railway bonds we're higher, except for
West Shore IS, which were lower and sold
down from AZ to 429, rose to 452 and closed at
a.
Sales of stocks to-day. 512,15S shar' -,
including tho following: Delaware, Lacka-
wanna and Western, 1l0,G05: Erie, $3.50;
Lake Shore 800; Louisville and Nashville,
$500; Missouri Pacific, 40, 1885, Northwestern,
2S,960; New Jersey Central, $500; New York
Central, 6,927; Pacific Mail $500; Reading,
23,400; st. Paul, $4,000; Texas Pacific $3.50;
Union Pacific, 30,500; Western Union, 36s5o;
Chicago, Burlington and Quincy, 1850;
Northern Pacific, preferred, 1857; Oregon
Transcontinenta, 1856.
The cotton position is growing stronger on
unfavorable weather reports from Texas, and
decreasing receipts.
The large bear operators aided the rise by
GOV ering shorts to aid in shaking out the
room traders who have been operating for 0
decline. People identified with Gould's
interest deny he borrowed Sl0,0O00OO from
Mr.. Astor. ID. p. Morgan is reported large
buyer of stocks for long accounts, as his
shorts were closed some time since. Con-
sentative brokers regard the selling as very
much overdone The strength in the Gould
stocks, coalers, and, in fact, all active stocks,
was q surprise to tho smaller operators.
S. V. White was the largest buyer OF Lacka-
wanna, and IL is rumored that he is reorgan-
inng another pool to squeeze the bears. This
talk has made the shorts very timid, and
there was a rush to cover among the room
traders during the final dealings. Sterling
exchange is reported stronger, and it is stated
that the large amount of security bills caus
ing the decline have been absorbed.
The transfer of $5,000,000 government
bonds by Mr.. w. II. Vanderbilt to his son
w. X. Vanderbilt was regarded to have g
beneficial effect on the market, not only in
strengthening the position of the younger
Vanderbilt, but also as evidence that prices
had gone about as low as could BIO expected
and better market is now in order. Coco
buying is reported of Chicago, Burlington
and Quincy for Boston account. The Wal
street Daily News of to-day says: "Rumor
of heavy defalcation in Jersey Central were
whispered about yesterday, it being stated
Mat four or five millions of securities hac
,een distracted from its treasury"
The Herald this morning says Wash. Il
Conner went on tho floor of the stock ex
,hange yesterday for the first time in q long
while, and rushed into the Missouri Pacific
crowd, where he bid up that stock. He soon
ran over to the Western Union crowd, but
found that stock had advanced, and in u few
minutes he had left the exchange
w. Ii. Vanderbilt will sail for New York
June z.
The support by Gould and Vanderbilt
brokers was good and they claimed that nc
heavy declines would take place.
Mr.. +. ID. Tappan, chairman of the loar
committee of the clearing house, says the
published statement that loan certificates are
being hawked for sale is an unqualified false
hood. The certificates are intended only fol
use in tho clearing house banks, and any
bank permitting their use in any other rela
tion would be disciplined therefor
A Collies IL Levy Philadelphia dispatch
declares the reports of defalcation in jersey
Central is o manufactured lie.
Leading bank officials say the clearing
house books will show that tho majority o
loans are made of commercial paper, well in
,dorsed, and when these bills mature they will
be taken up and thus liquidate themselves
A Vienna dispatch says: "Gewitsch 4 Sons
the oldest and largest leather firm in Vienni
has failed. Liabilities $l,00O,00O. The fail
ure was caused by excessive speculatons
Seven other large firms have suspended. Tn,
houses most affected are those having con
necton with New York"
STOCKS.
Following are opening, highest lowest, and
closing prices of principal stocks as corrected by
special wire reports received by Batemau e Co,
bankers, No. llil street northwest: