National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-30
THE MARKETS.
A Weak Feeling Makes Rather Light
Days Trading in Wall Street.
A Decline Followed by Triiilng Adj
vance-The closing strong.

ton opened generally lower this morning.
New York Central and New Jersey Central
were the weak spots, the former declining 1t
per cent. to 10it, aud tho latter II to 90,
New York Central was depressed on revival
of the talk of a reduction in dividends to II
I per cent. quarterly. Canadian Pacific declined
I Ia to as; Michigan Central, Ia TO 81; Reading,
II to 261, and Lackawanna to 99b. Western
Union, Kansas and Texas, Delaware and
Hudson, Northwestern, st. Paul, Louisville
and Nashville, Northern Pacific preferred,
and Oregon Transcontinental were strong.
Before the first call tho temper of speculation
turned for tho better, aud the market con-
tinued strong until the close. The sharp
break in prices yesterday, it is now alleged,
was encouraged by the bull traders, VINO
considered that the market was going up too
fast
The buying Of Pacific Mail, Missouri
Pacific, Western Union, Union Pacific, Lack
awapna and Northwest was Of an excellent
character. Pacific Mail was higher on the
favorable showing made by the company in
its statements issued yesterday, and on adj
vices from Washington that tho conference
committee appointed by Speaker Carlisle on
the shipping bill were in favor of the clause
granting additional mail pay to American
steamers plying to foreign ports, Pacific Mail
rose Al per cent. to Aga
At the close there was reaction of to
per cent in the general list and Ii per cent.
in Jersey Central, but the market left off
stronger. The sharp rise in Missouri Pacific
to 49, at the close had q buoyant effect on
speculation generally The placing of the
Wabash in the hands Of receivers effectually
disposes of the bear talk that the Missouri
\ Pacific would be involved with the Wabash
and this had good effect on the stock. Rail-
way bonds were generally firm and higher.
y An unsuccessful attempt was made to break
no price of the Kansas Pacific consols to-day
b one of tho room traders Five bonds were
Nd at CO. seller Co. and two at so register,
sSt holders were not frightened and did not
fsell.
There was some heavy inside buying on
J the continued increase in tho earnings, and
She bears made an effort to cover. all of
which assisted the upward movement.
Tho Wabash securities were not affected by
the appointment of receivers for the property,
~ nnd in fact closed higher on tho day, the be-
" lief beng that the course decided upon was
for the purpose of protecting the stock and
bondhodeIs, and of preventing any outside
proceedings which might have proved detri-
mental to the interests of a majority OF the
holders of the securities.
As Compared with last nights closing,
prices are to 4 per cent. higher, except for
New York Central, which is per cent. lower
sales Gf stocks to-day aggregated 3S2,779
Lhares Including the following: Delaware,
Lackawahna and Western, 66,290; Erie. ALSO
Lake Shore, 1855; Louisville aud Nashville
$4,000; New York Central, 1880; Pacific
Mail, 1900, Reading, 1900; st. Paul, &c. 100
Texas Pacific, 1000; Union Pacific, 62,5O0
Western, Onion, 1s,SoO;, Northern Pacific
preferred, $500
Treasury balances: Coin, $l27 80, 773; cur
rency, $10,2l5,O05.
The Cauymack- Woerishoeffer Smith follow
I ing which temporarily retired from the mar
ket, were reported to be putting out shorts
\ estimated at 90, 600 shares.
J The report that New York Central would
I reduce its dividends, was again current las
evening, ana it was stated that 8 per cent
wouldlbe paid hereafter. This, however, wa
" not{oficial.
The Erie railroad company is said to DO ar
ranging loans OH its paper, which, 30 far, hav
IA proved unsuccessful.
Bear rumOrs affecting Reading were in cir
n culation last night
The Gould and Vanderbilt people are re
ported to have been buyers of stocks at thu
n decline.
n The Soutter following who arc believed K
M have covered up on borrowed stocks durinl
the squeeze, svailed themselves yesterday o
the low loaning rates to put out further line
of shorts.
K The Morgan-Goul Conner party CLAIM
II yesterdays reaction was only natural afte
l the extraordinary rally Of tho early part o
N the week.
Y The statement that the Wabash would b,
placed in the hands of q receiver, and siren
uously denied by officers of the company,
borne out by the facts, Humphreys, of New
n York, and Tut Of st. Louis, having bee
u appointed by the court, with bonds fixed a
III 100000. 1t is not expected that the actio
II will have much effect on the securities.
N The report that Vanderbilt had sold Ne,
W York Central in London is not general
I'M credited among those we'll informed.
Foreign arbitrage houses were buyers c
Y stocks just before closing, as prices Shove
4 margin of profit to resell abroad
WI The decline in Kansas Pacific bonds is sal
to BIO due to legal complications arising out q
( the absorption of road by the Union Pacif
< some years ago. 1t is stated that the cor
s.ruction of the road was paid for in part i
I Union Pacific, and that the lattor company
J now DESTROYS to reconsider its relations.
J L. X. Willard & Co., oil Chicago, say: 18th
crowd is bulling wheat on bad reports frol
\ st. Louis OF growing crops. st. Louis markt
advanced II to cents, and gives tho impre
sion that there may be something in the T,
ports"
A Boston dispatch says: Mexican Centr;
u securities have all declined on tho prosperity
default in interest in July semi-oliiGially al
Y nounced. Tho Metropolitan bank share
which to-day were sold by Ludlow Thomf
and Asciel Il Co. at 80, were last night 80 bi,
par asked. Another transfer of 2,500,0(
'f United States As has been made by VIM. /
s Vanderbilt to VIM. X. Vanderbilt.
~ STOCKS.
" Following are opening, highest, lowest, an
closing prices OF principal stocks. ms corrected b
special wire reports received by Datemau & Co
bankers, No. llil L street northwest:
= i = Il