National Republican. (Washington City (D.C.)) 1872-1888, 1884-04-21
THE MARKETS.
A Week Of Speculative Dizziness and Lower
Prices
The Bears Having It Pretty Much Their
own Way Saturday.
THE WEEK.
SpecLdl Dispdlch.

Nhh iohh' ApTll lb'-Wll bJrccb was
dull and devoid of special features last week.
There appears to be decline in values, mer-
camille business is dragging, and there is q
steady outflow of gold. Tho movement in
stocks has been variable, but generally it has
resulted in a decline all around. In the
carly part Of the week tho indefinite reports
regarding tho unsettled state of affairs be-
tween tho Union Pacific and Chicago, Bur-
lington and Quincy had an unfavorable in
huenco on the market The Gould stocks
weak, caused 1t is said, by the report that
Wabash would be unable to meet the June
interest on the general mortgages, and
that this road would certainly go into the
hands of o receiver before tho close Of this
year, because the interests of Gould and Sage
were more largely in its bonds than in
It's stocks. Tho report would seem to havo
some foundation from the fact that Gould has
not given his stocks any decided support.
The rumor that Endcott would retro
from the presidency of tho Oregon Transcon-
tinental caused that stock TO take tumble
me prospect OF war between Rochester and
Pittsburg over coal business broke the for
mer, but 1t soon rallied on tho announcement
shat tho disputed questions had been re-
ferred to arbitrators. Tho reported largo
decrease in gross and net earnings for
February made Union Pacific heavy.
Western Union was affected by the progress
made in the eastern states by the opposition
telegraph lines and the coal shares were de-
pressed by tho statement that production at
the mines would be entirely suspended for
another week.
During the latter part Of the week the tone
OF tho market was feverish, the falling Off in
Pacific Mail, Denver, and Rio Graude, and
the Gould specialties being the principal
features. The coalors rallied q little and
became stronger OH tho announcement that q
satisfactory plan had been agreed upon to
restrict coal production.
Railroad earnings SO far as received for
April are very encouraging, and in many
instances show considerable increase, Mer.
camille credit throughout the country ap-
pears TO DO unusually good, notwithstanding
the increase in failures during the previous
week. Profits continue very small, however,
and tho decline in railroad building is still
showing its effects in the depressed condition
OF the iron trade.
Railroads have been affected by lack of
confidence. which has been so positive fea-
ture OF the stock market. The volume of
business has fallen off, and prices have de-
ciined in the majority of issues, although the
decline has been confined principally to tho
speculative issues.
Governments were not SO strong last week
ana decline OF to ! is to DO noted in the
long date issues,
State bonds were dull and price show
but little change.
Cotton speculation for future delivery at
the New York market has been quite active
during the week, but prices have been
somewhat unsettled, with wide variations,
There has been q brisk demand to cover
contracts.
SATURDAYS REVIEW.
The stock market opened about at Fridays
CLOSING, but the bears soon raded the coal
STOCKS upon reported serious troubles with
miners and that the military were ordered
out to protect properties. Reading was
Ioreeu down per cent, and the whole list
hammered ON bear points, and the
stock was forced to $751; the lowest in
Nany months. Erie stock and mortgage
ponds were weak on rumors of serious loss In
earnings and embarrassments in renewing
maturing obligations. The second mortgage
ponds declined to 500, but there was a gain in
the afternoon of !. The ex-Villards
seemed to stand tho pressure very we'll and
only declined fractionally. In the afternoon
the trading was dull until 100 o'clock, when
the bears made determined drive at Read
ing, Union Pacific, Western Union, Erie,
onlcago, burlington, and Quincy, and the
grangers these stocks touching tho lowest
figures of the day. There was o momentary
reaction about 2:l5 o'clock but the general
Tone was decidedly bearish, and tho market
closed very weak and apparently left to care
for itself by the bull leaders.
Counselman & Co.'S Chicago special says:
wheat opened strong but closed easier.
Large realizing by the long side and they
sold out on the belief that there was no i'm.
provement in foreign trade. Much depends
upon the weather and the market was yery
sensitive on this yesterday.
cincinnati special says: Serious internal
dissensions threaten to burst the powerful
linz, Il, 4.
States. Trouble has been brewing all weelr
but not leaked out until to-day, when ofi-
cal report OF high wines shows three cents
decline.
The dissatisfied stockholders of Oregon
Iranscontinental have demanded of President
Enaicott clear and thorough exhibit of the |
atiairs OF tho concern. The demand Ia signed |
by number Of Prominent firms in Wall |
street, who state that they represent a very |
large part of the capital stock.
ihiadelphia advices state that the Penn |
ssylvania company and tue Vanderbilt trunk
INES VIII insist upon plan which will place |
ai .ne ireight business under tho complete |
control OF the pool. The grand trunks per-
eentage OF freight is to be Increased
"A Montreal dispatch says the Canadian |
Pacitc railroad, in anticipation of the annual |
meeting to be held here hay Ii, has ordered |
the transfer books closed in London April III |
ana IN Now York May 9, remaining closed |
until the day of meeting
The sales of stocks to-day agpregate A2a 1874
shares, including Central Pacific, 400; Della
ware, Lackawanna and Western, ~, 700. Eric
%, no; Lake Shore, 600; Louisville and
Nashville, 5,llO; Missouri Pacific, 32 800
northwestern. 500; Pacific Mail, 5000; Read,
ing dl'4UO st. raul, %, 800; Union Pacific,
~ 1880; Western Union, 1920; Northern Pa.
chc preferred, 1900; Canadian Pacific. 4 ION.
oregon Transcontinental, 5000.
BANK STATEMENT