National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-29
THE MARKETS.
The Bears Make Sharp Attacks, Aided by
Uufavorabie Dividend Runors.

NEW YORK, May 2s.-The share market
opened weak and depressed, and in the
first half hour of business there was
decline of to 81 per cent. in prices.
Later on there was recovery of to 1t per
cent Lackawanna and Union Pacific lead
ing the rally, with sales up to 10l3 and Ala
respectively. Jersey Central was strong in
the meantime, opening per cent. higher ut
Gil, rising to B0S reacting to 59l, and recover
ing to SOL. After IL q. m. speculation became
weak and lower. In the afternoon tho
market, supported by unfavorable
rumors. One was that tho Now York Central
would reduce dividends to 6 per cent; that
the company's quarterly report to be pre-.
sented to the railroad commissioners would
make very unfavorable showing; that the
Union Pacific earnings for April would show
q heavy decrease, and that Boston houses
we're in trouble. Money also became active,
advancing to per cent, and this assisted the
downward movement, and prices broke J to
per cent, New York Central, Northwest pre-
ferred and Union Pacific being tho greatest
sufferers. Near the close there was recovery
of to IL per cent, the latter in Jersey
Central, which advanced to 5Ss. Tho market
closed steady.
Treasury balances: Coin, S1?s, s93,212; cur
renoy, $10,55S,526.
Sales of stocks to-day aggregated 405, $50
Lackawanna and Western, $500; Eric,
1875; Lake Shore, 1871; Louisville and
Nashville, CLIO; Missouri Pacific d0400;
Northwestern, 10,0G0 New Jersey Central,
5,225; New York Central, 1896 Reading,
1890; st. Paul, $40; Union Pacific 63, 1900;
Western Union, 26,900; Chicago Burlington
and Quincy, 400; Northern Pacific pre-
ferred, 1868.
1t is reported that the Standard Oil people
materially aided the recent advance, and are
buying freely.
Travers brokers were buyers of Lackawanna.
IT is estimated that they bought upwards of
10000 shares.
Vanderbilt brokers declare that the strength
In their specalties is not due to inside support.
Gould is reported to DO buying Missouri
Pacific and Western Union.
1t is believed the short interest has been
largely decreased, and tho apparent scarcity
is due to manipulation in certain stocks.
The Gould brokers report that the selling
is principally by traders who covered shorts
Monday and yesterday. Woerishoetler and
Smiths following predict lower prices.
The bulls are allowing the market to have
reaction in order to satisfy class of buyers
who thought tho advance was too rapid
The governing committee of the stock ez-
change has decided to close the exchange on
Friday next Decoration day and reopen on
Saturday at IL a. m The committee also de-
cided to open the exchange on Mondays dur
ing June, July, and August, at IL q. M. instead
of 10 a. m. rs usual.
Sternberger offered Erie down in 1000 lots,
and the stories ran that New York Central
would reduce its dividends to 6 per cent.
The Cammack- Woerishofler following put
out further lines OF shorts in Western Union,
Union Pacific, and coal stocks. London and
Philadelphia with Chicago houses sold stocks.
Bank officers report money returning here
very fast.
Counselman's Chicago special says
Weather reports say many wheat fields in
Illinois look like all cheat and no wheat.
Corn looks well and may escape injury.
Pruyn started the frost stories Wethink he
is a monumental fraud, and will circulate
anything.
STOCKS
Following are opening, highest, lowest, and
closing prices of principal stocks. corrected by
special wire reports received by Bateman Co.,
bankers, No. l1il street northwest: