Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1884-05-03
finantiiaI

Large Dealings in PaciHcs-A sudden
Rush to seII-A Drop i'm the Prices
The Younger vanaerbflts Forced to
Observation-Disclosures by Watchful jay
Gould-Keene Still Fail OF Speculative
Life.
NEW York, May 2.
The Pacific railroad stocks the features of the
dealings in the Stock Exchange to-day and recorded
some wide fluctuations. The transactions in them
were very large. but almost everybody having hold
ings In them appeared DESTROYS Kidding themfeves
OF their posses aons without regard to price or the
loss Involved perfect avalanche of Union, Central
and Missouri Pacific stock deluged the Market under
the weight of which prices of stock sreks fol-
lows: Union Pacific from 81 SIS; Central from
GUY 30 46H and Missouri from 81 to 79H The out
pour OF these tecurities was great thst some of
the operators at loss to account for
where all the stock was coming from The selling of
stocks was accompanied by q flood Of unfavorable
rumors and the bears room traders assisted
pressing them by vigorous hanmering. The
amount of long stock thrown the market plainly
indicated that several Of the larger holders
loadtPg 1t was asserted by that large part of
tnat sold came from the strong boxes Of the younger
fanoe rpllfs' whom it was alleged had suf-
fertd heavy losses in trying to hold up
the stocks In which they were interested
and were forced TO unload Unicn Pacific to-day,
winch they had bought at 10, q certain hank which
had loaned lsrge on the stock at &C. having
called In the loan. In addition to this it stated
that Jay Could learning Of the situation the boya
were In, had taken advantage and sold the market
under theza. The reports regarding these stocks
were that the Oregon Transcontn entail association
which embraces oil the Transcontinenta1 roads and
the Pacific Mail company, about to break up; thai
Burlington and Quincy hsd obtained control of the
Oregon TrsnscoatiHental which would thus give il
control OF Oregon Navigation and the Northern Pa
elmo and practically also of the Oregon Short Line
Last, bot not least. 1t reported that genera
strike of the empIoyes Of the Union Pacific
| at Omaha had ccurred Mr.. Ham, the assistant
treasurer of the Union Pacific when asked as to tht
truth OF the last report said that the report had
grown out of the fact that few foundrymen en-.
ployed by the company had become dissatisfied and
left work. The depression in the Pacific stocks mn
settled the rest OF the market and hot contest en-
sued in most of the stocks in both the bull
pools with varying sidea bat the
Last hour the bulls had decidedly the best of it and
assisted by sharp cornerng the part Of the stocks
there was an upward turn in most of the list
ranging from Il to 2. agures closing ire gularlS
changed, Tut in the majority of showing ir-
proVement as compared with yesterdays closing
quotations. The speoiafties were quiet and the
chsnges unimportant- Mr.. Keene's embarrassment
continues to be the topic of conversation on the
street. MI. Keene being quoted expressing himse
In regard to his trouble follows: own it unfor-
tunate, very unfort innate have paid out money like
river but am not dead yet and don't expect to
be except that may be ph ysically. have been
in worse places before to-day" The following notice
| was posted this afternoon:
Holders of privileges issued by are requested
forthwith to present the for registration and
adjustment at my office, 80 Broad street.
| JAS. 3. KEENEn
Money loaned throughout the day at 156a2 per
cent, the former being the closing rate
Exchange closed Arm. Posted rates 4ssa4sO; actual
rates 4s7z(a4s7 for sixty days, 4ssa4s91< for de-
maHd.
lolosng prices reported the private wires Of
BUNNEhL SCRANTON. Bankers and Brckersl