National Republican., 1884-09-13
TIE MARKETS.
A Raid on Erie Seconds tho Only Fen-
turo OF tho Nay In wall STREET
Trading In Baltimore.

A Raid on Erie Seconds tho Only Fea-
Trading i'm Baltimore.
New YORK, Sept. 12.-Tho opening in
the stock market was dull but fraction
ally higher, Western Union leading with
4 advance. There was drive made on
Erie seconds, which closed yesterday at
COZ, and they sold down to 57l, upon ru-
mors that London was selling freely, and
untavorablc reports from tho recent Eng.
lish committee.
Aftcr the first hour decline SGT in and
continued till o'clock, when prices were
to IL below the opening on oil active
stocks, the grangors weakest and the trad
ing extremely dull. During tho last hours
business prices improved fractionally, but
the closing tono was weak,
Excepting the raid OIL Erie seconds tho
trading to-day was foatureless. The Erie
committees report, published in London
to-day, makes Eries floating debt over
$l1 100000.
There were very few largo traders in
town last night, but tho impression pro.
vailed that wo would see higher stock
market IL was reported that tho Read
ing bulls were trying to induce new
short interest, and in the meantime prices
were more likoly to advance for the next
two or throe days.
Harrison Durkee was active in distrib-
uting bull points on Western Union last
evening, and advising his friends to buy
and hold for tho dividends. The bears
say this is suro sign that old Gould is
unloading, but large bets have been made
that Western Union will cross 20 inside of
o week.
President Keen, of the Reading, tells
his friends hero that tho report that Read
ing has sold out its Jersey Central stock
is lie.
The brokers of Smith & WoerishoefTer
declare that they are doing very little,
and it is also said that the Osborne people
have been out of stocks for the past
month. Mr.. Morgan continues very
bullish, and was buying Union Pacific,
Western Union, st. Paul, and Northwest
ern yesterday.
Somebody supplied a batch of Northwest
ern yesterday which was rather annoying
TO Lavonburgh aud the Morgan following.
Still they believed last night that it was
the best buy of any of tho Grangers to
hold.
One of the directors of tho Northwestern
said that the business was very large and
remunerative, but no sane man could
expect to sec any increase in tho receipts
until November, because tho traffic last
| fall was enormous.
Ii. Is. Claain & Co. made drive saio at
very low prices yesterday on fancy prints,
not standard goods.
A Philadelphia dispatch says: ut is
strongly intimated that other roads stand
ready to guarantee 6 per cent to the Jer-
sey Central should the Reading company
lose its hold on the road.
Northern Pacific preferred is weaker
in Philadelphia to-day on tho retirement
of Morgan.
A Chicago special says: Yesterdays
floods in the Chippewa valley caused a
loss to the Milwaukee and st. Paul road
of million dollars. Wadsworth, the
vice president of the road, says the loss
will not exceed 100000.
1t Is reported that at tho meeting OF
trunk limos to-day it may be decided to
reduce prices to tho cut rates.
Erie seconds we're sold in large blocks
by Q. A. Johnes and London arbitrage
brokers on reports that the recently
appointed committee to investigate the
condition of the company's affairs had
submitted its report to the London stock
holders and that the report is of a de-
cidedly unfavorable character. 1t Is init
mated in this report that, owing to a
decrease in the company's earnings, no
interest will be paid on tho seconds for
some time to come.
Boston, MASS, Sept. 12.--The earnings
of tho Union Pacific railroad for July were
$2,3SS, ,343; operating expenses, 81, ,063. .693
which is o gain OF $4,000 in the net re
suit for the month. a4
| Quotations OF Fridays Stock Sales.
Inaa haxy a.
man - Co. bankers, 14ll + street, being the
most active stocks in the New York exchange: