National Republican. (Washington City (D.C.)) 1872-1888, 1884-05-22
THE MARKETS.
Prices Of Stocks Dance Up and Down in a
Most Confusing Manner.
Everybody SIN Anxious to Know What
vanderbilt VIII Do.

New York, May 2l..-Tho share specula-
tion to-day was exceedingly erratiC. At times
the market was positively strong, and again at
intervals there were periods Of depression
During the morning there were rumors ailoat
that certain large houses were in troubles
that their suspension was likely. Subse-
quontly tho failure of a small stock concern
was mado public but no other suspensions of
firms were announced. The market opened
irregular but lower, and then advanced to l
per cent. Before the first call o vigorous attack
was mado OH tho coal shares, and round
amounts of long stock were shaken out. Tho |
shares were depressed on reports that tho
question Of curtailment Of production during |
June would probably result in tho disruption |
of the coal combination. Reading and Jersey |
Central were also affected by tho issuance Of |
scrip by tho former company. Tho general
market declined sharply in sympathy with
the break in the anthracite coal shares. Canada
Southern dropped IL to 81; Northwestern, IL
to 1909; Missouri Pacific, 81 to 633; Now
York Central 1 to 1924; Northern Pacifi
preferred, 81 to 45 Oregon Transcontin entail,
1t to 1896 Pacific Mail TO 36}; Union Pa
cifc II to 42, and Western Union, IL to 80.
The last mentioned soon became strong,
rising "a to 55s, and this changed the tenn per
of speculation and q sharp demand set in for
all tho active stocks, prices moving up to q
per cent.
In the afternoon the failure Of tho Pom
bank of Pittsburg was reported and this
occasioned fresh selling movement 1t was
also rumored that institutions at Philadelphia
were in trouble.
Near p. IN. there was sudden and sharp
change for tho better, and many of the lead
ing stocks commanded premium for uso.
In the improvement Northwestern, ST.
Paul, Lackawanra, Louisville and Nashville,
Lake Shore, Missouri Pacific, Pacific Mail,
and Western Union were most prominent,
and advanced to tho highest point of the day.
Near tho close Union Pacific was hammered
down to 40 by one Of the leading bear opera
tors. Private advices were received from
Omaha to the effect that Ames and Adams, Of
the Union Pacific, had found the affairs Of
tho Union Pacific In n much worse condition
than expected, and that they were utterly
helpless to improve the situation. The Off
cial advices, however. were exactly TO the
contrary. The drop in Union Pacific caused
decline of to IL per cent in the general
list. The market closed irregular, with
Western Union noticeably strong at 55.
1t is reported that tho short interest in the
market has been increased during tho past
two days, mostly by tho room operators
rather than by the largo bear houses.
The Boston Transcript says tho April earn.
ings of the Union Pacific promise to showa
decrease of between 100000 and 100000,
making about 100000 loss since Jan. L.
Charles Head & Co., in their circular letter.
say the decline in Missouri Pacific was due to
Sages attempts to realize on his holdings
Mr.. Sage's delay in settling his outstanding
contracts, and its effect on the market arc
severely criticised. a prominent banker
said to-day that he believed
the trouble over sages puts" had caused
great uneasiness in stock exchange. Had no
met his obligations promptly, tho large
holders would have shown no anxiety to
"pnt" stocks, q number of the privileges run
ming until September and October. 1t was
stated last evening that at conference held
between Sage. Gould and Conner the former
had decided to open his doors this morning
and take all stock delivered. The morning
papers say this statement was handed to the
reporters OF the close of the conference near
midnight
A London special says; With tho exception
of Atlantic and Great Western seconds
which advanced \, tho market for American
securities shows further decline Of 4 to "a
per cent. Tho additional details affecting tho
integrity of the corporate management of tho
financial and railroad institutions had most
demoralizing effect. Vanderbilt has had time
to consider his cables from Now York and
the financial situation hore, but has not mani
tested his intention regarding tho market.
The effect of his operations will BIO felt in
New York before it is known in London.
London is buying sparingly. Won Hoffman
says our advices (roferring to European &C.
count are mixed. We are trading in small
lots for both accounts.
J. l.. Brownell 81 Co., q small house, has
failed.
Russell Sage is receiving notices of stock to
be put to HIM TOMORROW. He had quantity
of Northwestern put to him to-day. The
privilege on the stock was issued four months
since at 1918, expiring this week.
Directors of Pacific Mail will close their
transfer books at 3 p. M. on the ODD instant
for the election on tho following Wednesday
There has been considerable scalping to-day
The Liverpool people sold at tho opening, and
tho Germans bought sparingly. To-day's port
receipts are the smallest at this time of the
year for many years. The market is sensi-
tive to Wall street rumors, and sympathizes
with stock fluctuations The feeling Of traders
Is mixed.
Sales of stocks to-day aggregate 435, 261
shares, including the following: Delaware,
Lackawanna and Western, 81, SOY; Denver and
Rio Grande 4,445; Erie, 1l51O; Kansas and
Texas, 4O,00l Lake Shore, 20375 Louisville
and Nashville, 1880; Missouri Pacific, e.
$40; Memphis and Charleston. $500; North
west. 1880; New Jersey Central, 4,O5O ;
New York Central, 1880 Pacific Mail, 8, SS5 |;
Reading, ,l5,930; st. Paul, $3.50; Union
Pacific, 56,660; Western Union, 3S,635
Northern Pacific preferred 1886; Oregon
Transcontinental, 6,lO0.
GRAIN AND PROVISIONS.
Following are opening, highest lowest, and clos
ing prices on Chicago board Of trade Us corrected
by special wire reports to Cooke Il Co., brokers: