National Republican., 1884-04-10
THE MARKETS.
A Big Wind Plays Havoc With Stock Opera
tons,
The Market shows UnmistoISabIe Signs
OF Weakness,
snocidl Dip1,tn.

snccidl Dbpr,cn.
New YORK, April 0--The market opened
firm at about yesterdays closing prices and
without any special features. 1t is said that
the granger earnings will show an increase
in grain traffic during the first week in April.
Cammack was said to have been tho largest
buyer yesterday. Brokers say that the mar
ket is waiting for further developments in
Union Pacific and tho trunk lines. In the
meantime the market will probably bo ragged.
1t Is reported that pool has been formed in
II. p. Flowers office for the purpose of ad-
vancing Union Pacific and put the screws TO
the shorts.
Mr.. Endicott has postponed his trip to
Europe, and it is believed that he will not
resign the presidency.
The opinion prevails that the New York
parties will obtain control of affairs at the
june election.
The Philadelphia Press states that tho
trunk line officials are planning new system
to prevent undue competition and the present
tax of Ii per cent. on gross earnings incurred
in securing the business.
The firm of Hogan & Billings, bankers and
specie brokers, made nm assignment yestor-
day. The firm WAS established in 156S. Tho
assignee is unable to make any definite state
ment as to the condition Of the firm at pres.
emit The general stagnation in tho stock
brokerage business and the failure of GUS
toners to respond to calls for moro margins
were the causes Of the failure.
A cyclone struck all the wires between
Baltimore and Philadelphia about IL o. M.
and interrupted all communication with Now
York for the afternoon.
Bv associated Press.
NEW YORK, April 9.-Saes Of stocks
to-day aggregate 203,172 shares, includ-
lug Delaware, Lackawanna and Western,
pD l0H. Erip Il lO0. Mort fh wpSt. non :.
Pacific Mail, 1850; Reading, 1900 st. Paul,
1855; Union Pacific, 66, 100; Western Union,
15,o15; Northern Pacific preferred, 7,123; Ore
gon Transcontinental, $500. Treasury bal.
ances-Coin, $l2l, ,45776l; currency, Slo,4i7-
794.
Speculation at the stock exchange opened
dull, but very firm. In the first fifteen
minutes of business the leading shares re-
corded an advance Of to per cont. Union
Pacific scored the greatest improvement. The
market was benefited by reports that the
trunk line officials we're discussing plan
looking to the adoption of clearing house
system, abolition of fast freight lines and
agencies, &C., which, it is said, will result in
saving of IL per cent. to the roads
composing tho trunk line association. Be-
fore midday q reaction set in, and the
market continued weak until tho close.
Prices declined 2 per cent. for Union Pacific
TO II, IL for Central Pacific to 55i (the lowest
price ever touchcd), IL for Lackawanna to
1913, II for Manitoba to 06, IL for Western
Union to 629, Ii for Omaha preferred to 002
IA for st. Paul to S55, Ia for Canada Southern
to sol, l for Northwest to 115l, II for Mis-
souri, Pacific to S5i and 1 to per cent. for
the other active shares. Pacific Mail was
higher early in the day on the announce
ments that the court of Alabama claims had
awarded the company $2l,06L47 for the de-
struction of coal vessel during the war.
Near the close Central Pacific rallied per
cent. to 56s, and the remainder of the list
showed fractional recovery.
As compared with yesterdays closing,
prices were 4 to 1t per cent. lower.
In investment stocks Fort Wayne rose to
1911 and 1901, aud Cleveland and Pittsburg
to 141.
In the specialties New York, I,ackawanna
and Western rose 2 per cent, to 944 and o.,
and st. Louis and San Francisco firsts pre-
ferred, 22 to 95l. Metropolitan Elevated de-
clined 2 to 101. Railway mortgages were
strong. st. Paul mineral points were the
features, selling up from 99s at the close yes
terday to to 101t, reacting to 1904, recovering
to 1909, and closing at 100t to 100l. Chicago
st. Louis and New Orleans copsols, to 122
Houston and Texas Waco frsts, 81 to 109l
Mobile and Ohio new sixes to 1888. Rich
mond and Danville debentures declined II t
go; Mobile and Ohio second debentures L
to SO.