National Republican., 1884-05-05
THE MARKETS.
Reasons Given for the Slight Improvement
in Prices
A Review of the Weeks BusincsS-Point.
ers-The Grain Market.
Epecint DiapdicH,

NEW YORK, May 3.-The stock market
opened firm and higher, and before 1880 a.
M there was an advance in prices of to II |
per cent, Central and Union Pacific and |
Western Union being tho features. Tho |
improvement was due to official adviccs from |
Omaha to the effect that wages on the Union
Pacific road had been restored last night, !
and all employees had resumed work this
morning, all business proceeding as usual. |
After the first call weaker feeling set in,
Union Pacific breaking II to 55l, Central
Pacific IL to 4sb, and the general list to 7
per cent. Subsequently, under brisk in
quiry, prices moved up to II per cent,
Missouri Pacific being the most conspicuous,
with sales as high as S7l.
After midday Northwest and Canada South
ern were particularly weak, the former drop
ping to 111S and the latter to Al. The
decline was due to drive by the room
traders. II was rumored that some loans on
Northwest had been called. This break
weakened the general market, and prices ran
off 1-21 to IA per cent, Missouri Pacific being
the greatest sufferer. At p. IN. the market
was firm again, but near the close Western
Union sold down to go, and this unsettled
speculation once more. In the final sales
telegraph returned to 605, and the market kept
about steady.
The exports of specie for the week ended
to-day were 50, l43, $685. making a total since
January 1 of $i1, 10000, against S5,571037
for the same time last year.
The total sales of stocks for the week
amount to 2,006,S23 shares, an increase of
327,920 shares.
Railway bonds were strong and higher
The sales of stocks to-day aggregated d3l $40
shares, including tho following Canada
Southern, 6,030 Central Pacific, $3.50; Della
ware, Lackawanna and Western, 3,140; Eric
1900; Kansas and Texas, 1000; Lake Shore,
$500; Louisville and Nashville, 5,100: Mis-
souri, Pacific 26,600; Northwest, 49, 100; North
ern Pacific, 5000; Reading, 25,400; st. Paul,
50S00 Texas Pacific 4,000 Union Pacific,
91314 Western Union, 55,955; Northern Pa
cifc, preferred, 32,11S.
Treasury baiances-Coin, $l2S 1861; cur
rency, $l0,392,795.
The market during the past week has been
variable, and prices have tended downward.
Two prominent features of the week were
the failures of Keene, the large stock oper-
aterl in New York, and heavy dealer in
Chicago. These failures, however, appeared
to have no effect on the market.
number of tho leading speculative
stocks touched lower figures during the lat
ter part of the week than they have touched
before for many years. The principal
causes of these declines are competition, re-
duction in rates of freights and fares on
railways, and the cutting of telegraph
tolls. The fight between the Union
Pacific and its tripartte al
lies and the Chicago, Burlington and
Quincy have not yet been decided. 1t is be-
lieved that Gould has been heavy seller of
stocks and the decline in prices has been
increased and prolonged by tho temper of
some of the most prominent operators who
have been on the bear sido Of the market
The Northern Pacific stocks arc about tho
only one that have advanced, and they were
sent up on the strength of large earnings.
Delaware, Lackawanna and Western has been
held up firmly. In the early part of the
week Reading and the grangers were raided,
the latter on rumor of the rupture of tho
tripartite pool, and there we're liberal sales of
Western Union, Union Pacific and Central
Pacific.
In the railroad bond market the volume of
business was heavier last week than in any
of the three preceding weeks and prices have
fuctuated more, resulting in general
decline
United States bonds have been little more
active this week at fractonally lower prices.
The market for foreign exchange has been
easier, checking in a measure the outflow of
gold.
The past week has been one of much inter-
est to the spectators in cotton for future
delivery at the New York market. There
had been some dullness from apprehension of
free deliveries on May contracts. The weather
at the south, however, showed a great i'm
| provement and the next crop closed lower.
sharp decline under sales to realize, in which
many weak holders were shaken" out. On
Thursday there was q renewed activity and
buoyancy on favorable news from Liverpool,
though part of the early advance was lost
in the later dealings.
Cotton on the spot has been dull and quo
n tations were reduced per cent. ON Monday.
land and cattle company has been formed
to purchase 100000 acres of land from the
Atlantic and Pacific Railroad company and
Gtnn nit Ia 10 IA n
the entire amount will be subscribed and
this reason sgiven for the advance in Atlantic
and Pacific securities.
In view of the oversold condition of the
market sharp rallies may be looked for, and
cautious operators are disinclined to go short
at present,
The strength in North Pacific Is attributed
to the operations of a new bull pool, and the
fact that legislation in Washington is UNI
favorable TO Union and Central Pacific would
materially benefit the North Pacific company,
as no attempt would be made to interfere
with land grant privileges Of North Pacific
II company
The trunk line presidents last week abro-
gated the rule by which the pool commits.
sioher was bound to order reduction of rates
on the demand of any one OF the pool roads
and it was decided that future complaints OF
cutting should be submitted to Commissioner
Fink, who should make examination, and
submit his conclusions to the pool executive
COMMITTEES, which alone has pewer to take
~ action in such an emergency.
The room traders were the principal sellers
OF stocks. Union Pacific was bid up by Quick,
Cox, Durant, Bowen, and Willard, each OF
whom bought 200 to 1000 shares Pearsall
"A & Co. also bought Union Pacific, and the SELL
ing was scattering, James Boyd bought some
II Union Pacific at SOY. Kirkner and Gwynne
d Day bought st. Paul; b. Raymond sold;
Horton sold 500 Union Pacific ut 50g; Bissei
& Treichel bought Oregon Transcontinel;
y Chase & Higginson bought Northern Pacific
preferred.
~ BALTIMORE STOCK HARKEr
BALTIMORE May 3.-Vlrglnia 6s deferred 7
W do consolidated, l0 do. second series, 3Il5 mas
i due coupons, Al; new l0-4Os, 33l bid to-day
M GOVERNMENT BuSDA
M United states 4gs, 1901 rcglstcred li5G "iiinit
M United states AIS lS9l coupon, ,...,". 1884 li8l