National Republican., 1884-10-06
THE MARKETS.
A Review Of the Business OF the Wock--Gosslp
Of the Stock Rxchango--Tradlng In New
York and Chicnao

A Review OF the Business OF the Woek-Gosslp
Of the Stock Exchangc--Tradlng In New
York and Chicago.
NEW YORK, Oct i.--rho fact that the second
month Of autumn is reached without amy nota-
able increase of failures among merchants or
manufacturers is most favorable sign, and
hcncciorth business ought to show decided
increase In volume. Speculation on the stock
exchange has been very erratic, and prices
have iluctuated widely. During tho early
part of the week considerable strength was
manifested, and this developed on Tuesday
into an active and almost buoyant market.
The strength was pretty general throughout
the list, and material advances were made
over the prices ruling at the close OF the previ-
Gus week. The improvement however has
not been maintained and the market has be-
come dull and dropping, part OF the advance
being lost.
1t was expected that the issue ofdobenturc
bonds by Now York Central which was
definitely announced last Friday, would have
q depressing effect on the Nandorblts but
those stocks yielded but slightly, and have
since followed the general course OF tho
market. The most important feature, and In
iact the only ono of much Significance, mas
been the trunk linc situation east and west.
Inc affairs of these associations have been ina
somewhat muddlGd condition, but rates on
east-bound freight have now been fully
restored ut Chicago to ~ cents basis on grain
and 20 cents basis on provisions, and the trunk
line officers in New York have settled matters
WIN the grand trunk on an anicablo basis
which, 1t sums probable, may lead to
stronger alliance IN the future.
Tho effect on the agreement among the
trunk lines seems to have been discounted be-
lorehand, as the market to-day was excessively
dull and prices barely steady.
Louisville and Nashville has been weaker
lNn ala IL, lV.oV al
| issue the S5,0000O0 of common stock instead of
new preferred stock.
The railroad bond market has shown a de-
| cided Improvement this week, II having been
more active and prices generally strong
| especially for the more speculative classes.
| The principal features, as usual. have been the
Erlc seconds and West Shores, both of which
were strong
The transactions In government bonds has
boon small ana pricesstrong early In the week,
but have since given way.
Sterling exchange has been very quiet and
weak.
| Judge Donohue has authorized the receivers
| of the Bankers and Merchants Telegraph
| company to issu certificates for soO,00O, the
| money derived from them to be used In the
| payment of salaries and the running expenses
the business. The certificates arc to be first
Liens on the property in the hands of the
| receivers.
Jay Gould, Sidney Dillon, and j., B. Rcd
| field have resigned as directors of the North
western railroad. VIM. X. Vanderbilt, Horace
Williams, and d. p. Kimball were elected TO
| I'LL the vacancies.
Cotton speculation for future delivery dur
| ing the past week has been more active
| showing at times considerable excitement.
| The fluctuations in prices have been wider
than usual and not without irregularity.
Erie a higher Erie seconds "a. A good
many points were given quietly by prominent
traders who control the market to buy stocks
this morning for another advance which was
promised for today or Monday.
lt was intimatcd that Gould stocks, st. Paul,
and possibly one or two of the trunk line
stocks would lead the movement and all the
grangers would follow suit, after the muddlt
west OF Chicago on rates Is settled
ID. !. Morgan continues bullish on Northern
Pacific stocks, and says the vice president o
this road told him thnt while the September
increase in gross receipts was only Si2,O 900 tn,
net increase was Sl50,0O0. There was stron(
buying by prominent houses of Ohio Southern
Cammaok denied that he had been selling
Northwestern short, and he is doing nothing
now,
There was q report current in the stock ex
change that n powerful bull pool had beef
formed in London to buy Central Pacific stock
The Vanderbilt brokers bought Lake Shor
and West Shore bonds this morning.
a Philadelphia dispatch says; The Northern
Pacific syndicate has decided not to take tht
remaining $4,000 900 of second mortgage bonds
the option on which has just expired. Thi
fact has caused the weakness lately in share
OF the company.
Chicago dispatch says The war on ives
bound passenger rates is spreading among thu
roads to the Missouri river. East bound rate
have not been fully restored, an advance no
having been made In cattle rate.