National Republican. (Washington City (D.C.)) 1872-1888, 1884-06-17
THE MARKETS.
Prices a Shade Lower, But the Tone Some
what Better.
Important Meetings which are Likely
90 Effect the Pncifics.

New YORK, June 16-The week opened
with strong and higher market for stocks.
Western Union was the feature, and rose IL
per cont. to 632 on an increased business.
Union Pacific was in fair demand, and sold
up II to ana. The other active shares i'd
vanced 1 to per cont, tho latter in st. Paul.
Before 1880 p. IN. tho bears and room traders
made raid on Union Pacific and Northern
Pacific preferred forcing tho former down
to 800 and the latter to d4!. This was sue
ceoded by q rally, but in tho afternoon the
whole market was lower again.
After p. M moderate buying movement
set in, and prices rallied to per cont,
Missouri Pacific, Western Union, and Union
Pacific being most prominent In the recovery.
Noar the close Lackawanna fell Otto 1924, but
in the final dealings the market was steady to
firm. Railway bonds were unsettled.
The sales of stocks to-day aggregated 217,-
643 shares, including the following: Della
ware, Lackawanna and Western, 36, 22j Lake
Shore, II ,345; Louisville aud Nashville0 $780,
Missouri Pacific, IL 500; Northwestern, 5000;
New York Central, 6,i20: st. Paul, 2i,905;
Union Pacific, 1895; Western Union, 25 ,295;
Northern Pacific preferred, 1919; Oregon
Transcontinontal, $500. Treasury balances
Coin, 1926, i20,614 currency, $0,799756.
Mr.. Vanderbilt has not yet said what course
he will pursue in the market, but his friends
hope no will support his specialties Bear
rumors on Union Pacific continue numerous,
one intimsting receivership, another that
Dillon retires and Charles Francis Adams
succeeds as president.
The Oregon Railway and Navigation,
Oregon Improvements. and Oregon Transcon-
tinental companies will hold annual meetings
at Portland, Oregon, to-day, and the result
will affect the Northern Pacific. The situa-
tim ne repardg Nnftharn Pacific Nyas statpI
~ q prominent railroad official as follows;
Drexel & Morgan hold proxies for $4,000,
600 of the stock of Oregon Railway and Nav
igation company, being controlling interest,
and the vote will show whether il is friendly
to Northern Pacific or otherwise.
AS the Union Pacific will mako early con-
necton with the Oregon Railway and Navi-
cation company 1t is of tho highest impor-
lance that the Northern Pacific should secure
control of the Oregon Railway and Naviga-
ton company, otherwise it Will have no coast
outlet except upon tho same terms as the
Union Pacific,
1t was reported last evening that the
younger Nanderbilts had unioaded their
Delaware, Lackawanna and Western, and il
is stated that new bull pool has been formed
in ST. Paul
Considerable anxiety Is manifested con-
corning tho Union Pacific report promised
for to-day. The short interest Is large and
net earnings for May will show decrease OF
S350,000. which they say will increase the
falling off since Jan. S2,225, 900 to date.
There will BIO no meeting of the directors
of the Denver road to pass upon the question
of the July interest until President Loyejoy
arrives next week.
A protest has been filed against the Union
Pacific report by railroad people, who claim
that 1t is unjust. Secretary Teller will dc.
eide, after examination, whether to send II
back or not. Charles Francis Adams has
asked for hearing
Northern Pacific and tho Oregon stocks
are weak on rumor that to-day's meeting
would be in favor of leasing the Oregon Rail.
way and Navigation company to the Union
Pacific, but this is ridiculed by the repro
sentative Oregon Transcontinental holders
here, who are adverse to any such action, and
that the Oregon Transcontinental stockhold'
ers would not sanction any such arrangement
Tho stock market opened to-day fraction
ally higher for New York Central, Lake
Shore, Delaware md Lackawanna, Texas
Western Union, and Omaha common and
preferred. Other active stocks averaged
lower than Saturdays closing. Up to noon
Union Pacific was most active advancing
above the opening, and the active list grew
very steady. In the afternoon tho ex-Vil
lards sold off per cont. upon rumors of the
proposed leasing of tho Oregon Railway and
Navigation company to tho Union Pacific
also receivership for the Oregon Transconti
mental. Both these rumors were denied by
the Oregon Transcontinental representative
here. The decline in these stocks affected
the whole list and trading dropped, very lit
tie being done in the last hour, although tn,
tone was fairly good at the declines noted
Bonds are lower under large sales OF Eric
seconds and West Shores.
Sterling exchange is dull, but Saturday
advance maintained. Money 3 and q; clos
ing 81.
Orleans affected our cotton market for de
cline. Liverpool is doing but little aud give
us no strength If prices decline it will
induce freer sales of spots cotton. Tn
closing tone was very weak.
COTTON MARKET.
The following were opening, highest, lowest
and closing prices: