New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-22
TROUBLE IN WALL-ST. ENDED
MANY RUMORs WITHOUT FoUyDATIoN.
NO PRESIDENT OF THE STOCK EXCHANGE YET

NO PRESIDENT OF THE STOCK EXCHANGE YET.
FEATURES OF THE MARKET
After an exciting week Wall Street has returned
to its natural condition. The Loan Committee Of
the Clearing House has decided not TO make public
the amount of certificates issued by it to the men,
bers of the ASSOCIATION, and the committee sp-
pointed to select a candidate for the vacant pres;-
dency of the Stock Exchange has done little moro
than pass resolution binding its members TO
secrecy. 1t is understood that the Clearing House
Association has issued loan certificates to the ex-
tent of nearly 1900. 900, until some of tho
richest banks have protested against unnecessary
expansion of credits. The Nominating Committee
of the Stock Exchange has held two meetings, bGt
has not found a candidate who will consent 10 ao
cept the vacant Office.
The street not devoid of Tumors Yesterday.
but the stories were based on nothing substantial.
The names of several railroad companies which
were supposed to be in financial straits and Of ono
or two Stock Exchange houses were freely banded
about. 1t was stated az confidently as if some
official action had been taken that the Erie Rail-
road would not pay the June interest on It's second
cOnsols and that the Union Pacific would not only
fail to pay dividend on its stock, but wonld do
fault IN the payment Of interest on Its bonds. So
far as could be learned, the only reason for tho
rumors was the hopes of bears in the securities
OF lHtSc companies.
The only failure announced at the Stock Er-
change was that OF J. l.. Browncll n Co.. and Is
had no perceptblc effect on the course of prices.
II was soon learned that the firm had no liabilities
on the loor OF tie Exchange, and that the imnedi-
ate occasion Of the failure the abstraction or
securities of the firm by one of its customers. Tho
lack of new developments in the Affairs OF tho
recently suspended firms and the general belief that
in every case the worst had been made known wers
considered encouraging signs Tie official az
nounccment that the Louisville and Nashville Rail
road Company would pay its interest obligations on
maturity added to the better feeling The fact that
Russell Sage was accepting stocks " put TO HIM
and accepting notices for delivery to-day IN his
usual manner removed another element OF dia-
turbancc.
The stock market was slightly more active than
on TUESDAY ard although 1t was fevcrlsh all day t
showed really few important changes at the el9sf
Union Pacific was specially weak, and after io's 70
sold at 10, aud rallying to iOi2 siil clcsed per
cent lower than on the previous day lie coat
stocks we're both active and weak. LlckaWaph5
led the market in point of activity. and declining
TO lOI closed only i lower than on tuesday 40
1858. Reading fell nearly per cent to - 4, bns
after a recovery 10 20hs ended with a tlactlonat
final loss Jersey Central suffered from us connrc-
ton with the Reading Company, and IN spite OF
closing rally of / per cent closed per cent loNer
at So Western Union was exceptionally strong.
rising 10 J3s and -. The whole market was lreen-
lar but at the close fairly steady although tho
fluctuations at times were unusually wide.