National Republican., 1884-08-12
TUK MARKETS.
A Bank Suspension Causes Decline In Stocks
The Tumble Checked, but the Market Closes
Weak-What is Said by Financlers.

Bank Suspension Causes Decline In Stocks
The Tumble Checked, but the MARKET Closes
wesk-whst is Said by Financlers.
NEW YORK, Aug. 1.-THE market opened
feyerish over the suspension Of the Wall Street
bank, and tho declines extended TO "a for
New York Central and tho Vanderbllts. Other
active stocks were and u lower than at satur.
days closing. Sustaining orders soon poured
in, the market rallied, and tho losses recovered
all within the first ifeon minutes. When the
market grew steady Il Immediately dulled, tho
bulls being content 10 hold the market rom
breaking and the bears dlsinclincd TO soil short
until the real status Of the banks failure be-
came known. There was very little trading,
with fractional declines from the opening fig
urcs between noon and 2.i5. Soon amer deliv.
cry hour the bears began 10 drive at tho entire
list, and prices broke Y and ~,
At $50 the bulls rallied and tried to force n
better closing tone, but the weakness IN the
Vanderbilts made this difficult and the closing
was weak, with plenty of oilcrH 10 sell Mt the
declines. Bonds Inactive, fraCtionally lower.
Sterling exchange dull and unchanged. Money
2to 1, closing atl.
The Gould following "a doing very little. II
is not believed on the board that certain spc.
cialtios were being marked up by clique
brokers In order to facilitate the selling of
long stock. sloan, president OF Delaware,
lackawanna and Western, says all coal roads
have agreed to stop mining coal during tho
flrst week OF September. This Will strengthen
the market aud Mr., Sloan conelders the out.
look for business rcnssuring and feels that
there will DO perfect harmony among the coal
roads and no cutting OF rates.
Mr.. c. II. Tlmpson says, relative 60 closing OF
Wall Street bank: Tho trouble arises from
the cashier loaning money freely on insuhi
cient securities, and securities which now
have very little market value. was one o
the committee appointed 10 examine into the
condition OF the banks affairs, insisted that
in view OF the circumstances, an account
should be rendered, pending which the banh
has closed It's doors. SO far as rumots con
cern this house &C.. +. Timpson & Coz ! car
emphatically say that the bank, outside Of the
small Insignificant deposit, does not owe us 1
single dollar. The banks depositors Will b,
paid In full, and the bank will bo able tc
straighten out Its affairs"
Some importance is attached to the fact thu
the new certificates Of stock OF Union Paclil,
| Railroad company In name Of John Bloodg0od
d Co. and other prominent houses nre on thu
| street.
John Bloodgood says tho reason the new
| stock being delivered ls that since the ScOvil
| irregularities II has been deemed advisabl,
| by his firm to have transferred TO its name an!
and all securities purchased by them. Consc
quently the delivery Of new certificates has M
| Importance attached. Other conservative
houses offer like explanation.
Quotations or Mondays Stock Sales.
The following have bcen furnished by Bate
| man q Co., bankers, la1l y street, bolng the
| most active stocks In the New York exchange;