National Republican. (Washington City (D.C.)) 1872-1888, 1884-08-26
THE MARK ETS.
Tho Opening Excited, With Decided Pressure
to Scll-A Subsequent Advance in Prices
and n Firm rInainr..Iinanin NJ TN airanA

Iho opening Excited, Win Decided Pressure |
to Sell-A Subsequent Advance in Prices
and a Firm Closing Gossip OF the street.
NEW YORK, Aug. 2j.--The stock market to-
day opened excited and with a decided pres
sure TO sell In the first hour of business hero
was decline Of a to per cent, the latter In
Union Pacific, which broke to 4sIs. Reports
of n trunk line war were again used to depress
| the market In the afternoon IL became cyl
| dent that there were buying orders In the
| room, and later on 1t transpired that the lead
| Ing bulls being satisfied with the reaction of
Saturday ana this morning were once more
buyers, Many operators who have held OIL on
| account Of the recent rapid rise In prices were
| also purchasers to-day. This resulted In an
advance of = to 2lS per cent. The market
closed firm. Compared with Saturday closing
Missouri Pacific Reading, and Western Union,
bonds were weak In the early dealings, but
closed tirmer.
George Deckcstou has been hammering ST.
Paul. The largest sellers Of Union Pacific
have been Prince and Whitley, II. Durand,
VIM. II. 8. Wilson & Bros, and the buyers
were Johnes and A. II. Baldwin.
The Bloodgood people say gWestcrn Union
and Union Pacific are great purchase the lat
ter for company. They think the market was
put up, too fast last week aud they opposed
this policy,
The eastern railroads look for lively war
this week. II is certain that either to-day or
tomorrow, an open war on passenger rates to
the seaboard VIII begin and be one ofthe most
determined ever fought.
X. Weinych, large sugar dealer and rchner,
has become embarrassed, with liabilities of
81 600, 000,000 The failure Is attributed to over
production Of beet root sugar.
The report that the decline in Union Pacific
was due TO the calling In Of loans by the banks
il denied.
A large operator Is reported to have made a
private settlement with Gould to cover his
shorts. This, however, was denied also. but
Is generally believed by those well informed
III Is understood that upon this settlement in
side parties marketed considerable stock, and
the decline was aided by the room traders
and further drop may be looked for, rs the
policy of the bull leaders Is to induce an in
crease Of the short interest, which has been
largely eliminated during the recent rise.
Commissioner Fink Is reported As saying
that the cutting Of passenger rates may posi-
bly, continue until next month, by which time
the roads will find out that rate cutting does
not pay. Meanwhile the pool OF freight rates
Will be continued
: A Saratoga special says tho sentiment there
is bearish. At Long Branch yesterday ma
iority Of the stock traders and the street spccu-
lators generally wero talking decidedly bear
ish on the market, and everybody had, or
claimed to have, n sure tip to sell Union Pa
: cific short. Some of the bears went SO far as
TO state that Gould had passed the word ia
Cammack aud Woerisholler that he was
through with his deal In the market for the
present, but people who are on intimate
friendly terms with Gould say they heard him
remark, amer the board closed Saturday, that
there had been no cause for the break III
prices There was no bad news from any
quarter the reaction had been healthy, and he
predicted that the general market would close
= higher again this afternoon He further said
he thought the brokers should not complain
over the reaction because they made now bust
ness and larger commissions.
Schepp offered u few hundred shares o
Union Pacific In the street after the closing o
the board Saturday afternoon "a below thu
closing quotations.
The bulls ON the Changers and on Unior
. Pacific declare that the Trunk Line difference
should have no depressing effect on the prop
critics west of Chicago
1t is stated that Commissioner Fink will b,
requested to-day or tomorrow to call confer
ence of Trunk Line people to harmonic ex
isting differences, and the meeting will b.
held at Saratoga or Niagara Falls. Victor New
comb, James Seligman, and Harvey Kennel
said yesterday that they believed the genera
market would be higher before the week wa
out than they were last week.
Henry n. Smith denied that he had mad
any private settlement with Mr.. Gould Il
Union Pacific, and declared that his entire IN
tcrest on the short side lately had been onl
1000 shares altogether.
Woerisoifer remained at Long Branch o.
Saturday, and his friends say he was in Mig
l. gee over the break IN Union Pacific andNh
weakness in the Vanderbilt. lie offered
bet that New York Central would sell at b
next year.
The east-bound trunk line tonnage last wee
increased 5000 tons; total shipment "a, 600 tons
- Victor Newcomb has been buying Manhatta
new consolidated, and the point Ia given tina
this stock will be put to 80 before Saturday.
+ Quotations or MONDAYS Stock Sales.
The following have been furnished by Bate