National Republican. (Washington City (D.C.)) 1872-1888, 1884-02-12
THE MARKETS.
Stocks Begin to Tumble, but the Decline
Promptly Checked.
The Big Spectators Continue TO Talk
Very BuIIish, However.
spscial Dtsbdicf.

specfal DtsDdtcn.
NEW YORK, Feb. 1.-THE stock market
opened steady but soon fell of on
heavy selling Oregon Transcontinental by
the bears and heavy European sell
ing of the Vanderbilts by arbitrsge brokers.
At II o'clock orders came in and the market
advanced under the lead Of the Canada
Southern, Northwestern, Delaware and Lack
awana, and the Gould stocks. The market
was dull and strong until 2 o'clock, when
Boston reports Of heavy decline in the net
earnings of the Union Pacific for December
caused selling and marked reaction began
especially In Union Pacific Rock Island, and
Chicago, Burlington and Quincy were adj
vanced by the cliques. At 2:30 the market
was weak under a strong pressure to sell
Oregon Transcontinental and Union Pacific
and the decline continued up TO tho close I'M
der free offerings of these stocks
Traders say that this week would show that
the pools had sold considerable st. Paul,
Union Pacific, and even Delaware, Lacka-
wanna and Western on Saturday, but at the
Same time they bought Lake Shore, New York
Central, Canada Southern, and Northwestern
common.
There are good many predictions Of higher
prices this week for telegraph
Sam Sloan says that the bonded indebted
ness of Delaware and Lackawanna was only
100000, and the coal property had never
been placed ID the assets higher than $4,000
600, although they are worth $50 100000 now.
Vanderbilt is very bullish on Lake Shore,
but wants only a moderate general advance
at present The Vanderbilt people say o
great deal of New York Central stock sold
during the past six months owing TO the West
Shore scare has been bought back by the same
parties during the past month.
Brokers in West Shore bonds believe Van
L.. -. hos NnV M tfnlNr
but they have no voting power and would
only control the road in case of default OF
interest.
Gould said yesterday that goods stocks
were very hard to get and that he and Van
derbilt bought only Insignificant amounts in
order to start tho advance movement. he
did not believe in rise based upon twisting
the shorts and said the present rise is due to
low prices which good stocks stood at. After
a further rise of to 10 per cent he believed
bears would turn bulls
Commissioner Fink says there is q vast &C.
emulation of grain and provisions in the
west, and that tho railroads will carry the
bulk of it before the opening of navigation
If tho produce market falls to shipping
values. Sage says the Northern Pacific stocks
will be higher this week.
None of the foreign houses or the banks
report any gold packed or ordered for ship
ment and SEQ no logical reason why we
ohlp uhJ SOholuSlhplO ahOuhp Va BOlu
The Lackawanna officials are discussing the
policy of paying an extra dividend or in.
creasing regular dividend.
Sales of stocks to-day aggregated 4s6,41t
shares, including the following: Canada
Southern, 1880; Central Pacific, 6,491; Della
ware, Lackawanna and Western, 70,450; Erie
12,400 Kansas and Texas, $500; Lake Shore
1900; Missouri Pacific, 23,707; Northwestern
1900; New York Central, 1879; Pacific Mail
5000; Reading, $500; ST. Paul, 65,s70; Texas
Union, 25,265; Northern Pacific preferred
1881; Chicago, Burlington and Quincy, 6, 433
Delaware and Hudson. 1875.
STOCKS.
The following are the opening, highest
lowest, and closing prices Of the principal
stocks for the day, as corrected by special wire
reports received by Batemsn g. Co., bankers
No. l41l 4 street northwest: ...,,,.,-,g.,,. -