National Republican., 1884-06-20
THE MARKETS.
Congressional Stock JObbing Legislation Driv-
ing Union Pacific Down Hill
thcr stocks Drop or a Little in SYM
pathy.

New YORK, June 10.-The market opened
comparatively firm for some shares and a
shade higher for others. The frmness, how
ever, did not last long, and on the Grst call
weaker tone prevailed, owing to sharp
decline in the Vanderbilt shares, which broke
3per cent for Lake Shore to 7s2, 81 for Now
York Central to 1909, and IL for Canada
Southern to 34l. These stocks were unfavor-
ably affected by reports that tho Lake Shore
earnings for the past quarter were equal only
TO seVon-eighths of per cent on the capital
tock, and, in consequence, no dividend would
be declared. Speculation was also adversely
Influenced by the passing of the Thompson
DILL aud on reports that tho paper of q we'll
known railway capitalist had gone to pro-
test.
In the forenoon there was rally of to
per cent, but in the final salos Lake Shore
fell of to 7st, Northwestern to 90l, Rock
Island to 1868, aud Omaha to 26l, all the
lowest prices of the day, whilo Canadian
Pacific rose to 40i and Missouri Pacific to 9l2.
The borrowing demand for stocks continues
good and all the leading shares command a
premium. Railway bonds were irregular.
There were some sharp changes in the
speculative issues in tho early dealings
generally in the direction of lower prices, but
at the close frmor tone prevailed.
East Tennessee consols dropped II TO 534
aud recovered to 81.
The sales Of stocks to-day aggregated 431,-
493 shares, including tho following: Cen
trail Pacific, d,110; Delaware, Lackawanna and
Western, 50,930; Erie, 1890; Lake Shore,
sl,720; Louisville and Nashville, 1850; Mis-
souri, Pacific, 1l,500 Northwestern, 81, ,ii0;
New York Central, 1855; st. Paul, $1,000;
Union Pacific AZ, i60 Western Union, 1915;
Northern Pacific preferred, 5000. Sub
treasury balances-Coin, $l23,3l3, ia; cur
renCy, SlOl65,563
The joint conference of Baltimore and
Ohio, Postal, and Bankers and Merchants
Telegraph companies refuse to impart in
formation concerning their consolidation
meeting to-day, but it is understood that ID.
II. Bates will bo at tho head Of the combina-
tion opposition.
Bankers and Merchants telegraph stock
was offered without buyers at 30 TODAY.
Washington special says: Senator Morgan
says there is deficiency Of $4,000 900 among
New York banks. and that clearing house
certificates are held by banks as part of their
reserves.
1t is claimed that if the Lake Shore stock
holders discover Vanderbilt has been the
seller of stock that the purchase the Nickel
Plate road will bo litigated
1t was rumored on the stock exchange that
Commodore Garrison had made an assign
ment, but it is not true. Railroad paper on
which ho was indorser has been protested
and must be extended.
1t is reported in the board that the selling
of the Nanderbilts is for the account OF in
siders and that bears houses are used to con-
vey the idea that the sales are short.
Tho opening was fractionally higher, eX-
cept for Lake Shore, Western Union, Reading,
and the Omahas. Lake Shore was very
active, with free offerings, causing a decline
of per cent. by noon, with other active
stocks sympathizing to the extent of one point.
The market was mainly traders" one,
although many reports were circulated of In
side selling in Lake Shore and New York
Central.
In the afternoon Union Pacific was the
feature. Reports Of unfavorable congressional
action drove the price 2 per cent. below tho
opening Now York Central, st. Paul, and
Lackawanna We're weak
After 2;l5 p. m the usual reaction set in
and prices recovered fractionally, then de-
clned, finally closing weak with more sellers
than buyers.
The principal changes of the day were
Advanced, Erie, /; Denver, t. Declined,
Northwestern, IL; St. Paul. Ia; Central Pa
cifc, }; Western Union Il Reading, /; Della.
ware and Lackawanna, !; Northern Pacific
preferred, 4; Oregon Transcontinental, Il
Chicago, Burlington, and Quincy, 10; Kansas
and Texas, /; Omaha, IL; Omaha preferred
IL Illinois, I. Bonds inactive, fractionally
lower. Sterling exchange dull. J lower on
reported gold shipments hence from London
Money very easy, 2; closing, II.
Chicago dispatch says: Warm rains
seems to relieve the bulls from anxiety as tc
crops, and they are quietly selling. 1t Is
market will bo lower. We cannot advise
otherwise than to sell on bulges.
STOCKS.
Following arc opening, highest, lowest. and
closing prices of principal stocks us corrected by
special wire reports received by Bateman Il Co
II M