New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-06
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MONEY IND BUSINESS

Dead speculation in the stock market and
lack of animation in almost all other markets,
were the characteristic features of week
peculiarly crowded with events that were cal
culated, sooner or later, TO affect the values
both of stocks and of products in no small
degree. At the stock market, after some ex
element in Pacific Mail the closing price was
only III below that of the preceding week
after the lease of the Central Pacific that stock
closed only 2, lower, and Union Pacific 49,
lower; after the appointment of n receiver for
the Nickel Plate, the Lake Shore closed only
lis lower; the delay in meeting interest caused
decline Of only | in Jersey Central, and the
proposal to give preferred stock in place of
bonds caused West Shore frsts to decline 3ss,
though there was much appearance of reason in
the report that the preferred stock with reor-
ganization would be worth more than a mort
gage on part of the property, which could
only be enforced by prolonged and costly ltiga-
ton. The market was not in the humOr to
answer by ready changes to any legitimate in
fuence whatever Speculative influences of the
clique variety controlled prices even more than
usual 1t was reasoned that the burning Of a
town did not destroy Pacific Mail steamship
of the same name, and that the action of the
Government would speedily open the lsthmus
to travel that the combination of the Central
and Southern Pacific changed nothing in the
postion of those companies, and only
threatened Union Pacific; that the Lake Shore
could not afford to have the Nickel Plate fore
closed, and controlled as a rival and that the
court would doubtless order the payment of the
Jersey Central interest. as the master had
| nI thstou tha n1,;oot,n,
of bondhoders The Northwestern stocks did
| not change much, and tho fall OF 2ls cents in
Lackawanna was not regarded as having any
especial significance.
Nor were the other speculative markets
greatly changed though the general tendency
was downward. Wheat fell from G1ai to 90
for elevator No 2, in account of more peaceful
news, but closed at 90l2; in corn the fall was
| less than l cent, and In oats insignificant
Lard declined TO ITO and pork to $13, talow
to 57s, and sugar to 46s for fair cargOes butter
cheese and eggs were lower, and OIL after u
very dull week, dropped on Saturday because
| of the revived productveness of well extend
ing the field, closing at 1884 at Titusville. In
| the real estate market dulness prevailed,
though greater activity ia expected this week.
The dry goods trade was still Disappointing
and print cloths dropped to 3.07 cents, notwith-
standing cotton was maintained at Ills for
middling uplands. No marked change came
TO give relief in the iron or coal trade, and il il
stated that the Delaware and Hudson offers
lump, steamer, crate and egg coal at So 20 Der
ton, pea at 81 60, and buckwheat at 81 20.
Pig iron is less firm. and merchant bar, best re-
fined, is quoted at 81 70@S1 So Lead is
sragnant, tin 1712, and Chill bars, after falling
to G44 IFS Cd, March 80, recovered about 10
shillings, Lake being sold here at $40 co.
The eruption of little wars all over the world
seemed to be natural result of the dulness of
business everywhere; since people can neither
trade nor work, they fall to fighting The
Northwestern outbreak may have an important
effect on the prosperity of our Canadian neigh
bors. and the Panama instruction disturbs
some important American and French interests,
prompting our Government to speedy action,
while France, sufficiently engaged other
wise, somewhat angrily repulses the APP
peal made by NJ. De Lesseps. The de-
feat aud death of Barrios promises to
restore peace without delay in Central Ameri-
ca, and the later advices have been more
favorable to peace between Great Britain. and
Russia. The only war that has proved particu'