The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1885-03-21
non York Stock Market.

Nvw YoRK, March 20.-Wal Street
Stoke opened irregular, and generally
higher. subsequently steady tone as
l+s5,ed and business was less active
t 9Sal the two preceding days. at eleven
the market was dull, but strong; quota
ions we're little above opening; west
Shore declined to 81.
NEW YoRK, March 20.-Wall street.
Stocks this afternoon were quiet except
Pacific Mail, which was very active ana
yerg weak, declining to 1911. The rest OF
the list was firmly held in most cases,
although Western Union and Union
Pacific had been heavy; Lake Shore was
strong. Market closed weak.
NEW York, March achievements
ouiet unchanged. Railway bonds
quiet, with limited business. The feature
IN todav's stocks was heavy trading III
Pacific Mail, accompanied by further
decline in stock of Az. The complica-
tons growing out of the fight between
the Pacific railroads and the notice Of
the Union Pacific to the Steamship
Company ofthe intention to discontinue
the subsidy paid by the railroads to that
company was further complicated to-
dav by a notice from the Central
Pacific. This settles the questi on as to
the formality of the notice to the steam
ship company, and unless readjusted
arrangement between the different COM
panies is effected, it ends the monthly
payments of S95, 600 by the railroads to
the Pacific Nail after the expiration OF
the time required in the old contract.
The new agreement, with the reduction
fbo ovbesI,- = IL Oh TO-DAY hr1 4
President Houston, of the Pacific Mail.
is credited with the statement, that no
proposition, looking to the reduction OF
the amount TO be received by his COM
pany, would be considered. There has
been heavy selling for short account,
but it is believed tonight that insiders,
including some of the directors who
we're heavy holders of Pacific Mail, also
unloaded. Late in the afternoon. stock
sold down to 49, and closed with the
last sales at 1875 and 491z bid. This is a
Gecline OF about IL per cent. in the past
three days. Trading in that stock to-day
amounted TO over $1,000 shares or % pei
cent. Of the total days business. The
general market opened strong, and in
me hrst hour made a slight gain, the
oallsl being aided in their efforts to
support the market by a disposition Of
1e bears to realize profits. With this
eAeck to the general decline, the market
may be called dull and prices remained
deady after the first hour until after
midday, when considerable weakness
ss developed iii the UnionPacifc. Dur.
aglhe afternoon the statement was
punished that Gould had sent letter
y resident Adams of the Union
~ ofC1 60 Ching re-electionIas member
I'm y Tue board of directors of the com
S ivy, This, and the general impression
S Sa.Cl prevailed that the complication,
tween the Union and Central Pacifi,
ssOIpanles were daily assuming a NOR,
S.aeI character, were the cause for :
s SO In Union Pacific which sold dowl
o5 ~ and closed feverish at 421s, los
p..A per cent. Lackawanna, Texa.
aIlc and Missouri Pacific also suffered
S Suecll1e Of 4 to a. In face of tn
V. .sAHe ofthe stccGs above mentioned
AN llTuel bits and Changers were remark
,ss sEong, although they yielded
=" lVh during the last hour.