National Republican., 1885-12-14
TuE MARK ELS.



NEW YORK, Dec. i2.-'rh ere has been heavy
decline In the stock market to-day. AGesa
strong opening, which stowod advances for
the active list OF sto Fl per cent, there was n
persistent decline until the close Of the board
this afternoon. At times the market was OK
tromcly active, especially when IL was
most conspicuously weak, and the reactions,
which were accompanied by duincgs were
only slight SeNCrul causes have operated TO
produce to.dnys results. Early In the day IL
was reported thata new isyueo of bonds, amount
ing TO a2bOOO0.0. wns 10 be made by the Lpko
Shore railroad, the alleged object being to take
rare Of Mc bonded indebtedness Of tho Nickel
plate. IL was said that the directors were IN
session considering the matter, and, as II was
supposed that II would in lsomc way add to
Lake Shore fixed charges, the stock was de.
eidedly, weak, selling down in the forenoon
Late, IN the day came published synopscs
ofthe Vanderbilt will. Forthc past day or two
great Importance has been attached 10 the dis.
position which Mr.. Vanderbilt made in his will
Of the bulk Of his fortune, but the street came
10 the conclusion yesterday thnt II hai been
left in trust, and that, instead of being thrown
upon the market, the principal portion Of tho
securities held by Mr.. Vanderbilt at the time
Of his death would be locked up for time 10
come. From synopses circulated on the street
To-Day the Interpretation was made that the
bulk Of the fortune had been LEFT In such q con-
ditlon that II was liable to come upon the street
at any time, aud old conservative operators
WIZ iluNt ltIclHNtuNlg DullillE lut
Of late suddenly turned aud sold their stock,
especially those In which Mr.. Vanderbilt was
q prominent holder.
Very decided weakness was also developed
In Pacific Mail, the selling following the re-
ceipt ofreports that Congress was certain to
support the Postmaster General, and that the
company would be deprived of any subsidy In
future. The friends Of Pacific Mall, however.
| Insist that the subsidy was of very little value,
considering the work to be done iu order to
obtain the amount Appropriated by Congress,
and as 1t has not been receiving any portion OF
the subsidy for months past, Il can have no
claimlls earning Mt the rate ofdoublo the amount
| of dividends paid. The closing prices were
| either at or very near the lowest figures of the
| day, and show declinesas compared with last
evening, and which are somewhat less than
| the total declines from the highest prices to-
| day OF fractions to over per cent, the latter
| PaciflCM ail which closed with q loss of SO at
G25s; only recently II sold at 20,
Money on call continues easy at IL to 2 per
cent, the last loan being at per cent, Sterling
exchange continues quiet and quotations I'M
bills and Js6 for demand. Posted rates 4SiI5
for sixty day bills and 4S7 for demand. GoYs
ernment bonds IRE dull and steady. State
bonds have been dull but strong.
Railroad bonds advanced sharply ut the
| opening the Nickcl Plate and East Tennessee
having been the special features. The market
closed of from the highest figures.
Treasury gbalances-Coin, SIP, 2,1ll, $50: cur.
rency, sl2,5Sl.S70.
Quotations of Saturdays Stock Sales.
The following have been furnished by Bateman
Co., bankers, 1i11 street, being the most active
stocks In the New York exchange;