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The share market was strong and higher in the early dealings. with Missouri Pacific as the feature. The rise in Missouri Pacific was due to an attempt by the bears to cover. The floating supply of stock is small. and outstanding an 1 short inter est large. The other active stocks advanced K@ 1%, the latter Canadian Pacific. Lake Shore sold up 1½. Western Union 1%, New York Central 1/4, St. Paul % Lackawanna %. Northwest 5/3, the remainder of active stocks After the first call Union Pacific became weak and dropped 4% on reports from Washington that the Government experts' statement would show that the company's net earnings for the first quarter had fallen $1,600,000 compared with previous year; that the dividend had not been earned. and none could be legally paid. It was also rumored that the experts had discovered a deficiency of $20.000,000 in the company's sinking funds, and that this money had been used to sustain the market value of the stock. Various other untavorable reports were circulated. It was said that the First National Bank of Cleveland had suspended, and that the Oregon Transcontinental Company was in a bad way, and that a receiver would be applied for, and that a serious washout had occurred on the Central Pacific road near Humboldt. Subsequently President Dillon, of the Union Pacific, stated there was no truth whatever in the story of the deficiency of $20,000,000 in his company's sinking funds, and that not one dollar had been used for the purposes alleged. It was also announced from Cleveland that the First National Bank was doing business as usual, and from San Francisco that there had been no washouts on the Central Pacific. The Oregon Transcontinental officials stated that the rumor in regard to a receiver was groundless. The denials did not come until there nad been a decline of %@4% in stocks. Union Pacific fell off 4½, Lackawanna 23/8, Missouri Pacific 2½, St. Paul 2, Northern Pacific preferred 2½, Western Union 1%, Lake Shore 1/2. Northwest 14, Louisville and Nashville 1%. In the afternoon, when the rumors noted above received official denial, a better feeling set in, and there was a brisk demand for New York Central, Missouri Pacific. Union Paeific, Western Union, Lake Shore, and Omaha and Northwest. Cables from London announcing the withdrawal of £100,000 from the Bank of England for shipment to New York stimulated the upward movement. New York Central rose 1½, Missouri Paclfle 14. Omaha, 1½, Union Pacifie, 1%, Lake Shore 14. Northwest 1 (ex. dividend), and Louisville and Nashville 1½. The market closed strong. Compared with last night's closing, prices are 1/2 @2% higher for Western Union, Omaha, Reading, Northern Pacific preferred, New York Central, New Jersey Central, Kansas and Texas, Missouri Pacific, Lake Shore, Louisville and Nashville, and Canada Southern, and %@% lower for Central Pa. cific, Pacific Mail. and Texas Pacific. Union Pa. cific is 2½ lower, and Chicago, Burlington and Quincy % lower. Sales, 400,000 shares. BALTIMORE. BALTIMORE, June 12.-Virginia 6's, deferred. 7; second series, 38%; new 10-40's, 32; new 3's, 53% North Carolina 6's, old, 105%. Bid to-day.
