National Republican. (Washington City (D.C.)) 1872-1888, 1881-03-08
MONETARY MATTERS.
FINANCIAL AND COMMERCIAL NEWS.
Wall Street TransactiOns-The Latest Quotations
IN Stocks and BOnds-NeM York and Bal
timOre Produce Markets-IondOu
and Paris Money Markets.

Inc following observations on the transactions in
tae financial market yesterday together with highest
lowest and closing stock quotations. are furnished by
the banEng-house of II. D. Cooke, jr, & Co.. 1872 +
street, Washington, d. G.:
The market opened quite strone This mornino lint
soon sold Off being discovered that many large hold
ers were realizing The decline continued quite stead
hy, with slight reactions until the close at which
point about the lowest figures of the day were reached
Inc entire list with the exception of fractional ad
vance IN American Union) closes from x to 2per cent
eeicw opening being aided in the decline near the
c"Se oy slight furry in money, the majority suffer
ing a decline gilmore than per cent. Much of the
rise which has taken place during the past four days
mas been caused by the covering of short Interests
Ntch were developed at the time the of the
funding bill seemed almost certain. There have been
u" large outside orders TO purchase for long
counts 1t very apparent that the market has been
seriously manipulated during the last week by Gould
ana many others. These were " long" of stocks be-
lore the recent drop and obliged to buy heavily
tat low prices in order average up 1t is obvious
no" that they must do all in their power TO advance
prices IN order TO get out even with profit One
Thing Is certaiI-either these must get burned
or the public We fear very much that it Will be the
puhic If they bUy at these prceSthat is if intrinsic
merits of stocks 10 be taken criterion of prices
But 1t must be borne in mind that If initiation is
fed out by the new Secretary of the Treasury, the
matter OF true values will be of the question In
mat case would have fictitious code of prices in
direct proportion in its extravaganza, the extent
90 which the measure is carried out. The possibility
Of SUCH course must into the calculations of
every one who is trying to arrange programme of
operations in the future The outside public in
New York seem TO have diseouraging view of the
market. There is total absence of outside orders.
The . lambs have been sadly demoralized and do
not seem 10 have any disposition to go just at pres
ent In this connection it occurs TO that this
one of the reasons that large manpulators doomed
prices so last week They anxious TO reassurethis
hlcl iFIfn T-,a,I-S IF
great hopefuls But the lambs proved in this case
ia be wolves habited in the raiments of lambs" -
they refused TO be back, having desire to
burden their kind friends of their surplus load of
stocks We have spoken of the decreased earnings of
many roads, owing TO largely increased expenditures
incident TO the very weather of the past month
\ few figures might prove appetizing. We give
some of the most important:
Earnings OF Michigan Central for January and Feb
ruary SG go less than required TO meet its
fixed charges. Lake Shore $1,000 behind for the
fourth week of February. Indianapolis, Blooming
ton and Western, for week ending February %, de-
crease s. 67. Wisconsin Central, first two weeks of
February, decrease 5000. Wabash fourth week of |
February, decrease 81 Gd1. St Puul and Omaha, |
fourth week Of February, decrease s. I6I. &c.
Does this look encouraging? No; and yet five have
imitation these facts will be as impoent to effect the
market as though they had never existed When the
great law Of intrinsic worth is diregarded and prices
are built up upon false basis, great crash is newt
able. Whether it is in for in the immediate
future, or whether The market will be sustained and
advanced TO higher prices before have it by coups
detat the part of the powers that be- is ques-
ton dare not pretend to solve. Certain il is that
many of the list selling above their Just value and
Will some time seek their proper level With the |
Treasury Department almost entirely rests the power
10 regulate prices in the near future.
Money loaned at AZ per cent, but became scarce
toward the close, and interest paid by late Dor
royrerS