National Republican. (Washington City (D.C.)) 1872-1888, 1881-02-28
FINANCIAL AND COMMERCIAL.

last week was memorable one Wall street
memorable al least to those who went into stocks on
small margins and now mourn for what they have
not The prcCipitate action of the national banks
the cause aided 10y the attacks of the bear element
very likely the bears overdid the thing Thursday
and Friday and may in their turn get badly squeezed
The conduct of the market Saturday has this outlook
aad we should not be surprised to further sharp
advance ali along the line But the danger is not yet
past, and it still bchoovcs all who Speculate
Gins to make haste slowly in loading up for another
bull movement. What the banks have done they
inay repeat; and another series of tight money days
experimenting aHa;her scare, will end in panic of
most respectable dimensions.
The following gossip from the New York ITOlJd of
Sunday Is very interesting. and may contain much
truth
Now that money is nIcntv and was offered toward
the cinse at per cent brokers will probably within
a day two begin 10 buy usual on margins. and
this will fresh demand for stocks and carry
prices much higher OF course the bears will raid
the market whenever they get opportunity,
but they hope that the bank cOnSpiTatOrS will
help them again. and they will not make much head
way in breaking prices. The fact is that the country
is prosperous and the railroads all doing so
large business that it is impossible for any set of
wgtCkerS 20 depression in securities that would
last for more than few days. st. Paul and Pacific
Mail continue dangerous stocks for outsiders TO
touch, because they are largely held by prominent
California operator whose losses are so large that il
IS reported that one house has declined to bug any
more Of those stocks than Il IS holding.
Tie short interest, said another broker, Is very
large in the market tonight. No; only the bears,
vino have dCe TiidiIig the market for the past week
ip!t with large short line of stocks, which they have
been unable 20 account of the rapid reaction
bGi large humber of brokers. frightened by the ru
of ali kinds that have been circulated within
day or Two, have thrown stocks of great many
customers whose margins had not become exhausted
aud whom they had right TO sell out. that the
brokers short Of their customers stocks, which
nHst he bought ia. Only failure has been
nnUuCed un Ia the present time and much sympathy
SCNpreSSed for This pcrS0a, because he led into
difficulty T of hiS customers, VINO had failed in
keep:rg his margins good. The broker is known az
one who never SpeCglatcS himself Reports that
number of houses ia difficulty were circulated
b. the bear CliI" with the hope that il would add TO
the uneasy feeling and IL further decline ia
stoCs IL Is reported thai these Will be inVeS
tgled, and tie prgina1TS of them Will be punished
they deserve. The Southwestern stocks are very
firm this afternoon and advanced = per cent. at q
time between transactions whenever any orders came
into the market 10 buy them. Western Union which
sold as low l0I 10y heeneS brokers. closed to-
might at 10 and with very little stock sight 1t is
estimated that the losses of the California Spectator
Oh the shorts Whch lac put out yesterday and this
morning ani0aut 10 S2OUlODa Calculated at clos
ing prices or Tonight and that before such line of
stocks car be- bought in. il will cause advance that
viii increase his losses One-halG"
The following observations The transactions in
the financial market Saturday together with highest,
Lowest and closing stock quotations, are furnished by
the clearinghouse of II. D. Cooke, jr., & Co, Ii2
S,.ect. Washington. ID. G.: