National Republican., 1881-08-30
FINANCIAL AND COMMERCIAL.
stock and Bond QuotHtions-BaIti B ore
and Now York Produce Markets.

The following observations on the trans
actions in the financial market yesterday together
with opening, highest, lowest, and closing quota.
tons are furnished by the banking. house of H. ID.
Cooke, ,jr., & Co., 1929 street, Washington, D. c.:
NEW YORK STOCK MARKET.
NEW York, Aug. 20, $40 p. m.-The favorable
news from Washington caused the market TO open
strong at a considerable advance over Saturdays
closing The strength continued with occasional
reactions and the market closes at an advance Of
a to per cent and within u to per cent. of the
highest prices of the day. The only rumor worthy
of mention was the one referred TO OH Saturday,
namely: That the Secretary would call 20,0O0.00O
extended iyes bonds. The borrowing demand
for stocks was smaller this morning than of late,
which would indicate considerable covering OF
shorts. Money continues to rule at per cent,
with exceptional transactions at per cent. near
the close. Government bonds have been frmer
and show an advance ofH to VI per cent.
WALL STREET GOSSIP.
NEW YORK August %, 10 a. m.-The unexpected
improved condition Of the President yesterday
caused greatly increased confidence in financial
circles at the Branch, and moro cheerful feeling
prevailed among the bankers and brokers. James
Seligman believed that the President would pull
through and ultimately recover, but whether he
did or not the financial situation had been unduly
depressed, and the market for stocks ana bonds
bouggbt gHbig whether no N thS Bank of Ensand rtber
advanced rates that there would be further large
shipments Of gold and the bank could not stop
them, A prominent Exchange Place banker said
that he looked with more sollcitude TO the con-
dition of financial Affairs in London than here
because the English wheat crop is badly damaged,
portion of II being still inundated In the fields,
| There had been great Withdrawals of gold In
| Italy for the resumption OF specie payments In
that country, aud, finally, the balance of trade
| These facts, the latter thought indicate u some
| what perilons situation in London, and f any
'IS5t Il would probably originate there. Rns.
sell Sage was very Joyous yesterday over the
| Washington adyices, aud predicted further gen
era rise in the stock market of 10 per cent within
ten days provided the prGsidentcontinucd to gun.
| II was not going down any way in his opinion. The
| largely increased earnings Of the Western and
| Southwcstern roads he regarded us surprisingly
handsome considering the fact that oil the wealthy
| grangers are holding back millions OF bushels Of
| old slock for still higher prices The treasurer Of
the Rock Island Railway says every engine and
car of this road is in demand TO meet the enormous
| traffic The earnings of the third week In August
| he says showed the greatest increase IN the his
| tory OF the corporation, Messfs, Harvey
| Kennedy and LoOmis l.. White agreed in their
! prediction Of higher stock market They were
| each buying good stocks on scale orders and had
been doing Ior some days arguing that many sure
ties were still from 10 TO 10 per cent too low Also
4 that there would bo fair average crop this year,
| which would bring much higher prices, and that
| the gold must come along from the other side TO
| pay for j. Conner believed that the city banks
would this week more than recover their lost legal
| reserves through the Treasury disbursements aud
the arrivals OF European gold now en- route Not,
| withstanding the bad bank statement on Saturday
and the distressing Washington reports, he thought
| the market showed great strength and was sgnih-
| cant Of good buying, Mr.. Keenes broker Bocook,
didnot believe any further appreciation In prices
| The advance on Saturday, IN his opinion, was
| mainly the result Of stampede among the bears,
| lie also believed that a great many long stocks
| were marketed which would not be bought again
| for sometime The Garrison party Intimate that
the new proposed plan for arranging the Elevated
| Railroad matters, as now under discussion and
| adyiscment, Is 10 lease the New York Elevated Ia
the Metropolitan, six per cent. 10 DO paid on each
and the Manhattan stock 70 be assessed tiny pei
cent, which would pay of all Indebtedness and
remove the receivers. jay Gould Is largely inter.
the war on East. bound irelghts Is extending the
Michigan Central and the Lake Shore on satur-
drddwelght The Pennsylvania Central Is re-.