National Republican. (Washington City (D.C.)) 1872-1888, 1881-03-10
MONETARY MATTERS.
FINANCIAL AND COMMERCIAL NEWS.
Wall Street TransactiOns-The Latest Quotations
In Stocks and BOnds-NeW fork and Bal
tfmOre Produce Markets-LOndOa
and Paris Money Markets.

The following observations on the transactions in
the financial market yesterday together with highest
lowest and closing stock quotations. furnished by
the clearinghouse of II. d. Cooke ir &C Co. Iiss f
street. Washington, d. c.:
The market has been exceedingly duh and inactive
II at many times being difficult execute large trades
little after noon il was announced that the Secre
tary OF the Treasury had purchased 100000 SKIES
This feature tended TO boom prices a little making
them reach the highest figure of the day. Market
closes irregular list having an advance
"a 10 I'd per cent oneourth of the list closing where
they opened, the other oneourth suffering decline
OF from "a TO "a per cent The market has been void
or OUTSIDE pressure and most everything has seemed
to hang upon the decision of the Secretary OF the
Treasury in regard to the national banks 1t would
seem as If the public laying uncalled-for impor
lance upon the decision in this matter. Spectators
may make of it TO influence the market for
moment but whether the decision is favorable to the
banks or not, the money will soon find its way back
10 the market desired by the banks. In the one in
stance the bonds will be redeposited by the banks
who have taken them up and the legal tenders Will
be returned TO them; and, the other hand if the
Secretary decides this cannot be done under the law,
the banks may deposit their bonds and have cir
culatiOn of their own banks issued to them.
few instances the banks may have TO wait until
notes are printed bearing their names; but, as the
Comptroller of the Currency has SS0,e10D06 of
notes of the different national banks On hand it is to
be supposed that portion of the demand be sup
piled at once should be called for by the banks
1t has been remarked in former letters that the
compilations of prices of railroad earnings show a
marked falling Off, which would lead prudent mento
ask the question whether stocks selling
above their intrinsic worth. The willingness of the
public to convert each feature which arises into
fun argument might prove that they were at loss for
argument to boom prices.
Jay Gould and his associates have shown thefr will
ingness TO spend millions Of money to keep the
ket up i'll order to float their Southwestern scheme
Iron Mountain, new Western Union, &c. Whether
they do this not remains to be seen. The
board of directors of the Union Pacific met to-day and
declared quarterly dividend of Ia per cent making
il 2 per cent. stock II was rumOred that it to
have been made an 8 per cent. stock. The action of
the board will probably disappont many who went
long on Union Pacific to-day this latter 1t
turns out that, although the last statement of this road
is quite favorable, it is not good many had been
led 10 expect by the very exaggerated reports regard
ing it. Still the road makes admirable showing.
The board of directors elected to-day, and is the
the board elected March l. 1885, with one eX-
ceptiOn August Schell of New York takes the place
formerly occupied by C. s. Greedy Many are looking
for advance in Changers the strength of the
fact that there very heavy grain Feghts awaiting
transportation the roads freed from
and ice. 1t must be borne in mind, however,
that the warm weather which viii enable the
roads to runw also open navigation 1t is stated by
well versed in this matter that days like to-
day would make it possible to commence navigation
on the Erie and other Large canals, which heavy
tranSporerS. Besides this, the lakes would also be
freed from ice. In view of this possibility many of
the railroads in the vicinity of Chicago and Buffalo
have already commenced to cut their freight rates.
We do not draw any conclusions from these facts,
merely giving them for what they are worth
Total sales: Pacific Mail, i0OG Western Union 3d.
900; Northwest, 1906 do preferred, 6; ST. Paul, 230
c. C. & I. c. 10,OG Erie, S,10 Hannibal and st. 10,
$500; do preferred, 14OO; Lake Shore 07G Ohio and
Mississippi $780, Union Pacific, % 400: Michigan Cen
trail 100; Delaware 5000; Jersey Central 1906 Della
ware, Lackawanna and Western 70iOO; District of Co.
IIInlbias, 1900,