National Republican., 1882-12-25
THE MARKETS.
The Dullness Of the Holidays Still Rules in
the Stock Exchange.
A Review of Last Weeks Bhsiness-The
State OF Trade,
SATURDAY IN WALL STREET.
SneninL DiennLch.

NEW YORK, Dec. 23-StOCkS tO-udy were
naturally quiet as usual on Christmas eve,
but the feeling was nevertheless generally
firm. The strong features were Wabash and
Telegraph, but there was no speculation 60
ing on of Importance in anything.
1t is reported that an arrangement between
John Pender and Gould is on foot, whereby
two cables are to he given to Pender and the
Baltimore and Ohio Telegraph company, who
would pool the business with the Western
Union and Anglo-American companies, and
the Baltimore and Ohio company will not put
down any new cables for a year.
The Vanderbilts were stronger, and it was
reported that the $5,O00,0O0 increase in the
bonded debt of the New York Central railway,
as shown in the report, had been for building
grain elevators here and for other improve
nents.
At 2:30 p. M the market was very strong.
Money loaned carly at 3 to 8. Later at 4.
Government bonds were a shade lower. Ex-
change quiet and steady.
The cotton exchange closed, and will reopen
next Wednesday.
The market closed dull and strong, with
some demand for the Wabash and telegraph
stocks
About 1 p. m. it was positively stated that
the now telegraph deal with Pender includes
an arrangement with the Baltimore and Ohio
railway company by which the latter are to
extend their lines to connection with the
French and direct cables, with an agreement
to pool all business and be under the ex-
elusive control of Pender. The Balti-
more and Ohio is to put down no new cables
for year.
The banks hold in excess 1922, ,175.
The bank statement is considered very fa-
vorable in view of the general impression that
the requirements of the January disburse
ments would involve the calling in of loans,
and the consequent lessening of capital in the
money market. The slight decrease in re-
serve, taken in connection with the approach
ing January payments, secures an easy loan
market for sometime to come.
1t was reported this morning that the West
ern Union telegraph company has nearly con-
cluded an arrangement and agreement with
John Pender of London, by which the direct
and French cables will be operated independ-
emily of the Western Union company.
These cable companies will have their own
land connections and have independent offices.
Mr.. Pender says this will stop opposition
cables.
Philadelphia dispatch says the Reading
railway company is not at all likely to sus-
pend coal mining next month, as this COM
pany's coal trade is better than ever before.
Stocks loaning about A. Money to 6.
Government bonds dull and lower.
There is a story going the rounds in the
board, how well founded it is is hard to say,
that proposition has been made to convert
all the Wabash common into the preferred
stock on the basis of $50 shares for 100. 1t is
claimed that this may be done with the con-
sent of two-thirds of the preferred holders,
most Of whom have assented. The Western
Union bulls claim, if the shorts were called
in, the stock would go up to s5 easily. 1t is
stated that new street house is short 10 300
shares alone. ~
REVIEW OF THE WEEK.
No great change in the financial situation
has taken place during the past week. The
money market has worked very easy, and
good time loans can be had at and per
cent. 1t is estimated that from 100000 900 to
$70OOO,O0O will be disbursed on January l.
This will seek investment naturally, and
higher bond and stock market will probably
result.
On Monday heavy raid was made on Den
yer and Rio Grande, and there was free SELL
ing of the Omahas. The feature of Tuesdays
market was the rise in Union Pacific on the
favorable report of Mr.. Adams. The death of
Trenor Park had very little effect on the mar
ket. The last two days of the week were
noted for the great dullness. Hardly any
transactions were noted.
The New York Central report came out on
Friday, and was accepted by the street as
very unfavorable one. The bonded indebted
ness was increased, and there was deficit of
$1,500,000. 1t should be noted, however, that
this report was for the year ending Septem-
ber 80.
The New York Central officials report that
the earnings for October, November, and De-
cember show an increase of 81 200 900 when
compared with last year. 1t is said that the
late railway war in the northwest, which is
a thing of the past, has shown the evil of
building too many railways. The great crops
have been met with too large an increase in
the transportation facilities, and the result
will be, in the future should we have a par
tial failure of crops, a continual war between
the roads. The very unfavorable statements
of the Louisville and Nashville, and Denver
eAd Bio Grande roads are fresh in the minds
OF the people, which fact does not help the
present attempt to boom securities.
The stocks are held well in hand by the
large operators, and commission houses are
doing very little business. The bank state
ment was on falling average, as follows:
Loans increase 's2oSO6OO
Specie increase. ,2924 400
Legal tender decrease. l49lOOO
Deposit increase ..........''.''..' 2i43b6OO
Circulation increase eI.................... 10000
Reserve decrease. SUTTON
The banks now hold $5272, 175 in excess of
the legal requirements
STOCKS
The following are the opening, highest, low
est, and closing prices of the principal stocks
for the day, as corrected by special wire re-
ports received by Bateman & Co., bankers,
No. COrcoran building:
. . a