National Republican., 1882-12-11
THE MARKETS.
Stocks Opened Strong, but Closed Weak on
Saturday.
The Week Reviewed - The Influences
=, which Controlled Prices.
REVIEW OF THE WEEK,
lcDsridI Dfendfrh

general distrust caused by the failure of the
warning railways to reach a settlement of the
existing troubles, resulted in a dubious and
uncertain market. Notwithstanding the fact
that money has been easy during the week
and that the financial recommendations of the
national administration to congress receive
general approval in financial circles, while
the railways showed largely increased earIi-
ings, prices did not respond.
The stock market manifested considerable
strength in the early part of the week, and
there was apparently good buying of Granger
stocks. fact which seemed to indi cate that
the end of the railway war in the northwest
was near at hand.
The Pacific stocks were down to lower
range of prices. This is always the case dur
ing the first weeks session of congress, when
reports are thick as TO unfavorable legisla-
ton.
Foreign exchange continues very week,
which should be considerable element Of
strength. The balance of trade in our favor
for October amounted to over S10,000,0O0, a
thing that has not occurred since last January.
Gold has been imported to the amount of
Sa,000,000. This. is a gratifying exhibit of the
condition of our foreign trade-a condition
which promises to continue through the win
ter. Yet with all these favorable facts, the
railway war; the commercial failures, the
actions of such monopolists as Gould, Wander
bilt, and Keene, added to the threatened rail
way legislation in congress, all tended to un-
settle and disturb values.
The speculation in cotton for future de-
livery has been quite dull for the past week
I,.+ +oF+ hon 10 ,nl
vance on account of the small crop movement
and favorable foreign advices, and the feeling
was general that prices were near bottom, un-
less there should be a falling off in the de-
mand from the mills, some of which are now
over stocked.
SATURDAY IN WALL STREET.
NEW YORK, Dec. 9.-The market opened
dull and a shade higher. Later the Northern
Pacific and Union Pacific became weak, and
on the second call both were especially heavy,
with the rest of list STRONG. The market was
very Irregular after o'clock. Granger stocks
advanced 1@24. Omaha preferred and North
western rose /, but St. Paul had only slight
rise. Denver, after opening at 433 fell to 43a,
and then rallied to 43.
Business was light and trading very dull
after p. m.
The bank statement was regarded as very
favorable.
The strength of Grangers was mainly due
to an announcement that the st. Paul pool
roads had had an harmonious conference, and
appointed committee to take into consider
alton the questions in dispute. ~ilNH
Sterling exchange was very dull
Government bonds were strong, with light
frnjinu Tho Al ppntg II nbpVp trppS-
ury bids. At 2 o'clock the marlietw was strong
all around, except for the Pacific roads.
Omaha stocks were very strong. both for the
preferred and common The former rose to
1O9l and the common to 51f, and closed at the
highest price of the day, showing gain of
per cent. The rest of the market was sus-
picously weak. AT the close Union Pacific,
Northern Pacific, Wabash, and Western Union
stocks all showing from l to 3 per cent. loss.
Very little satisfaction can be had from the
action of the railway conference at the Wind
sor hotel to-day. They met and they ad-
journed-same old story.
The bank statement was very favorble:
Loans decrease, S1,2G0,10O; specie increase,
$4, ,139 600; legal tender increase, S305,600; de-
posit increase 1925 500; circulation decrease,
Sl74,5OO reserve increase, $3,623,175,
The 34's are now II above the treasury bids,
with no bonds Offering.
The conference at the Windsor adjourned.
Previous to adjournment a committee of four,
consisting of Porter, Cable, Hughett, and Mer-
rell, were appointed to take into consideration
the questions in dispute and report at $3.50 on
Monday.
Chronicle advance sheets give earnings of
sixty-two western roads in October, which
show an increase of $3760, ,403 and an increase
since January on ffty-three roads of $32, 197,-
279 net.
The Coal and Iron Journal says the compa-
mics will not, so far as can be learned reduce
12-ices, but will stop mines during the holiday
week.
Buyers are holding off and the trade has
been rather dull and somewhat upset in con
sequence of the Pennsylvania company's
coming down from Newburg to Weehauken at
much lower figures than last yerr.
FOREIGN.
United States extended 5's4 lower Erie de-
cined Pennsylvania Central declined I;
New York Central advanced / Illinois Cen
tral, J; Reading, and st. Paul common
rose II.
NEW ROAD BUILDING.
Special Dispatch
CHICAGO, Dec. 9.-rhe Grand Trunk is
building a new air line to Detroit via Jackson,
which will be twelve mics shorter than the
Michigan Central.
NEW YORK STOCK MARKET.
ASSOCIATED Press
NEW York, Dec. 9,-hIoney on call loaned be.
tween 465 percent. and cosediit 495 per cent
Exchange was steady at 470l5@ls0 for long and
4S3lSaiSi for short sight. Governments were
strong 1s@l{ per cent. higher. State bonds
wera neglected. Railroad bonds were fairly ac-
tive and generally fraction higher. The share
speculation opened duil aud about steady AT yes
terday's closing figures. In the enrly trade the,
market Wai weak and under the lead of the
Northern Facfcs and Denver and Rio Grunde,
Prize fell on 1sQ34 per cent This was followed
ty advance OF 2ls per cent in Omaha preferred,
II IN Northwest, IN Omaha common, and Lsl9A
in the remainder Of the list, the latter st. Paul
Sh, rty aiter II o'clock reaction of Is@l per cent
occuIIei tho latter Northern Pacific preferred
nllOr which the market became strong ana in the
early part of the afternoon recorded an advance
ranging from 15922s per cent, in which Northern
Pacific preferred, 81. Paul, Northwest, Union Pa
ciic aud Delaware, Lackawanna aud Western
were most conspicuous. subsequently the list re-
ceded EGlA per cent, the latter Union Pacific
and Denver and Rio Grande, but in the at5 trade
again sold up NGl% percent Minneapolis and
81 Louis and Nulthern Pacific leading the i'm
p.uv,meut. During The latter half OF the last
ur Tie plarkeL although active, was weak aud
opped laon2l per cent Northern Pacific prefer
red aud cUmlnln, Union Pacific, Western Union
and Delaware, Lackawunna and western suffer
ing mos severely IN the decline. The Omaha
stocks, however, were strong the preferred ad-
Vancing 33S and common 2N per cent, TO the
close. In thh last hour Northern Pacific prefer
red sold ex dividend Ii per cent, and Union Pa