National Republican., 1883-03-16
THE MARKETS.
The Low Rate Of Exchange and High Price Of
Money May Bring Gold from Europe.
The Stringcncy has Dcsdening Effect
ON the stock Exchange
GOSSIP.
SDecidL Dispdfch.


NEW York, Mar. 15.--Van Hoffman & Co.
say that sterling exchange rates are now so
low that gold may again come from Europe
without loss, and that if money continues
stringent there will he shipments from Lon
don this week. Brokers generally agree that
the astringent money rate has almost checked
the entire business on the street, and that
speculation will be dull until funds are easier.
1t was reported from Washington last evening
that the assistant secretary of the treasury,
who is now in charge of that department. Nt1ls
opposed to any interference with the money
market.
Brokers say that the only important fea-
lures of yesterday were the advances in
Wabash preferred and Denver
The rise in Wabash preferred was regarded
as an indication Of the trifling rise. But
Denver looked as though it were going up
much higher. Cammack said he knew of
nothing to cause the advance.
The room traders are still bullish and buy
stocks on the slumps.
The short interest is diminished q little and
there is rather more stocks offering in the
bear crowd, but this is partly owing to the de-
mand for money
hb pclnuu uuuoco dlO bhN i"i ibS" pN''N'
ers, but prominent Broadway house, largely
identified with the Windsor bears, is borrow
ing heavily of stocks and is lending money.
Sage continues very conservative on stocks
Tho Western Union earnings are still in
creasing, and increased last week $i,40O.
There were cablegrams sent to Frankfort
and London last evening advising the pur-
chases of Denver and Wall street broker,
at the Windsor last night, bid 1 per cent. to
put 1000 shares of the Denver at 49, on June
(only) and bid AZ for the stock.
Notwithstanding ldenials yesterday, the
lease of the Wabash to the Iron Mountain, as
reported in the specials of yesterday, is as
sured. The Missouri Pacific would have
made this lease direct, butfor the law against
consultations of parallel lines. The lease
will be signed before April 10.
Exchange is unchanged. Stocks are lend
ing in renewals at 10. Foreign houses, in
Guiding Heath, Probst, Niles, and Wormser,
also Talcott, bought preferred; sellers, L. A.
Drake and J. o. Stephens. The buyers of
Western Union were Berdan Godet and
Howard Lapsley. Hertz sold Western Union,
Work & Strong bought Union Pacific. There
is not much offering. Seymour & Hunt sold
Delaware and Lackawanna
The Vanderbilt stocks are dull and ne
elected.
Money is at 10 bid offerings at Ii.
There is considerable selling of cash stocks
in the board this morning, and buying back
regular
Government as are strong on purchases on
account of personal taxes.
A private London cablegram reports money
outside bank az q.
Bankers say sterling rates are not low
enough to induce gold shipments.
REVIEW.
The opening was quiet, and the only busi-
ness was in Wabash preferred, and there was
a little brief furry on foreign orders.
Western Union opened firmer on the i'm.
proved earnings reported.
Up to 1890 p m. the trading was the small
est in volume of this year, and the high rates
for money have killed speculation for the
present.
Stocks lent at 10, New York Central lent at
6 for immediate delivery.
Money was in demand early at 10 bid, and
later lent at 13.
Some considerable sales of stocks at cash
were made to avoid the risk of further
squeeze in money.
Sterling is dull and unchanged.
On the second call there was a drive made
against the market ON sales of cash stock, but
no further The reaction was unimportant.
At 2:3O tho trading was lifeless and without
features.
Money is irregular from ii down to and
back to 10; between 2;20 and 2:3O rate settling
at about TO-
The market closed duh and lower. The
market has been too dull to report.
LONDON, 12:3O.-The Bank of England rate
is unchanged at 3; United States 5s, | lower;
New York Central, lower; Pennsylvania
Central and Ontario and Western declined !;
others unchanged.
STOCKS.
The following are the opening highest,
lowest, and closing prices of the principal
stocks for the day, as corrected by special wire
reports received by Batcman & Co., bankers,