National Republican., 1883-02-12
THE MARKETS.
Western Union and Union Pacific Led a Gen.
eral Advance on Saturday,
And Prices were Firm up TO the Hour OF
Closing-Polnts for To-day.
REVIEW OF THE DAY.
cpfcjol DisDnfrb

Special Dispatch
NEW YORK. Feb. 10.-The market opened
firm and high, the main interest being in
Union Pacific and Western Union.
st. Paul common was also active, but not so
strong as the other leaders. Osborn's peoplcand
Woerishoffer sold st. Paul. and Horton & Co.
bought 5000 shares. Keenc bought largely of
Western Union. Boococb bought 5000 shares
of Western Union, and Work and Strong
bought 5000 shares, and Darlee bought tolc-
graph heavily. d enver was weak and Blood
good & Co. raided IL to 42k. There was some
reaction at noon on a bad bank statement,
which showed loss of oncand half millions
and business subsequently lightened, but the
decline was unimportant. Stocks loaned !.
Lake Shore at 1-32 to fat; New York Central
offered fiat. Government were neglected and
dull. Exchange was quiet and business light.
Money TO 81.
On the second call the market was dull and
prices for the leading stocks were fractionally
lower, but Union Pacific was fairly sustained,
and so were the southwesterns Western
Union reacted about ! from the highest
figures, and Central Pacific and Hannibal
preferred rose one point
1t was reported this afternoon that Wander
bilt is going to winter near Long Branch.
Early in the last hour the market was quiet
and steady. Money offered at 3. The market
closed with decided frmness for Saturday,
when lower market is generally in order,
owing to the rcalizations of small brokers.
The market is evidently bull market for the
present. General improvements is going on in
business circles, which will very soon be felt
in Wall street.
FACTS AND FANCIEs.
Northwestern earnings for the first week
in February decreased S12O,4O0; Omaha for the
first week decreased $4,000. Vice President
Sykes, of Northwestern, says that in both in
stances the decrease is due to the severity of
the cold weather and deep and drifting SHOWS.
In the stock board Fred. Brown bought 81
600 shares of st. Paul. Osborn's brokers are
still sellers. Durkee bought Western Union;
Slayback broke Denver down.
Government bonds were neglected to-day,
owing to the "dickering" by large operators.
Seligman & Co. say Amsterdam has been buy
ing Louisville and Nashville, and Buffalo,
Pittsburg, and Western this morning.
BROKERS report .WocrishofIer selling Union
Pacific and Keene buying Western Union.
Boocock & Work and Strong bought 5000
The main interest centered in Union Pacific
at the opening. Stephens bought 1000 shares
up to %, and later Hunting, Wilson, and
Van Emburgh were selling down to 9ll. The
books close for the election on the nineteenth.
Loans on stocks were first quoted: Lake
Shore, 1-32 to fiat, and later was offered ut
1-6i. New York Central offered fiat.
London cables report American grain
strong and wheat advanced 6 to pence.
Paris reports rentes up 10 centimes; bourse
frmer.
1t is reported that the Delaware and Hud-
son Canal company at its May meeting will
probably increase its capital stock $10,000,000,
for the purpose of retiring its Z per cent.
bonds due in 1884, 1887, and 1891. SAT-
The gossip last night was indicative of a
higher market to-day. The bears appeared TO
be represented by Cammack, Woerishofler, and
Osborn. The latter declared he was not short
of anything, and Woerishofler remarked that
he had fewer shorts than for n long while
past. The bears on Union Pacific had tele-
grams stating that the governor Of Kansas
had signed the bill directing the attorney
general to bring suit to annul the old Union
Pacific and Kansas Pacific consolidation.
Keene is out and out bull, and long of Union
Pacific and Western Union. The feeling
continued bullish last evening, and some old
bears admitted that prices were quite low.
Tho Wander blt broker said Mr.. Gould was
big buyer yesterday and could easily put
prices four to five points higher against the
short interest alone.
The room traders were somewhat bearish
after closing and thought the market had been
bid up to sell to-day, and decided that four or
five were cliques watching each other closely
to detect inside selling,
II. N Smith said last evening that he
Thought the present general market had n
very favorable look for higher prices.
The pool in New jersey Central intends to
put the price up to about So, and it is said
that about 10000 shares had been bought and
that Vanderbilt was purchaser to u large
amount.
There is said to be slight hitch in tho
telegraph settlement, owing to the Western
Union company being unwilling to assume
the cheap press contracts made by the Mer-
chants Union, which run for long term at
losing rates.
LONDON, Feb. 11-12;3O.-United States
bonds unchanged Erie declined Reading,
81 Illinois Central rose !, and st. Paul rose /.
New YORK, Feb. 10.-The papers in the
telegraph controversy we're signed late to-
day, and it is expected that the Mutual Union
gets 2 per cent ON its stock instead of !.
This is remarkable. The prominent officials
that the Mutual Union plant could be dupi-
Gated for less than four millions, and that it
was not earning its fixed charges on that
amount The Western Union company now
assumes control, and guarantees payment on
fifteen millions of securities. The question
now is, viii the Western Union ship float in
so much water?
The market for foreign exchange continues
firm, to tho great surprise of the street. Tho
bal ance of trade in our favor for tho month
was 33, 100000 and about the same for January,
being the largest for any month since 1881,
when it was $5l 100000. The advance of
grain and cotton in Europe will create a fresh
demand for our products here, and should
increase the balance of trade in our
favor to n much higher figure. Tho large
amount of called bonds held in Europe may
account for the tirmness in exchange; but
should the trade continue so favorable no
doubt gold will be shipped from abroad
BANK STATEMENT,
Loans increase 80 O3D 400
specie increase, IbI3UD
Legal tender decrease l,2Sl GOO
Deposit increase. Sv2o2uJ
Circulation decrease. se...................... $4,000
Banks hold in excess $6,4l9700.
THE PROVISION MARKET.
Special DSpdich,
New York, Feb 10-Robert Bruce, No. 62 |
Broadway, reports the corn market very strong, |
although the advance seems checked for the |