National Republican., 1883-05-14

Legal tender increase. e................... S03,50O
deposit increase. 6,b26SO0
Circulation increase. se...................... 4SO0
RESERVE incr case ,........-......... S,oyylOD
This was very favorable statement, but it
did not check the decline in stocks.i -'n.
-. REVIEW OF THE WORK, $50
The market opened quiet. but with a dis
position toward further liquidation, especially
for Nanderbilts and coal road.
Reports were current Of more trouble among
the trunk lines. Mr.. d. p. Morgan's brokers
were selling Now York Central, and the
foreign houses also sold literally. The only
prominent buyer was Walter Nelson. 1t was
known that Keene was n large seller of the
general market. 1t was also reported that
Gould and Sage were selling while talking
bullish. II is reported, aud generally be-
lieved, that II, N. Smith had unloaded to-
day. The best sustained stock was New York
Central, which, TO the second call had only
declined to 4.
The Northern Pacific stocks were slightly
lower to-day. Government bonds are with
out business, and 3 per cents, were in tho
market for sale from Europe.
Sterling is unchanged; stocks lent at 3,
except New York Central which continued
fiat Money was easy at A bonds dull and
neglected. In the last hour the market was
weak and feverish.
The announcement was made that Arnold
Lee had filed an amended bill in the United
States court against the Union Pacific re-
straining the use of any funds from the sale
OF the collateral trusts for building the
branch lines. The defendant filed de-
murrer.
J. X. Warren was large seller OF Louis.
vile and Nashville, on seller go days options
this afternoon. Nat Hunting sold New
Jersey Central.
AT 245 there was halt in the decline, but
the business was very light.
Money, at the close, was offered at 81.
REVIEW or THE WEEK.
Opinions seem to be equally divided re-
garding the future course of values There
are great many large firms in Wall street
that arc carrying very large line of stocks
for their customers, hoping for some favorable
news to put stocks up and them out. In the
mean time the market seems TO be suffering
with the dry rot, and all the news that comes
seems TO be uniavorable. Every day wit
nesses large amounts Of new securities listed
ON the exchange, and no one knows who is to
take care Of them. There is every prospect
OF rcd hot competition among the big rail-
ways for business this summer. SO many
new roads are coming into the field that there
does not seoin to be enough business TO go
around.
The crop report issued on the eleventh.
while 1t was regarded rs being unfavorable,
was not 30 bad as tho public had been led to
believe by the state board reports
In the absence Of any disposition in the
general public to speculate, some circles have
found encouragement for higher market
values later on in the disposition of the New
York legislature to widen the class of invest
monts corporations are allowed to put their
money into. An active opposition, however
has been excited against the "Page bill"
which is certainly an innovation, aud will be
very carefully considered by Gov. Cleveland
before he signs it.
The general tendency of the market this
week has been downward, Central Pacific be-
ing quito prominent in the downward move
ment. Thore may be no connection between
this event and the presence in New York of
leading California railroad manager but
the decline invests with new interest any
thing that Mr.. Crocker (who is president of
the Southern Pacific, and second vice
president of the Central Pacifc) may say
about the relations between these two corpo-
rations, He admits that the Southern Pacific
lease is proving very profitable to the lessee,
and that the lease has not much longer to
run, butwill not commit himself as to future
arrangements.
Another feature of the market has been the
advance in Jersey Central, caused by the re-
ports, subsequently, confirmed, that the ar.
rangements for the lease 10 tho Reading
company were completed, but on the publica-
tion of the supposed details the stock declined
on Thursday, Friday, and Saturday, closing
40 nv, 1t was expected that the road would
be taken out Of the hands Of the receiver.
The reason given for the delay is that the
examination ofthe books cannot DO completed
in time, so il has been decided 10 make the
lease aud leave the dissolution ofthe receiver
ship to tho directors.
The trunk line properties have been de-
pressed this week by reports of reduction of
rates on east bound business, aud rumOrs
were current of reduction under the revised
schedule. The retirement of Mr.. Vanderbilt /
f,o., tha nragidaneV nj the Nav XorL na.,
sral and tho Lake sh0Es has probably hslpsa !,