National Republican., 1883-04-23
WEEKLY BANK STATEMENT.

The bears are hammering the market on a
report that tho President is very i'll, but
telegram from Savannah this morning re-
ported him better.
press says that the President will start for
Washington at 4 o'clock p, m. to-day, and is
all right. .f
The market opened per cent. higher for
New York Central and Wabash preferred,
and to for Erie, Central Pacific, Lake
Shore, Louisville and Nashville, and North
western, and the market continued strong
until IL o'clock, when there was slight re-
action on duller market.
The Vanderbilt brokers, led by Hollins,
Post, Welles, and w. S. Webb, bought North
west freely; Scranton & Willard also bought.
The sellers were Oracle, James Wilson, and
Bissell. St. Paul common was sold by Salton-
stall g. Co. and others.
Sterling is quiet and unchanged. Govern
ments are in better demand. Money is 6 to 81.
On the second call trading was very light and
with downward tendency. 1t was noticed
that stocks came out freely on every fresh
advance The market was hurt by rumors
that tho President was veryii. Later this
was denied and the market rallied very
slightly. London was selling Wabash upon
the announced further issue of collateral trust
bonds.
At 2:30 trading was quiet and Wabash was
the weakest feature of the market, and this
continued to be the condition Of the market
at the close.
RETROSPECTIVE AND PROSPECTIVE
During the past week some progress has
been made In stock speculation, but it has
been OF such an irregular nature rs to yield
but little profit to the outside speculator.
The conditions all remain favorable, and with
easy money, large railway earnings, good
crops, weather, and large exports it is not
strange that the street looks for an advancing
market, checked somewhat by natural reac-
tions.
While the crop prospects may In the future
be the governing factor in influencing the
market its effect while its volume is still
matter Of doubt is not of Importance. We
can add but little to our remarks of last week
on winter wheat. 1t may be that cold and
frost have injured 1t in spots, but 1t is by no
means certain.
The weather has been good for spring SOW
ing, and good start in heavy planting 10
expected. Wheat speculation has revived
with advanced prices, thus tending to retard
foreign shipments, which, while large, are not
SO free as they might be.
The statement Of breadstuils exports for
March, issued by the bureau of statistics, Is
satisfactory in the matter Of showing an in
crease Of two millions in total value over
February. The March general trade state
ment will probably make better showing
lllhu uiu Nhab VI fNpiudlyJ anu may IcNcdl
the cause for the exchange decline and gold
movement this way which marked that month.
The foreign exchange market has been
dull, though fairly firm on slight relapse.
No important change Is anticipated in ster-
ling until after the next crops begin to FAR
rive. At present the demand depends upon
the necessities of importers; a demand, the
future of which Is uncertain, as II cannot be
conJecmred what influence the tariff changes
the last of which go into operation July
1--may have upon il. 1t cannot be said that
general business at present favors heavy inn
portations, Its volume is less than that of u
year ago, and profits arc small Mercantile
paper, too, is not as readily discounted as has
been the case In the recent past, and when it Is,
it is closely scrutipize1. More especially is this
the case with single-name paper, Altogether
the chances favor light importations during
the coming summer. As Europe will proba-
bly, call on us for all our surplus food pro-
ducts, low exchange and large gold arrivals
may he reasonably looked for during the first
half of the coming fiscal year.
In the stock market, il being supposed that
the bulls had unlOaded. .,heavily during the
rise of week ago, the bears on Monday made
an onslaught for a decline. The market
promptly rallying, however, they withdrew
their claws, and temporarily abandoned the
assault
The announcement on Wednesday that the
Chicago and Northwestern had issued ten
milliopsnew bonds, whore an extra dividend
had been expected, again exposed tho raw