National Republican., 1883-03-08
THE MARKETS.
The Squeeze in Money Makes the Bears More
Bearish than Ever
Plenty OF Prophecy But No Apparent
Promise OF mn Improvement.
sp,eia, Diga,cn.

NEW YoRK, Mar. 7.--The up town bears
were in high spirits and more bearish than
usual last evening on account of the weak
closing of the market, and they predicted
lower stocks and higher money to-day. Woer-
ishofrer said the stringency in money would
be as severe as in 1873
1t was reported that several banks had ex-
acted per cent for call loans yesterday, and
Colgate called in two millions early in the
day. Brokers reported that the story in brief
Of yesterday was this: Cammack and Woor-
ishoffer manipulated money again, and sold
stock. The result was that tho small traders
and forty eight hour bulls who bought on
Monday sold out and went short This class
oftradors are believed to be out of the deal now.
Gould's party continue bullish, and so talk
TO their friends. The brokers say Gould is
still working Delaware and Lackawanna, but
he appeared to be seller yesterday. The
Vanderbilt brokers arc still bullish, and re-
gard the temporary fluctuations as of no ac-
count, and say they believe in a higher mar.
ket but somo say the Vanderbilt youngsters
have sold their st. Paul, and their following
also Gran yesterday.
Conservative operators thought last night
that the market would close stronger to-day
than Tuesday, but they were somewhat puZ.
zled about the money market. Still
they believed stocks were being held by
the strong men, and the artificial strin-
gency of money would be powerloss
Tho street is bearish and tho room traders
are "on the fence" but Johnes remains a
bull. Estimates vary as to the amount OF
chi for pnpio h,t- ss
three millions. Mauipulators of the money
threaten to make loans to per day before
the stringency ceases. They claim that Lon
don is selling our stocks now, which counter
balances the consignmcnts of gold. Wocr-
ishoffer says London sold Erie, Oregon, Wa.
bash, and Lake Shore in the market ycster-
day
Stocks opened firmer. Vanderbilts were
dull. The room traders are selling Delaware
and Lackawanna, and there is no prominent
buying, Later Johnes bought various stocks
all over the room.
London dispatches reported Virginia con-
soils selling at DC against so yesterday. II is
said Van Hoffman Withdrew f400, 1000 from the
Bank of England for shipment. Money at S
bid stocks lending at g. Sterling unchanged.
Van Hoffman g. Co. deny the statement that
they withdrew 100000 from the Bank OF
England, and further say they have no advice
of any shipment of gold being made to them
from Kiernan's office.
Time money is offered at 6. Sterling is
heavy, owing to the monetary stringency.
Governments are weak for As; IS steady.
Sage says it is not true that the Galveston,
Houston and Henderson railway wants a
loan of $2,O00,000. The Vanderbilt people
say the Lake Shore earnings for the fourth
week in February increased $125 600 over last
year. They say the Lake Shore will earn p
per cent for the quarter. New York Cen
tral for the past three months earned the
largest revenues ever recorded.
Browns rate just reduced from ASIA to 4
for exchange.
The 100000 will probably come to Van
Hoffman & Co., but they have not yet been
notified. Seligman & Co. say this consign-
ment was offered to them, but declined.
The British bank and Morton & Bliss each
had 100000 shipped earlier in the week.
About S2,000,000 was loaned in the board
this afternoon at 10 per cent.
Sterling inanimate. The supply exceeds
the demand.
REVIEW.
The general list opened fraction higher
and there was better feeling than was ex-
pected but trading was light and without es-
pecial feature.
Rock Island and Reading sold Off fraction
ally. The Vanderbilts were dull but inn
proved somewhat at noon. The room traders
did most of the trading in the market up to
noon. Rather more was done in st. Paul
common and Lackawanna than in anything
else, but there was no improvement on yes
terday's figures.
Money was again manipulated by the bears
and at 1880 the rate for call loans ran to 8
per cent. This of course checked stock deal
ings.
Stocks loaned at to 8.
Money was however, offered on time loans
at 6 per cent.
Sterling exchange was heavy and lower,
This was mainly attributed to The monetary
stringency and heavy offerings Of commercial
paper.
Government bonds were weak for As and
steady on 3's
The London press dispatches this afternoon,
reported 100000 more withdrawn from tie
Bank Of England, supposed to be for shipment
to America.
On the second call speculation was very
quiet. but prices were well sustained, not
withstanding money was quoted at 12 per
cent. for call loans.
At 2 o'clock the market became stronger at
the best prices of the day; an improvement,
except in Delaware and Lackawanna, st.
Paul, and Union Pacific, which was frac-
tional
Money at 2:15 was at 10,
The Western Union was strong feature
during the last hour aud advanced on the re-
port Of an increase in dividends to Ii per
cent.
LONDON, 1890 p. M---United States Als,
higher; Erie lower; New York Central,
4 Illinois, I Pennsylvania Central, lower,
and Ontario and Western, lower.
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 Bateman g. Co., bankers,
No. Corcoran building:
Nam. o,.,.., J Z j y