National Republican., 1883-07-09
THE MARKETS.
A General Review Of the Situation in and
Out Of Wall Street
Saturdays Trading--Crop REPORTS from
thc west-Gencral News.
SATURDAYS POINTERS.
Special DfsDdtch.

bulls were inclined not to be much moved in
that direction. They argued that the best
class of traders are out of town on Saturday,
and the trading is only nominal at present.
The Morgan-Smith party express great con-
adence in an sdvance for the coal stocks and
tell their friends that they are "good things"
Jersey, Delaware and Lackawanna, Reading,
and other coalers are very stifily held. Tho
large room traders were bullish at the closing
yesterday, and reported disposition to buy
by the big bulls at Saratoga and Long Branch.
Some little inside selling, however, goes on
constantly, but this is expected by the
ciques. A prominent operator in st. Paul
bought the stock yesterday, and brokers re-
port the outside feeling in the Grangers is
gaining power, but there will be no concerted
movement until the fato of the crops is as
sured, about the twenty-ffth instant.
The Chicago Times specials this morning
say that the outlook for crops in tho north
west is plcndid, and fino rains have removed
all fears from drought, IL such fear existed
At the opening Herrick offered New York
Central down on sellers options, and also
Lake Shore. Tileston bought Lake Shore and
Campbell sold. Drummond offered Lake
Shore in 1000 share lots In Lackawanna
Drummond offered the stock, and Ellison, a
new man, was tho largest seller. Camman
bought most stock. Demott & Durant
bought 900 of Jersey.
Nothing is doing in telegraph or Union
Pacific of moment.
The Chicago Tribune dispatches say the
directors of the Ohio and Mississippi railway
are preparing to take the road from tho re-
ceiver.
A special from Bethlehem, Pa, says the
Bethlehem Iron company this morning closed
their mills, throwing 1900 men out Of en-
ployment.
s. V. White is large seller of Lacka-
wanna. Northwestern was offered down by
Barlow, and two stop orders were caught on
l,20O shares E. NJ. Travers was the princi-
pal seller.
THE BANK STATEMENT.
Loans increase. 900
specie decrease .........s'............. l,3s0lO
Legal tender decrease. e.................. 1861 900
Deposit decrease. 1,4il700
circulation decrease. .......,............ 3J3O0
Reserve decrease. ...................-. 2,595795
LONDON, July Z, 123o.-United- States
bonds unchanged, Illinois Central / higher,
Reading 3.16, and st. Paul higher.
THE SITUATION.
Trade in all its departments has, as usual
at this season, been very quiet. The first
week in July has of late years been more and
more given up to recreation by business
circles, and the situation remains about as
last week. The weather generally has been
favorable to growing crops. Messrs. X. G.
Dun & Co.'s report of failures for the first six
months in the year show total of 4,637, with
aggregate liabilities of $66, 900, 900, which is
over 1000 increase in the number of failures
and $10,000000 increase in the aggregate
liabilities over the corresponding time in
1882. Of the aggregate of liabilities of
$66,000,0O0, $11,000,000 were in New York
city, S,500,000 in Chicago, $1,500,000 in
Boston, $l,000,000 in Philadelphia, 81, ,000,0 900
in st. Louis, and S1000,000 in San Francisco
The report gives formidable array of figures,
which show that the increase in the number
of failures the past six months has been due,
to a considerable extent, to the speculative
failures in grain and provisions. Aside from
this, however, legitimate traders have sus-
tained heavy loses by the decline in prices of
the great staples and the principal manufac-
tured articles, which have forced them into
liquidation or readjustment of credits. The
increase in failures Is not regarded here as
unnatural or unexplained, but merely tho
effects of a reaction from the extreme elation
and cxhilaration which prevailed a couple of
years ago Money continues glut in the
market, which received very liberal access
sions of funds through the interest and divi-
dend disbursements incident to the first of
July. Money on call is easy ut 9 to "a.
Time loans on prime stock collaterals
are obtainable for 5 and months at to
per cent, the rate being governed by the
character of the securities pledged. The
crease in reserve being 2,500000, which is
accounted for by the heavy Withdrawals for
duties under the new tariff. In London the
demand for money has been light, and quota
tions have tended downward The Bank of
England lost G172,000 in bullion during the
week, mainly because of the semi annual set
Elements. Sterling exchange ruled dull.
Rates were unchanged but weak.
Government bonds We're strong and tend
ing upward on the long date issues, but the
IS were weak and lower, caused by report
of resumption of bond calls.
Railway bonds have been dull, but firmly
held. Western shares and Texas Rios have
enjoyed the principal business. The former
are quoted 7Ss to 79t exclusive ofinterest and
the latter at Sig to S4! The business in all
others has been small. There has been
scarcely nothing done in state bonds, though
the Arkansas issues in aid of railways which
were active last week, have reacted and are
quoted to 10 points lower according to the
issue.
The New York cotton exchange was closed
on Tuesday, Wednesday, and Thursday At
Mondays closing futures declined to 6
points under favorable reports from the grow
Ing crop throughout the south and southwest
On Friday the market opened under feeling
of great depression. Tho weather in the
south had in the interval been hot and fore
ing. and Liverpool advices showed decline
of 6i so there was further decline of ii to
81 points On Saturday there was u still fur
cher decline of to points, but the market
was firm at the close, owing to shorts realiz-
ing on their contracts.
Spot cotton was fairly active for home con-
sumption, but there was small export de-
mand. Quotations are bc lower on all
grades.
The business in dry goods has been very
moderate. The fourth and fifth were observed
as holidays by the principal houses in the
trade. The demand for all kinds of summer
goods, excepting perhaps speciality in lawn
goods, has been light and unimportant. The
jobbing trade continues quiet. There was
fair business in some of the leading makes of
fine brown cottons. Bleached goods ruled
quiet, and some makes were trihe castor in
price, but the best qualities were firmly held
The demand for woolens was very light and
unsatisfactory. Business with importers re-
mains quiet and light.
THE STOCK MARKET.
Stocks were dull and almost featureless un-
til after the fourth of July holiday. The de-
cline in Western Union on Monday was
caused by the refusal of Judge Freedman 10
vacate the injunction granted to restrain the
payment of dividends on the alleged illegal
issue of stock, but Il recovered on the an
nouncement that checks for the dividends
would be forwarded stockholders as they fell
due. On Tuesday the coalers advanced on a
report of a settlement Of the injunction pro
ceedings before United States Judge Nixon
at Trenton. by the Reading company. The
business on Tuesday, however, was almost