National Republican., 1883-07-23

New York Central is in demand at 16l, and
Vanderbilt brokers are the heaviest buyers
The brokers say n Broadway Vanderbilt house
to-day returned 10000 shares of New York
Central, which sold at higher prices and bor-
rowed a long time ago.
1t is whispered here that the remaining
operators in tho Western Union office at
Washington will quit work this afternoon.
The latest accounts from Chicago were that
,nly three operators were at work there to-
lay, and were under police protection.
The ticker men, also the check clerks (about
fifty, have struck in Chicago.
BANK STATEMENT.
Loans decrease. iS3 200
specie decrease. 10000
Legal tender increase. e................... 06l 600
deposit decrease. ,l2l6OO
Circulation increase. ACKNOWLEDGEMENTS. 5000
RESERVE increase ....................... l,Ol,4OO
Not a quotation has been received from Chi
cago over the Western Union wires this after
noon, and business at the produce exchange
is nearly suspended This is niso the case at
the cotton exchange.
THE SITUATION.
The crops, which are ever n point of general
interest in trade circles, have been more than
usually discussed the past week, and all re-
ports show great Improvement. AS we pre-
dicted last week, the rumors of damage to the
crops in the great northwest are shown to
have been greatly exaggerated, not only for
stocks. Still it must be admitted that there
was cause tor some of these rumors because of
tho drought in the northwest, but timely
rains have dispelled these ruinors, and pros
poets now are good for n wheat crop of average
proportions. Tho corn crop is also making good
progress, and it can now be said for n
certainty that the crop will exceed that of
1S79-'SO, which was the largest ever raised
being 1,154, 100000 In this connection it
should be borne i'll mind that the increase in
acreage is over two and half millions
While all this is favorable for the general
prosperity of the country, and cause for con-
graduation, there have been disturbing intu-
ences unfavorable to trade during the past
week. On Thursday strike of telegraphers
took place. While the effects of the strike
were largely discounted before it took place,
still the public were unprepared for the great
shock when it came. Business on the various
exchanges has been practically suspended,
and the transmission of the few orders there
were was greatly delayed Business men
snow dlslnclination to trust their tele-
graphic orders, sometimes amounting
to hundreds of thousands of dollars,
to inefficient operators, and the companies =
in spite of their whstling, seem unable to
get competent men, SO until the return of
the ordinary routine, small or no business
can be expected, either speculative or legiti-
mate. The provision market early in the
week was materially improved, but with the
introduction of the aforesaid strike, values
became unsettled, communication between
here and Chicago became erratic, and on yes
terday entirely ceased and feeling of doubt
and uncertainty was engendered. A settle
ment of the telegraph trouble is expected
and in some circles demanded the coming
week, when u largo volume of business may
be expected.
The receipts of cotton for tho week were
10000 bales against II, 900 the previous week.
The exports were 10000 Total stock, 337 ,676
bales. Owing to the telegraphers' strike the
reports of the growing crop are meager, but
those received point to the condition as being
less favorable. Futures have been fairly ac-
tive. decline set in on Monday, and was
continued on Tuesday. Wednesdays closing
showed slight increase, which was lost
Thursday. Spectators for n rise used the
strike on Friday and Saturday to increase
prices. But business was dull, and at the close
ON Saturday prices were about the same as
Mondays opening. There continues to be
moderate demand for spot cotton for home
: consIIifpton, but a small export demand. No
change ira. Orices has been recorded
since last Saturday. The situation in the
dry goods trade remains about us last week.
Autumn fabrics have enjoyed fair business,
and there was II steady call for staple goods.
Foreign goods remain in moderate demand,
mostly from the west. The outlook for
good fall trade is sencouraging, and dealers are
consequently in good spirits Some say, how
ever, that the "hand to mouth policy lately
pursued by out Of town jobbers has boen at
tended by such satisfactory results that they
are buying very sparingly
The iron trade shows some slight improve
ment in the demand, especially for building
purposes, still prices for nearly all grades are
too low to admit of any profit.
Money on call is quoted at % to g. Tho
supply is abundant, and the indications are
that the ease of the past few weeks will
be prolonged until an interior demand
upon this center give more active employment
TO loanable funds. Time loans are quoted at
to 81 for first class double names and 8 to
for single names The market for sterling
exchange has been dropping. On Tuesday
Brown Bros. reduced the rate cent per
pound sterling, and again on Friday there
was apOther reduction of ! cent, closing quo
tations Saturday We're 4S3l to 81; government
bonds have been depressed, and prices are
lower for nearly all issues. The 3Fs remain
1Ol bid, AIS declined l. and the As declined
{. The market for railway bonds continues
dull, and generally lower prices prevail !
West Shores declined to 7lf ON Monday, and |
enjoyed the most of the business, they closed |
strong at 7Js on Saturday. Texas and Rio
Grande did a fair business, selling at 81 on
Mondays closing Saturday at 50. No bust |
ness to amount to anything was done in |
Others State bonds were very dull during |
the week. The Arkansas railway aid bonds |
were per cent. lower for the New Orleans |
and Pine Bluff ISSUE |
THE STOCK MARKET |
The decline in stocks from Monday morn |
ing until Thursday noon ranged from l to 10 |
per cent. There were several causes for this. |
Foremost Of these was the threatened strike |
OF tho telegrapheTs. The strike was threat |
ened Monday, confirmed Tuesday and Wednes-