National Republican., 1883-05-21

st. Paul common and Pennsylvania Central,
and Ontario improved fractionally.
THE BANK STATEMENT.
Loans increase. 81, 900
specie lncrease......'. o56vOl
Legal tcnuer increase lO9i,UVO
Deposit increase. e...........,........... S496,iO0
circulation decrease........ oI30O
Reserve incr ease. ...................... 756,S00
The Pacific Mail books close Monday, and
the stockholders are advised to transfer their
names Immediately, as some changes in the
directory are proposed and there will be some
contest.
In Union Pacific the principal sellers were
Van Emburgh, George and Brandon. Van
Emburgh is Offering the stock at 90, seller 90.
Peters and Pell and Vanderhoff are the main
buyers. %. ..
In New York Central Post-Wales sold and
Herrick bought. But little was done. In
Lake Shore, Nissan, White, and X. Newton
sold 500 shares each. ,Osborne's brokers arc
buying st. Paul, and some Lackawanna was
bought by 0sbornes brokers.
The bond market is active. Sterling un-
changed.
Leading bankers here like Belmont, Selg-
man, Wormser, and Heath, who are constantly
communicating with London, declare there
is no foundation for the rumors cabled here
this morning Of great distrust in London
with large failures impending and heavy
fall inssMexicans; ON the contrary, London
not until the Both instant.
WHAT WAS DONE.
Stocks opened duh; but generally higher
than at the close yesterday. By noon there
was an average improvement of to per
cent, ON moderate trading. The Vanderbilts
were quiet. Sterling was unchanged; stocks
lent at 3; New York Central at 2; money at
3; government bonds were dull.
At p. m. the whole list was weak, and
fnr ~ 1 t,t Foil
unfavorable rumors ahoat about the general
business outside Of Wall street, and these were
used to depress stocks. At 2:45 as compared
with the opening figures, the most active
stocks had declined to per cent. The mar
ket closed weak, near the lowest prices Of the
day showing a general decline all along the
line, Of from to per cent. from the opening.
The market has been a rare disappointment
to all but q few. The public holders of
stocks certainly had good reasons for ex-
pecting better market to-day, after
the good buying yesterday, and the firmness
of values at the close. The bears who COW
cred yesterday were also looking for higher
market to-day, and neglected to renew their
shorts. The market has been fed all day
with long stock from some ones strong bot
tom. There have been many rumors of a
panic in London to-day but they could not
be traced to any reliable source, and
can be set down as false. The entire week
has been one of suspense First Gould re-
turned from the west giving the most glow
ing accounts of the wonderful prosperity
and earnings of the railways on his
southwestern system, and predicting an ad-
vance at once in prices. Still the Gould
stocks have beon the weakest on the list the
entire week. and close to-day weak and rag
ged from the selling Of long stocks by Gould's
brokers. Willard returned from the west and
made public his very elaborate report on the
Northern Pacific railway, and predicts an
advance in them, The close to-day shows
the Northern Pacific stocks to he the weakest
ON the list. From these facts two conclusions
can be drawn one that the public do not be-
lieye anything they say and sold out their
holdings, or. else Gould and Willard have
themselves been selling the market while do
ing the most talking for higher market The
last is the most probable but neither places
them in q very good light. The public
mistrust them, The market is one of constant
manipulation by such capitalists.
Affairs in London are not reassuring. The
bank of England reserve Is down low, and
the selling of American securities continues.
1t Is believed that we will see the biggest
kind of railway war this summer, all of
which will be bad for earnings, which are
small enough now and causing uneaslness.
Business of all kinds is very dull, and no pros
poets ahead of activity, From appearances
the advance in foreign exchange shows that
The dry goods trade is not very good, owing
to the lateness of the spring, and many of the
wholesale houses will be compelled to carry
their stock over another season,
The iron trade is picking up little, which
is very good indication.
The reports from the coming crop are so
very conflicting that no good statement can DO
obtained of its condition, but the heavy
decline in wheat and corn this week would
indicate that the crop is really better than
reported.
Government bonds arc very strong on the
veto Of tho page bill" authorizing savings
banks to invest in dividend paying securi-
ties. The short interest in the market is
fairly large, and should cause good rally
early next week.
LONDON, 1890. - United States bonds
steady and unchanged; American railways
higher in sympathy with New York market; !;
New York Central advanced 8; Erie, !; Erie
seconds, ! Ontario and Western, ! Pennsyl-
vania, 4; Reading, /; Illinois Central, 4,
-.'- STOCKS.
The following are the opening, highest,
lowest and closing prices Of tho principal
stocks iOr the day, as corrected by special wire