National Republican., 1883-01-15
THE MARKETS.
Dullness Still Reigns Supreme in the Wall
Street Stock Exchange,
Though. Everybody Processes to Believe
There is Boom Coming.
SATURDAY IN WALL STREET.
Special Dispatch.


NEW YORK, Jan. 13-stoclls opened weak
and dull, and southern stocks, such as Mem
phis and Charleston, Richmond and DanSille,
and Wabash Pacific terminal, dropped about
3 per cent.
The active list declined to II. Delaware
Lackawanna and Western, which Kcene
pressed for SALE and of which Hotchkiss sold
800 shares, was per cent. Off
The large bull traders quietly picked up all
stocks sold by the bears without attempting
to sustain the market, but sharp rally was
again made just after 12 o'clock on n very fa
vorable bank statement, which showed gain
of S3,2OO,0O0 in reserve. Trading was very
dull on the second call, but the decline was
more than recovered in everything but the
southern securities.
1t was reported this afternoon that the
leading bulls in the market would probably
combine fora sharp advance next week. This
party includes Gould, Sage, Osborn, Smith,
Cammack, Gurney, and the young Vandcrbilts.
Money loaned ON call freely at 5 TO A, and
stocks at 3 to 3.
Northwest New York Central, Lake Shore,
and Union Pacific loaned at 3.
Sterling exchange was steady and dull
Government bonds were quoted dull and
of, but there were no offerings at the quota
tions given. At halCpast 1 stocks were dull
and stubborn at the very best figures of the
day.
IL was announced that the government di-
rectors of Union Pacific road finished their
examination OF the company's books and
would report about February l. Early in the
last hour stocks were dull but strong, espe-
cially Richmond and Danvillc.
The close was dull and firm, and gave indi-
cations of a further advance on Mon
day. Tho stubbon way in which the bull
leaders support and maintain the market
shows that they believe in much higher
prices. They have not been able to unload,
and have shown ability and desire to further
accumulate stocks.
The president of tho Delaware and Laclla-
wanna road says the half time suspension of
mining agreed upon is only onesweek's opera
tions at the mines.
Hotchkiss & Burnham sold 5000 shares of
the Delaware and Lackawanna this morning.
The Norfolk and Western road has given
notice to the stock exchange Of the issue of
10000 shares of common stock.
Il. A. Drake is selling great many stocks
in the board to-day. Friends of the Memphis
and Charleston say the money to secure cancel
lation of lease TO the East Tennessee road was
rendered some months ago, but its acceptance
was delayed Tho subsequent injunction
proceedings by a small stakeholder prevented
further immediate action, and when the new
arrangements had been completed the tender
was refused by the East Tennessee, which
demanded that the c. St. l.. should also take
10000 shares of stock at GO. This was refused,
and negotiations were broken off.
The most conservative street, brokers con-
tinue bullish, and say that Notwithstanding
the dullness, there are few long stocks offer
ing except by manipulators, and the market
is steadily hardening. There is already some
disposition on the part of the public to enter
the market, and number of commission
houses report business rcviving. Some OF the
commission houses report considerable foreign
buying, and they expect to SEQ easy money
three or four months ahead, and declare the
short interest is increasing 10000 to 10000
shares per day.
The best class of room traders, except Kirk
ney, are bullish, and he is short about 10000
shares.
Gould talks very confidently of 10 to 10
points advance before March l, and says stocks
will be up considerably before Feb. l. He
told friend yesterday that he thought lie
would make 5000 on the 1,OOOshares of West
ern Union he had Just bought before the lat.
ter date, and he believed by Feb. ] stocks
would be generally higher, He has not been
in the market lately, owing to bad weather,
but he is liable to DO heard from next week.
Sage said he looked for duh trade to-day,
but by Monday there would be another ad-
vance,
Cammack says he has done nothing this
week, but the boom is en- route. He thinks
we'll of Erie as purchase.
There is no truth in the report of an over
issue of Denver bonds.
The Vanderbilt people and Receiver Little,
of the New Jersey Central, denies tho Her.
ald story yesterday that Vanderbilt had
controlling interest in New Jersey.
Harry Smith said last evening that he
had bought 6,OOO shares of Elae yesterday, and
Cammack said he had intended himself to
buy 10000.
1t is reported that there is a possibility of
an adjustment of tho Elevated railway
troubles on new basis soon,
The stockholders of the Metropolitan hold
conference this afternoon to consider
proposition from other parties.
BANK STATEMENT.
Loans increased ....'''''''''''''''''''.'. $4,000
specie increased ..'..,.'''''''....',.,, 3320OOO
Legal tender increased ..............,,. 2l6S,20O
Deposit increased ACKNOWLEDGEMENTS. 603Sg0O
Circulation decreased :.,.....,..,..,...,. 1900
Reserve increased ...,,.,..,...,...,,.,,, 3233i7j
LONDON, 1880 p, m,-United States OK
tended SIS rose / /; Erie rose 4; Illinois Central
rose / Pennsylvania Central rose D; Reading
rose !, Others unchanged.
REVIEW OF THE WEEK.
Our stock market has been without life all
the last week, and the average commission
broker, ifhe is conservative, will have to reduce
his Sunday contributions by about one half
The dear public have LET stocks alone, and are
busy trying to figure the losses of last year
over on the profit side of the account. The
railway earnings are still very large and the
exports are increasing daily still the surprs-