National Republican., 1883-12-17
THE MONEY MARKET.
Review Of Last Weeks Transactions on the
Stock Exchange.
A Firm Closing, Notwithstanding the
Attack on Northern Pacific.
THE SITUATION.
Specfnl Dfannlch.

THE SITUATION.
Special Dispatch.
NEW YORK, Dec. 15.-No material change has
occurred in the commercial situation during the
past week.
Failures, which are usually associated with pro.
longed dullness continue, and sort Of jubilant
uneasiness is expressed by the bears lest the first
OF January may bring numerous disasters and, as
consequence, Wall street has passed disturbed
week. especially ns the publ lie has had the threat
ened rupture of the western rate pools as daily
diet; Therefore 1t cannot bo expected that stocks
would hol d their own, even with large amount
oil freight offering, while the officers OF railroads
are disputing about rates.
The Willard stocks manifested great weakness
during the week, developing no additional fact
except the recommendation of the executive com
mittve of the Oregon Transportation in favor Of
passing the January dividend, which, under the
circumstances, was wise, and enhances tue value
OF the stock.
The attack on Oregon Transcontinontal was for
purpose OF demoralizng the general list,hoping 10
be able TO cover short contracts, which, in conso-
quence ofthe largely oversold condition ofthe mar
ket has become very desirable. The decline in the
Vanderbilt speciaties, and in Lake Shore, in par
ticular, has beeu prominent feature OF specula-
tion during the past week, which was attributed
TO inside selling, while the exceptional rise In
Reading was reported TO have been caused by in
side buying. Tho last quarterly report OF the
Western Union marks falling off In busness.
This is the result Of the competition now in ex-
istence. which Is assuming formidable proper
tions.. Tho price of Western Union stock, how
ever has been very little affected, as there is 30
The exchange market has been dull and the
business small. The temper Of fthe market IN rail-
way bonds has undergone quite change dur
ing the week SO far as speculative issues are con-
cerned. Although the market has continued
active the prices In many instances have dc.
clined indicating the first reaction In the general
upward tendency for several weeks.7
West Shore bonds have been most active, daily
transactions having ranged from $500 900 to $780,
900 daily, the price declining per cent.
Inc market for future cotton speculation has
been fairly active for the week.
To-day Saturday much depression was noticed
In Liverpool, receipts at the ports were excessive
and stocks at the Interior towns showed further
increase, under which there was fresh decliue
of6 70 points with free Sellers but the close was
steadier.
Tho market for dry goods has been very quiet
both In commission and importing circles, there
being disposition on the part of wholesale
buyers to reduce their stocks to the lowest posi-
pie point owing to the approaon OF the closing
year iNGN,tt
SATURDAYS REVIEW.
=, Up town was quiet, with bearish sentiment al-
though predictions of q rally were current IL was
portation was sold. Some OF the big bears said
shorts
Selling of Louisville and Nashville was con.
sidered bear drive, intended to shake out long
stock held by the pool. The excuse for seliug was
cut rates by East Tennessee, Memphis and Charles
ton, Air southern, and Louisville und Nashville.
Ohicers OF the southern roads said the cut was
general. There is report of a reduction IN pass
enbeI rates Dy the eastern trunk lines over the
Wabash. Missouri Pacific, and Northwestern roads
for the purpose of throwing the bulk of business
over those lines as a punishment of other lines.
This was considered bull point in Wabash and
Missouri Pacific, although indicating strained re-
ntions. Commissioner Pierson said the executive
committee felt strong enough to carry out its
outside agents.
General Manager Clark, of the Union Pacific
said privately that business on the Union Pacific
lines had this year been done at a reduction Of
nearly one. third in rates from last year.
Grain bulls said last night that the corn deal
would be repeated In wheat and that arrange
ments were all ready to spring the trap Ger
tainly there Is an immense short interest and
prices advanced easily despite weak corn
The provision market was stronger on account
of war news.
Bears on Union Pacific said the through busi-
ness OF the company was 50, 9,5l6,677 showing how
vital 1t was for the Union Pacific to seek u pro-
vanderbilts brokers said last night that Wand
er0ilt had nothing TO do with the manipulation of
Reading It had been bought, and Lake Shore
sold, by clique using Vanderbilt brokers.
Private cables report more pressure TO sell
French securities.
to-day Tor New York in the interest of a new
bull pool in wheat.
Itis officially stated by President winslow, of
the N. X. Construction company that ali the West
Shore bonds held by the construction company
have been taken for investment, and are not OH
the murket The road will be opened Jan. for
The Twenty-third street party sold Canada
Pacific, and II was publicly announced this morn
ing that they would break 1t.
Post, Wales Il Co. were buyers, Sales of stock
up TO noon, 10000 shares.
There was no quorum. at the Union Pacific
meeting day, and 1t adjourned till next Thurs
day. Dillon was unable to attend.
The selling of Lake Shores was started by R. X.
White, who sold 100000 from M to H. Mr..
Johnes offered them down to 70. when the reac.
tion set in. A. Leo & Co. and f. L. Frank & Co.
were heavy buyers, the latter taking $4,000.
Groesbeck d schley sold 5000. Upward of
Sl 100000 were bought and sold up to p. M 1t Is
believed to have been n heavy covering of shorts.
ceiyed for the 100000 bonds has been 90. The
n. r. construction has broken to 43. Three
thousand shares were sold yesterday. and day
ket on which money had been loaned at So
President Dillon, OF the Union Pacific notified
the directors to-day he would be at his office early
1t is automatically stated that the examining
committee has not been refused access to the
Oregon Transportation books.
Share speculation in the Villards, Louisville
and Nashville, Canada Pacific, Missouri Pacific
and Union Pacific stocks was weak and depressed
trihe with firmer tone A savage attack was
made on Northern RAciflc preferred, sending IL
down 2H points. The general market, however
dio not sympathize with tho sharp break, and
closed firm.
Sales to-day aggregated 4sl ! 1876 shares, including
Delaware, Lackawanna and Western, SO 600; Erie
5000 Lake Shore, ,446O7O Louisville and Nashville,
$3.50; Missouri Pacific 1i,6O0; Northwestern,
u, $50; New York Central, 1sSOl Northern Pacific,
lg23O; Reading, 1900; st, Panl 27 $780, Union Pa
ciiic, 400 Western Union, $500; Canadian Pa
Gr Sine isTsG Northern PGciiic ~ & Preferred $500;
alton, $500; Wabash preferred. $3.50.
BANK STATEMENT.
Loans decrease. ...........-.--....... S5643oO
specie decrease, .-...... 19l.20O
Legal tenuer lncrease"...... 670600
leposit decrease. ACKNOWLEDGEMENTS. 3SgTO0
Clrculatlon decrease. ....,...,.,........... b.
Reserve increase. e...............-........, 6S5S25
STOCKS.
Tho following are tho opening, highest, lowest
and closing prices of the principal stocks for the
day, as corrected by special wire reports received
bV Buteman K Co bankers No IlII II ,traat ,,e,,I