National Republican., 1884-04-07
THE MARKETS.
The Heavy Weights Taking a Gloomy View
Of Stocks
DuIIness and Depression In All Lines of
Trade.
THE WEEKS REVIEW.
Specidl Dispdich.

actions and general sbrinkhgo Of values
have been the features of Wall street during
the past week. The decline was not brought
about by any special attacks but the power
full grip which has held values in place so
long seemed to have relaxed. The "lost grip"
was not obvious, because tho recovery on
Thursday seemed tU suggest that perhaps it
was feint to encourage a short interest
again rather than any exhaustion or change
of heart. The market on Friday, however,
though it opened somewhat strong, subse-
quently, became weak, which dispelled the
impression that any permanent recovery had
set in.
The Gould spccialties and the Grangers
have been the principal features of Wall
street. 1t was believed that Immediately
after his return from the south Gould would
proceed to push up the market, but this pre-
diction has not been fulfilled, and his friends
are disappointed in that respect. On the
contrary he has been apparently apathetic,
which has to some extent given basis TO the
rumor that he was in favor of decline, and
further that he was assisting the market in
that direction. The speculative sales of
Western Union, Missouri Pacific, and Union
Pacific was probably caused by these rumors,
which brought out some long stock.
During the middle of the week it was
reported that congressional legislation nd
verse to the Pacific railroads would be pushed
by the committee on railroads which caused
Union Pacific stock to drop oil rather sharply.
On Thursday Western Union stock declined on
the report that 100000 z per cent. first
mortgage bonds would be issued to pay for
the new buildings on Broad and Twenty
third streets, aud the laying of the pneumatic
tubes, instead Of being paid for out of the
earnings.
Northwestern stock was also weak, which
tl,, Itytl tl,oa ,nt,t
that the directors had decided to absorb the
Blair system of roads in Iowa and Nebraska
which are now leased to the Northwestern,
and to pay for them with Sl4OOO,OOO Of new
common stock.
On the whole it may be stated that the
stock market has been weak and feverish
during the entire week. with general de-
cline in prices, with the exception of the
coal carriers, which have been pretty we'll
sustained, particularly Reading. During tho
latter part of the week the break in the grain
and provision markets had a very unfavor-
able influence on stock speculation, which
was further intensified by the large export of
gold.
The railroad bond business has diminished
to some extent during the past weeks, moro
especially in the speculative issues. In the
better class of investment bonds there still
seems to be steady demand and prices were
generally higher.
There has been much excitement in the
cotton market, and an important advance in
prices. Speculation in futures has shown in
creased activity.
The building committee of the stock ex-
change has completed its work, and wiz soon
issue report. There were two strong advo-
Gates in favor of moving, but 1t WAS decided
to retain the present quarters and endeavor
to secure more room by getting control of
available adjacent property. The market is
SO dull at present that the exchange needs no
more room.
The third annual Meeting Of the Bankers
and Merchants Telegraph company was held
yesterday, and the old board Of directors was
reelected.
The report states that in eight months the
system has grown from 205 miles of poles and
1866 miles of wire to 6,697 miles of poles and
46,347 miles of wire. Inside of six mOnth
tho system will be increased to over 10,00C
miles of wire, covering every paying point
east of the Mississippi.
SATURDAYS MARKET.
The market was pivoted on Union Pacific
which opened at 7ls and gradually weakened
until it touched 69s. About o'clock sup
porting orders at 20 checked the decline ant
gave strength to the whole market. The
market closed dull and strong at about the
opening prices. Bonds were dull and low
most trading was in Union Pacific Lake
Shore, st. Paul, Western Union and the Goa
stocks.
Money closed at II to .. Sales to-day
2sS.265 shares. Total for the week 1,7ls,2 ,265
against l,475,s9l last week, and 1851, 1888 the
previous week.
Chicago dispatches say some trunk line
\ made large contracts to carry grain at II
cents per 100 in anticipation of early advance
| in rates.
1t is reported at'Gould Ia selling coal.
II Some of GOuld's friends profess to thinl
/ that his extreme bear talk is only trap.
| The bull people last night thought Their
| would be an Increased demand to-day 70
stocks in the loan room.
Receiver Green says West Shore is earning
its operating expenses and steadily increas
ing its traffic.
Comparative bank statement since 1881
April /, 1881. reserve above 25 pc
cent. limit, $2,2O5,1z5; April s, 1885,
reserve above 20 per- cent. limit, 1911 ,65(
April Z, 1883 reserve below % per CEN
limit, $3,7O1 ,oOO April 5, 1884, reserve abov
25 per cent. limit, $i,2OO,s95.
Sales of stocks to-day aggregate 30l 90
shares, including Central Pacific, 4,41S; Dela
ware, Lackawanna and Western, 81 O6O; Fri,
5000; Lake Shore, 14,03l; Northwestern
5.375; st. Paul, %, ,705; Union Pacific lO5, AZ
Western Union, 1880; Oregon Transcont
mental, 500.
BANK STATEMENT.
Loans licrehse' ''''''''.'....,...... 81, ,306, 81
specie ueclcaSe ........,....... b0i67 n
Legal tender increase. e..................... Sal O
Deposits decrease. e.,........,.............. 274O5
Circulation increase .................,.. $40
heserVe utcFehse'' $500, b
GRAIN AND PROVISIONS
The following are the opening highest loves
and closing prices ON Chicago board uf trade |
corrected by special wire reports to Cooke 4 Cc
brokers
Futures Wheat Corn. Oats. Pork Lard
1