National Republican. (Washington City (D.C.)) 1872-1888, 1884-01-07
THE MARKETS.
A Gloomy and Dishoar55ning FirSt-Wook Bust
ness Record
Stocks Described as BuuyHnt-Gossip
About Mem and Securities.
THE SITUATION,
Gu.n NJ IL.n.lch-

fItt.N ptrpt-lNs
NEW YonK Jan. j.-'rho now year starts
in with decidedly lower range Of values in
Wall street than prevailed at the Same time
last year, especially for non.dividond paving.
stocks, and it is argued that o further decline
it vet to come. For example, commercial a.
fairs arc not a. active; the production Of
goods in many departments is restricted, @nd
us a consequences the distribution is likely to
show some falling oI.
The sudden and unexpected appointment Of
a'receiver of the New York and Now England
railroad was the first surprising event Of tho
new year, and IL Caused'cOnsidcrHbC adverse
comment. The election of o new board Of d.
rcotors, it was supposed, Ind made il unnec-
essary for such action. IT IS said that There
will he q iull meeting Of tho board Monday,
when Mr. Clark will state the reason for bis
haste in the matter.
The publication of the statement Of tho
Oregon Transcontincntal investigating COM
mittco was another feature in railroad affairs
'last week. 1t was supposed that the report
would be full aud exhaustive, but 10 turns
out to be bold statement OF tho securities
held by the company and - short account Of
its floating liabilities In the aggregate.
ono other subject that has Interested Wall
street during tho week was the eastern and
western pool matters.
Tho new Iowa pool lines held meeting on
Wednesday, aud subsequently it was stated
that IL truce Of thirty days had been agreed
upon while negotiations with the Chicago,
Burlington, and Quincy TO cooperate with
them were pending
No special development in what might he
strictly termed failures have occurred during
the past week. Mr.. Wizards resignation from
the presidency Of the Northern Pacific and
the loss OF his private fortune cannot he called
nS allure in the mercantile sense u, the word.
Where is still as much of a plethora of uu-
employed funds as ever in the New York
money market, and the amount * being in
creased daily by the annual interest and diYi-
doud disbursements. .The exchange market
has been higher, and quotations have boon
marked up half cent. In tho United States
bond market there has been less demand, con-
seaucntly prices have fallen off.
Railroad bonds were generally lower during
the first half Of the week, but higher prices
have prevailed during the latter half West
Shores have been the most active, and huctu-
Rted considerably, having dropped TO "a twice
during the week.
Tho cotton market has boon less active, but
prices have advanced. The demand to cover
contracts caused tho improvement, aud some
buying for the advance, owing to the reduce
movement of the crop. Port receipts and the
receipts Mt the principal interior towns of the
south have been very small. There have
been small sales for cotton ON the spot, and
the small dealings have been mainly
with homo spinners, The late failures have
injured the credit of many small buyers,
which has also had some effect in combining
transactions within narrower limits.
Flour has been quiet and weak, indicating
no marked change inprice. Home consump-
ton and tho export demand has been 50
light that the bulk of the liberal receipts have
been stored.
The stock market was very shally and un-
settled all the week, as a result of tho con-
Hiptinu nn1ninng n 10
condition of tho Oregon Transcontncntal
company, the Iowa and Nebraska pool diff
ties, Delaware Lackawanna and Western
complications with tho trunk line pool &c.
A recovery OF confidence, however. mani.
Tested itself during the latter part of the
week, and the declines of the early part OF
tho week have in most cases moro than re-
covered,