National Republican., 1884-03-03
THE MARKETS.
The Bears Get Squeezed in Twist on Iacka'
wanna on Saturday.
IL Goes Up to 1870, But Drops to 131 at
the Close OF the Market.
Special Dispatch.

Special Dispatch.
NEW YORK, March.-There has been no
essential change in the business outlook
during the past week. Uncertainty, If not
distrust, would at the present time seem to
bo prevalent.
The tendency of the stock market has
been irregular aud generally downward this
woek.
There is a suspicion that the large reported
business in Lackawanna and Reading was
due to the execution of matched orders for
the purpose of conveying tho impression that
the demand was legitimate.
In the money market and financial situa-
tions there have been some indications Of the
beginning of spring trade" and the daily
customs collections at the New York custom
house have more than doubled since n week
ago The general status of mercantile credit
seems to show constant Improvement and
though prices are low and profits unusually
small, business is on a sounder basis than at
any previous time for two years.
The aspects of our foreign trade continue
unfavorable in the facts that exports OF do
mestic products are steadily diminishing,
while imports for the time being at least, are
rather largo
There seems to be no symptoms of change in
money markets.
Sterling exchange has been firm through.
out tho week, and the sixty day rate was
advanced q half point.
Government bonds have boon almost with
out variation in price, except that the IS now
stand at 101 bid, against 1907 week ago.
The railroad stock market has been affected
unfavorably by variety of influences, VIZ,
the beginning of exports Of gold, the agita-
tion of the silver question, the rumors oil rate
cutting at the west, apprehensions OF hostile
legislation by congress in regard TO the land
grant roads, sc. But the most telling effect
used against tho market has been the report
that leading operators like Gould and Van
derbilt had sold on Tuesday, Wednesday, and
Thursday good many of the stocks they had
accumulated during the previous month in
the endeavor to advance prices.
On Friday afternoon tho belief gained
ground that the bull party had not yet aban.
doned their project of advancing prices, and
there was sharp recovery, which, however,
still left tho active stocks from l to D per
per cent lower than a week ago. In the
cotton market speculation in futures has been
only moderately active, and prices, without
fluctuatng widely, have been variable and
unsettled.
Flour has been in better demand, and prices
have advanced.
Wheat has been very quiet for export, and
still only moderately active on speculation.
Corn is easier and very quiet, both for
export and on speculation.
The past week has developed no new
features in the dry goods trade, and the
general situation is unchanged.
1t is believed that the West Shore company
has secured tho necessary funds to tide over
present difficulties, but insiders are reticent
The bears continue to predict lower prices
and say they were able to get stocks without
difficulty, and there are no very large buying
,,,l. ~ hall n,,f
next week
1t is said that Castellanos sold 10000 Della.
ware and Lackawanna Saturday for :. V
White, yet the stock found good buyers.
Northern Pacific bears claim that this road
earnings for the fiscal year ending next june
will not exceed $3,000,0O0 net, and the fixed
charges are S6,0OO,0O0.
Boston dispatch says that the Unior
Pscifc's annual statement shows surplus
of from $3,0O0,000 to $4,000,000, and tina
there were enormous land sales near the clos'
of the year.
In Lackawanna Cross, S. " White, ant
Willard bought, and the losning rate wa
bid up by Eugene Thompson, and it is re
ported that S. V. White called in all thu
Lackawanna this morning In st. Pau
TilestOn and Cross bought. Considerable OK
citement prevails; $1,000 shares of Lacka
wanna were sold the first hour. and 3i,6OI
the second hour. A call on 900 Lackawannt
went begging laSt nlBnU uU 90 aU lOl was bOOu
to-day. The makers of the call compromised
with the holder for $1,000. Another call OF
1000 shares Mt l3l for to-day could not b.
sold for $3.50 last night. Tho bull pool il
Delaware, LaCkawanna and Western threatei
to put tho stock to 135 regular to-day.
The market conferred upon LackaYanna to
day. 1t opened at 1888, but the calls o
loaned stock made it SO scarce that the loan
ing rate rapidly advanced TO per cent. pc
day, and the cash price Of stock rose to 1877!
in the first hour. The price of the regula
advanced nearly per cent. very larg
short interest was twisted. Lake shore
Union Pacific, and st. Paul advanced quickly
and the whole market was feverish. Abou
1 O'Clock there was a lull, with slightly lowe
prices for the general list, but for the da.
prices may be quoted as strong and active
About . o'clock traders raided the grangers
After 2:l5, the delivery limit, considerabl
Lackawanna was bought in under the rul
as high as 139 cash. Some stock brough
on from Philadelphia broke the force of tn
squeeze and it rapidly dropped to 131 o
purchases under the rule. The closing wa
somewhat quiet and shade lower as the OK
element died away. Bonds strong, Wes
Shores active and touched 81
Sales of stocks to-day aggregated 4s9,s2
shares including the following: Central Pi
cifc, $500; Delaware, Lackawanna and Wes
ern, l45,020; Erie, 1850 Lake Shore AZ 4Ot
Missouri Pacific, 6,100; Northwestern, Ii, ,l0I
New York Central, 4,500; Reading, 10, 800; S
Paul, $4,000; Texas Pacific, 4,6O0; Union p,
ciic, rs, 800; Western Union, $500; Delaware
Lackawanna and Western, cash, 30,650; d.
under the rule, 5000; Oregon Transcontiner
tai, 500; Northern Pacific preferred 1890.
BANK STATEMENT.
Loans decre0se...... ...,,......,,.....,. SS59
Specie decrease. .,......'...,.,.,..,,..... 1OlS,0
Legal tender deCl ease.................... 1900
Deposit decrease. NEUTRALITY-SUSPICIOUS.. l,62s5
ClrcnlatlOn Increase .....,...,.,......... ll,9
Reserve decrease OBSERVATION-DISCLOSURES. LOCI 3
STOCKS.
Following are opening and closing prices {
principal stocks, as corrected by special wr
reports received by Bateman & Co., bankers
No. 1ll1 + street northwest
ODenin0 Cgosbl
Delaware and Hudson."....,,.....,...., ..,.,. 1Oa
western lnlnh,"''''''''' ''''''"'''''''''''''" 20 a.
central PArlnc bOI Bl
New NOlk llbl Ilt
sO9B "a
Michigan tehtrul W ~
Lake LULA ~.
Louisville and NushYlll le-.,,.r..",.,"..,. AIS -
Chicago and Northwestern "..,.",.,..",.. III III
mi upi flo