National Republican., 1884-02-25
THE MONEY MARKET.
Brief Review Of the Transactions Made During
Last Week.
A Dull Opening Saturday aud Not Much
Activity Displayed All Day.
Special DisDdtch.
REVIEW OF THE WEEK.

NEW YORK, Feb. 23.-Nery little trans
pired during the past week to affect financial
and commercial affairs outside of the further
rise in foreign exchange.
The general features of tho financial and
commercial situations may be summed up in
the facts that trade continued to be dull and
profits small, although there appears to have
been a little improvement in some of the i'm
portant branches Of industry.
Railroad traffic and earnings generally
throughout the country are on the increase
and the general status of mercantile and COR
porative credit has improved of late
The advance in sterling exchange. which
has continued now for nearly two months,
brought tho rates to higher figure this week
than at any previous time since 1882.
United States bonds have been frmer on
small transactions. In tho railroad bond
market there has been q continued firmness,
aud values have hardened, yet the transactions
have been only moderate.
1t was we'll known by both the bulls and
bears that the house of McGinnis Bros IL
Fearing was embarrassed for tho troubles were
of such character that they could not be
well concealed The bears sought to make
good use of this knowledge, but the move
ment in Union Pacific defeated their scheme.
In the cotton market business has been ex-
tremely dull during the past week.
as a rule rather quiet Wheat has been only
moderately active on speculation, and the
export trade has been comparatively insignih-
can't Corn quiet, both for export, and on
speculation, and prices have declined.
In the dry goods market the volume of
business has not realized expectations tho
past week.
SATURDAYS REVIEW
On the opening stocks were very dull, and
there were few outside orders 1t improved
toward end of first hour.
Peters, Wetmore & Schenck bought all tho
Lackanwanna offered and later on Enos ~
Co. and Hotchkiss, Burnham & Co. bought.
The sellers were Hollister j. Wallace and y.
V. White. Brokers say $. V. Whites hold
ings of Lackawanna arc for clique account
who can put the stock to almost auy figure.
The bear houses report the public buying
coal stocks, particularly Lackawanna, and tho
big bears appear to have covered most of their
short coal sales.
In Reading Atterbury and r. Martin &
Schmidt and Bacon bought.
The loauing rates are-Union Pacific, lend
ing fat others unchanged.
There is talk of the Gould southwestern
stocks being advanced before the bull cam
paign is finished.
The Chicago Tribune to-day editorially
says: 1--WE arc on the eve of tho greatest
railway war ever known in the wcst.'
Bank of Montreal, Seligman u Co., and Won
Hoffman & Co. have not shipped any gold to.
day.
1t is reported that measures will be taken
to foreclose the New York City and Northern
road.
Respecting the introduction of bill into
the Maryland legislature, appropriating
$2,000,000 for certain arrangements with the
Richmond and Danville railroad the state
ment is made by authorized officials of the
company that under no circumstances will
the present owners of the road part with its
control.
Mr. Boyd says that the plan Of proceedings
sgainst the Oregon Trauscontinental directors
is not fully determined on yet.
Vanderbilt brokers talk bullish on Jersey
Central. Gould brokers predict 30 for Texas
Pacific.
The members of st. Paul party advise the
buying of st. Paul for 81 next week.
Points from insiders in Western Union are
to buy the stock for an advance on short in
terests, and orders are said to have been given
to twist the shorts. The bears say that orders
have been given to cover If Western Union
touches III.
New York Central lends at 1-6i. The de-
mand for stocks in the loan room are very
light.
Opening wheat in New York-March 1O99;
April, 1lOB; May, 1l3b. Corn--May, 6if.
Corn opened lower; wheat unchanged.
Regarding the shipments of gold foreign
bankers say there will be II large shipment
next week.
Sales of stocks to-day aggregated 204,719
shares, including the following: Central Pa
cifc, $3.50; Delaware. Lackawanna and West
ern, 3O,22O; Lake Shore, 7,47l; Pacific Mail,
$40; Reading, $500; st. Paul, 81 300; Union
Pacific, $500
STOCKS.
Following arc opening and closing prices of
principal stocks as corrected by special wre
reports received by Batemau & Co., bankers,
II II Oh northwest,