National Republican. (Washington City (D.C.)) 1872-1888, 1884-01-28
THE MARKETS.
Stocks Greatly Unsettled During the Past
Week.
The Rumors About GouId-Thc Financial
situation,


NEW YORK, Jan. 26.-Attention was almost
exclusively directed toward Wall street
during the past week. The stock market has
been greatly unsettled with sharp decinesi in
special securities, and at times n panicky
feeling prevailed, threatening at moments to
involve all share property in the increasing
Generalization. This shows quite q contrast
with the state Of affairs at the close of the
previous week. The trunk lines at that tmo
had adjusted their difficulties, and IL was
thought that the western pool disagreements
would not lead to cutting of rates. Capital
was flowing freely into tho banks, railroad
earnings were on the increase, the price of
breadstuifs had fallen until an export move
ment had set in in short, tho markets for
money, securities and merchandise put on
more assuring aspect.
Rumors were alloat that important failures
were imminent, and that Mr.. Gould was in
financial straits, which was followed by
damaging assaults upon his specialtes, ac-
companied with tho statement that two of
them were to no put into tho hands of q re-
ceiver, and attacks were also made upon
other stocks which are usually without pro-
lection because not Cliqucd. IL Is said, how
ever, that Gould gave private exhibition of
his securities TO prove that he did not need |
money and that he was not borrowing any. |
It is reported that the market value of his .
stronghold was Si0000000; that he took his .
u
there showed him not less than S1l0,0lO00O, |
including Western Union, Missouri Pacific, |
Wabash stocks and bonds, Texas Pacific, Mis- |
souri,, Kansas, aud Toxas shares and mort |
cages, &c.
In the money market and financial situa-
ton there have been no special features to |
note in the last week to shake tho confidence
in mercantile and financial affairs generally.
However, tho incidents of tho previous week
have had more or less effect on the public
mind. Broadstuils exports have decreased.
Prices Of grain have declined. Several grain
failures have occurred, together with more
important ones in connection with railway
enterprises, all of which have created "a feel
ing of apprehension and expectancy. Ugly
rumors have been circulated concerning GER
tain corporations and prominent individuals,
but they are believed to be nothing more
than conjecture, although no doubt some in
dividuals have lost pretty heavily on account
of the great decline in securities in the last
month or two.
The market for sterling gradually hardened
during the last two weeks, and on Friday,
the twenty-ffth, the posted rates were adj
vanced to iS6 and A.S5l against 4.S5i and
ASS on the eighteenth. Commercial bills
have continued scarce and were quoted on
Friday at 4s34 to i.S32. United States bonds
were less firm, and both tho As and the AIS
show a fractional decline from the prices of
the previous week.
Tho market for railroad bonds was de-
pressed last week owing to the large selling
of prominent issues The decline in West
Shores and Northern Pacific firsts appeared
to be the work of the BEARS and seemed to par
take of tho nature of a raid. There
was slight reaction during tho
latter part of tho week, but confidence
has not been restored as yet, and nearly the
whole range of issues has been more or less
affected State bonds were active and in good
demand, and prices were firm.
RumDrg n prnbahln IN
ton of further unfavorable developments in
connection with the Northern Pacific and tho
Oregon stocks caused depression in the rail-
road stock maket. 1t Is believed, however,
that there is no foundation in fact whatever
for the rumors, and that they were circulated
solely for the purpose of affecting prices. No
doubt there has been q forced sale of a large
amount of stocks and bonds, which has caused
heavy declines in some Of the most active
stocks.
In the cotton market speculation in futures
has been somewhat depressed on account of
the increased movement of the crop and the
enlarged estimates Of receipts Mt the ports for
the current week. The week closed with
some Improvement, but the demand was
limited and tho market soon became stag.
nant, but closed rather steady. Cotton on the
spot has been devoid of feature SO far as the
volume of business is concerned.
Flour was more active but as a rule only
moderately so. When trade improved the
market became rather firm, but the tendency
of prices generally has been downward.
SATURDAYS REVIEW
1t was the current talk that civil suit for
the recovery of $s,0O0,0OO or 100000 will be
begun immediately against several very
prominent banking houses who induced CAPT
talsts of this city to invest heavily in the
Willard stocks, while these houses unloaded
themselves. Gross Misrepresentation is
charged, and they are to be suod for rank
Guin ha al
proceedings.
The market opened dull and weaker on the
uufavorable outlook in Northwestern rail-
road quarrels. The morning trading was
dull, with no sharp declines, except in Cep-
trail Pacific, which fell off 2l on u raid
About p. III. tho market fell off, but began
rallying at Ids on the news that North
western railway troubles were settled pr-
vately last night. Room traders were heavy
buyers, and good orders came in, resulting in
a sharp general rally. News favorable to
Northern Pacific in the afternoon caused an
advance. The morning selling was said to
be for Camniack. West Shore bonds were
weak in the morning and strong in the after
noon.
Loaning rates were sharp and the demand
large. The market closed active ut the high
est prices of the day,
Sales to-day aggregated 49l 1884 shares, IN
Guiding Delaware, Lackawanna and Western,
4l,7O0; Erie $780, Lake Shore, l2,5Q0 Lou
isville and Nashville 300; Missouri Pacific,
1900; Northwestern, 0,i00; New Jersey
Central, LOO; New York Central, 62OO;
Northern Pacific, $500; Pacific Mail 1Os3O
Reading, ii 300; s.. Paul, G1,3O0; Union Pa
cifc, $4,000 Western Union, $4,000; Oregon
Transcontinental, 4S,AOO Northern Pacific
PREFERRED $4,000; Canadian Pacific, 1900
Oregon Navigation, $500.
BANK STATEMENT.
LOANS increase. 400 400
Specie increase. 2,jiO7Ol
Legal tender increase, 132,GNO
DEPOSIT increase, ACKNOWLEDGEMENTS d,33i0u
Circulation increase ACKNOWLEDGEMENTS. 23.iOO
Reserve increase. 2l0i,jJl
STOCKS.
Tho following arc the opening, highest,
lowest, and closing prices of tho principal
stocks for the day, gs corrected by special wire
reports received by Bateman " Co., bankers,
No. lill + street northwest:
- : .