National Republican. (Washington City (D.C.)) 1872-1888, 1884-03-24
THE MARKETS.
A Week Of Quiet in Commercial and FL
nanCial Circles
Another Squirt In Pullman and Northern
Pnoifics saturday.
THE WEEKS HISTORY.

New YORK, March 22.Very little change
has taken place in tho financial world during
the past week. Tho disturbed feeling which
pervaded financial circles two woeks ago
docs not exist at the present time, and to that
extent tho outlook has improved
The volume of business in general merCan-
tile circles throughout the country shows
considerable increase, which is usually tho
case at this season Of the year, but the condi-
ton is still unsatisfactory on account of the
exceedingly small profits. However, mercan-
tile credit stands WELL and the demand from
banks for good mercantile paper for discount
was never better than now
The bad weather has greatly diminished
the earnings of the great trunk lines Of the
west and northwest for the past two weeks.
The earnings of these lines as compared with
the corresponding period of last year are also
unfavorable owing to the present traffic con-
ditions, which are much worse than they
were q year ago. Moreover, the northwest
ern roads ut that time were carrying large
amount of freight that had been delayed in
previous months.
The export of specie has fallen off tenn
porarily at least. The shipments from New
York thus far since February 81, when the
movement began, aggregate total OF about
$10000000.
The money markets in New York and the
interior cities are still oversupplied with
loanable funds, and rates for all classes of
loans and discounts remain at low figures.
Rates for call loans on stock colaterals in
New York have continued at 1 and 2 per
cent. per annum, and time loans on good
dividend-paying stocks for any period less
than nine months are still obtainable at from
81 to 4 per cent. Nevertheless il is apparent
that the export movement of specie Is re-
ducing the reserve Of the New York banks to
APPOINT where it must soon affect their ability
to loan.
A decided improvement in tho market for
rair Io Do IN hA Ynfa1
The various issues Of the western trunk
line roads have been conspicuous in the rise,
Oregon Transcontnental leading in the ad-
vance.
Despite the current earnings of the princi-
pal western trunk lines, and tho enormous
reduction in the tariff rates on eastern bound
grain, provisions meats, &c, by tho eastern
trunk roads, the railroad stock market has
been held comparatively firm by the leading
operators embarked on the bull side
The general public is very little interested
In stocks just at the present time, and the
market has been manipulated principally by
the professional spectators and tho room
traders.
In the cotton market for future delivery
there has been an active increase at the New
York market during the past week, attended
by an important improvement in prices.
Wheat has been quiet for export but fairly
active on speculation. Prices have declined
mainly owing to the favorable weather at the
west, where the prospects seem to point to au
early spring seeding.
Corn has been only moderately active or
speculation and very quiet for export.
SATURDAYS REVIEW.
Boston advices are that the movement in
Mexican Central bonds is speculative, il
being good deal easier to buy them than t.
sell them. Conservative people would moi
take bonds for investment until they saw the
earnings of the road.
Vanderbilt is reported as saying last night
referring to reductions in trunk line rates
THE outside situation is not altogether salts
factory, but it is discounted by prevailing
prices, and do not think the market will
suffer much, if any, decline"
Jameson, Smith & Cuttings Chicago dis
patch Reported hero and believed gener
ally that Armour is buying wheat on thu
weak spots"
Lake Shore sold down by Lorillard, Spen
Ger, and other traders
No further break in the open rate of 10
cents on grain from Chicago is reported to
day, but it is reported that contracts are freel
made at 10 cents.
The market opened dull and was quiet III
to noon, except for q traders squirt in Pull
man and Pacific Mail. About noon q raic
was made on Lake Shore which depressed tn,
entire market. The most active stocks were tn
Union Pacific Lake Shore, st. Paul, Pacific
Mail, and Lackawanna. The North Pacific
were steady 1t was noticeable that the non
paying dividend stocks were stronger thai
the dividend paying ones. Bonds were strong
with West Shores leading. In the Afternoon
the market was weak on limited trading, tn
room trading being about all.
Sales OF stocks to-day aggregated 265, 10
shares, including the following: Erie, $4,000
Lake Shore, 17,465; Missouri Pacific, 6S30
New York Central, 500; Pacific Mail. 10, SOC
Reading, 10000; st. Paul, 25,720; Texas Pa
cihc $500 Union Pacific, 80 23O; Western
A iHn II