National Republican. (Washington City (D.C.)) 1872-1888, 1884-02-11
THE MARKETS.
A Full Week Of FirmnCSs in Stocks, Bonds,
and Securities
The shorts Supposed 20 Have Been Thor.
oughly Shaken Out.
THE PAST WEEK.
Snknfnl Dlsnnlch.

NEW YORK, Feb. 9.-During the past week
rery little has occurred to add to tho histori-
cal record of financial affairs. There were
few events of public Importance, but with one
or two exceptions, they were not unexpected.
Confidence, which has Of late been so badly
disturbed by a succession of disagreeable sur
prises, has been in q measure restored. It has
had a quieting effect in all branches Of bust
ness. Although there has been no startling
change in financial and commercial affairs, q
moro healthy feeling everywhere prevails,
which goes to show how infectious the Wall
street fever Is. Too much reliance, however,
should not be placed upon the changed tone.
Any permanent revival will proceed slowly.
The reaction of sentiment observed week
ago in connection with the market for securi-
ties has been largely of q local and temporary
character, confined mainly to the New York
market for railway stocks and bonds, and
has not been altogether sustained without
break during the past week.
The New York money market is still over
supplied with loanable funds, and rates Of
interest keep OF the lowest figures.
The speculation in breadstuffs here has
caused On advance in prices of wheat in
particular so much above the foreign mar
ket that even the high rates for exchange are
no inducement to exporters to make ship
ments.
A stronger tone in the railroad bond mar
ket than that of railroad stocks is to be noted,
and the business has not been well distributed,
but prices have gone up from to per cent
Texas and Pacific land grant incomes have
advanced 8 per cent. Northern Pacific, Ore
gon Transcontinental frsts, and Wabash
general mortgages have been exceptions to
the general advance. The speculative deals
in West Shores have boon less, but the prices
have advanced.
In the railroad stock market there has
been an absence of any startling disclosures.
Tuesday, Wednesday, and Thursday prices
generally rated lower. There was an up
ward reaction on Friday which left the gen.
eral market higher than on the preceding
Friday. The prices for the coal shares went
up and were uxexceptonally strong during
the entire week. The advance in Delaware,
Lackawanna and Western was said to be on
the strength of a rumor that Vanderbilt was
trying to get control of it, with the purpose
of forming great coal combination. Central
Pacific suddenly became weak on Thursday
and closed lower than it did the week
previous. The same may be said of Oregon
Transcontinental, Louisville and Nashville,
and Pacific Mail.
In the cotton market there has boen no
speculative activity during the past week,
and prices have been variable without show
ing wide fluctuations and somewhat irregular.
In the dry goods trade there has been q
better and more hopeful feeling, and in some
departments o fairly satisfactory business
was done.
Coin at the best has been only moderately
prices have advanced in sympathy, with an
upward tendency at the west. On Friday
there was reaction in the tone of the mar
ket and prices declined fraction.
SATURDAYS REVIEW.
The market opened strong and higher.
There was a slight reaction in the second
hour. The market then advanced under the
lead Of Lake Shore, New York Central, Dela-
ware and Lackawanna, and Missouri Pacific.
There was q slight reaction at 1 o'clock.
Reading and Jersey Central did not advance,
Central, Delaware and Lackawanna, Lake
Shore, and Missouri Pacific. The borrowing
demand is slight lending fiat at per cent.
Bonds were firmer and active; West Shores
declined !. There was the usual Saturday
afternoon realizing, but the market closed
very strong.
It is said Vanderbilt and Gould favor tho
passage of a state law against selling stocks
short, aud while the legislature will probably
pass it Gov. Cleveland is doubtful in regard
to approval. If the law passes brokers will
open branch Offices in Jersey City for tho
bears.
II is thought in the stock board that there
traders and railroad managers say the trunk
line meeting was a great deal more important
than generally supposed. The west bound
New York pool has been on business from
New York to Buffalo and Pittsburg. Under
the agreement made the east bound and west
bound pools will BIO consolidated and abso-
lutely prevent rate cutting.
Wheat advanced on covering by local
shorts Z. A. Kent g. Co., with other large
houses, were bidding for large blocks.
Local shorts have apparently all covered.
Market dull. Corn and oats quiet.
Buyers of coal are disposed to make large
orders for March delivery if they obtain con
cessions.
Several thousand tons Of steel rails have
been contracted for in Philadelphia at 30.
Business in Pittsburg is increasing, and rails
are firm at $50.
CC.C. & /. has advanced from 90 to So on
buying by insiders who know of plan
whereby back dividends will be paid to
stockholders on privilege.
Sales of stocks to-day aggregated 401 05I
shares, including the following: Canada
Southern, $500; Delaware. Lackawanna and
Texas, 5000; Lake Shore. 35,645 Louisville
and Nashville, 5,400; Missouri Pacific, $500
Northwestern, 3,100; New York Central, IT,,
700; Pacific Mail, 5000; Reading, $4,000; st
Paul, $1,000; Texas Pacific, 6,150 Union Pa
cific, 23,s96; Western Union, 1880; Oregon
Transcontinental, II, 100; Chicago, Burlington
and Quincy, 5,l75.
STOCKS.
The following arc tho opening highest
lowest, and closing prices Of the principal
stocks for the day, as corrected by special wire
reports received by Bateman & Co., bankers,
No. 14ll + street northwest: