National Republican. (Washington City (D.C.)) 1872-1888, 1884-02-18
THE MARKETS.
A Week Of Exceptional Firmness in Stocks
and Bonds.
Vanderbilt Opens Out and Prooures Him-
self 90 he interviewed,
Spscidl DisDdich.


feature of Wall street last week was one of
its capricious fits Within the past two years,
probably, there has been no time when for
the moment tho general outlook would not
better, than at the present time, have sug-
gested speculative confidence SO far as tho
good dividend paying properties are con.
cerned, no good reason has boon given for
the large decline that has taken place in
some cases. When earnings are at tho lowest
figure, and promise to prove small for time,
the check put on business already restricted,
caused by the intensive floods, when foreign
exchange touches very near the god-ship-
ping point, and the shipment Of considerable
gold seems inevitable, just at that juncture
away goes the whole list of stocks--good, bad,
and indifferent-and some Of them to higher
values than they have seen for many a day.
Although this may DO termed capricious,
still on the street. there is more of perma-
nent air TO recovery than has appeared here
tofore.
The stagnation and plethora, which have
characterized the New York money market
for several months past has not become less
marked in the past week. Money on call on
stock collaterals has been loaned as often at
Ia per cent. as at g The same state of affairs
as regards money seems lately to have OK
tended to the western markets. And at Chi
cago, notwithstanding that there are large
amounts locked up in grain and provisions
in store, the rates for money have recently
declined to per cont for bank advances on
such commodities,
The gradual advance in the rates for ster-
ling since the beginning of the year has at
last brought them during the past week up
to tho gold exporting price. No gold has
been exported yet, nor is it likely that there
will be without further advance, as the
present figures on actual business barely
covers the cost of the export Of American
double eagles, including insurance, leaving
no profit on the transactions.
United States bonds have continued firm,
with hardly any fluctuations in prices, ex-
cept that the short date bonds have advanced
to 10l.
Railroad bonds have shown a much stronger
tone during the past week.
Prices have generally assembled for nearly
all issues while some of the speculative bonds
have advanced from to A per cent The
course Of the whole market has indicated the
investment Of capital in this class of securi-
ties with more confidence than has been APP
parent for some time. In the railroad stock
market, while it has been generally conceded
that the bull clique has had the control of the
market during the past week, prices have
made no great progress.
On Saturday there was an upward squirt,
but on Monday, Tuesday, and Wednesday the
market ruled lower. Tho features of last
week were Rock Island, in which there was
struggle for the control between tho Van
derbilt and the cable factions There is also
believed to be o struggle for tho control of
Union Pacific between the Vanderbilt and
Gould interest on the ono side, and the New
England interest on the other, Laclawauna
ia influenced by the report that Vanderbilt
desires to have voice in the management of
that road. Northern Pacific and Oregon
Transcontinental have been worked up to q
higher figure, and the advance has been &C.
companied by the rumor that Gould had So
cured control of the Northern Pacific by buy
ing Oregon Unconstitutional
In the cotton market speculation for future
delivery during last week has been slow,
and the tendency of prices has been
somewhat irregular, with tho changes
comparatively slight. Wheat has been
dull for export, and, except on single
have been advanced, but large quantities
have been unloaded both in New York and
Chicago at tho higher figures, the large, .
sales being for May delivery. Corn has gem
orally been very quiet, both of export and on
speculation, but there seems to have been
some over selling here and at the west. and
yesterday tho shorts covered pretty freely.
SATURDAY REVIEW.
The most of traders expected higher prices
dened.
The market opened strong under the lead
ership of the Union Pacific, and the bears
covered shorts sharply during the forenoon.
Considerable cash stock in Union Pacific
during the first two hours trading, and o
lively borrowing demand for stock from 1-64
to 1-32. st. Paul was also strong The days
trading pivoted on Union Pacific and it was
the usual dull Saturday afternoon business
Toward closing Union Pacific declined
undor the realization of sales. Bonds were
strong especially West Shore, which sold in
big blocks. The days trading may DO char
acterized as dull and very strong.
The bull commission houses all report in
creased outside.
Mr.. Vanderbilt, in an interview printed in
the Tribune to-day, admits no has $4,000
shares of rock Island stock. He makes some
charges rather indefinite against tho manage
ment denies that he bought any West Shore
bonds, and says Europe holds $40, 000,0 900 of
Vanderbilt stocks. He isr eported to be bor-
rowing considerable money on Harlem stock
and New York Central bonds.
A Chicago dispatch states that general
reduction in east bound freight on the trunk
lines is expected on Monday.
The Vanderbilt interview appears to have
been sent all over the country. 1t was mani
folded and furnished to tho press probably to
help the bull boom,
Sales of stocks to-day aggregated 1873, 6s5
shares, including the following: Delaware,
Lackawanna and Western, Al ,sl4; Lake Shore,
29,3lO; Louisville and Nashville, 17.7lO; Mis-
souri, Pacific, 1850; Northwestern 1900; New
York Central, 7,015; Pacific Mail, 1000; Read.
ing, 6,70O; st. Paul, $3.50; Texas Pacific,
$780, Union Pacific, 106,s00; Western Union,
5000; Oregon Unconstitutional, 20, ago
Northern Pacific preferred, 1O,745; East Ten
nessee, 5,4s5.
BANK STATEMENT.
Specie increase .,.'-...''.'..s...,,,..... $4,000
Legal tender deer east. .......'........". 63OlO0
Deposit increase, 2l4aSQ0
Reserve decrease '.'.',.''''''''''.',.'. ~ $500
Loans, increase, SS10l 100
STOCKS.
Following are opening and closing prices of
principal stocks, as corrected BY special wire
reports received by Bateman & Co., bankers,
No. l4l1 + street northwest
Opening. Closing.
Delaware and Hudson..."'"'.'".''''"', 1l2ls 1855
Western lO'a ll5
Central PACING poA JUS
New York Centrhl,',.''''''''''''.'.''I III lll9s
LRlA