New-York tribune., 1885-02-02

The local money market remained unchanged, and
rates for call loans continued o rule at rates that hardly
pay the handling of the colateral q and Z cent
were the extreme rates for the week and closed at per
money daily be borrowed at the Stock, Exchange
the best business paper not in active demand at 49o
per cent -, a,
The foreign exchanges opened weak with decline of
cent for sterng but renewed small demand restored
day. ON Thursday reduction BY the Bank OF England,
for its minimum rate, OF i,on discount tnr tho LS
decline of Il cent for sight sterling thus narrowing
the difference between long and short 6 to go cents s t.
The market closed firm on the basis OF 81 s32 ana - 81
respectively for long and short sterling.
The stock Exchasge markets developed no general
features that different from those OF several pre-
ceding weeks Manipulation and studies how to create
short interest and then how to drive IT out was all
there to the speculation Whatever there was OF an
investment demand accrng from the January payments
vi interest and dividends seems to have eliminated
In the earlier weeks OF the month. G9vernnent Danas
were dun with small fluctuations and closed with nnsl
change only of decline Of e cent In the bids for the
bonds the feature Of which however, was the advance
to 2O@2l for the various railroad issues OF ARKANSAS IS
The market for railroad bonds was nm
usually quiet the speculative kinds were some
what irregular and the Investments. with botn %
small demands aud small offerings were steady Erie
second consos ruled weak the West shore 5s were com
paratiyely steady Richmond and Acchany nrst' were
n better demand at per cent advance and tho Hous-
and Texas Central issues, after further Declines
almost entirely controlled by Influences ere. RE
ated withR the immediate vicinity or the
Exchange. The dealings for the week amounted tea
to IOo,Oi9 shares against 1350,ls0 shares for the
|
fackawanna and Western j92 s33 ST. Paul 22740 and
Northwestern lO5.5O5 81 ares-cOniributed 92l,ooO
share. 10 the weeks total business Excepting IN the
coal stocks Central Pacific anu MImnaIah nna,,nah
Consolidated, the fluctuations were c9nilhed
within a limit OF about per cent Delaware, lacka-
and Western was the key 70 the speculative si
alton. comparatively large short interest was ue,
yeopcd and II seems that new, or the remnants oi
old pool had been the principal purchasers si the
stock from about 81 a92 down to below 80 Inc action
of the coal companies last Msnday was taken ADVANTAGE
OF to frighen the shorts into covering. ana
from sS4 the price advanced TO SIS, oys az a,
the Pennsy yvans Coal Coiapnny late on thursday aer
noon issuing advance schedule OF prices tuInsheI
a very good market for the stock AT ABOUT w on fIay
morning and sold az 9Olt after that II declined TO
S7ls aud closed at ss2 Delaware and Hudson synpa
thized ia the movement by an a2'anGe M ot
of = per cent. Central. OF New-Jersey. and
Reading but little affected, although the move We
ments undoubtedly not without influence upon the
general market. 81. Paul developed special weahncss
utmost advance was only per cent ana us hnal
what surprised to dnd that sales which at the time ~
believed wero made Tor the " snort "eo1nr ~,
we're actually those OF hons long STOCK .one nos
Indication that persons near the powers that De are aso
continuous sellers OF the stock These gave
rise the discussion OF the probabilities OF arrIuctQ
or passing of the April dividend which should be PAID
for the six months ending December ~ Iast IneLe u
were sales OF similar character of North
western stock but to smaller extent its na price f
ter AN advance OF l's per cent showed gam
OF l., pcr cent Union Pacific from the favorable view
just the debt due to the Government SOD up 70 90 tna
closed at i9s- gain OF % per cent western mon
comparatively steady within range pn - & "
cent and shows hnal gain or . per cent Inc StocNs
of the Northern Pacific system were "eah
al the way OUT ,'oHS oregon COL N''To' to' 5es
and closed at g. The trunk lines ruled irmer with com
paratiyely small transactions. We remode cur usu"I
n i'm The la.t column while the final pr ices for January
~ are found i'll the first column, AS follows:
WEEKLY RANGE.