The Washington critic., 1886-01-08

FINANCIAL AND COMMERCIAL.


"There is very little doing In the fn.e p
adyces from New York this afternoon re.
ceived by j. Vance Lewis, broker, say.
"The bulls won't put II up far and the bears
can't put 1t down much The gold ship
ment scare has again petored and Brown
Hrothers reduced rates to 400 yesterday.
II Is a question, now, Of manipulation on
either side Of tic market, and the bulls have
been playing good many nice little games,
but they can never discount the bears. The
condition Of the coal trade does not i'm
prove and the coal stocks are consequently
very weak, and as they number several ac-
tive stocks among their number, this fact
does not have an exhilaratiug effect on the
rest Of the list. Western Union has weak
cned little. This is not surprising, in
view Of the general weakness in the list,
but while IT may sag Oft, II will be one OF
the first to be placed on the convalcscent
list, unless our information, usually trust.
worthy, he utterly incorrect. The cheaper
stocks have still more attraction for us.
however, than the higher priced ones, aud
~ f., !. Il. & W., Hooking Valley and T..
W. will all show good returns within the
next few weeks. The market to-day looks
tired, and may 90 lower. There is very lt.
tie effort made to support It, and as the
talk last night was bearish, the room
traders will probably follow this bent. but
we do not look for any great concession on
either side, and save for very quick turns
would prefer being out of the market alto.
gethern
The New York stock market this morn.
ing was dull, weak and featureless through
out. a steady selling in small lots, which
began at the opening and continued until
midday, drove prices down to per cent.
Since midday the market has been almost
lifeless Money loaned at % per cent. Ex-
change quiet and firm at 4s7dl9O. Govern
ments firm. Currency 6s, 125i bid; Is
coupon, 1913 bid; AS, 1l2s bid.
The annual report of the Chesapeake &
Ohio Canal, just submitted, shows de-
plorablc condition of affairs. The gross
revenues Of the canal since the opening of
navigation at the last season has barely
been sufficient to pay its current expenses.
Its revenue from all sources in the year
1850 was $3i2,6lG01 Its revenue from all
sources in the year 1885 was $l35, ,029. .06.
This shows decrease Of 1896, ,6S7, which is
no fault OF the management, but arises from
the fact that the canal In its present ar
rangement for transporting coal cannot
compete with the railroads. The stock
holders In 1881 were fully informed by spe-
cial report made that year of the impossi-
bility of the canal competing with the rail-
roads unless work was enlarged and full
facilities for traction supplied. Attention
is again called to that report. At yester-
days meeting Colonel Baughman was re-
elected president, and G.. Z. Paine was
chosen director to fill vacancy. Some of
the best friends of the canal say that the
rates can be reduced so that there can be
healthy competition With the railroads. 1t
Il. tI,,. q, a.. Il i
will ere long be thing of the past, and the
sport of Georgetown" will be but mem
ory. The commercial interests of West
Washington have sadly declined of late
years, and grass now grows on the street
that once teemed with business activity.
Local stocks were yesterday sold by Mr. G.
G.. Duncanson as follows Metropolitan
Street Railway Company, 81 shares 1Oi;
Washington Market stock, 90 shares, 1Sl:
Title Company, 15 shares, 100; Firemans
Insurance Company, 35 shares, 1915;
Riggs Insurance Company, 200 shares, Ct;
National Union Insurance Company, so
shares, 1915; Franklin Insurance Company,
30 shares, 45i.
The Wheat Market Excited.
Yesterday was one of the most exciting In
the history of the New York Produce Ex-
change. There were rumors that corner
IN May WneaJ was contemplated, ana when,
shortly after the opening, w. NJ. Deverall, a
prominent broker, bought fifty loads at
95sc, and Immediately bid that figure for
any part Of u hundred, the small dealers be-
came panic stricken, and rushed in to buy,
driving the market up to 96ac. This was
followed by a reaction to 96 cents. In all,
about 100000 bushels Of May wheat was
traded In. 1t is well known that the greater
part of this wheat was bought by n. G..
ll.A.. H., A..
be 1000, coo bushels short, and local traders
are also short considerable amount.
The Provision Market.
New York, Jan. S.-Flour dull; fine,
S2.65M3.2O; superiine, s 3.30M350. Wheat,
No. 2 red winter, January, 90a. Corn, No. 9
mixed, January, 49s Oats, No. 2 mixed,
35l January. Pork dull; family, SILL 12l.
Lard, $641, January. Molasscs steady at As
for choice. Turpentlne firm held at 3Si
Rossin dull; strained to good, $l@1.05. Sugar
firm and higher; refined cut-loaf, 73-1G6
74; granulated, 1916. Coffee steady; fair
cargoes, Si@Ss.
Petroleum.
B. X. Plain & Co., st. Cloud building,
furnish the following Oil quotations: Closed
yesterday, s92; opened to-day, S92; high
est, 500; lowest, S7s; 2:l5, S7s.
New York stock Market.
The following have been furnished by j.
Vance Lewis, broker, southwest corner Eighth
and streets
NAME. o. aAO NAME. o. $40
Il z<V,,