The Washington critic., 1886-01-16

FINANCIAL AND COMMERCIAL.

President Roberts Of the Pennsylvania
Railroad Company held consultation at
his cicc In Philadelphia this morning with
the leading legal Officers Of The company,
Hon. John Scott, Wayne McNeagh and
James y. Logan, in regard to the South
Hernsy ylyania u Beech Creek Railroad de
cisions. II was agreed that the cases
should he appealed to the Supreme Court
Of the State.
The New York stock market opened
weak aud feverish this morning, aud during
the first thirty minutes there was heavy
selling Of the list under the leadership of
Pacific Mail. The selling Of the stock
named was believed TO be for the account
Of insiders After the first call the bulls
extended some support to the list and bid
prices up In the hour and half to noon !
TO per cent. from the lowest point. Since
midday there has been renewed selling of
Pacific Mail and the market is now feverish
aud unsettled Money was easy at Nae
per cent. Exchange quiet at 4S7ld 400.
Governments firm. Currency Us, l2j bid
is, coupon, 1899 bid; AIS, do; 1923 bid.
"At The opening of the stock Exchange
this moruing,h say the New York adyiccs
Of j. Vance Lewis, announcement was
made from the rostrum of the suspension
Of the firm Of Brown Il Anderton, who yes
terday made an assignment to 7. Y. Brown
The firms liabilities are said to be under
100000. Messrs Cammack & Worishoeftcr
were liberal sellers during the forenoon,
and last night were talking bearish, claim
ing that all the bulls could look for now
would be temporary recoyerics, which in
point of fluctuations would be as limited
as were the reactions during November and
December. Conservative brokers were in
clined to be bullish, on the supposition that
the largely increased short interest In the
market would cause n sharp rally, but for
the time being they believe that the bears
will follow up their advantage, particularly
If the South Penn. suit hangs on appeal
and gold shipments increase.
"1he man who pcrsistently bulls or bears
market is certain, ut some period of his
financial career to be right, but IL is rather
absurd, IN the face of the inconvcrtible facts
which have tended to depress tho market,
for any one to remain n bull or back his
opinion on the bull side. Every rally we
enjoy now is occasioned by the bears them
selves. Even those who believe that
month or two will bring about an entire
change Of sentiment and that very much
higher prices will be recorded, are not talk
ing an active part now; they are waiting to
get cheaper stock. If the trunk lines de-
termne to fight which is possible, but, in
our opinion, hardly probable, the trunk
line stocks ore going lower and probably
will touch point where they will be really
awe look foranother rally very shortly
possibly to.day-but don't think it will
amount to anything more than the last,
possibly showing gain OF / or 9 per cent.
in the active stocks. In selling on these
rallies, however, conservative operator
should hear in mind that this market can
be whipped around very quickly, while
the bull contingenti Is quiet. II Is most to be
faara1 "a Ing1ina sttph a haun hol
most OF the big bears, having taken their
profits, want to see a higher range before
they put out any fresh lines. Conse-
quently they would help an advance If
they thought IL was at hand Pacific
Mail bought on decline like this is really
good speculative purchase, for II RECEIVERS
very rapidly. Delaware, Lackawanna &
Western might go to par, but we would
rather buy 1t at 112.
A Philadelphia dispatch says: 'There Is
good authority for the statement that the
Baltimore * Ohio Railroad Company is
making large cuts in freight rates and that
the line is getting all the freight It can
handle. The Trunk Lines Executive Com
mittee will hold its regular meeting in New
York on Tuesday next. 1t is expected that
the matter of opposing the Baltimore &
Ohio's attitude will first be considered by
the presidents, who are also expected to
meet next week.
Foreign wheat Market.
LIVERPOOL, Jan. 16.--Wheat quiet de-
mand poor; holders offer freely; cargoes of
coast not much doing. Corn, steady; fair
demand; cargoes of coast, demand fair.
LONDON, Jan. lG. - Arrived - Wheat,
weaker; corn, nothing Offering. To arrive
Wheat, rather easier; corn, quiet. Weather
colder.
The Chicago Market.
CHICAGO. Jan. 1910 a. m.-Wheat
opens steady, with very light trading.
scalpcrs inclined to be little bullish, and
may succeed in advancing prices. Next
visible supply will show a decrease of about
one million bushels of wheat and million
and quarter of corn.
American stocks in London.
LONDON, Jan. 16, 1890. - Consols,
100 1-1G; dec. !: acct, 1901. dec. 1-l6;
Can. Pac., 67}; dec. }; Erie, 2is;
dec. III; Erie IDS, 79s; dec. IL; Ills. Cent,
141!; dec. Il; Mex. N, 90; adv /; st. Paul,
9i; dec. L.; NY. c., 1865; dec. II; Reading,
10l dec. Z.
LONDON, Jan. 16, 2p. m.-Cen. Pac.,
Gss; adv. b; Erie, 24l; adv, l. st. p, 9is;
adv. /; n. Y. c., 1861; adv. /; l.. s., S5s;
dec. IL; Cen. Pac., 40f; dec. IL; L. p, 53l;
dec. J; n. p. pre-, 59g; dee. Il; Penn, 53s;
dec. II; n. p, 27a,
The Foreign Wheat Market.
LIVERPOOL, Jan. l6.-Wheat quiet; de-
mand poor: free offerings.
LONDON, Jan. l6.--Wheat weaker. Corn
steady fair demand.
Petroleum.
b. X. Plain & Co., st. Cloud building,
furnish the following Oil quotations: Closed
yesterday, S7s: opened to-day, S7I high
est, S7z; lowest, S7g; 2:l5, S1a
New York stock Market.
| The following have been furnished by j.
| Vance Lewis, broker, southwest corner Eighth
| and + streets.
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