National Republican. (Washington City (D.C.)) 1872-1888, 1886-05-22
BUSINESS IN NEW YORK.
A Review OF tho Weeks Dealings In
the Stock Exchange.


New YORK, May 21.--Doran and Wright
Company in their circular review Of tho
past week to Walsh, Cropley IL Co. say:
There is very little in the market at present
to call for special consideration. The trad
ing has IN the main been confined to the
four walls of the stock exchange, and even
the larger operators have been conspicuous
by their absence. The short interest has been
mainly responsible for the little strength
which has been apparent, and, although
there is no likelihood OF any severe break,
therei every evidence of a general wasting
away or crumbling in prices outside, for pub
lie support is an unknown quantity, and the
dog.cat-dog sort of existence which brokers
are living, bodies little good for the future
OF Wall street. The death Of large opera
tors like WoerlsholIer is severely felt, es-
pecially in times like the present; neither
can the immediate future be accounted as
promising one. "Signs OF the times" which
has already predicted depression in iron
and general business, q lower average for
iron, free-trade agitation and legislation by
Congress, point to the low tariff era
from 1857 20 1861 as one of the dark
est periods ever seen by the laborng
people of America, and argue that
not only 1886, but 1887 aud 1888, espe-
cially the latter, on the ground of its being
the presidential year, will be memorable
for the general prostration and exhaustion
| of business all over the country; for failures,
and for the lowest prices yet recorded IN
| the stock market, after which, through
| 1850, 1890, and 1891 great boom will be
inaugurated, terminating In the latter
named year In a panic. Without entering
| into the pros and cons OF this prophecy,
| there can be no doubt that the elements for
boom are wanting, and that the labor
strikes, while temporarily defeated, will,
under better organization, make them
| selves felt and recognized, and before rail-
| roads can prosper, new.system, which,
under one head, will abolish rate-cuttlng
| and perfect the maintenance OF paying
tariff, must be peyised. Take two Notable
instances of the folly Of railroad wars, viz,
| the decrease in the earnings of the New
York Central and Lake Shore. 1t is true the
former has been saddled by the West Shore,
but this again only points to the folly Of
| granting the right Of way to a railroad,
where none is needed merely to allow
| needy capitalists to rob one another. 1t Is
useless to write encouraglngly Of the stock
markets future. We may have rallies and
higher prices for isolated cases like Read
ing and Jersey Central, which will be In
dividually benefited by the reorganization
and plans In contemplation, but we expect
to see lower prices for not only stocks, but
oil, The new field is good one and has al
ready produced the fifth largest well ever
known. The failure Of Craig only proves
| the power OF the Standard Oil Company.
| They can make and unmake rs they did In
this instance, neither will they allow any
rival in the field. They are buying oil now,
| but we think they merely do this to soften
the drop; and with the possibilities OF the
new territory In sight we think GO oil
may be reached.