The Washington critic., 1886-01-04

FINANCIAL AND COMMERCIAL.


The general condition OF the stock mar
ket indicates a rise The question that now
agitates the public mind is whether the rise
is the annual January boom, or whether 1t
is the result Of the gradual revival of bust
ness throughout the country. Tho revival
has restored confidence in the minds Of the
people an1 they are more ready TO invest In
stocks than at any time during the past
three years. "Withn month";" says a
contemporary" $75, 100000 will be paid out
in interest and dividends on railroad stocks
and securities in Philadelphia aud New York.
This is an enormous sum of money aud
much of 1t will seek renvestment. The
days Of per cent. interest are gone and al
most any amount Of money is seeking an in
vestment at and a per cent. In the
scramble to get hold Of good stocks there is
no reason to doub, that the solid dividend
payers will go up. The purely speculative
stocks Will follow more or less In sympathy
with the tone Of the Market
The New York correspondent Of the
Philadelphia Press inclnos to a similar opin-
ion. In his latest dispatch he says: "Thc
temperament Of the market is unquestion-
ably bullish, but the confidence that the
advance will be held does not seem very
general and the market lacks the strong
support that IL had six weeks ago. The
traders have during the Holidays had IL to
themselves, and the little short interest has
been diminished. The eagerness with which
bonds are absorbed, however, furnishes q
very good foundation for higher prices all
around and little fears of any decided re-
action are felt The indications point to
January rise OF longer continuance than
usual, IN spite OF disposition shown to 20
slow and wait for little lower prices, which
may or may not be SEEM
A New York dispatch this afternoon
says: Money % per cent. Exchange firm
and higher at 4S6lM400 Governments
firm. Currency 6's, 1853 bid; As, coupon,
1913 bid: AVS, do, 1928 bid. The stock
market this morning opened weak and ON a
pressure to sell, induced by reports Of rate
cutting to the West, caused prices to give
way sharply. An advance in the rate of
exchange accelerated the selling, and at
noon quotations were down to 81 per
cent. Since midday there has been some
slight covering aud prices are now fraction
ally higher.
New YORK, Jan. 4.-Flour dull: un-
changed. Wheat, No. g Red Winter, Feb.
ruary, 9l5. Corn, No. 9 mixed, January,
40. Oats, No. 9 mixed, February, 35I.
Pork dull; mess, $l0a$l025. Lard S639,
January. Molasses dull and unchanged
Turpentnc dull at 3Tl Rosin unchanged
Sugar dull; refined cut loaf, 7i07s; granu-
lated, 62@6 1916.
A Chicago dispatch says There was no
feature to the early grain market Trading
was nearly entirely local and values tended
generally downward. Later In the day the
short interest took hold, and for
n time things looked better, but this
support failing, the market sagged of and
prices ranged lower. Corn steady early,
but sympathizcd with wheat later. Pork
steady, fraction lower.
OIL.
Another week closed on Saturday without
any developments In the petroleum fields
equal to the expectation Of those operators
decline in values. The conduct Of the
owners of the new ventures in the
Kane district is not such as to strengthen
the idea that they look for important
results. The preliminary report OF the
development work In the oil regions last
month, as published by the OIL City Derrick,
proves to be of bullish character. The
average daily new production was 3,449
barrels, decline of 755 barrels q day as
compared with November. The number of
wells completed was 329, falling off of So,
but the number Of dry holes found was 36
decrease of 20. There are 252 wells drill
ing and 249 rigs up and building, decrease
| of 107 and Z, respectively. Not only does
the year 1885 close with an excess of con-
sumption over production tine pipe line
runs having been 81, l63,S47 barrels and
the deliverance "a, 1917 $50 barrels), but the
foreign trade presents gratifying features to
the producer and dealer. The Increase last
| year over 1884 was 459,1S barrels; over
1888, JAG barrels. Though the exports
from this country have increased, the visi-
BILE supply abroad has been diminishing.
| All the stocks on hand, all afoat and all
loading at New York for the seven Con-
tinental ports (Antwerp, Rotterdam, Am
sterdam, Bremen, Hamburg, Stettin and
Dantzic) and London make an amount only
equivalent, at q generous estimate, to three
months consumption. The foreign visible
supply on December 10, 1885, was LOSS,
600 barrels against ,525, 164 barrels on De-
cember 10, 1884, and 2,l06,7s0 barrels in
1888, decline of 467, l64 barrels from 1884
and Of 1,04s, $50 barrels from 1888.
b. X. Plain & Co., st. Cloud building, fur
nishes the following oil quotations.: Closed
| Saturday, 01Is. Opened to-day, 0l4; highest,
Ola; lowest, 9OA; 2:l5, 00E.
New York Stock Market.
The following have been furnished by ]
Vance Lewis, broker, southwest corner Eight
| aud II 81