The Washington critic., 1886-01-14
FINANCIAL AND COMMERCIAL

The two topics Of interest in the stock
market appear to be the condition OF the
anthracite coal trade and President Gowens
future policy, the former because II affects
TO a great degree the speculative values of
the rest OF the market, and the latter be-
cause 1t is thought to have a bearing on the
former. Then, too, the revived rumors
about the completion Of the South Penn,
which WIN ultimately bring new trunk
line to the scaboaId, are consequent upon
Mr. Gowcn's succession to the presidency
of Reading aud to his possible control Of
that road The Philadelphia Press thinks
that the anthracite coal trade Is rather bet
ter than il was a week ago as far as demand
is concerned, the cold weather having in
creased the consumption of coal, and at the
same time production has been restricted
by the Hood aud storm. Prices, however,
are no higher, and IL there is any difference
there is more shading. The majority of
the companies are selling for the best they
can get. Nothing has been done towards
settling the question as TO the years
business, and II is not likely that an imme-
diate move will be made. A good deal Of
temper has been displayed, and IL Is proba
bly, wise to allow little time for the fac
tious to cool of though the trade must
suffer in the meantime. Some coal men
think the matter may remain open until
spring, but this is hardly likely Produc-
tion will 90 on for the time at least, and
contracts for the year are being made at low
rates. The statement was current ycster-
day that President Gowcn expects to sail
for Europe at an early date for the purpose
of raising money to carry out his policy.
| One purpose for which this money will be
AplIp1 "A ~ Cufl fe Ibn ppm plptipu pf ihp
South Penn Railroad. The statement
attributed to DR.. lIostetter in a dispatch from
| Pittsburg, published yesterday morning,
| that Mr.. Gowcn had made arrangements for
building the road, occasioncd much com
mcnt. One of the Pennsylvania Railroad
officials thought the supposition absurd
| that Mr. Gowen would attempt to com
| plete the South Penn. " Those OPP
| posed to its complction," he said, "hold the
| controlling interest. Even II the decision
| at Harrisburg should be adverse to that in
icrest, 1t is unlikely that anyone, even Mr..
| Gowen, could Ypise the funds necessary to
carry on the work.
The Southern Maryland Railroad, whose
connection with the Peach Bottom Railroad
at Delta is supposed to make its acquisition
| desirable to the Baltimore & Ohio, was sold
| at auction yesterday in the Philadelphia
| Exchange. About $500, 900 has been eX-
| pended on the road Franklin r. Gregory,
representing the Boston bondholdcrs, made
the first bid of $i5, 600 and gave security as
required. The railroad was knocked down
to Mr.. Gregory. A bill filed In Baltimore
alleging that any sale of the road would be
void, because OF an illegal mortgages OF
Sl,GO0000, is relied upon to set aside the
sale.
The New York stock market opened 1G1l
per cent. lower than yesterday with weak
feeling, and during the early dealings the
90 - ht,g n,,1
ing In number OF supporting orders, but
offerings came out so freely they were com
PEELED TO withdraw their support, and at
1880 prices were down 4 to II per cent.
Toward midday there was better feeling,
and on a sharp covering by the shorts
brought prices up to the best figures again.
The market is now firm, but quiet. Money
loaned at per cent, Exchange firm, but
quiet; posted rates 4S14Mi90. Governments
finn. Currency 6's, 1875 bid AS, coupons,
1881 bid: 44's, do, 112! bid
The Val Street NC,rs says to-day: "Whlle
there is nothing we would rather do than
point out that stocks are about to turn and
20 up, the action Of the market yesterday
indicated exactly the opposite. The lead
ing bulls appear to be filled up to such al
extent that they are unable to buy more Of
doubtful securities, and there is stead,
dripping from the boxes of tired-out holder:
who have become weary with hanging on
The back Offices of bear houses are tn,
abodes now of bulls who have overstait
their market, and are trying to sneak out oi
their comrades. With such a state of affair
prevalent it is not unlikely that we shal
have a big break in number of stock
that have for some time past been supported
on stilts.n
Petroleum.
b. X. Plain e Co., st. Cloud building
furnish the following Oil quotations: Closet
yesterday, S7l; opened to-day, 81; high
est, Ss; lowest, S7i 2:l5, sSl.
New York stock Market.
The following have been furnished by J
Vance Lewis, broker, southwest corner Eight