National Republican., 1886-12-18
THE MARKETS.

oitemont of the Past Week in Wall
Street.
New York, Dec. 1.-THE stock market
has been irregular and feverish throughout
most Of the day, but was generally weak in
the forenoon and stronger thereafter. There
was heavy selling by London in the early
morning Of the grangers, Vanderbilt, Read.
ing, and Erie. This was supposed TO be In
consequence Of the advance OF the Bank of
England rate and some fear that It might
go higher.
The money market worked considerably
easier to-day, rate falling TO Q per cent. at
the close. The increased engagements Of
gold from the other side gave the bulls here
renewed courage and they bought stocks In
a spasmodic manner whenever the selling
pressure was removed, which gave the
market Its feverish aspect.
In the afternoon a much better feeling
was apparent, and toward the last hour the
upward movement assumed larger proper
tions, the best figures being generally
reached toward the close. Reading was the
great favorite, its transactions being about
one.quarter Of the total business done, and
II was conspicuously weak until toward
noon. There were many rumors afloat, but
the story Of opposition to the plan OF GER
tain security holders OF the road seemed to
have most effect. There was considerable
liquidation throughout the list, but II was
generally neutralized by the good buying OF
the afternoon. Some encouragement was
derived from the discussion OF the New
York Central statement and further re-
duction In sterling exchange rates. The
latter, however, are unsettled.
A period OF dullness and steadiness gave
way In the last hour TO a renewal OF the
upward movement, and the market closed
generally firm, at prices which In most
casesI are but slightly under the highest OF
the day. The total sales for the day were
516,457. The net result of the days busl-
ness is that prices In a majority of cases are
small fractions lower as compared with last
evening.
The following statement has been issued by
X. e. Dun Co.: The past has been week OF
unusual excitement. The sharp decline In
cent unhealthy advance In securities that do
not secure, and in some Of these the fail was
nom so TO s57 per share. But fifteen other
stocks lost $40 each per share, and the average
price of active stocks, good and bad fell $3.50
per share from Dec. 4 to the lowest point on
Wednesday last. "Knocking the froth OIL the
Market" one broker called II. In that case
has since occurred, but It Is yet too soon 70 dc.
termine whether bottom has been reached. II
is surprising and creditable that thus far only
such fall.
Money was artiAclally locked up beyond
doubt, and the decline thus increased. The
l0per cent. as the lowest, and 1856 per cent. as
the highest on wednesday. This difficulty has
been net by shipments from many interior
Se ARRIVAL of c on ThnSSSy ioS SS
France and the shipment of s2,0OOOOO,
from London, and by the treasury,s
2s ss advance n 7eP%g PP%e By sG ne Ssnt d PfS ES
land is meant to check the outflow Of gold,
but the supply now In sight here and the
shrinkage In speculative demands should pre-.
vent any stringeney in money for commercial
or industrial needs If Europe does not unload
stocks.
SO far the Wall street excitement has had no
effect on general business. Other speculative
markets were neglected and the sales were far
below previous records, Oil and grain dropped
Wednesday, but recovered. Coffee broke at
Havre ana has not recovered. Cotton yielded
a shade. but hog products advanced.
Exchanges outside New York still show that
the volume Of business at the north is very
large, though some depression exists in parts
OF the south, Railroads have agreed to ad.
vance eastbound rates cents on Dec. 20, aud
have large earnings already:
But while Wall street acrobatics do not yet
affect general business, continued depression
might check railroad building, iron making,
and other industries. Return of the large body
Of American stocks held abroad would cause
heavy loss of gold and severe pressure. The
weother.wise will watch for signs In these
quarters. Thus far Europe sends gold and buys
stocks.
The interstate commerce bill Is thought
dangerous by many investors, and Its progress
may cause unloading of securities The issue
of silver certificates increases, So 900 900 more
having been put out last week, while the
treasury took in 81, 100000 more gold. Risks in
stocks by individuals all over the country are
| likely to increase the number of commercial
failures, already unusually large for the sea.
| son. The situation therefore, while not now
| disturbing, justifies caution.
| The business failures occurring throughout
| the country during the last seven days as re-
| ported to-day, Friday. by telegraph, number
for the United States 260, and for Canada 2S, or
| q total of 2S5 failures, rs compared with 27i
| last week, and 242 the week previous TO the
| last. The casualties In tho middle, western.
southern. and Pacific states are above the aver
| age In number, which Is also the case in Can
| ada. In New York city fifteen failures are re-
| ported, only two of which are OF consequence.
Money on call has been stronger, ranging
| from to 3b.and interest, last loan at 8,
and closing al offered fiat. Sterling ex.
change Is dull and unsettled. Actual busi-
ness at 479t to 479i for 0.day bills, and ass
to 1884 for demand. Posted rates 4S0 to 4Si.
| Government bonds have been dull but firm
| State bonds have been dull and firm.
Treasury balances - Coin, Sl26, ,S17, ,732
currency, $40, ,765,933.
Grain and Provisions.
| Following Is the range Of prices in the Uhicag
market, furnished by b. X. Plain Co., st. CLOUD
n,NII -olnY A.. a Il Mt