The Washington critic., 1886-01-06
FINANCIAL AND COMMERCIAL.

The New York stock market to. day
opened duh and irregular, but on some
buying during the first half.hour of Erie
prices advanced TO per cent. After the
first call the advance was lost In some
selling. At II O'Clock the market lapsed
into staguant state until near noon, when
on n covering In Western Union and Lacka-
wanna, prices advanced to the best OF the
morning. Money was easy at % per cent.
Exchange was stronger than for sixty days.
Rates are now quoted at 4S7l@490l.
Governments firm. Currency 6s l25B, bid;
Is, coupons, 123s, bid AIS, do, 1922, Dld.
The regular New York correspondent OF
the Philadelphia Press declares that the
commission houses say that there is little
chance Of q more satisfactory market until
there is less manipulation. There arc too
many bobtail pools at work in outside
stocks, and, for the present, the activity In
bonds Is quite out of proportion to the
actual business done In stocks. There is no
doubt that the uncertainty attaching the
movement of the coal companies affects the
market. They seem to be no nearer an
agreement that before. The Lackawanua
oNiii lhSiuNo uI'u Sti III sDllt
spite of the warm weather, which has kept
buyers of, and the fact that II exceeded its
percentage last year, and then there is the
constant menace of the Reading, which, un-
der ProsidentGowen, may change its policy,
and 20 ahead to mine all the coal II can.
No heavy contracts for the year have yet
been entered into and prices are nominaliy
~. l0m2,25 in Baltimore and Philadelphia
and S325 In New York, but the real rates
are Sc. 10 and 3d. A contract for 25 900 tons
Of coal was made in Baltimore at 81. 10 last
week. All the companies expect to increase
their tonnage this year, the Baltimore &
Ohio 100000 tons, the Norfolk IL Western
100000 tons, and the Erie, which Is carry
ing coal very low, 100000. The Pennsylva-
mia is not so sanguine, but If there is to be
any such increase in the supply, that com
pany will no doubt get It's share. 1t is difll-
cult to see how prices can be kept as high
as they were last year and the open rate is
expected TO be s. In Baltimore and Phila-
delphia and SO In New York. There is no
disposition on the part Of employers TO in
teriere with the wages Of their men.
&. p. Huntington is working on scheme
to consolidate his roads east of the Missis-
sippi River under the management of one
company similar to the Southern Pacific
Company west of the Mississippi. The
name OF the new company will be the New
port News IL Mississippi Valley Railroad
Company. The Chesapeake Ohio Il South
western and the Elizabeth, Lexington & Big
Sandy will be included. This consolidation
is made to cut down operating expenses.
Another step in the progress of the B. Il
O. to New York was taken yesterday In the
incorporation at Trenton, n. j., of the Bal
timore & New York Railroad to begin at
point on the Railway River, in Clark Town
ship, Union County, abCnt n mile north of
the Northerly line of Railway, and termi-
nate on the Easterly line of the State In
Union County at point of the boundary
line near the mouth of Morsc's Creek and
opposite the city of Elizabeth. The dis
tance between the points named is six
miles. The amount Of the capitol stock is
Sl,OO0,000, divided in 10000 shares at par
value Of 500 each.
The Provision Market.
NEW YORK, Jan. 6.-Flour dull; fine,
S2.65@ss.2O. Wheat, No. 9 red winter,
February, 912 bid. Corn, No. 2 Mixed
January, 492. Oats, No. mixed, January,
35i Pork dull; mess, SlO@$lO25 Lard
january, $6.40. Molasses nominal. Tur-
pentine firm; 3S. Rosin quiet; strained to
good, Sl.02l@l. .074. Sugar dull; refined
cut-loaf, 7l@7s; granulated, 62@6 1916.
Coffee steady;si.
Petroleum.
B. X. Plain & Co., st. Cloud building,
furnish the following ilquotations: Closed
yesterday, 90; opened to-day, 50; high
est, 50; lowest, S7i 2:l5, S72.
The Foreign Wheat Market.
LIVERPOOL, Jan. 6.-Wheat steady. de-
mand poor; supply good.
LONDON, Jan. 6.-Wheat steadier. Corn
quiet and steady.
New York stock Market.
The following have been furnished by j.
Vance Lewis, broker, southwest corner Eighth
and L streets