, 1880-07-08
A Dull Stock Market, with a Tend.
ency to Droop.
Conflicting Rumora About 0ropa-1ndispo-
nition Of the Public to Buy,
Light Country Demand for Currency
Foreign Exchange.
Tho Produce Maskols Ac.ive and Stronger
Another Phase os Tho Pork Boom.
Wheat Attained Through kcr,ousneM In Regard
10 CropProspects-An 0ld.Tlms Corner.
FINANCIAL.

FINANCIAL.
stochs wcro worry dull. Conflicting crop rc-
puris ituve checked tho disposition of tho public
to buy, II the public enn bu said To have had a,y
Hcta dtsruAItloil. Tho m0tket Is now IL whiting
unc, T'horu Ia not ns yet my sneh 1ciinit In
fortnRtton nf dntnngc rs to ,nsestla prospects,
hut tho market has I'm uutuistakablo tendency
to Iroup. rriccs wero tnwcr In almost all cnscs
yesterday. Cleveland, Columbus. Cincinnati &
JDttunnpolls advanced from GaX to COX, but
then ul rt,nlUr TINT tho dividend had hecn passed
fell o!r to Ujh. Is1s report about dividend wns
IL surprise to everybody, In the fncc Of thu lnrne
incrt,lse III earnings. II tho dividend has
bcrN pissed, II has been done. according to Bomo
cynical pcrsuns, IN order to shake otit stock.
Mr.. kpcnc Is credited With tho ownership Of
o,rol a.lnres Of It. Morris Z: Essex lost Il, to
10o!s: lislnuls Central v, TO 10jh; Lake Shore u,
10 1GIss; Erie x, 10 40s;: Eric preferred 1A, to
Ud,s: Northwest y. 10 MI: st. Paul II, to TN;
Wnhnsh X, tu 3GG; tho preferred X, to 65M:
Ohio u, 10 :seA; the preferred !t. to ~; 1T. 1oe
Il, 10 ;sl14; knnsns s. Texas 4, 10 35h; Pacific
Mill x, to ;sHi; Hudson 4, to T5A; Lackawannn
u. To sS.i uessey Central y, to oak; C., c. & !.
c. u, to 10!l; Iron Mountain v, to 10: Lake Eric
t. Western u, to ~: Nurthcrn Pacific Y. to 70;
tho preferred u, to 4sH; Manhattan Il, to 3l';;
Minneapolis IL, 10 6:. -"
luck leland tnndo Y, to lD5H, and Now Tork
CrntraI n, to 12sS.
l:re sGrnnts es opened nt Baii md closed at S8A.
Governments were quiet, with District Ut
Columbia 3.tQ's strong mt 9SA bid and 90 asked;
tho 49, lUs interest bid and l0s nBkcd the 4,is,
1u1a bid and 1l0.t nskcd; tho 6s, 1GIA hid md
lU}ai askcd; tho Us, l0 ex-lntercst bid mud 1o4'i
askcI.
Foreign exchange was dull and unchanged.
Sterling posted rites were 4S7 and 4sssf; actunt
rates weru 4Stlt4ed1i, mad sterling com morclal
4sl.4G4Slsi. For frslncB, posted ratios were 62ltt
mud bl8A for Paris. Commercial frnurs were
b.5t.GtaUA for Parls, sa71z for Antwerp and
Ilasre. Marks were WI aud 95.s for posted. E3ss
for documentary. Holland horins, 4Oh for
sight; AustrlH'l tlortns, AN; Norway, Sweden,
md Denmark, g7ts.
Chicago Datlk clearings wero $5TOO, LOO. Coun-
try orlcrs for currency wcro small. Now York
exchange WIS pAiGt.bu. per $l,00 discount
Loans werc not III rGauest ut +Gt9 per cent ON
call, aud GuS per cent OIL time. Tho rise In
Doanl of Trndo prices made tho margin husi-
nces lively Mt tho bunks.
South Sl,lc City Railway stock Is 20 bid; St.
pnt'l Is. $1,000 sold ut I'M; Lincoln Park Is at
1Us1i: ST. 1n,,i Is ut 100; and Wcst Town Is at 1Hi
Snlts on tho Chicago Mining Noartl wero 900
Btiatrs Of Sierra ut H. 25: a,1UU shares Of Chicago
& silver CHI ut S7.b0. md no shares at S7.5b1
1910; 4:N sharcs or ShonA1iioah common ut $3,;5.
@00 shares III ShcnnndDnh preferred ut $3.50.
Tho English financial public. like tho Aneri-
can. nro lust HOW disposcl TO lot stocks n!onc.
Tho London Ttracs of juno "a, notes that tho
English stock mnrlet is wcak from nbscuce Of
business. ThuEe Ia n0tlcn1inR enough other to
support pr!tes or tu send thunl;. sharply down.
They. therefore, dwind!e or stagnate. Thls ton.
lItlon OF tho mnrkot is likely tn cnntInuo now
for TIM rest uf this halh year, capec!nliy as tho
ncconml approaches. 1u United StMtcs rallw,sy
stock tho tendency wis ,nuro Irregular, tho
t,fnF trftgtNt3 HfoftfR RhHfntf
ness, and tho more speculative stocks, such as
Atlnntfc & Grcnt Western bonds md Eric shares,
showing, considerable weakness.
u Philadelphia dfBpntcE to tho AMERICAN EE-
c'anyc stys thai II Hrg., portion Ut tho North
ern pncltlc ltullruatl Co,npaay's Pend dOrcllo
Division bonds nuve boon rlucod ut about raE.
and thnt tho Company las Ill 0ifcr for the on
tire hnlaucc OF tho sunn. ltcccnt ndv1ccs report
that over ., ,U00 applications hnvo boon tlcl for
lun1s belonging to this division, and for tho
coming yeNr the aNlos were estimated Mt $780, 0o0
Tho San Frmncisco IIHli4ia Tins proposed
plan for relieving tho Government rAuts ur tho
pressure upun tLem by the Increase In tho stock
OF silver coin. IT. Is wcil known TINT tho M.
uonal banks keep constantly un hand about Is
per cent OF tho outstanding xrconbauks. Many
OF thesp banks hnyo been selected by tho Gov
csnllcnt rs dopOs!tOrs OF public moneys, Thcsc
public moneys ara In f0rnl Of Kroenbacks. It Ia
within tho power of tho Government tO eubstl-
tnts silver do!tars In tho place OF greonbacks
thus held OIL duuost, The bnnks would nntural-
~ wish to Get rid OF tho coin, nni would MY It
out Whenever thcy could. between whnt thoy
were Obliged to keep and tho pooplo woro
obliged tO use, this correspondent thinks tho
Government vaults would ilMd grcut rollof.
Very scro,a chHrgcs lsro nMdO BY tho English
pamphlet about tho Into Heading infringement.
IL IL chnrgcd thnt in 1876, when tho Company
officially reported q loutiuy debt or $sNU,0
thcro WIS actuuly II hontiuu dobt Ut 81 0s1, ,016
duo by tho flnIroad Company, md 81, l30,. 20 by
the COAa and Iron COnlpany,-in lfl SILL, 4,10t; !;
that year after year, by deceptive bookkeeping
md cooked accounts, tho 1tailroud Company waa
represented rs making profits, which wero lip
entirely to pretended transactions with ltA othor
self. tho Cnnl Company; und thAt tho tlivIdc.da
paid During tho tive yours, 187l to 1S7h, tncl.lsIve
wcFe $iS,Ul0,:Go, whcrcns tho amount actually
earned III thUsp yours wis only II, ,0N, Attcs
borrowing tlo.0c0 loo IN Janunry, 1871, which Mr..
Gowcu promised should bc used to supply \
working cMpftal Tor tho Coal Compnny, tho cn,l-
ccrn did NIT reduce ita iiuat!ng debt, antl RuB-
tu!lcd nctuni iossuY 1t Ia charged, on thu bust.
ness TT the Goa. Company 0f $l.+77Q;H In 1870, oi
fl,7A'H8 III 1877. and OF $l,M0, ,Jv0 In 1s78 Thcst
losses nlonu would UccOuut fGr tho Inoruase oI
tho tsoatlnx debt FROM *7,ll33oi. thu amount so,
ported Ay tho Investigating Gp,nullttco to cxisI
iu lssb. to tho amount now commonly reported
As exlsttng-llAuloiys about *lj,0D,0O
The Trcnsury Department has issuott state.
uacnt whiGl givcs tue volume Ut tho pnper cur:
setley. RnA its value In eolu, far every yea,
einuc 1S01. Tic Stato bunk circulation, wt,tet
was s$H, 17,stu !p lAfr Is now but s.1D,i00. Tht
National bunk circulation, which was SUI ,sgS III
In lMI. IL now sJIi ,4:i. Tho legAl-tuadcr,
hHv0 decreased from xar. gs':, ,In in 1865 to ty,g
8sl.Olu, ut which tivlrD they have now stood foJ
tbreo ycnts The amount ot silver certificate.
outstanding Is put 1T fl2.374,s70, but Of THU
amount thu Treasury holds $1,SBl,701 Thf