, 1880-03-07
FINANCE AND TRADE.
The Cheap Stocks Come to the
Front in Speculation.
r.. prodp,e Martets Tame, but with Littls More
Doing-They Ire Easier.
Marked Break in Wheat; and Futures
Discounted Heavily.


FINANCIAL.
orhora were few exceptions, and none of them
,,,nortant, to the buoyancy OF the stock market,
srh,cb was strong all day, with especial activity
IN the cheap Ohio stocks
c,csapcakc s. Ohio, Ohio l. Mississippi. and
Mobile l. Ohio were the leaders. Ohio & hfissis-
sim, Kept all it had gained in the days before,
and made i more, to 4a after selling at AN ana
- The preferred sold up to 831s, but towards
he close fell away under realizing sales to s04,
= decline Of IL. Chesapeake & Ohio and
Mobile s. Ohio started up together, ns il
,1nder a common impulse, and made
handsome gains Chesapeake common opened Mt
~. fuct1ated between 22H and 25shs, and
c,osed at a5A, an advance of oE. The second
nreferrcd went up from 26A to q, and the first
nreferred from 1l14 to NH, gain OF ~. Mobile
E ohio has been a fuvorit subject for points, but
sas e,eadiiy declined till now. 1t sold up from
~ tn -. and closed ut :ssh, gain Of az. These
movements In Southern stocks indicate that the
louisville s. Nashville consolidation has not ex-
hausted the possibilities Of combination in the
southern railway world. There will be interest
inc Developments in this direction. Manhattan
made an upward move of 23z, but the usual
legislative rumor to account for the rise was not
f0rthcomlne" e A1"~
active, but Villain nnffo" n'n4.,'
n. and 80, and closed with gain
NJ y. at 36ss. The Directors of the Alton
do not know that tho road is to be leased to
Them. Another sharp advance of 27s, to 81, was
made by Pacific Mail, which Is already declaring
dividends to spectators out Of the profits OF
the business OF Tue Aslnluue eota'' osan 'ian-
cisco Was dealt III Hote Itchy taan Ao1 so.Ao
time past, ana tue secona pte1eiieo "a9 up .14'
to CO. Coal stocks were ouA- n neass SLUT in-
terest Is SAID 10 oe s1'l uncose'eo Az tuea'
Hudson was solo oo"n " oizs' ~. teeos-
cred to o. Large Puren"ses u tuas toi
investment are reported. AAeha""'lna nueta-
ated between VIA anu s@.s' closing ~nete
it did the day oe1ofe, at a"ss. Mortls
l. Essex lost Il. to lush. headlng gained n
to III. The recent rise In Heading was due Alto
scther to New York purchases. which got no
gecondng in the Philadelphia market Jersey
Central gained *, to Ss7s. The favorable effect
On Iron Mountain Of the return Of the road to
the stockholders seems to have been discounted.
Il opened at 635z, tuctEated between 63A and 63,
and closed at the litter figure Western Union
sold between l12st and IL, and closed ut 1l2A, a
loss Of u. The quarrel between the Western
Cuion and the American Union is becoming
more serious matter than was ut first believed
possible. Vanderbilt went to Baltimore to bring
Garrett to his side, but failed to DO SO. daro
personal feeling between vanderbilt ana Gonld
is arising out Of the matter. II they light the
stock market will be their battlefield. and the
heaviest losses will as usual be borne by the
priyates, and not by the Generals Keene is on
Vanderbilt's side; they arc bulls. Gould and
Sage are bears. The near future of the stock
market Is likely to he very interesting. 1t was
Gould who planned and executed Black Friday.
He and his partner, Russell Sage, are said TO nave
borrowed SO, LOCO on time, and to have loaned
It out again on cali, with the expectation OF
suddenly calling 1t in again ana creating panic
Gains nor nlrcady mentioned were New aork
Central 4, to ISss; Lake Shore y, to llo7s; 81
Paul u. 10 elss; Illinois tentfa1 Is. 10 1oae1'
Union Pacific :, to 94s; T.. O., =. q l. H. 10 ~
st. Joe pre1effeo Ia, 70 10: WABASH y, " 4'7s'
me preferred ~ 70 o'A' Nortnern facllc -. ~
aa7s' sne preferred ~ 70 oo<s ano eea1f@ 1"-
enc 4, u a-31'
The losses were Nofln"estern u, 70 ~, ot"
Paul preferred II, TO lu44; LOUISVILLE q Nasn-
vile !, to lo61s; Erie Il, to 464; Iron Monntaln
Il, to s.; St. Joe y. to 3sss4z; Kansas y Iexas ~
to f5a; minneapolis ~ 70 ION; oan ffanclsco
y, to 4S; NASHVILLE y chattanooga l, 70 Los
anu 81 fau1 q olou1 Clty pfe1e1tcu ~ W ~
Enc second Is opened al 91sa ano closco III o1ss.
Railroad bonds, IN New fork on Inufsoas'
we're Irregular in the early dealings, out sapse-
quently became strong, and advanced SHARPLY
for some issues. Erie consolidated SECONDS lell
on TO VIZ, and 40 funded as 70 oo:s' ou1 tns'
an , act1va % de,nand NJ NJ at at these tho f,c1,res Chesa-
nao+n T. nh;, au.%. eor;oe u ,,oca from RSl.
pesae umo nrs eel,es s,,l - eo az % o,ns,n -
the birhest roint. lake Erie & Western issues
~'e~0" F0@~' ~
a were more acuse man 1of 500 soe -, e t,eoss %