, 1880-02-22
FINANCE AND TRADE.
Stocks Open Irregular, but Close
Strong.
FayurabIe Statement from the Ne"
York Banks-ScarcitJ Of q
Currency.
The Produce Markets Active and Stronger,
but Provisions Close Easy.
FINANCIAL.

but Provisions Close Easy.
FINANCIAL.
Stocks opened irregular and with some eymp-
toms Of weakness Western Union soio GOWN
fr,,n 1l5x to 1124, C., c., Z. i L to 793f, Erie to
474, Michigan Central to 9la, Iron Mountain to
q. Ohio & Mississippi to IS, St Joe to III, Kan
sas & Texas to IN, and Lackawanna to s63S-
After the middle of the day q decidedly better
feeling showed itself, and prices ran up. Vest
ern Union and the coal stocks made the best
record. Transactions we're large, and the tenn
per of the public seemed to be one Of great con-
fdence IN the wisdom Of buying. As prices rise
there Is IN increasing amount Of realizing, but
buyers are found without difficulty to
take the p1aees of those who step
out. New York brokers continue to
view the market conscryative1y, and to advise
caution, hut, Notwithstanding this, the public
ere becoming freer buyer6- The most danger
ous feature Of the market is that the largest
holders Of stocks are the greatest spectators.
They WELD an enormous power. Vanderbilt,
Gould, and the lesser magnates are a1l great
speculators, and the public could not resist any
determined effort these worthless might make to
break the market Il they want to knock prices
down or 10 points, down they will go, whatever
may be the prosperity Of the country These
mcu can at any time order a railroad war which
would PROSTATE the stock market
There ware no notable advances outside OF
Western Union and the coa1 stocks Nearly ali
the rest Of the list exhibited losses in comparison
with the closing prices Of tho day before Ne"
York Central lost e, to la.h: Michigan Central
Il, to n4: Lake Shore IL, to Ie6A; Northwest
y, to 9sx; the preferred u, to 1904; St Paul II,
to sor; Rock Island 4. to 15e;; Louisville NASH
vile 2 to 142; Union Paciftc 4, to e.; Erie y, TO
Is; the preferred y. to - =; Ohio s. Mississippi
4, to 35x; Iron Mountain X, to 63; ST Joe pre-
ferred Il, to .35s; Jersey Central =, to 841;
Canada Southern !, to 6.h; Kansas & Texas u.
to 454: Wabash =. to 44ss; the preferred X. to
69X; Atlantic j. Pacific II. to 51H; Reading
y. TO csz; San Francisco preferred Il, to SIN;
Northern Pacific u, to 34s; the preferred Il, to
5sx; Pacific Mail s., to 43h, Ohio Mississippi
preferred ], to 70: Sioux CITY preferred Il, to
s1k: Mobile Ohio u, to s41f; Chesapeake
Ohio =, to sse,1i Central Arizona Il, to l0h; and
Manhattan 2, to 414.
Western Union made II, to 114x; Delaware
Hudson eS, to 70; Lackawanns. Il, to IS; H.
linois Central u, to 1044; Burlington Il, to
.l4ox: C, C., C. s. X, to SIX: Minneapolis Il,
to 5a; Lake Erie e. Western y, to S3H; Chicago,
St. Louis New Orleans Ii. to 43zs.
Chicago, Clinton, Dubuque & Minnesota was
sold at 66, and closed at ISL; Flint, Pere and
Marquette was a95Ts. and St Joe & Council Bluffs
70 bid Flint i Pere Marquette consolidated Is
were S.
Erie second Is opened at a34 and closed at
Ssh.
Rai1road bonds, in New Tork on Thursday,
were active, especially for the Erie and Chesa-
penke s Ohio issues The former sold at 1eiA@
1T for consolidated gold IS, g1G937s for con-
soliIated seconds, and at Ss3-@914 for funded
81. Chesapeake Ohio issues we're bloyant, ris-
ing from G9T to TN for fIsts series B. and from
A to 48 for currency Is, with final sales at 7Dh
for the former, and at As for the latter. The C.,
C. g. !. C.. bonds were in good demand,
and advanced to eo4gsl for frsts, i'm
comes selling at 43g44. Kansas g. Texas
nrsts sold up to lg511, and SECONDS
,o6sx. Onion Pacific collateral trust Is adj
vanced from 1u3 to loi1z; Walsh frsts, St Louis
Division, from l05H to los; do seconds from 194A
70 los; Kansas City T. Northern, Omaha Division,
from 1o94 to ll01l; Oregon flrsts from g3 to 81;
st. Louis g. San Francisco class i from BIZ to
96l<. Boston, Hartford s. Erie drsts advanced to
5.I, and reacted to 56!5. Texas Pacific incomes
declined from s51z to IN, and recovered to IS.
Iron Mountain preferred incomes were lower in
the carly dealings, frsts declining to 92K, and
seconds to 8es<; the formed closed at 81, and the
Inter at S34.
Government bonds we're not SO strong. Dis
hicr Of Columbia 3.65s were 96h bid, and 9S
asked The As opened in New York with sales at
1nsE bid, and 1D6si asked In Chicago they were
1o64 bid. and 10oX asked. The 4.zs here were
10s1 and 100; the IS, 1n3s and 1035s, and the Is,
D5A and lo54.
Foreign exchange was steady, with no Inn
portant variation in rates. Sterling posted rites
were 4641}s and 4s7. New York actual rates were
483%@4S4 and 4S6A@4s6H. In Chicago actual
rates were 4s3A and 4564. Sterling commercial
bills were 4s14- Paris bills, 6234G5@35i. Ger
man commercial bills were 81.
4 scarcity Of currency has suddenly shown
itself at Chicago and New York Considerable
difficulty Tns had yesterday in obtaining cur
rcncy from New York, and some applications
were refused. This has grown to be big coun-
try, and 1t takes good deal OF money to go
around. 4 constant drain Of notes is going
into the interior all the time, the new
road extensions taking great deal. Very little
is coming back. a notable increase In National
bank circulation, or extension OF the use Of
silver and gold certificates, would seem to be the
natural results OF this slate OF things. New
York exchange was sold between banks at 50
cents per 81 900 discount Loans were in mod
crate demand at eos per cent at the banks, and
697 per cent on the street.
The clcarings Of the Chicago banks for the
week are reported as follows by Manager D. 4
Hale, Of the Chicago Clearing House:
Ddte, C1eartnp1. BdIdnces
Monday. !
7nesda3 Eo4a3 4a5a.9
Mednee0ay AS5l-1U jaai45
as-1N9 Esr9l3
flfdAy Aaaa9 1N!3s
3tu.5tN 1Q+tSJ
Total. n1@gg
CorTesDUuduH week l1,LD62 I&S3.3lG