, 1880-12-19
BUSINESS.
stocks Excited and Higher, with
New Favorits in the Lead.
Vanderbilt Stocks Not So Active
Northwest Declines.
Foreign Exchange Weaker-Large Lo-
cal Business in Securities.
The Prp4Ne Markets letiTe and Unsettled-Rre2d.
stuhs Teri Ktak-Rheat Heasy.
FINANCIAL.

Most Of the large rises were made bv otfer
stocks than those which were most prominent in
the preceding days Rock Island New York
Central, Burlington T. Quincy, Michigan Central,
Lake Shore. and Erie did little more than hold
their own. while Northwestern nnd St. Paul de-
clined slightly. New favorits carried of the
largest prizes. Canada Southern made the best
gain, advancing ~, to 7p5:. Alton reached the
unexpected figure OF 1851. closing at l551s. d
gain OF ~. Illinois Central rose in two trausac-
tons from 1s39s to l27, and closed Mt l26H with
a net gain OF 3A. Cleveland, Columbus, Gin
ctnnat Indianapolis went up 1h, to 90
St Joe whs conspicuous in the upward
movement, and the common rose II, to
49S. and the preferred touched par and
closed al that figure, a gain Of II. Kansas T.
Texas sold as high as 4T5x, closing at 48L, a net
advance OF III. Jersey Central. in which there
Is said to be new pool, made *, to 6lz;. Louis
vile & Nashville went up easily SIS. to S. Other
notable gains were C., C. & l. c. II, to 2lA Iron
Mountain ~. to ssh. The other advances we're
fractional
Wabash added x. to s5X, to Its rise Of the day
before
The Vanderbilt stocks as q rule, chasing
Northwestern as one OF them, shared but little
in the excitement OF the day. Northwestern
common lost II, to l294: Union Pacific declined
u, to l075i, after selling at JOSH. Other losses
wore ST. Paul y, to u44; Ontario & Western II,
to 31A; Lake Erie Western =, to 3s4: North
ern Pacific preferred =, to 64E; San Francisco
u. to 45n; the preferred i, to 63; Chattanooga
l, toT.
Free selling Of stocks was reported, particu-
larry toward the close A comparison Of the
highest prices with those at the close will show
that there must have been considerable realiz-
ting. Advices we're received from more than
one source in New York couuseling against the
purchase OF stocks. alt was not" the general
purport Of these dispatches ran, "a good day
for buying stocks" Rea1izatious are always
feature Of rising market Taking into con-
sideration the large rise the market has had, and
the tndiposidou OF many operators to carry
stocks over Sunday, the reaction at Saturdays
close does not Seem excessive.
Such straws as the rapidly rising prices OF rail-
road bonds. and the almost instantaneous ab-
sorpdon OF the per cent bonds offered by the
City OF Chicago, point unmstakably to an uu-
prccedented demand after Jan. l tor good in
veetmeutS-
Western Union WAS not 80 active as tho day
before, the shorts having most of them covered
The opening price, ee,ii, was tho highest Of the
day; the lowest was T94. and the close, 60A,
showed a net loss Of II. Buyers appear in
large numbers at every drop below 80 Ameri-
can Union made IN to a.
Everybody has been taken by Sui prise by the
movement In Alton, mono more SO than the IN
siders- 4 possible cause suggested for the rise
is that the purchases are being made By Gould,
who wishes 1t on account OF its terminal facli-
ties at St Louis. He has repeatedly attempted
to bay the control from the largo stockholders,
but they have refused to sell.
The advance in Illinois Central ia nothing more
than has been expected There is but little
speculative interest In this stock, which Is re-
garded as slow but sure. but 1t Is one Of the IA
vortts among the non-watered sure dividend
paying stocks.
Points were aiven AWAY that a movement in
Erie WIS to be looked for this week.
Delaware Hudson, which advanced y, to 92
shows for the first time in ten years a surplus
instead of deficiency in the operation OF its
leased roads-
The following shows the fluctuations OF the
active stocks;