, 1880-05-07
Acceleration of the Declining
Tendency Of Stocks.
4 Raid On Eric, nntl Weakness All
Along the Line.
Governments Aotive-Foroign Exchanges
steady-The Currency Movement
Ths produte Markets 1kss lttlTe, and ltgulafl!
Easier-A Good Demand for Corn.
Provisions Quiot and Rather Wssk-Less Anx'
tsly 10 Fiji In Short Wheat.
FINANCIAL.

lely 10 tlil IN 5ncS& WHVat.
FINANCIAL.
Tho prophcsicI RAID Oh Eric was made. nna
with It tho whoo list declined sharply. Thcro
,vns bit ono nctivo stuck that made gain, anu
TINT was Louisville i Nashville, which ID u
CLIQUE stock, This downward movo In stocks
has apparently rcauhcd point whOro It IL hosl'
netting. L4onp holders aro becoming n!armcd.
and nro throwing thoir stocks over to limit tholr
losses. Marginal dealers arn selling 10 anVe
whnt little IL loft OF their deposit. Tho truth has
nt last forced itself into recognition thnt It's
not tho manipulation Ut olipucs. but tho collapse
of all tho boOrns, that Ia playing tho mlsch9et
With tho stock market Stouks, like everything
else, hnye been nm UP too fast They nsc no"
going tho othor way. and tho decline 10 ginning
momentum. AB to whethor they nro hehflhA
tho bottom, It Ia only the inexperienced whit VIII
venture to oxpregs decided hpnton, Hut old
brt,,ers pxpcct to SEQ tho bears ovcrto their
selling, and some hayo gained su!Icient conti'
dcnco 10 recommend thois customers to bcgin |
buying ut this point.
Tho lasscB wore 8ovcrc. Central Faclnp |
dropped Z, to d; Chicago. st. Louis New Or
leans AZ, to e3H; Indianapolis, Bloomington 4
Western 0, u n; Sioux City IN, u 40: Mnnhat.
tau l. 10 20; San Ftnrciseo3, to 3ls the peeforr0u
~, tn 46M, after aelltng ut 10 and 46t Northern
Pacific 4, tn 24k; tho preferred ", to Wsf. aftor
selling at 6tM md 10: Canala Southern y, to
coz: Lake Eric i Western 1. ta es; IIous-
ION Y, to 6sh; Chattanooga ". to
Guy; Western Union IL. to l0a: Iron Mountain
IN, to 47G: Union Pnct1c 2, to 84h; G., c. l. ],
C.lx, to NY, after selling ut l.9s and II; Read
Ing 1h, 10 55t: Jersey Central IN. 10 TN;
l.acknwanna ", to ,SsA; Hudson u, 70 isA'
pAcInc Null d, to %, attor selling at 10 anu Aa;
Hunsas & Tcxus IN, to B3ss, after solIlng nt W
md ;ss,s: st. Joe III, 10 0A, tho preferred ~
10 10; Ohio 4, to ssA: tho preferred *, to u;
Wullsh aA, to MA; tho preferred w. to IAN;
81. Paul u, to 75; Northwestern y: to VI 4, hfter
scliiug ut Ulss and 10l Eric oS, o0A, ntter sell-
iug ut 4lI md ~; tho profcsTcd M, to 81: Luke
siioro u, to lEi!t; Michigan Centrul ", to s4ss:
Nav Ynrk Central III, to 124h; Illinois Cefltfai
II, to Jul; c., G.. G. & !. 2 TO TN; Alton l. to
1G,; I,ock lsnnd Il, 10 lBDh.
The market closed at substantially the lpwost
prices Ut tho day, and, M IL has 80 often dono OF
latu, without the sign OF n rally.
Ono OF tho sensations of the tlay was dropof
ten poInta III uostOu, Hnrtfora 4 Erie bonus,
and tho consequent fallure uf II lnrgo holder.
Er,e second O. opened Mt olk, declined to WH,
and closed Mt 001i.
Railroad bonds, In Now York on Tuesday, were
active and Irregular, tho chief feature beins tho
largo transactions In Eric consolidated soconue,
which declined from 0tn to DIN, rose to 9IA &nd
reacted 10 DIN; do funding fell OF from bdA to
IS. Kansas & Texas tirsts, after selling down
from 10QA to 100, advanced to lGOh; do aeconu5
roso from % COX. NewYork Elovated tlrsts from
ITO to 111n, Metropolitan Elevated frsts from
10lt to 10ll; Dclawarp, LackawunhaG i Westcsh
seconds from lOlH to 10aH; Union Paoiio llrsfA
from HEX to 112.t3 Mobile h Ohio now from l0!.33a
to lQ1; and st. paul gold bonds from III to 1l3N.
Denver & No 0rando nrnts advanced from lu@A
to lGH, and rcccdc0 to lDlI. Iron
Mountain second preferred incomes fell on
from 70 to u, and recovered TO y. home'
Watertown i OgtlonBburg hrsts consolidated
sold down from 63ai to ts:ts, and recovered to G1
Now Joraey Central consolidated nssentotl do
ollucd from Jos to 1914; Chesapeake Ohio
sercs i from G0h to 0s; Union Pacific land.
Nrants from lin to Ill: Bouthorn rnciAo OF
California arsts from o7s; to q: Cairo i Fulton
nrsts from 1o7 to l0dkt and Loutalana Mis-
sousl River Arat4 from 1874 10 liz.
Chicago bankors report growing dualneaa II
tho loan Market Tho currency movement II
not acttve. Now York oxchanga sold at 76o ro
$1,000 premium. Discounts were COS per cent
Bank clcarpgs wcro e, 6oo000
A good loeal domp1d II reported Tor trst~clas
railroad bonls. Chiongo, Milwaukee Il Ut, pa1,
~ woto sold at lou, leaa commission. Cool
County 4ns werG 10sh.
Transactions were quiet In Government bonds
Tho District Of Columbia n.ass were ON bid ant
p5 asked; tho United Btntcs "a wcro l01 bid nm
l01A asked; tho ttss wero l0eH and 100: tho
1Ooss and l03; and tho " 106A anl 10Gn.
Tho foreign exchange market wns atcady an'
higher, with fair offering uf hltls. htcri!n
pnstoti rates wero $50 nnd tsAs actuhl rntas wer
466 md 4BBi and documentary sterling was 4sJA
Frenrh bankers bl'a waro 620 and NTH, Att
German hpnkers' hills 05 and phM, FrGneh oon'
mcrcIal, hAE0ae5. Commercial marks wero
G95, The exports nt domestic produce tsoi
New York for tho past woek nlnount to $8kH
867. against sd0so,T:l for tho correspon1l1'
weak III lS70. Tho following ta0lo shows the ea
ports tc1cluslyo Of spcCse> from tho port OF NJ
York for tho wook ending Mny 4, 1850, eonppre
fhn ar nj fnrt tfn Turn
r.; ss:;y.:; II: ::y;;;sa: ,ES;# & ,:a ,s%s
Since Jan. 49,. .1IEsEV,Va ,i0aai1,9is ;l1as5tv
sido stocks wcro mado: noston. Hartford
Erie, lXQ2; Denver & Rto orlando, G3;tQBs; {
do extension subscrptton Gsasa; Flint 4 Pdl
Marquette, lpQa1oh, Missouri PAoito. Mea, do /
Cawdroy aharus, Ddn4; Memphis T. Charleston,
11l; IndiunA Contrnl T. Lafayette, A01; Oh
Central Coa!, asn0so; ct. Joseph y Wcsto1
shares, e5Ge2o; do sooond mnrtgavo, 4oqaaa, so'i
Carolina shares, 11at14; do 1tst mortHHKo, 100;
second mortgage, 7l011; 10 nontmortEal
boads 4o14l; Selma, Homo Dalton. lAQls; ,
hrstnort&a8o, 1b40lB; do second mortgage,
QaA, do incomes, 1AD2; Toxus Pacific oo,,so
datod subscription, l@lN; vtcksburx 4 Mcrl
Ian, BAa0{l Jersoy southorn. lxi AtohEson
Topeka rights, Vol; 1T. Louis Il Han Francis
rights, AQl, Btandard Wator Motor, e0S@a
Aariposa, old stock, kDX.
Tho Increased earnings Of tho et. Louis =
Frunc!sco Railway Company for tho four
weck In April, 1sSo, $4,000 corresponding peri
lpat year, &S6, ,009; incroase, 9M.0ol
The gross earnings Of the Minneapolis T.
Louis hallway for tho week ending ApFsl.l wei
1sSo. s7,s41dos 1s7a. t7s5sall; decrease IN IL
HsHl0l.
Tho Now York Ersninp Iost says about stool
Tho market ls senaltiyo and tcInora!Ized. 7
business OF tho ruroads continues large q
profitable, ThGrn II no further apprGhon91
about tho money market for the next 4
inouths, there bong selewGd assurances II,
, Albany that tho cEu10 bill whtrh was dr.p
: against foreign cApItal will not becuHH y L.
The standard Investment of the eountryN;,!! y!
Ut q prizes which mikes about aN Por cent |