, 1880-12-01
BUSINESS.
Money In Wall Street at the Rate Of
81 Per Cent Per Annuu.
Stocks Corrcsponlsngly Wcnk, and Gould
md Sago Still nj Work.
Foreign Exchange Almost at Panic Prices
ATho Currency Movement.
The Produce Markets Aeliss and Slronstr-ssw York
Operators Again EuIing Fre,l5.
A Decided Advance in Provisions, Wheat,
Corn, and Oats.


49,
Money wns lnaning IN Wall street Mt n3 70 ri
per cent per antiunl 10 ctlslInl borrowers. hihsl
ct tho large ucu,cra nnd operators long sitlee
mndc tl,up cuntrurts for whnt l,iUney they cx-
pcctcd tn llse thIs fH,l. ntu are not Affected NY
this Hurry. No Chicago brokers hAtu. hs fur ns
ktit'wl'. cirHel tlloir customers my extra rates
for carrying stotks. Tho strinRenty Ill r,ttos*
hwnvur. Mns II serious effect on PRICES, n'ltl tho
cnlss from brokers' for "snoro snArKin compel
good many wcak SPECTATORS to ac! A.'rtces
from Now York state that Could n'iti
Sn4e nrc believed mot tn iHvo done nIl
tAoy nre ahlo u tla. atld mean 10 10.
In tho wny OF depressing stocks through
manipulation Of tho H,nncy market. Nnmhers
OF spccufatbrs hhyc been sustaining themselves
In this Trying tlino BY tho belief thnt tho strife
Rrncy or lunns wuR nrtiAclal. Hut, though nrtl-
tlcluily nssistcd. thc.u Is beyond question
Legitimate tightening In thu discount market.
Foreign exchlt,1eo sold yesterday ut prizes which
It reaches Dnty In tlmcs bf severe tnnnctMry
pressure. Tho Chtcagn hunks hnve cAllcd tn
their chenr tlcll.ui,l ls,ans n.ld rnized the price
Tor money on call To per ccnt. The re.
bound III all business md Industries. held
tlpwu by political suspense, Is Of It.
scsf enough to fnnku Il perccptiblo dif-
ference IN tho demand for discounts. Without
doubt tho titso hns arrived when Fpcctlatlou
will hnvc tn spare 10 rcHNiar business 4 lutgo
part Of tho fllds II has had tho be,lett of dur
ing tho past easy mnnths. Frospccts now hre
TINT money will continue to work close Till the
New Year.
With rcgacl to the London money market, tho
J4tttA nf Nov. Is says that discount rates con-
tn,lc lrnl md Z per cent Is now a1out tho lowcst
quotation for throe months hank bills. Money
lont Mt cnt, on tho other hand. rGu,nins compnrn-
lively cllsy, nnl the rules demanded Tor 1t are
lrrrg,,lnr. This inhy he takpn .s MI nftlonnl
Indication Of tho prevalent expectation that
In ts0ff,
ienlers preler to Keep 1her bM,ns,ces within
runcli for tic present, 80 ns to he rca!y tn tnko
advantage OF tho better rutes wlicn they cnirc.
Next week tho stock Exchange settlement
Will rrobMoly cause sosnc prs
sire for short loans, and In that
caso "call money will, for few flhys se lelAs,
rule ,1cnrer. There fnir discount tle1nnnu
to-tauy, as bills arc being rnther rcs1ed torwar"
for discount while tho rates are Sill low. 1t Is
quito possible thnt the effect OF tho present nE,-
prchcnsous muy thus bo to check. II not u
prevent, my 1nntoriai advance III tho value OF
loanablo cupltai beyond whnt Is almost tnuvit-
able ut this seas0n Of tho year.
THE H0rtd snys tho futuro Of tho monetary
situation Is frMught with unilsllnl Interest bc-
cnnso OF tue present condition 1t tho banks, the
stcatiy cfll.lx VI currency to tho West and SOUTH
| md tho fnct TINT both institutions ind private
capitalists ure disposed to exercise IL close Ifs-
cr!mnatlon In grunting accommodating to bor-
| rowers OIL accn&lnt nt tho tnt1nted coutllhon III
htIa(rs oil tho Stock Exchange. II WAS generally
thought thnt tho bRnks last week, rs matter IF
prudence, would contrnet their loHna heavily,
und III this respect Saturdays statencMt wns n
great disappointment. Tho banks aro now
| below tho ri per cent lcgni rcsuryG, whereas at
this tino lRst year they hold surplus Of ef,-
,,stt25.
llI9h-rrtcctl stocks suffered moro than tho
| ctIcap ones Urokers were afraid Of unrry!HE
0igtf tf1a tnr1tR WN1t1,t
lend anything ncar tho mnrket. but little tA0rc
tllnn pnr, II waa sAli, cul1.d bp barrwGd Oh 1nr-
lln9ton. and yet that Stock advanced. makfnA
| VI. to 1Tl!:. All tho other Investments went nf
except Northwest common, which gntnetl 4, II
1.1,l Rock Isanl lust H. 10 i2!sl: Alton IL, tt
| 1319s; Norris s. Essex !, III ll9; 1lmos Centrn
| TO ll3tt: New York Central ri. to 4lh
Michigan Central II, to 1l1I; Eric prutcrru'
14, 10 Til: Northwestern preferred ~, II
14.{ 81. Paul III, to 10aH; tho pretcrred W, Il
lel!s; Union racltto IL. to 083s; Rnl Western
Union w, toto.
Thore were a1so heavy losses In tho love
grndca OF stocks. Denver s. lilo GraAt!o wch
oif .!f. to 1hii; Mobile t. Ohio III, IL e; Omah
! proforrctl l. to si Sun Francisco preferred ~
to to: Northern facltc. preferred N, to ri
Cnnada Southern III, TO GU; LUuiavillH j. Nasll
Wills. !. tO u; Jersey Central s3s. to 1Da: Lack,
wnnnn III, TO G.!s; st. Joe Vi, to III; Erie 4
to 45: nm, Cleveland, Columbus, Cincinnati
indianapolis .a4. toBo.
Tho history OF tho dag Is covered by tho recor
of tho money market atlA tho fluctuations GIVE
below. Ordinary cltqulnv anl nhanlpilYuo
como to pause In such orlses Of tho market Il
tuIs.
On tho whole. careful inquiry among tho ch
7 cago brokers shows TINT the Nestert, pablo
. buying Inoru stockB than It Is selling. Tho Il
4 vur ttes at buyers hero yesterday wuro Nurtl
/; weAtern anA Western Union. Very lnrgo urnolin
= = Of tho hitter stock hara hecn bought Ia this eli
/ | during tho past TWO day8.
i Tho following shows tho iuotuatl tlons Of II
I active stucks:
: Sttek.. IDntM- iiqh.I Lotv- Ito
'" fnt. ttf. al. | inp