, 1880-12-14
BUSIN ESS.
Money Grows Tight, and Stocks
Weaken q TrifIe.
Good Foreign Demand for Aneri-
can Securities.
Chicago Taking No Money from New
York-Foreign Exchange,
Tho Produta Markets irregu'ar-rrorisloas Easy,
With Less Duing-logs Lower.
Wheat Unsclilcd- Very Slrong-corn
Steady-Rye Firm.
FINANCIAL.

FINANCIAL.
Stocks opened dull. hut soon showed strong
''ndcrt"nc. 'and continued actlvo NIL day. a
new disposition tD l,uy IA mixing ftsef felt In
tho marknt. NotEccnhle anlonE the iluct,la-
lions was II drop In burlington t. Quincy to l73h.
from ftlts, recovering ~ ia. The unnol,fice-
nle1lt Ut tho nircciDra nr tho issltU nf il,000
stlnrcs Of ncw stock at par, coupled With tho
rufcrutlcu to tho stGektloldrrs meeting OF urc.
Is Of tho scrtp.hlvhloHd question. Is vnrIotlsy
Interpreted. some believing TINT tho stock priv
iieXo Ia lit lion OF scrip, others TINT
thu scrip dividend also will bo made. H.
lLnoIa Central was not quoted, INIT there
wns n suio In New York at la11i. New
York Ccntrnl rose to li5.i declined to 1alis, md
Rol1 tlilAlly ut ltAA. Luke Shore was the subject
Ut vartns fayt'r.bfc rumors; Its dividend Of l
por ccnt will ho "nfI " to-tnurrow. and tho road
already has surplus Ut s1.Ho,oW nbovo tho
n1nount needed for the dividend, which Is nut
payable TIL February. Tho prEco tiuctuatci be.
tween 124ss md J:s,f, closing nj 1sl. Eric was
wenkcr, settling down to 48,s for tho common
AMI INK for tho preferred, whore It closed.
Northwestern, after going rs low rs III, re.
recovered to lgi!i, md elosrd at lal Ohtu s.
Mississippi, which WIS "poIntcd". 10 gn
up, .luencd from 8GE to I5H. Hudson
wns tho only c,nt stock thut exhibited my
strength, rising Il, to BuH; IAekawAnnn, sell{ng
nj 10IA aud lU,sS. clnsed ut itlA: Jersey ContrAl
lost u. TO 70: Union Pacific was nctire, md
Touched los und 1UdA, closing nt lD1ai; Iron
Mountain tnn'lo. 4, 10 40, Louisville l. Nashville
LOST tA, to nm; RIO urAndo fnited TO hold It's
nnvItico of Sutnrday, nnd rccetted to Soaf. clos
luz At SIS.
Telegraph stocks furnished tho only excite
tucnt for Il ratt,er lfst1ess nlnrkct. Western
Union inatio several pluneos to 1,Aas below 30,
but dhl not do so. 1t opeucd ut SIX aud run up
to III, thon dropnnd down to BoH, nnd closed ut
G.l, after roaching 30. American Union,
Which WIS ca SnturdHy morning, sold
rs high as Is, closing ut II. These figures nro
gAl a1,h w0rinwood to tho operators who forr-
saw thnt thusu two stocks tnllst rt,tne csuso to-
gtiher, but did INT huvc tho deoisvcucss 10 sell
Western Union and buy American Union. THO
tlnctuhtions Of Western Union indtcato that In
slhers aru buying, and this ls known to bn SO,
bnt It s nut known whcthor tho purchascs aro
to covcr short sn!cs. or to Mcguire long stock.
Mpnpy bccun,o more notIve In Now York, md
WINS quoted at tito closo ut y lid. Tle effect Of
the announcement was to stInluluto buyers.
Chtcngo brokors bought twice us many stocks as
they sold.
lnrHe proportion Of tho deliveries of West
crn Union On Saturday were made in certificates
benrlnR Mr.. VanderbIlt's namU. So public
proclamation Of a"natice toqult" by nntosI-
| ously largo holder Is regarded us u sufficiently
| rs'od reasun why ho should be getting himself
| ready TO buy. fn fact. the street. which nus
kpcn scout for tho ttoiIlga Ut commission brokers,
! was Of tho opinion that Mr.. Vanderbilt bought
| at low prices, md did 30 largely.
| The movement Of securities to Europe. ao-
curding to tho Financial Chronicle, hus recently
been worry heavy. Within a few days over ST.
:.D O0 Of new stock and bunds. chiefly Missouri,
Kansas & Tcxus and New YORK. Ontnrlo l. Vest
| Cru, hnvO been eent hbr0nd to bankors who arc
| expected to p1ace tsuu1 tn the Continent. The
| shipments of Now York Central 1llinois
CentrAl, and othor tlrst-class properties,
| coutlnuo 1urgo. and that thusu stocks Mro In re-
quest t London ia shown by tho activity in that
market and tho sseady ndvanco III price. Union
1cs.ic nId Ccntrnl pncltlc, and tho securities Of
the rcnrEaAtzed Now York, pcansylvnua j. Ohio
ltatlroad, also appear to DO in demand abroad.
Eric stock md second eonEo!s asIti 1icHdtnR
/ shRrCs ar0 spccMlRtch In almost to as great Hi
/ extent IN Loudon Us thoy aro In this tnarket
The rlso In tho liank Of England rate is likely
III tito enn to infect tho movements OF these last.
namcl securities morc materially than It Will
stocks, which arc takon OIL tho othor sido almost
| wholty for Investment.
4 Government bonds wero quiet. In Chicago,
District Of Columbia 3a1s wero 1ol BID aud lOlA
| asked; tho 10 were l11at bid anu 1llA asked,
closing ut 1'3h asked; t'1e 4As were 1llA bid and
lll5i asked; tho Is. 10lti aud l0lss; and tho d,
lOiys n1sI 1Q4si.
Furolyu exchange declined Il cent, after
| opeutAR strong. Tho market tuct,intcd 60
| much that staNdnrl quotations aro difficult TO
| give. atul will probably continue cslnnily scns!-
ttsc to New York inlinonco during tho next two
weeks. Sterling posted rntcs wero 40 ard
4Bss. IInnkers' artuul rates wure 41a for sixty
dny bills aull 4sO.l for demand. For sixty -aay
commercial bills for prompt delivery 44
For tlullyery Inst hnlt of th!s month, 4Ia!tDt77.
| Posted rutca for Paris were BIZ for sixty nya
and 6@sh for sI9ht. HExty-ay commercial hills,