, 1880-02-28
FINANCE AND TRADE.
Stocks Open with a Rise and
Close Steady.
Just What Might Be Expected from
the Prevalence of Bear Talk.
Governments Steady Currency
Going to the Country.
The Produce Markets 7ame-Wheat Fifmer,
bui Cash Lots Duil-Corn Steadier.
A Further Decline: in Provisions, with LESS
Demand for Export.
FINANCIAL.

Demand for Export.
FINANCIAL.
As might have been expected from the presa-
lcnce Of "a bear" ttlk the previous day. the mar
kct opened strong. Cannda Southern ran up
from Is to 6G,., Manhattan from - TO 36}s,
Northwest from el5s to Ges, Chicago, St Louis
d New Orleans from 4sh to II, St. Joe from 4o'9s
to- - Lake Shore and Michigan Central we're
strengthened by the reduction OF rates On Inc
east-pouud business, as 1t T;s believed 70 insure
au increase OF traffic Lake Shore advanced
from 10szs to los and Michigan Central from
91x to g.h, The coal stocks opened very strong
Lackawanna rose from 90s to 9s1s, Delaware j.
Hudson from 7s4 to 795Hs, Jersey Contral from
85H to S3s: These prices were not fully maln-
tained, but the geno rul tone OF the coale.s
showed an improvement Kansas d Ie1as,
which everybody has agreed TO oe espe-
cially weak, opened at 4sn, lost 4, 10
42E, aud, after. great activity, 'closea at
Ash. The Granger stocks were botn wen he1o'
and lnrge purchases were made on western ao-
count. Nearly everything on the list showed
rnin at the close. With the change in quota
lions there came change Of heart, and the
brokers and operators who were bears the dny
before BECAME bulls The course OF the MARKET
affords support to the view that powerful at
Temps to depress it are being made in the inter-
csts of those who have gone short, and tnat
there is large party Of bulls who are not I'M
willing to sec slight reactions that will enable
them to increase their holdings OF stocks. But
It Is not to be denied that conservative men
think present prices too high, just as they did
last spring.
Closing prices in comparison with those OF the
afternoon before showed gains for New York
Central T. to IGh; Michigan Central is, to
aaS: Lake Shore l1x; to los; Northwest II. to
93S: the preferred 4, to 100: St. Paul liz to
Sl4; the preferred Il. to 10321; Illinois central
i, to 1osk; Alton y, to 101: Union Pacific =, to
3la; Erie 4, to 45a; the preferred \, to TUX;
St. Joe 4, to IL; the preferred i, to 75h; Del's-
ware s. Hudson y, to 791k: Lackawanna II, to
a1x; Morris & ESSEX l, to los; Canada Southern
y, to G5H; Kansas g. Texas IN, TO A51s; Wabash
4, to 44s;; the preferred 4, to 691s; Minneapo-
lis 4, to 58S, Reading x, to 6e; San Francisco
preferred =. TO 81; Northern Pacific e, to 334G;
Pacific Mail Il. to 43ss; Chicago, St. Louis l. New
Orleans. IL, to 4GH; Chesapeake & Ohio pre-
fezred l, to Sc; Sioux City preferred \, to so'
Manhattan ., to IL
Ohio & Mississippi preferred lost s, to Il, clos
ing at 7e; Northern Pacific lost x, to 5sH; San
Francisco Il, to- 43a; Atlantic Pacific Il, to
ASH; Western Union e, to I411; c., C. l. l. e.
IA, to e15f; Louisville s. Nashville 2H, to III;
Burlington l. Quincy ], to 145.
Erie second Is advanced from a1A to g.
In railroad bonds, in New York on Wedncs-
day, prices were lower in the early dealings for
some issues, but toward the close the market
became strong, andA recovery ensued under
an active demand. Erie consolidated seconds
fell of to g. and funded IS to 81; but the former,
in which the days business amounted to s95S, ,000,
closed at a.7s. Chesapeake g. Ohio firsts series
3 fell OF to 60, while do currency IS advanced,
under an active inquiry, from 43!z to IN. Kan
sas Texas drsts fell of to 10fa5, and seconds
TO 657s, with closing sales at 105 for the former
and, at CO for the latter. Iron Mountain pre-
ferred incomes declined to 901z for firsts and to
80 for seconds, but later advanced to 81 and slk
respectively. c., G. s. L C. incomes declined to
4G and closed at 461<. Boston, Hartford s. Erie
frsts rose from So to 58A, and reacted to 5C4.
Mobile s. Ohio first debentures sold at 75HG76.
In the market for Governmcn bonds busi-
ness was fair. The 365s were 95h bid and 973s
asked. Fours were 10Gss bid and 1O6,z asked in
Chicago The AS were, 1os4 and losH, the IS
lG3A and 1G3H, aud the 8s 1854 and 105h.
The demand Tate for sterling advanced on ac-
count Of greater hardness of money in London
Sterling posted rates were 4s5 and 1885, New
York actual rates were 4s41z and 4s1A. In Chi
cago actual rates were 49, and 4s7. Sterling com-
nlerciai bills were 4s9G1S2A- Paris bills
5s1T. German commercial bills were o.
There are, according to the Nav York Ercning
Post, no Indications as yet that the New York
market is manipulated for early shipments of
gold, as is threatened By leading stock specula-
tors who are working to break the stock market
It would be misfortune to have gold exported,
rs it Is now an active part of the currency;
| whereas, before specie-payments, it WAS in fact
simply banknb1e commodity. 1t is true that
VIC are drawing very near to the time when co..
ton bills will become scarce- The deferred ship
mcnts Of grain, however, which are yet to CONE
! will to considerable extent, compensate for
the falling off in the supply of commercial bills
| The imports are not to be expected to show any
decrease, the rise in prices here and the gener-
ally buoyant feeling respecting business Of I'LL
| kinds tending to encourage large imports. The
| following shows the value Of exports, exclusive
| OF specie, from New York to foreign ports for
| the week ending Feb &c and since the beginning
| Of the year:
Ess Ess9iss!s tbs ssssfss4 s * .ss' Sis:
Since Jan 1.-ss5,1s ,1s3,es <41afIs5 s42 s5io5
But these figures are not complete, as the
| Government has suppressed three cargocs,-
probably wheat.
Shipments Of currency from Chicago to the
| country were not so heavy New York contin-
ucs to report currency scarce, as does Philadcl-
phia, while ut Boston there is plenty. New York
exchange sold between banks at SOC per 81 GOO
Rates were COS per cent Bank clearings we're
| +, 4,3000 0M-
West Town is were sold at 13 and Chicago,
Milwaukee s. St, Paul IS at 110.
Transactions on the Chicago Mining Board were
| light Sales were reported Of Chicago s. Silver
Clin 900 at 20, $50 ut liz, 1000 at 17,< seller 10;
LOO Chicago g. Silver Cliff at 17s3. The follow
| ing quotations we're made:
| MORNING CALL
| It'd Asaxd.
|
Consolidated FtrgtnfA. 81 33s
Original Keystone. 80
| Union tonSold1tRG
Boston Consolidated ! 3-1D
Chicago i Silver rCld.--.......---.......- 81 ii
| Central Al1xUnA. M
CsHk Eoanty 1u3& lU1I
/ West Chicago ls........................lH lHH4 lB
! United States is is.-.....................-.. uki -
| Chicago. NiL st Paul Dakota Ex..-. lU 1Bl4
| Chicago West DlyisiQn HaiIway...,,,,- EE
| Chicago City Observation-Disclosures. la5 5U
G4s9ht & Coke. l47x lis
| Chamber Of Commerce.. G5 10
| Interstate 1ndustlin1 Exposition. ~ II
| AFTERNOON GALL
! Bid. 4,ktd.