, 1880-04-02
FINANCE AND TRADE.
4 Bad Break In Wheat and Pork under
Large offerings.
FINANCIAL.

In suno respects tho stock mnrknt ras OK.
trcn,cly ucttvo. At times It presented d fercrA
tsh md unsettled inspect, hut III tho mnn wns
firm. Manhattan lsa'lrond nRaln cnmo to tho
front. or rnther went To the rear. on rapidly sIc-
ciininE scale of rriees accompanied by serious
r1lmors Of passing dividends aud heavy Iossca
daily by tho Seco,,d avcnsto branch. The stuck
ulencd nt Gtssh and csosod Mt 2tsi. In sympathy
with Manhattan, Metropolitan Esovntcd one Of
its lcnscd tinca. fell from JOS to0f md New
, York Elevated from Ito 10 ill., It May he truly
eaid thut thcgo properties, instead of being
"clcvatct1." wcro depressed. FLUSHING 10 uther
stlcks tho record II rlther morn pleasing. lllr-
lington roso from 14sM to HOY. Nrw York Ccn-
trul Nbont The Ra1nc. Michigan Central advanced
y. Eric X, Wnlnsh 4. preferred Il Of. Mis-
so,lr,, Knnsns l. Ioxas II hotter. Western Unton
unchNngcd. 81. 1'nut 4 sioux City common nIr
u. Northern 1'uciic osr 4. Alubilc & Ohio
per ccnt. Ut. Louis 4; New Orleans prr ccnt nj.
vance.
rrynto ndviccs Mt various times during tho
dny reported money close mt III sharp de,nnnd
Mt Il, H. 1-iG, md Mt tho close III, above lc9nl
ruth, There wGro rtl1unI1 OF Il further advance
II, 1;rin Atiu III Pacific Mill. The situation III
Manhattan is pgrplexiug, mud tho future fsnpct,-
ctrnbte.
TT railroad bonds, IN New York On THcslny,
tho dealings woro charnCtcrzetl BY II Iirn tui,t,
aud prices advanced In many instances under Il
Irsk Investment Inquiry. Tho Eric consolidated
seconds and funded l.wcrc taken freely. tho for
urer ndyanelns from nl:k tn r. and tho lnt-
:rr FROM 81 tn K!;, with closing snics
ltsG and X5};, respectively. ST. 1'nul col,soitat-
ri sinking funds roso to Ill; ChtcnHt, g. North
western consolidated registered gold to III;
Ennsns & Texas trats to 1tl: do seconds to Cs.4:
New Jersey consolidated nsscntel to 10Dsi; Dur-
lIngton, Ce.tar Raplls S: Norther, tlrsts declined
lo0l; nn1 e., G. & !. G. Incomes to 10.
Government bonds werp strung n,,l ncttvc: o.,
lss1. 1t4 4MlN'H; Il. 1881 1!kgLir1,i; 4!is, 10s1s
kt1Hy: ~, l@1iGbl0G.t.
Foreign cxcl,nn1e Is steady. Rates, Now York,
4Bis.@IS'Y; chcngo, 4si..0+s1!t: commercial
bills, iRSl1dtIs2a.
This lselng tho first Of tho month, counter
business ut tho bnnks WIS heavy; but every
thing moved nlonH smoothly, at,d II any ssort-
ago on balAnccs wero likely TO occur, thoy ia'l
mniniy hccn provided tor III tho carly part of
tho wrck. We hrnrd os TIL "shlnnirH" or
"kit!ug," which, considering tho >ra.llor close
money 1narkos, ~ crcd4ablo to tho hank
balances OF our business men. .rhts Il III
Hnrkrd contrast to tho catMlition Of things
r,,llilS III WAtl Street FOR sOtne tnu pnst, whGrt
Il per cont per '1ay hns boom pltd for carrying
loans on Btocxs- Tho Btcnly ntIhcrulco Of
Dl1r people to Legitimate trn1iu Iii fnrln
products, tn merchandise, anu manufacturing,
with tho general atnbityin priers. mike money,
though c!asc. yet abundant to curry OIL tic vnst
and rapidly nug,rentiug tr1lle Of the city. Tho
v
vain" untl vlllnIrous IN Will street arc sure 10
dcmurnllzo tho money mnrkct In New York
every few months. Indeed. 1t ts by these they
get thotr gnlER. Lot tho !nturior cities steer
olcar OF their vil'ninoi,s practices md they will
not liAvo 10 pay 4 per cent per tuy to stavo oil
ruin fur n dny Or Il week. usld thon at tlst loso
perhnps tho cntiro savings OF u lie Of economy
uni toll. ,.
Tho discount rates With several Ut. tho leading
banksaru 7dts pcr cont, white IL few for shnrt ot
eAsl lonna will ncccpt u. Tho lower iiguro Is for
tho prcsent exceptional.
New York oxchangc was tlrlner ami II fraction
higher. The ruling figure for tho day between
bauks was G9o per 81 GOO discount. Transactions
limited. 49,
The hunk clonr1ngs wero fs,ihO0Q.
From tho speech af tho british Chancellor o1
tho l:xchcqucr In Parliament, 3larch II, wu Gun
dense tho following fiscal statement from the
Spectators summary:
Tho rcvcn,to Of last ycnr, estimated nt 1,at1
Miu0, would. In I'LL pr1sbMb1llty, yield mi,
Es0, ,HIN. Con- shaving II arie!Gury Of ~, iGj ,NEl
This GGciet1Oy Ia Increased by tho HlippGnlHitt.
Ary estimates fur tho cost 0f Inc Snlth-frIc,ll
Wur tn totui deficiency OF .tjtU,OU, uu tllt
accosnts OF tho year. For tho cunning year, Il
there wore III, 0hnngG Or hlxnt10n mud ITO pE,
vision for pnyinR of tho accumulated deficits
tho estimates would bg ns follows:
EvrESD,TtfhE.