, 1880-05-21
Stocks Open Strong, but Do Not
Hold the improvement.
Tho Public Afraid to Sell Short,
and Not Ready to Buy.
Governments Dull-Foreign Exchange
uigler-0ountry Demand for
Currency.
Tic rrodwt Markets lrcsular-pfoslslons Range
Higher, will aore Doing, Int
Clescd Weak.
Wheat f1fmcr Early, and Afterwards Heavy
Corn Sloadior-0aas Excited and
Nervous.


Nervous.
FINANCIAL.
stocks opened strong, md at first thorc woro
some gootl gs.!ns. MtchIgun Centrli ndva1ccd
frpn IN tu ejI, Rrle from ,saA to 37t. North
svcst from ~ 10 Hiss, st. Pam from = TO TIN,
WnbnsE preferred from 65A to 5oA. Pae1ic
Nail fs't', =, tu :p*. dorsey Central from 9'A
tu Gn uh.i Western Union from MY 10 o0X. hut
II sn.,, tre.tlnr evident TINT thcso figures could
nnt IN, held. Tho nmrket qtictly soil of with
t,u much excitement, md with no Rprnrert !
raid, until at the close most Of tho list showed
losses ns tho not result OF tho days transactions.
canut1a Southern WIS tho strongest fcnts,re. It |
opcncd Ut MI advance Of X, md nftcr selling at
4aJt and 81 clt,scd Mt r., Ratn OF ~. Rock |
1sland did not seem high enough to some ono ut |
l0l, md wns pushed up To 1ts Morris & Essex
undo !, to l0A; Illinois Ccntral |, t0 l04: North-
western prercsrcA v, to 1u7n; Wnbnsti 4, to
67k: Louisville & Nashville ., 10 ia; Lake Erlo
& Western II, TO 2lA; Northern Pacific pre-.
forrrd u, to d5; San Francisco Y, to H}A; Nam
hattan tx, to FIX; Minneapolis 4, to 6oh; and I
Chesapeake & Ohio !. to II. ...
Western Unon WIS wouk. md r1lmorS nto
floattng about Of coming war with tho AMER
lean Union which will put tho price Of Western
Union much lower. 1t opened ut 8alx. sold up to
o0T, md then declined 10 A3!4, whcrc It closed
wcnk. Northwest. nfter rcnching 00A. dcclncd
10 Sa1l, n lpss Of x. nnw pool IL said to ihvo
been formed to take ., 900 shares Of this stock
Bo fnr tho crop prospects nrp favorable tn tho
rpatl, md It's present merchandise business Is
l,cyoud nil expectation. Now York Central
slttctuntel hotwcen 1sO mud las5H, selling hnnlly
Mt tho lower figure. Michigan Ceptrai closcd
weak ut 7ss. n loss Of y. and Lake Shore nlso
closed nt tho lowest point OF tho day, f1lf,a
decline 1T /. st. Paul sold as high MS 7:l md
fs,. cIyrrt fff1t4tt N{Y1{f1
to3lS. fell tn GoA, md olospl a oil, mt 81. Ohio
rs,ntnon dropped from - to .|A. Points nro In
circulation that tho condition Of this road hts
greatly improved, that It's tlOattuE debt hna hcon
pail oil. md surplus OF sever1ll hundred tho'i-
sand dnh1s accumulated st. Joe common lost
y, to 70; tho preferred Il, to 0s.i; Pacific snil
14. tnJ)t4. THO coal stocks NIL lHEan tho dny
rayely, hut ctoael 1t with notable losses. lIud-
son mnt,o v - IA, aud thon won't Oh III, to
,9Ii; LacknwAnrs Slyunccd from S09s 10 eoA.
rccelcd to INA, I'll Mt tho close WITS sDE, do.
cline of /. Heading aoae 2, to 4dH. Iron Moeint-
ain rnugeh between 4.y. .nl az, closing At II,
net decline OF X.
business fl Chicago .us light. There was
somo frcsh buying, but It AooN not nBErrgnto
enough to nile ct tho market. There IL very lit
tic confidence US yet In II rcrtMnCt1t recovery
IN quotations, and sonlo 0pctntors hero stu have
courage to tcfl abort.
Eric second os opened mt Bo!i, sold rs high MS
s0al, MS low MS 81, and clnscl ut SUI.
llnllroAl bonds, In New York on Tuesday,
Rcro generally weak and 1owur In tho carly
dealings, but toward tho close some III tho moro
active Issues showed n pArtlnl recovery. Eric
consolidated seconds 0pcnod X ror cont higher,
ut SSG, rccodtd to ks, and closed Mt 8sti; do
funded ka declined from &, to baM. Kansas &
Tuxus nrsts rOso from 1GO4 to l005i: mud do
seconds from lsM 10 ii, with iluAl sRlos at isf.
1,utnut WntDrtown & Og1unshurts consolidated
tlrsls fell otf from u TO Il. but recovered to hs+
Iron Mountain first rlofcrrcd inoomca sold
down from 70 to Il; do second do declined from
% IA Gs34, aud advanced 10 9oh. Boston, Hart
tDvs, & Eric trsts rcccsicd trsn Is tOS7h; CanafA
Southern firsts R,arantood from Ru7; to ssh; c.,
e. & /. C. supplementary ilt1t8 from e0S to
R0 do incomes from - IN SlA: Cairo i
Ft,ltos1 lrsts from 10a to 10lE; burlington.
Cedar linp.tlE s. Northovu arata from OlX to OF;
EnnBas Rucltg tlrsts consolidated frnn 9l tn ";
Alton j. Terrc Hautu second preferred from
l0ita 10 10i: New Jersey. Central nrats cnnsoli-
dated Rascntctl from 100 10 1Gsn; Ohio j. Mlss!s-
sippi seconds from, ITO TO lOs; 1T. paul seconds
from llS 10 1liM; do consolidated front Ill
to 1l0i4: IcxAs Pacific Incomes from 60ts to
bs!f: Sun Franctsco seconds class A from %
to SUI: Wabash consolidated cunrartiblos from
III to 04; Feorfn, Decatur T. Evansville tncoucs
from, b9 to 10; Delaware Hudson Is Of 1ssf
from 40 to 1904. Chesapeake s. Ohio currrlcy
Ca advanced from Is tn 10; Kansas City T. North
crn rcal-ostate Ss from Ill to 1llH; Nov Jersey
Central adjustments frun 105h to 1Og: Ohio
Central iirsts from 8o.s tn 20. Chongn, Durlug-
ton s. QAtucy ~ sold up fn,tn l1.:N to lssk, but
returned to LEN.
Government bonds wcrn dull nnd not quito 10
Bttv'hg. Tho District OF Columbia Lets woro DlA
lid and 0aH uskcd; tho United States l. wcro
10TH bid and 107si uskctl; tho AIS wnru lo9S aud
10OA: tho Is 100 mud lG4; tho Us lU15s Anh 10Ji
The Senate Inst Monday received commuM-
catthn from tho Secretary 0f tho Treasury nc.
knowlc1gtng tho receipt Of tho resolution Of the
E1th lstnnt asktng him whethor tho pnssago Ut
thoblll rct,oalIuE certain ludotlnit ahd permit
ncnt annuni appropriations would infect tho ar.
preparation for tho sinking fund for tho 3,u,
bonds OF tho District Of Colurnbtl provided fot
ly tho net Of AInrrh ,, 1870. Tho Secretary, aftc,
nna!yzinH the lcEislntton colacct1,lng tho bonls
gives It MS his opinion that tho payment Ut In
tcrcst and sinking fund On tho funded dcbt oi
tho District is wholly dependent on annual up.
preparations by Congress, md that 1t w0ulf
secn1, therefore, that tho passage 1T the hlIl II
question would III nH way Alfeet the Payment 0
such lntcrust. Hut to avoid a'i obscurlty b,
doubts as tn tho meaning Of tho bill, he suggcst,
thut ta1crn DO Inherited u rrov!so that tho NO
shall not repeal uny laws gu arantccing such pny
Mctit+
Foreign c1chnnRo WIS stronger, with highe
tendency. Sterling posted rates werp 4Ha,s ans
&s9tt. Actual rates wcro 4S6 atld 4SU; und locu
mentary sterling was 48lGbfs4k, Fronr1 bunk.
ora bills werp Ell and hl7h, anl uortnan bank
ers' Lil!s Us nnd N!S. Frunch commercial. G,l5
G5l1 Commercial marks wctc SiE. Tho OK
lx,rts Of domestic produce from Now Yurk 10
tho past week amount tn SO,1Ii.ass, agalns
Sj,G97. .9Gs far tho corresponding week OF t81t
Tho following taGlo shows the exports tcxclit
sive Of speoicl from tho port nf New York ~
tho week ending May III, lsso, compared viii
tho statement OF tho two previous yostss:
10, thu w.cs.:..,., assies : saS:ss, : 7ns!s; a%t