, 1880-04-30
The Observation-Disclosures by Fright
- eneu Holders.
Governments Strong-The Cur
rcncy Movement.
Ths produce Markets Nervous, but Raiher
sleady-ptoyislons Weaken, Then
Close Stronger.
WHEAT Essler, with Depressing Foreign News
olher Grain Shows Lftslo Changa.


rrhe depressing influences that have bocn NJ i
york on stocks have NIT yct abated. Prices yes |
pr.ny continued 10 sink. Thotc was Mt onn
lime sign OF recovery bit 1t quickly uiaap.
3cArcd. All sorts Of rumors were uiloat. keene
yns reported 10 hnvo attempted 10 support tho
st: D6uld was giving orders ia sell. Some Of tho
bcnrs are credited with selling stocks to thoir I
comrades, Tho trouble In tho iron trade hHs
,1,tseJ n question oven nunng those who hhvo
been believers In tho coal stocks as TO
bow tho coal trade, and with It tue
conf companies, would DO affected. II
tho cool stocks break, tho wholo list
Will 40 with them. Thoso who Wish to pur-
t,e tho fascinating but perItouagnno of making
cnlc,tjntons abt,ut tho future Of tho stock mar
kct havu Il problem complicated cnoukh to ohal-
lengo all their powers of dlv,natton. ono of tue
few ccrtnln things Is thnt, Unless soon checked,
Tho present drop will curry prices "a much too
low IA they went too high in November.
, Tic xrcat danger to tho market now lies In
growing fright among holders ct long stock.
They have resisted tho decline no fur, believing
It to be due to April settlements and nnnspuIn-
tlon. Tho continuance OF It, together with
smIar movement in almost nil otner
prices, md cessation or nctlvIty in
penernl business, hus snt them to
thinking, ard somo arc selling now who held
their stocks through tho pnno of last Novemltr'
II this cnss got tn selling desperately oEon tho
cliQucs will not bo ablo to Orrcst tho wrock that
wtlf follow.
The conl stocks we're noticcahly weak, Read
ing especially so. Thrce-quartcrs Of thLs stock
arc still held by the same persons who owned II
before tho pnntc. md 1t hus very little support It
Hold down from Gess to 6o5s. Morris T. Essex lost
Il, to 1GiS: Hudson Y. to snA; Jersey Ccntra!
H, to 75,i. Michigan Central, which is declared
to be earning l0UN,U0 month net. declined
>rr,n ~ to NM; Lake Shore. earning por cent
tor<s'.'1els tnonth, lost y, to 1OT: Eric H. to
Iss' 1!fle. -osliug Mt A.: Northwest u, to
~; - ~. ram 1s.tn 77X; Wabash y, to
-; Ohio T. 70 ~; K",,s.~ Toxaa 1A, to a3X.
pncsio II, to sGsi; I'nn Mo,''.tnfn 1a7>- 4Sk;
louisville g. Nashville aIs, to l3ss: Chattanod9a
l.s, 10 u; Northern Pacific y. 10 SIN; Mobile &
Dhio y, to lDK.
Manhattan X, to NN. SIM francisco !, to 70; tho
preferred .. to ~; Northern Tncsfo X, to es<;
canada Southern Il, to B16; Lake Eric & West
rrn *, to t,lh; Texus Central 4, to cox; st. Joe
preferred ", to II; st. Joo .t, to ElK; Eric pro-
rerrcd u, to O5: New York Central II, TO 130; ILL.,
noIs Central u. to 10s-
Eric second 8s were ok at tho beginning and
close, and sold at BIZ bctwcon times.
Railroad bnnds, In New York on Tuesday,
Ecro irrtgt1inr OH n modernte volume OF busi-
ness Erie seconds roso frum 9lA to Qlh; DO
funding from 85H to Hss; Denvor & Ito Grando
arsts from lG5A to l00R; Lchigh & Wllkcsbarrc
nOnbcls assente1 from % to 08H: Northwestern
eonsols ,trum ls3 TO 1i3X; Metropolitan Ele-
vatcl Nrsts frum 10l to 101H; Kansas Pacific
lrsts consolidated from 05M tn 0G; do Ncnvcr
Dlyision) 0s assented cx-coupon from ooa
10 100: Great Western seconds from
loiA to 1o4A: Northweatorn registered
sold from III to 117k. New Jersey Con-
fral Incomes dectIucd from 81A to 10; Canatlt
Eoutbern 1rsts guaranteed frnm OIL to 00k: Ohio
Central incomes from 81 to COX; knnsas e. Texas
seconda from e3A to O.; Lafayette, bloomington
&Aiuncto firsta from 1olM to 1oi; do incomes
from Il to 70; boston, Hartford & Eric tlrsts
from 60 to hJh; Fort Wayne 1lrsts from l30h To
G1o: Rome, Wntartown & OgdonsburE consoll-
1nted flrsts from GTi to 90; Great Western tlrsts
from los to 1o7H; and g., O. l. l. O. incomea from
IN toJ7:
Government honda arc in activo request, With
a Light supply. District of Columbia 3.05a wcro
p4 bid and D6 asked; tho United StAtrs Is, 107x
bid aud lU7n asked; tho AS, l0Bss and lo8T the
Is, lQDA md 10t; md tho 6s, 100 ind 10GA.
Foreign exchange wus steatiy, ,nnd tho rrq6pcot
wns beloved at Now York to be that tho highest
point had been touched. Sterling posted rates
were Aso and $50; actual rates wero 4Fs 4 anl
484A, and documentary sterling WAS 4tsai0biK}i<
Q54si. 8fsilch bankers' hills wGro 6a0 hnsl 6l7M,
mud Gcrtnnn 1ankurst bills Us and 05}t.. French
curnanrsclal. esaE05a5. commcrd!al marks wore
W uuI pth. :.
t,the Chicago banks business WINS lighter.
Receipts Of currency wero fntr, bit Now York
cxctunge WIS In icas dcnlan4v and waA quoted
ht GA6Ibc per 21 GU premium. Discounts were
t1lotlarnto ut 01S por cunt. Hank cicarlngs wero
Sl,N0,000.
: North Chicago City Railway u sold Mt sl.o7S;
Milwaukee, 4 1t. Paul IA 1T $l0,.4. Brokers re-
port TINT three-f0urths Of tho Cook County 4Ha
nro sold.
New York views of the stock market; The
Herald Of Tuesday said tho bigger bulls without
RellnX themselves, aro perfectly c0ntant u SOC
others to DO so, and wnit with paties,ce tho time
when tho iesscr brothrcn shall have been wor-