, 1880-08-09
FINANCE AND TRADE.
Review Of the Financial Situation In
Chicago Last Week.
Ths pradks Harttts Rather Quiet, but Averaged
Firmr-Pork Dull-Meats 1ogt letirt.
Winter Wheas stsonaer-SptIng Wheat Firm
\ Corn Steady-0ats Easier.
FINANCIAL.

During tho past week tho plethora Of funds In
tho Chlcng0 money market. received no rolscs.
f0nns wero still offered on cnll ut a15 per ccnt,
and could hnvc boon secured ut per cent on
Government bonds. Titlo lonns wcro b1' DIR
cent to tlrst-cinss borrowers. Tho country
ot,tcrs for currency xrcw sllshtly heavier. and
considerable 6urnR wcro ordered from NOW
York. Now York exchnngo sold bo-
tween banks aa low ns $1.so pcr
$1,000 discount, When tho currency move.
ment westward from Chicago anu westward and
sotlthwar from Now York l.ocon.ca active. 1t 10
estimated TINT fortnight Will cxl,ntst tho s'lp-
ply Of paper In Now York utll that tilat city
Will hnvu to ship gold to tho Interior. business
in foreign exchange was gusot during tho week,
with molctnto offerings OF bills. Transactions
IN New York Stock Exchange securities wefo OH
largcr scale ns prices advanced. Investments
werp In request, and 1nrEo sales wcru 1nndo OF
Chfen1o, Burlington Il Quincy ~, vt. paul, hltfl-
licapols 4 Omaha Gs, Quincy. Missouri & Pncito
g. and other rnllroad bonds Tint attractcd favor
milo notice. ......,
Chicago tank cloarIngs wore e., 900 900. aQnnst
,p0 600 In tho corresponding week OF lust yonr
Tho New York, Ontario T. Western Hallway
has good prospects OF becoming trunk line. It
has received ny 20 per cent subscription
$1,h5s, u. III, and by 10 per cent subscription
s1,slb, ,45o, mixing totni Ut &p,573p7s.l5. This
money II to be expended In tho construction uf
n rond from MEtltlletown to New York City, ter
minating Oh tho west sido IF THO tiuds0n River
Mt or near Wcehawken. When tho connection
to Now York hns been nalo md tho Wellaud
Canal Inns boon opened. which will probably be
within tho next rear, this tlno will Inake nnothor
through route to tho Western cittee, beside max
Ing 1t possible that tho strength Of tho new route
rs a compotttor for through business will induce
Western railroads to scok II connection with 1t.
! As to tho Now York connection from Ml'ldle-
town, work Ia now In pro9ress on tho west slide
1 Of tho Hudson hlvcr botween Cornwall and Now
| York. It Is expected that this connection will
| be completed within ycar.
1 EarnIugs Of tho st. Luuts T. San Francisco
| ltnlroad for tho fourth wcek iii July wcrc Sx31-
| CO. being IN increase of $4,000 conpurcd with
tho same week lust yoar. > -.
Earnings Of tho Toxas Pacific RailEoad:
hI1 TbFa wssE sssk & 81 jjsly; jay 5
Tho gross earnings Of the Chicago, Milwaukee
l. st. paul Railroad for tho fourth wcok In July
woro: 1880 mo: 1s7o S27J.5aa. Increase,
$G547A, From inn. / to July Jl: 1880 81, ,000;
1S1p, 0s,ID. lnurcnsc, 81 ,GGtB71.
The earnings of the Michigan Central Ralrohd
for tho month OF July show an Increase Of
sa10,OO0. . -... .,....
Tho earnings OF tho 81. Lorts. Iron Mountain
T. Southern Rn!lway during tho month OF July
Increased Sl03.Sr).
Tho Chicugo & Alton Railroad Company's
semi annual dividend for Sept. l Isl 3It per cent
on both common and preferred stock. During
tho past two years tho acml-nnnual dividends
on tho common Ktook hnve been but Per cont.
In 1876 md 1877 tho dividends OIL both stocks
wcrc at tho rate OF per cunt per annuu. mud
previous to 1875 they wesc for several years ut
tho rnto Of 10 Tur cent, besides dividends IN
| stock.