, 1880-05-09
FINANCE AND TRADE.
Stocks Open Strong, React, and
Close Weak.
The Produce Markets Generally Quiet
Except Corn, Which Was
Rather Weak,
FINANCIAL.

Stocks opened with some appearance OF
strength. but this was soon lost, and the market
ran down steadily to the close, at which point
prices were weak and dispirited.
| There were q few gains, but they were not Inn
| portant The best recovery was made by Min
neapolis, which went up IL, to 55; Cleveland
Columbus, Cincinnati t. Indianapolis Central ad-
vanced =, to 73h; Illinois Central 4, to 1851
t Northwest preferred X, to los; Columbus, Chi
| cago & Indiana Central u, to 11N; Atlantic s.
| Pacific 4. TO Il; Lake Erie s. Western u, to 28;
San Francisco preferred 4, to 44A; Sioux City
preferred u, to 731z; and Chesapeake s. Ohio =,
F.! 1nl7.
| against Northern Pacific. The common has nll
along been selling at much higher prices than
| the insiders ever thought it was worth. 1t
opened at AK, advanced to 25 sold down to q ss,
| where 1t closed. The preferred sunk from 50h
| to IS, closing at 46, n decline Of 81. The coal
stocks were all weak again. Hudson lost *, to
| 1ssl; Lackawnnna Y, to 844; Jersey Central Il.
| TO I5; and Reading Ii, to 55 Western Union
was noticeably weak, and went steadily down
from 1o5 to 1G3h. Morris g. Essex lost
Il, to l08; New York Central Il, to
1e6K; Michigan Central IL, to 84ai;
Lake Shore ss, to 1o4H; Erie ii, to 3sz; the
preferred Il, to 6sA: Northwestern Y, to 911z,
after selling at a.H and Ok. St. Paul ranged
between 16A and 75,i, losing 4, to 75ts. Wabash
sold at 35AQ13G034Ss, and the preferred ut 855z@
65A9644. Ohios lost x, to 30A; ST. Joe 4, to
81: the preferred l, to 70; Kansas s. Texas Y, to
BIZ; and Pacific Mail x, to 80, after selling at
3'4- Iron Mountain declined from 4915 to 47H;
Louisville g. Nashville !, to I.3; Chattanooga 2,
to %; Texas Central 3. to IS: Canada Southern
u, to60; Manhattan 4, to 29ai: Sioux City 4, to
10; and Mobile & Ohio e, to 151S.
The much-advertised reconciliation between
Jay Gould and Keene had very little effect on
the market. The shorts did not rush In to
cover, and the bulls did not hasten to take up
new loads. The temper Of the brokers and the
public is decidedly bearish. Advices from New
York were to the effect that sharp rally might
be expected at any moment, after which prices
would go still lower than they have been, Some
OF the students Of the game stop here, while
others venture to express the opinion that, as
the result Of the severe liquidation which has
taken place, the solid stocks will be purchase
at any further decline.
Erie second IS sold at 91@9lA A@907x@904.
Railroad bonds, in New York on Thursday, |
were active but weak, and generally lower
the greatest decline being in Boston, Hartford |
g. Erie hrsts. which sold down from 55A to II, |
and recovered to II. Erie consolidated f1rsts |
declined from 110 to uSH: do seconds from 9lA
to 905s hdo funding from IS to s41z: Kansas S;
Texas hrsts from l02 to 101; do seconds from 81
to 593; Rome, Watertown s. &Ogdensburg consol-
idated frsts from 50 to cox; Mobile s. Ohio first
debentures from 7sA to r.; c., c. & L c. supple
mentary ttrsts from 81 to sgh; Erie & Western
Incomes from Sc to IS; Texas Pacific incomes
from 66 to Is; San Francisco class from 73h to
3: Delaware t. Hudson coupon Is Of 1894 from
l014 to 101. Chicago, Burlington g. Quincy Is
from 12l9z to L.; do IS from 1091z to
[09H; Michigan Central sinking-fund 81 from LOT
70 l0iiz: Ohio Central incomes from 10 to 49h:
j., T., c. s. l. frsts from l17z to lis; Northwest
registered gold bonds from ll1M to Lis; Denver
Rio Grande drsts from l0lx to 102
Business in bonds was only fair. The District
II Columbia 3.G5s were ~ bid and 95 asked: |
he United States IS were 10T bid and 107A
lsked; the {..s were 10s4 and 109; the IS 1Gax |
ind l03; and the 6s l00A and 1OoH.
There was larger supply of foreign bills.
sterling posted rates were 1855 and 4s9; actual
ates were 4s50ts5K and 4ss0ts94; and docu-
nentary sterling was 48aR4s3A. French bank
rs bills were go and 517H, and German bank
rs bills IS and 95H. French commercial SAY
1I.5. Commercial marks we're 94G95.
Chicago bank ciearings were 81, ,4p045l. Cur
ency receipts were in excess Of the shipments.
lew York exchange was sold between banks at
SC per $1,000 premium. Discounts were not ,
ctive- Bank rates were quoted at COS per :
ent1 with drst~class call loans at per cent.
Manager D. r. ffale, Of the Chicago Clearing
louise. reports the clearings Of the Chicago
ank9 for the week rs fOlpxA. Z