, 1881-06-19
BUSINESS.
Stocks Irregular, with Great
Strength in Some of the
Specialties.
Attack on Canada Southern
Other Vanderbilts Life
less.
Western Union Touches the High
est Point Yet-Finances in
Chicago.
The Produce Markets Less Active and
Generally Easier-Provisions
Tame.
Spot Corn strong-A Feverish Feel
ing in Oats, and Lower
Prices.
FINANCIAL,

stocks were not active, and were Irregular,
With the exception Of Western Union md some
OF the spcciAlties. There WAS 10 important de-
cline In any Of the Vanderbilt group except
Canada Southern. This suld down on reports
that the dividend would have to be passed on
account OF the dcfeat of the Cnuada Southern In
its bridge suit. The Amsterdam stockholders,
who are always used by Will street gossips us a
reserve IN case OF emergency, were dcclared to
be free sellers. The stock sold within points
Of the lowest price made on Gray Friday
western Union was one of tho few nctiyc
stocks that seemed to know its own mind. 1t
steadily rose till the cnd. when 1t was quoted ut
156.s, tho highest notch yet renchcd. Very
favorable accounts are given Of its business.
Russell Sage says tho earnings of tho Company
this year will amount to $l3,N 900, and he pre-
diets that tho new stock will go to ITO.
Houston & Texas Central advance i from o5 to
Jog, with very little stock for sale. il large
short interest Is reported III this stock, but the
rise had quite II different origin. At tho cntl OF
the last calendar year the road had surplus of
,lA Since then the incl OF earnings over
last ycnr has been more THU S+0U,U0u, making
the present surplus over $1,UO0,oOo The debt oil
the road is Sls,0O0,000. AMI the entire stock
amounts to $7,7.j,900. The net earnings last
year are stated ut <1,ss},677. or enough to pay
nearly IL per cent upon the stock. Heavy pur-
chnse5 have lately been made on London ac-
count, not only OIL account uf the large carn-
tngs OF the road, but because of proposition OF
some English capitalists to purchase the Sc
lceted Texas luuds Of the Company ut n price
which would amount to more than the entfro
bonded debt.
Rates are still being cut. and reductions are
nude on high-class freight.
brokers reported very ittto pressure Of stock
for sale and few orders to buy.
Gould brokers were buying Erc,-a good sign
that Gould was not buying it.
Great difficulty Is being experienced by the
pool in ST. Joe in selling their stock. The earn
ings Of the road have decreased $l55,O00 since
Jan. l..
At the close tho market, though not active,
was strong.
Prcphcsylng is dangerous business. The Wall
Street Daily Aews two months ago contained the
following:
We venture the following prediction for tho
benefit Of our readers. Within sixty days the
following prices will be reached:
Nsw yors Central U
Michigan Central a.. a.
III ia r
Snrnw:.i,rn n " .. - .. iii
Denver Rio Grande ................... u
And All other stocks a like decline. Preserve
this paper for future reference.
We preserved the paper for reference. June
10 was the time before which the terrible decline
,yas to occur. 1t is given to few men to see sixty
days ahead into the future of the stock market.
and evidently the l1'uu Street Duty Aslcs editor
is not one OF the few.
The following shows the range Of the active
stocks: