, 1881-05-14
Stimulating Effect Of Secretary Win.
dom's Extension Of the Five
Per Cents.
Demand for Investment Stocks
Activity In Wabash.
Foreign Exchange Strong-Fi-
nances at Chicago.
The Produte Markets Rather STEADY, Except that
Oats and Harley We're Weak.
Lard Active, Pork Dull, bul F1fmes-A Good
Business In Wheat and Corn.


FINANCIAL.
Stocks wcro stimulated by tho announcement |
Ut Secretary WEndon's policy for tho extension |
uf tho per cents. Investment stocks werc in 4
elrong hulnanu NIL day, md tho roncral cnt1ts |
tcnce showed itself Ia active ,enliuus, and ris.
ing prices for otors than the Strictly investment
securities.
Thuro was some bonrlsh talk A. tho Windsor |
ITote Tut 1t was not cnsy to sl[sc over ny othor
basis for Il than desire 10 keep UP tho short IT.
tcrcSt. An the Now yurk .ttarers cxtopt tho
World nrc bonristl.
New Yurk Ecntril md Itock Island wctc to-
tlcoabn Tor unusual ncuvtty. Operators bc-
levo TINT tho first ot those stocks will advance
10 100, nj which prco It pays por cent not.
The air Is fllI Of points OH Wabash, hath COM
mon auh prefcrrcd. wabush common Is pulnted
for ii to BO,
Thd rise III st. Joo oounlun was attributable
cntIrcly to cnlasthonEo oxcrotscs by tho bears,
un,lcr tho direction OF tho pool.
I4u market closGd flrm nt,d excited.
Will strict Is Keeping close watch Of tho for
Gigu exchangc quotations, which nro slowly rsa-
inGl toward tho sppcfe export point. All fcnr hns
vnn!shcd Of thp export Of gold In consequence
of tho roturn OF por cont bonds from Europe
that the holders wcra unwilling tn cx.
teml Mt NJ per cont. hut Secretary Windoms
cnII Tor IS opens atlnthor opportunity Tor the.re.
turn of t,ol1ds fnr Payment. II Mny laryo pro-
portion Of tho holders should refuse to tnkn tho
extension ht W per cont this country would
havc to sell thom othor flrst-enss securities Or
export gold. In tho present c0n1ldent mood OF
tho capitalist public OIL both sides OF tho At
llt,ttc, md with tho current demand for invcst-
n,unts, 1t Is extremely unlikely thAt there will
bu nny export OF gold from this country to
amount tt anything.
It WIS nIs,lln rltporcd Tint tho Telegraph suits
may bo Withdrawn nny ttay. Ex-0ov. Morgan IS
HI, tISy la Nn%vN Ns1rtr ,f hfhRr
prices fur tho now Western uninn stock. 1t will
soon 80 to par, he snss, md will not decline T:
per cent from its present price.
Tho Soncy- y-Sfartin purity talk OF 10 for Ohio
Central.
The confidence of capital TINT lends tn 81 blind
pools" III Now York Is at work nil over tho
world. Tho London Times says thut. according
10 correspordenco from Cormauy. tho advance
III securities generally ls thorU leading onco
more to the beginning Of q GrutltfatlV mania. As
yet, like the creation Of new Issues la EnHland,
| tho amounts Of money askud for nro not largo.
| and tho ISSUES do not Imply grent absorption
! OF cnpitA tnany OF thosn botnG Issues for tho
purchase at Industrial undertakings, which nrc
\ In this way converted into 50Ent-stock cOinpu-
MICS, but whcro the purchase noncy will prob.
| ubly 10 rciHvestcd by those WIN rGcefyo It. Tho
1 cxcess Of speculation In Paris bus long Decu
notod, nnd according to nll appearance, It Is
now likely to DO followed by similar excess In
many parts OF tao Conthoht- II HUI Also III oFcuL
Ilritun und Atnorica. as an Instance, 1t is to bo
noted thAt tho number Of electric light compa-
uIcs Ia constantly increasing, aad tho tra1s,.r.
tiops III thefr shurcs form u very considerable
proportion OF tho business dono IN unlisted Sc
| curitics. a,ost Ut ttoao shares command pre-
uli1f md some, like tho Edisun sell fnr several
times t.,oir pnr value Tho subscriptions to tho
mpst recently Organized company, tho Edison
| Illuminating, A!ft.ady couGunnd II premium Of II
10 ~ pcr cent. This company Is to Introduce and
furnish tho Edison ltrht in New York, md hns
alreutty bcguu tho work Of construction.
| Tia tInriI snys:
Tho market ts ut tho moment mt
teruiy benetlteA by tho Increase In
tho trts!e OF niafy roatsd Wnlen until fecentIy
WIN WIN y. 1e ~, s'nns W ,~afn nj.
vic:s fron tt1o West. stnte that al enormous
amount OF various descriptions OF freight has
l,ee,. accumu!ating for weeks. and that this
must fcsu!t ~ ,mssn n II ~ tne ,un
Ti,n "r.'as s,nsu no in mtiioy and tho steady en-
i,nI,Gotnei,t in tho prlcos OF 0ovcrnneht bouts
arc nlsn uxerstnK y married. Influence or rnl-
Wny sseMts, stlM,tE P,an,,g,t ~ n, LIZ
fo.ter,n.S snncniatton. Xsltie from tha fut tSnt
tic oi,ur.it1rs fur rlsu Include mon OH great
wcAlth, thore Is Il constantly increaAfn1 nuuioer
Or ultshe Apceu!Atnes, anu tnusn Mlses, ~ 9aa M
sIa"t ,sr"t frs,n, IN eoniroi Of nr,iinary
i0:,,l ,ntIilcnccs. It may Mt lenst nceount for
tho insignificant results Of tho rocens deter
Mltet efforts g dopfess ino prices ~ W.! ~
r!, Vt .av s".n aI., roanffn n tIc mnrsct
Ttn to,n.v,nr nr,, th,, co,nnnrorivo rnrn,nu n,
| tho (,hlau,o Mtlweuloe 4 n rnul 1lalirnnd