, 1881-07-03
BUSINESS.
Stocks Show Remarkable Strength-No
Symptoms Of Panic.
Belief that After the Holidays the
Market Will Be Stronger.
FINANCIAL.

| In the face OF the news that the head OF the
| Government had been shot nud probably fatally
| wounded stocks displayed remarkable strength.
! Trnusacuons were enormous. .rimid holders
sold freely truna the beginning, the bears made
great sales of short stock, dispatches were sent
cut in every direction predicting panic, and the
| bunk statement was bad III spite Of all these
| depressing circumstances, there was no panic,
In tho active list there were but Ave stocks that
lost as much us ut the lowest point ofx.lepres-
sion- These were Tcxas Pacific. which dropped
So. to 60; Central Pacific 81, to 9.5t: St Joe
preferred 5E. to Ill; St. Paul 81, to H.; aud
Kansas s. Texas 81, to 49, These stocks mado
handsome recoverics, Kansas L. Texas closed
ut AK. st. Paul at 1s24, ST. Joe at lis, Central
Pacific at VI. and Texas Pacific ut G3a;. Com
pairing closing quotations with those Of the day
before, there is no stock TINT shows a loss of i
points, and there are comparatively few that
have gone or as much as 3. Illinois Central
lost BY. Louisville s. Nashville 3X, Reading Jss.
Northwestern jez, Union Pacific 31, Texas
Pacific 81, Northern Pacific ~, the
uraferrcd ~, Missouri pacihc 3x. Lake
Erie s. Western 3'z, St. Louis l. San
Francisco g. the preferred 81, Ohio Centrut
g. Peoria, Decatur & Evansville ~, Milwaukee,
Lake Shore s. Western 8. The other changes
were smaller and not important. At the close
tho market showed considerable activity, There
were no signs of general alarm, and it was felt
thllt the worst was over
What operators most feared was that the news
would set European holders OF American stocks
to selling. ind that the market would not bc
able to take all their offerings. Up to the close
OF business no unfayorable symptoms showed
themselves in the London market
Chicago operators bought more stocks than
they sold. There was nor a large volume of
business done by our operators, but their pur-
chascs are estimated at twice their sales.
Less effect WAS produced In tho stock market
by the terrible event OF yesterday thAn by tho
contraction Ut Nationat-bunk currency in op-
position to the 81 per cent Kefundiug bill. THIS
ended in the disaster Of gray Friday, Feb. Is,
1ss1 which was. .howevcr,spc recovered from.
AS far AS Wall street could think in the great
excitement of yesterday it saw that what had
happened was more political than financial
The most important point is that the assasina-
nOn was not done by a conspiracy against the
Government. The stability Of our institutions
is not threatened By Me1icanza ton.
Neither this assassination nor that Of
President Lincoln was The work Of faction.
Both these crimes wero personal, not factioual.
This all-important point being clear, the holders
OF United States bonds and other securities here
and abroad will see that nothing has happened
which need impair confidence in the value of
their property. A few holders Of Government
bonds sold ut slight sacrifice III Chicugo yestcr-
day. but they were not many. AS stated above,
there were more buyers than sellers of
stocks. Two days elapse before b,lsi-
ness Is resumed on. the New York Stock EN-
change. This will give time for excitement to
pass away, and 1t is estimated by those bost
competent to judge that the market on Tues
day, though perhaps it will BIZ. feyerlsh+ is not
likely to be Affected by any great pressure of
stocks for sale Confidence III the future will
be helped by the knowledge that Arthur is as
6oc,nred with very conservative men il the Re-
publican party Of New York City who have
great property interests, and will not allow any
footing with the financial policy Of the Govern
1nent. The political effects OF what bus hap
peued will be much more serious than tho duau-
cial. The Government is !, corporation, and
will live though individuals die.
The following show the range Of the active