, 1881-09-29
Manhattan and Its Dfvilent1s-Finnuccs
In Cllcago.
The Produce Markets AUTHORIZATIONS
Firm Early, but Weak Afterwards,
Though Hogs We're Highet,
Corn, Oats, md Ilyc nlgher-A 11ttIs Settling
Back Ia lfheat-Lnkc Frtights tls Lowest
Ever kaaxn.


Stocks showed ltttlg life. Tho rntcs for n,oney
werc tho principal influence at wurk OIL rric/..
At ono hour thoro WIS premium of 1.:e Ut |
per cent, but Ut tho close tho rate foil 10 pcr
cent. The bears wcro said To bu fnrnlentarlty
supporting the market, and selling by tue
cMlurs was dotcutcd Michigan Central was
wcnk, hit Afterwards recovered. New York
ccntrl and f,tku Shore luAtto fractional l0ases.
Nanhnttnn was stimulated from 2lA to Gli,
closing Rt :s,!4, by tho Hcws Of tho deris-
Ion tnnt tho cotnrany might issuc ccrtit.
entes fur tho dividends 1t owes tho Nav yurk
Elevated and Metropolitan. Burlington 4
Quincy lost u, 10 1n0.s, Notwithstanding tho fnct
that tho meeting ~ Chicago WIS entirely har-
,ndn!oss and completely under tho control Of
the boston party. wbn held proxies for moro ttnn
two-th!t4!s tho whole number Ut shnrcs. No
new rMnors nl'out tho railroad war wGr0 III
circulation, an1 tho competition between tho
rnads hns ceased nppnrer,tty to te matter os
my concern TO tut apecttntinn pnhllc. Will
street ,iaa nnver tnkou a serious view Of tho
rntlroah wnr. Wabash ulnkcs II good exhibit of
Increased earnings, bit dues Ilut Entn IN price.
CoAl stocks wer. not MS nctlrr ~ tho tthy hc.
Cnro. Ontnriu {; Western advanced from :'lsi to
:s},a oil account nf the favorable Interpretation
pnt IN tho arrangement win tho. New York,
Wost Shore & ts,ralo Road, as first announced
fit THIS TREnusE.
At tic close tho market wAs stca,ly. although
at towcr prlces thnn tho day hhforu.
Wnblsh earnings increased ssl.0O0 Tor tho ilrst
fbFce weeks OF September, and kins18 & Vcxns
S74.00D In tho snniu time.
According to Tom Scutt tho only trlio tost Of
the value or rnIlyoal property WAS It's earning
capacity rSr mile. The following table, cN.n-
piled from tho lntcst published earnings OF sey-
eral promlnont Western md Southern rouds,
Rhow!nX their gross earnings prr nile tiuri,l9 tho
first eight months Of ths yuar, 1uny 10 found
Interesting:
sss t X" As t; Pr t ss. Es ~: sc II sl r. e.; @ III
HyMFsl svsr liz s;raa c tsE.'5S fossss 7 rs TIL
ss H%$% 5 ii'aS's saai'a' , 'sS
Chemical Isank tNuw York; sharas hnyu lately
gone up to sl.7so bid, This is tho highest guosn
ton for uny bunk stock III tho frof3d. THO
Rochester Democrat relates TINT sixty yonrs ngo
John Mason originated tho schemeuf tnanufact-
ur.ng chom!cals, and was deeply disappointed
whun 1t proved II fnll,tre. Thp experiment sunk
s1t0o. which III thnse days VIVA ctI,lal to $100o.-
OOO at tho present tl,ne. AN apparent mtsfurt.
une. however, Often proves a rc,,l benefit. AZ
WIS tho cnsu In this unsuccessful enterprise.
Tho latter hull IL bunkIp9 privilege which slason
determined to turn to account. lIe al,an-
doncI tho chem!cni scheme, but continued
tho hanktng privilege. Tho cnpltal was only
$4,000 but under good management 1t hns ac-
eutnulntcl surplus Of s4,Dou, coo, which Is uct-
lively ut work. Tho result Is dividends NJ ad prr
cent per quarter and tho present astonishing
quotations. John Mason wAs tho dry-XDOtls
colossus Of his day, and LETT n urge FORTUNE.
His nephew, john Q. Jones, was President OF tho
Chemical Bank for fortg years. Ho died recent
iy in n x0ol old age. leaving nn estate worth
E. 0UD, most OF which hnd Ieor tnatto by t,uy-
| ing business piper, In which h0 was III expert.
| Jones saw Chrnllcnt snnrcs reach Sl.UN, which
some considered tho extreme Of tholr possible
T11rr tftrn hfY1Nr I'm