, 1881-01-09
BUSINESS.
Stocks Open Strong, and Con.
tinue So-Signs Of Mal1ip.
ulation.
Money Easier ~ Chicago Begins to
= Ship Currency to New
':.:' :. =, York. ,:>
Growing Local Demand for Sc"
curities Foreign Ex-
change. -.
The Produce Markets Less Aotive-P1o-
visions Steady, and Rather .. p
Firm.
Grain and Hogs stionger-l> Decidedly Better Tons
in Wheat and Corn.
Grain and Hogs strenger-i Decidedly Better Tons
in Wheat and Corn.


FINANCIAL.
Stocks were very strong at the opening, and
continued so all day. Western Union advanced
with only insignificant reactions until 1t reached
94. At the close IT was lower, at 93A, an ad-
vance OF 2H for the day. The advance for this
week has taken tpe smaller bears entirely ~
SURPRISE and some OF them have been dread
fully punished. Some: of the larger bears are
still wirhsranding the rise, and proclaim tf1at
they mean to leave their sales uncovered unt1l
the stock goes back to GO. Whether the original
bears have got out no one knows, but those who
ought to know insist TINT they have not yet done
SO, Altogether the movement in Western Union
is extremely battling, md especially dangerous
to short -winded spectators or. investors. The
comparative steadiness of American Union IS
taken as sign that the original shorts have not
covered. II their purpose had been accom-
pllshed, and the deal in Western Union were
played to the end, American Union, it is argued.
would advance. Some OF the New York brokers
think that the same clfQues are managing the
rise in Western Union and the rest OF the
market, and they have theory that
it Is done for the purpose OF selling
stocks preparatory to another break, In
which Western Union, reversing Its recent
course, will lead the market down. This Is the
theory. What 1t Is worth one can tell as well as
another. The pending rise In stocks Is regarded
by some US ehufe's arelAe'al "na.o otuoAo ." .anA
it TO be the beginning OF new boom. Those
OF the laeter way u " 3ems pun. W -us ~
ABOUT money tna1 cams apout u1e ni.uueu ~
November anu 'ne eau.onai9 e'suaAa ..as ~ :. =,
causes that prevented le2itimately active
demand for stocks. This demand has been
held down. and is now beginning to
make alselI leit 1ae 'aaoais ooo w.
not anticipateo tney ao'ot ou1 10 s.1n ~
come. ms IS tne We" u 'ae uu.s'ue-s'
the insiders are oeafs ano ate no'o'ne A!n-
mense sums OF cash reaoy 70 oa1ter tae ma11es
with the moment tney stse "eaA spo1"
Goal STOCKS we're very stroug, tuouRa ~ 1ne
close they yielded 1facuon. 1ne o1'e1Renco
OF views about tae market 1s 10 DC seen as
plainly IN the coaf stocRs as e!se"hefe' Az
cording to one s9t, the rise IS Que TO man1pn1a
uon. and Hudson, for instance, Is being pnsned
up to enable the pools m LacSa"anna ana
Jersey Central to sell QUE. BUT On tne otaer
SIDE Us held sna1 the coal companies nave oc-
fore them i've years or prosperity at least;
that this Is Tie only group OF s1ocks tna'
has not gone back to the ante-panlc pr1-
ces; that their coal Is now as good as cash; tnat
In short, they are cheap. we see mere me az,
ference Of views which divides wall street. one
side thinks that considering the abundance OF
capital md the prospects Of business, stocks are
cheap. The other Side can see nothing cheap.
Like Jay Gould. they are prophesying panic.
and have put their money into the bank to walt
for it.
- One Of the agencies In yesterdays rise was the
circulation Of reports that the per cent He
funding bill would pass at once Those who
speculate on the probability Of the immediate
passage Of per cent bill run great rlsk-
At the close the Granger stocks gave signs OF
joining In the upward move.
There were few losses Alton declined IL, to
15sA; Burlington & Quincy, III to $50: Manhat-
tan y, to Us; Northern Pacific preferred II. to
66A; Denver & Rio Grande i, to 81 Every"
thing else advanced.
Government bonds were active. In Chicago,