, 1881-09-18
BUSINESS.
stocks Open Steady, Closing
with a Relapse.
humor that the Railroad War Was
settled-Western Union.
h1arket' Depressed by Bad News
About the President.
ihe Produce Markets Less Active, and
steadier-Provis;ons Easier, Ex.
cept Meats.
Corn Rather Weak, Hheal aud Oats Tended
Downward in Sympathy.
FINANCIAL.

STOCKS opened stcady, but with concessions
OIL the Granger stocks, Wabash, Union Pacific
nnd Denver. Subsequently ruu,ur thut the
railroad war lad been settled wins put into cir
culation. This had just enough respectabiiity
| III Its parentase to give the market Il decided
up turn. 1t wns promptly denea. but tho
| deniai was qualified by the statement that,
though not settled, the war was In stage
where it might be brought to In end ut Il mo-
fnent's notice But when it was added to this that
the other roads were waiting for Vanderbilt tc
MAKE the concessions, hopes Of peace died away
again. This disappointment and tho bad news
nbout tho President gave the market II down
ward movement Mt the end, and it closed at only
d fractional Improvement over the lowest prices
OF the dny.
Insiders appeared to he marketing their West
erl Union. butit was also reported that those
who sold at 81 were buying, land that there were
Other good buyers
Pullman WAS l3O bid and 135 askel The rights
were bid and asked.
DR.. Noryin Green insists that the earnings OF
the Western Union are larger than the sum re-
Nuired for tho payment of the dividends and
liked charges. He says: - The dividend receipts
from companies which We control are as legit-
fmately revenues OF the company as IL the diyi-
dcnds were paid in money. We have sold stock
OF these companies; but today we hold more
stock in them than at the time Of the last an
nual statement; more than at tho time of the
consolidation, and more than at the time OF
taking testimony iii the Injunction suits. More
over. their market value is greater now than ut
any Of these times. that the assets Of this COM
pany have absolutely Increased since the last
ANIMAL report was made. The earnings Of the
company for actuai telegraph business have
been for two mouths Of this quarter ut the rate
of 10 per cent year. nnd for the whole quarter
will exceed probably per cent year"
Michigan Central. it is claimed in New, York,
will show net earnings Ut $500,o0o less than for
the corresponding quarter Of last year. In other
words, the company is running behind Sl5o,00oa
month. and wilt be about $1o0,OD behind its
fixed charges. Lake Shore is said not to have
earned more than $300, COO net for tho quarter.
The approximate earnings Of the st. Paul,
Minnesota g. Manitoba Railway for the first week
i'll September were $IIJ,1I1-nn increase over
last yeAr Of $5S,Sl4. The Union Pacific earnings
for the first thirteen days OF September were
sl.l&,, 9rs- incrense of S266, Sn The earnings
Of the Texas & Pacific Hallway Company for the
first week OF September we're S7l6Si-an in
crease Of Sl0,3;0. The earnings Of the Missouri
Pacific Railway Company tor the first week in
September we're $751; l,5eG-an increase Of $4',s2
The Toledo, Deiphos s. burlington earnings for
the first week in September were Sli,s571-an in
crease Of SIC, ,s20-aud for the month of August
S65.22:6-an increase of So, ,0s1. The Missouri
Pacific gross earnings for the quarter ending
Sept, 80 were 1866. Ss4, and the net earnings
$3.50 e34: the surplus, after dividend OF III per
cent, carried over to the next quarter, is $1,0a5-
G95 The earnings Of the Missouri, Kansas j.
Texas Railway Company for the first week or
September were sl5s. .743-an increase Of S3S 40.
The following shows the fluctuations Of the
active stocks: