, 1881-07-23
M cnll nIltl tfts t,rr cent On ttin. Nrw York
exchange WIS su!d ut HA' per 3. l.0UU discount.


NEW rtlIt,t.
Special I,tspaeh I" 7hs t'hteisu 7ttbnns+
NHw rO,tK, July :.....--Un tho Slnek Excl,nngo
tilo speculation was depressed It, tone. and tho
temporary strenRtl, impartial 10 tho market
ycstrrtny aervr.. nnly rs tho lRs.s For re.
newnl pf the llosvnwnrrt lnovetnent In rrtcGs.
Tho shares which displayed most wraknras
werc Metropolitan md New Yurk Elevated,
Western NUuion, and ct. rnul. It wns
currently reported, nnd the statement cos'ics
from entirely rclaable sources. TINT tho Hoard OF
Directors ut the st. Paul Company Mt ll.olr n,cot
!nw yesterday authorized tho Issue Uf m adtlt-
tiU,,al fs,NA00U al bonds, to Do devoted tO tho
construction U additional lines Of ruIl.
rontts. Tho rua'l IL nlrcndy very heartily
bonded, md It IL hnrily possible that steh OK
pnfslun BY nt,y .lnv1p rnIrtM,,i aystetn ran bp
j,AtiNcu oven sit,ster tho most favorable lltnu-
cial conditions. On tho contrary, however, Il Is
n wcll-known tnpt TINT tic Co,npuy has not
cnrncd unp-hulf its liked charges
for tho Arst ak months Of tho
current yenr, md TINT tho net earnings for
the taa1,cc of the year viii hnvc tn reach
tho sum oE $3,gONU to pay tho intoroAt
Oh Its bondei Indebtedness. 1t docs not,
therefore, sccnl H very wise policy tn In.
crcase its i'nat,cihl obligations Mt II period like
tho present, when Ilmlnishcd crops must neccs.
sartly largely decrease tho trsIG Of tho roa and
lessen tho receipts nor docs tho condition Of
tho general raIroad syetoHn Of tho country
nt0rl a vory l'rulntsllB outlook. Any i'n!no-
dato arrangement t'ctwccn tho trunk line
mannKors nrpchrs hs hopeless rs ever. allu this
Ia nHnR 10 tho nbnrM1Rt condition of tho grain
and prp1uce innrxets rnthor than to ntiythlng
else. Thu bad crop reports nra no lnHRer to 10
disputed. nnl havu 10 niYcutcA tho Western grain
tnnrkuts that tha high prices now curront forbid
shipments cxcupt ut tho lowest cut rates.
Tho course Ut speculation to"t'ny was decidedly
| crr,lle. In tue carly dealings there WINS do
n
tht Flrst 4soar1i NY recovery of Il 10 III per
cunt, III. fatlt tcading In both fnstnhccs
During tho aftcrnout' tho market octan,n
heavy, md prices declined stcntlily utltil after
tue sccoiast i'ohrd, Melfopoltthn Esesateu so1lfg
utf W.. Mcthphis & Charleston a's' Feorsa' ue-
ehtur u E'll''svillu =. and tho general list y
to la per ecnt,-the Inter IN st. RAUL
| ChtcnEo. Huntington Quincy was or
| cepuonhlly stflnss anu rose " 1'et cont
On the transactions OF tho day. III the tate
tioalings tho Hoiscrnl LIST reeovcroa a fraction.
but tho market closed fcrcrlsh uni unsettled III
sono.
There IS no Charge n tho money n'arkot, . - tho
rsesai'ng characteristic bcins caso. Guy lnans
TN plt1Kp1 df pCccptnble stock collateral
snngcu between aHG, psr cent, and
% bond. ns " sosar,ty nss loaas @ ss wero otrcatea e
ssSst p.r rec cent, % una prime % mercantile paper At
"1! per comt. ,. -. -..,:
ThestcrlnH exchnngo market wns weak ana
a1 3s Sa foq ssxr s a .sS sGsu for emsa
1,an ~ ,vnr,, t,,,, sna ,ha
vas .1nu"r,.,v ,ss"s -, ,oo t,,s.., I I,nr,SnrJ
| & Eric lrst rtccdcd from 10 to 53h, and re-
turned tn e0 Kn,,x,,s & 'rexus seconds rnse fro,,
~ to sIa and roaetcd 70 s1h' do Rcnsral o. 9,
advanced from VI to WA ai'd closed Ut "
lsonc. Water'own os'tsasburz .' consolidated Us J.! M