, 1881-10-30
BUSINESS.
Stocks Strong, with the Wander.
.bilts in the Lead. ..
The Shorts Being Forced to Cover
and the Bulls Begin.
ming to Buy.
Money Easy, but Working Closer
Finances in Chicago.
lhe Produce Markets Rather Quiet at a Lower
Range-The Early Feeling Heavy,
But Firm Closing, Especially Oh Corn
and Provisions
FINANCIAL.

: BLOCKS opened and closed strong. The Wander
bliss us before renamed tho leaders at tho adj
vance, aud Michigan Central, Canada Southern,
and New York Central were the most active of
the list The Granger stocks and Northern Pa
cailc we're also i'll good demand. Little was done
III the coAlers{ Metropolitan WIS advanced to
:e'l, hut this was the result of manipulation
and not Of demand for the stock. oints for II
rise in Western Uuiou were put out, but the
stock did not show much vitality. At the higher
prices there was some realizing OF profits but
tue market closed Strong. The public are buy
Ing tritie more freely
Money WAS easy, but New York advices stated
that it was expected to work more closely
Among other reasons for expecting easy money
are large purchases of bonds by tho G Government
aud the probability that tho rush of money 10
tho interior and OF wheat to the centres is about
over, and that large return rc1nittanccs of
money will be .nadc by the country to the cities
\ better demand for bonds, I'm in creasin. dis
position to buy good stocks, prospects OF easier
money. n belief that the railroad war is ended
MS fur Us low rates go, the long period during
which the stock market has been poulidcd
by every adverse influence that coul.l
be brought to bear on 1t, AFRO some Of the rca-
sons which induce the bulls to think that tho
turning point Of the market has come, and that
it Is to be srstug market till after the first of
the year. But the bears are still unconvertel US
to majority OF. the list and are betting, for In
stance, that Lake Shore will sell at 10 before
the lst Of March.
The bears assert that Jay Gould Is at the bot
tom Of the advance IN the Vunderbilts. that ho
is putting them up and keep ping the Gould stocks
quiet to lnisfeal people rs to the real nature OF
tho movement, and make them think real bull
movement has beSun- Gould has the
credit OF being loaded with IN cnor-
lFf &pf oh hn had
expected to sell Inst summer and this
full. lie will now make every exerss,n to throw
off his load, and when he has succeeed in uoing
SO the hears think the public hud better look out
for smash. Gould is u wEecker, not ii builder
UP.
Among other r.l1nors Of the day was one that
the Erie crowd had been buying Michigan Cen
trail, and thut Russell Sage was actin. with them.
Michigan Central wits scarce, but not so scarce
as the day before.
Chicago, burlington s. Quincy rights sold ut
15:t.
4 New York dispatch described the market rs
in possession OF the bulls. who were forcing tho
shorts IN the Vanderbllts to cover.
- Washington atlricc5 state the surplus rove
nucs this month will be SlS,000,OU0.
Evidence that tho First NutlonnI Bauk OF New
York Is favored by the Treasury Departmental
Washington. at the expense Of Western banks,
was shown us by Il Chicago bank This bank
has received from the First National Bank Of
New York an extended per cent bond, dnted
Oct. %. 1881. This bond had evidently been
transferred ut that date for tho accommodation
OF the New York bank, Notwithstanding the fact
TINT it is the ayowed rule OF the depart
mcut that none OF these bonds shall be trans
ferrel for thirty days prior to Nov when the
interest is due The Very bank that received
the bond dated Oct - to (Which VIC refer, itself
forwarded a lot Of extended is to the dtpa-t-
ment for transfer one day too late. but forward
ed BY telegraph in time for tho transfer full
account of ull the details needed for entry. But
the Il apartment returned the whole lot and re-
fused to make the transfer. Aud yet, twenty
five days later, it was able to make tho trans
fer for the First National Bank OF New
York. II this bank enjoys such special
privileges in the public departments it evident
ly has 1. great advantage over other banks that
have to stand in Hne aud obey the rules This
matter needs explanation. Does the Treasury
Aure its pets? II SO, what are the prices OF ad~
mission to this select circle?
Chicago bank cicnriuss were. SG,3G50OD. For
the week they were ST. sG0, 6st against ~ .f
for the corresponding week Of list year. New
York exchange was par. and country orders Tor
currency were light. Loans were uusctcr at GI7
per cent.
Chicuso, Burlington s. Quincy Is sold ut 80:
West Town IS at 10.!z. Wabash IS at q, nnd st.
Paul is, Mineral Point. at o.
The following shows tho fluctuations OF the
active stocks: