, 1881-06-26
BUSINESS.
Stocks Irregular, Uncertain, and
Dull.
Free Short Sales Of Michigan Central
Uni0n Pacific Holdings.
Increase in Manhattan Earnings-Fi-
nances in Chicago.
The Produce Markets Less Active-Wheat
and Lard Firmsr.
Fork Tamc-Corn Weak ea Spot aud Juae-0ats
FINANCIAL.

Immediate future Of stocks than in the the last
day OF two. Stocks hnvc been Irregular, uncer-
tain, and duft- There were FREQ sales of Michi-
gan Central by the public, who do not seem de-
TERED by the severe decline that has already
taken place from undertaking to deliver it ut
still lower prices. Northern I'ncftlc preferred
was active ut d lower range than on the day he
fore. Oregon Railway drppped to ITO, and re-
covered to Ill. There were no further develop
1ucnts aS to the plans Of the EttInrd pool.
The general tendency OF the market may per-
haps be accurately guessed IRON the behavior
of the Vuuderbilts and Southwestcrns, which
were liable to be most affected br the facts and
rumors used by tie bears. First rs to tho Vnn-
t1erbilts- Canada Southern, for which much
lower prices were predicted, and which declared
TO dividend ut ali. iosr for the day, closing Mt
69.1. against 10,z the day before. Michignn Gem
trail which WAS freely sold short by the bea rs
West und East, declined =, to 105N. Lake Shore,
which madc statement for the haif-year
showing surplus ot only $50 000, went otf y, to
is, and did not Sell below Ii Il. New York Cen
tral gained =, to 1ia.
These uulmportaut fluctuations occurred In
face OF the most depressing rumors us to
cutting OF rates. Information was sent out
early in the day that rates were pcing cut on
both east-bound aud west bound business, and
that passenger rates were being cut IS had boen
alreAdy announced III the railrnnd column Of
THE TRIBUNE. As to the Southwestern stocks,
although positive assertions were nude that
Southwestern business WIS being done at reduced
rates. and that q frce-for-u ull competition had
hegun, there was no decline in the stocks OF the
roads most deeply involved In such Il losing
game. Wabash common advanced from 5a!s to
SCI; the preferred was steady Ut 9ssss. Illinois
Central preferred made l. to llols~ st. Joe pre-
ferred advanced from 1liA to 1l4:s. Kansas s.
Texus w.ls Ii higher, ut 5O1l. The Tunderbl1tS
and Southwcsterus hud to bear nil tue brunt Of
the reports about rnte-cuttlny. Upon them, too,
was concentrated the bad news MS to the crops
That they have shown such strength In tile fuce
of such assaults is remarkable. 1t Is not calcu-
lated to give tho bears encouragement
Rumors we're repeated thAt Sage and Gould
are seeking, control Of the Elevated system.
Manhattan earnings increased the first three
weeks in juno So, ,U00, and Increased $4,000 In
the lasr five davs One of tho few serious luctll-
uuons yesterday was decline OF III in Metro
po.itan, to alz; The dividends due by the Nam
haitian Cumpnuy are payable July l. It was
rnmored In New York, and generally believed,
that Manbattsln had secured fluids with which
tn n,etr its dividend ot>f:sstions
1Tnio, p,c,f,c WIS remark k,bly steady. ranging
- ,.n,:. a ,,u,, trha t,ool-s ~ Tho t,,,,n
uet" eel t.4 @ aI- ~ ~, e r1.; ,1<., "a
pAny show that 1t1,Gou snaFeS VI Inns s1och a1e
held by five persons. MS follows: ". H. Vunder-
hin n mn. S J. TjI.len aaGOD: Oliver Atnes and
,;,a. =, nfa. ,,,, 1,;1}an II, en- Tho nrns-
ussoe''ttee' o''o'oF o41a 0'' , 80, r. r. ~
poets for nu advance III lnls stock arc sAlu u ~
rood.
The rrnneers were very firm. Northwestern
C., ,.,,, IN n ,n 1.H 81 Po,,l opcncd mt
co'n'l"n e" W -. :" ~ a,..-a 1so,sa - =. :
122a and closed at l@1'a. me extra issue VI 3D.
OjoO O10 prpposed will no1 it is said, be made ut
ra.o,t W,er,nshorer il strongly opposed to it.
I1ese" IN. aa., a,<>,s.. <h,,S.. -o,Is ,ra ,,,o,,
erop pt"7oee'S aos @As '.s,, .t'@. e.,
Ne" aoFh ao>'ee stn@.n l' o ~ 49, 80
no alarm. Ihe oest op't'lot's a3'ee 'nae tnere
Will W sI'4s44' 1S- -,