, 1881-03-03
BUSINESS.
Stocks Open Very Irregular and
Close Steady.
Wall Street Waiting for the Verdict
on the Funding Bill.
Curr cncy Growing Scarce in Cii~
cngo-Isorcfgn fsxclmngc.
Tho Produce Markets. Observation-Disclosures
Rather Weak, with Less Doing
Mhtat Easier In Spite NJ Sireng News-Ryt Al.
,aatiny-0lher craIH Quiet.
FINANCIAL,

y Now 0rlcnns within Hslan Df |. Rt bNll; North.
western preferred with l,ss Of l. Mt LHI;; Ohio
& Mississippi With KuIn Of ~, Mt t3.;. d'hcso
contradictions sufficiently Indicate tho yncll-
lifting views Of spectators and tho TN
certainly which rreya!lcl while tho Flnul-
Ing bill was unsettled. There was M
evident desire In Rotue quarters to sell stocks
nj every favorable opportunity, nnd prices
ytclllcd nm nvcrarc TT Or per cent, but a lnr4u
part nj the decline wns nftcrwnrd recovered. At
tho close tho market was atcna1y, th6,,Kt not o.
rcctaIly strong. The most diverse reports nl,o,lt
tie Funding tIll were IN circulation, md drove
operators this why and tint. kecne WIS ro-
ported TO bo selling tho whole list short. IndI-
r'ttioHs OF Tightening money wore Visible, At
tho close Of ln,asness tho prospect was very d.
ctlcd tlnt tho Funding bill was dcnd. 4
wide difference OF opinion existed Rs to tho cf-
feet nf the fa'ftlrc IN eilurt u Fnhdlur inv.
Even those who lr'lcvG tho first effect will bc IT.
pnt prices up think It's ultimate result wilt be
to deprcss tho markct severely. Prices have
been Kept up to their present level BY tho prom
lsc ot y per cent rclundlny. Tho 3pcr cent bonds
would have released II larRe amount at savings
TINT nrc i1ow being toartled III fact, tho failure
of tho u per cent bill nleuns contraction.
AlreHtly over $40 ,00OGO0 of oilr currency hnvo
Disappeared from sight since tho resumption Of
apecie payments, ntd tho lnboring elasses aro
ndtl!nR to their honrls every dug In default Of
investments thnt Mre attractive 10 them.
af[chfHnn Centrnl was attacked OIL tho grolir,d
that tho earnings showed II heavy decline. and
tllut the next dividend would no, he tml,, There
was Il bear rppprt 10 the elect TINT foreign
holders hall po!.i au,0OO shares Of Vanderbilt
stocks.
liufns Hutch RECALLS that Northwestern,
within three years, has sold ut III, ST, pnul Mt
and Missouri, Kntsns & Texas ut $l,0N a share.
Erie hls sold TIT $t0OD q sf,nre wthlu tho same
time. Jersey Central has sold at $3.50, and
within four yenrs ut 500 el,arp ard IL now In
tho j,nnds Of Il 1leccIver. Wntnsl, preferred
nnd common consolidated Within three yunrs
went at SlI.OO share, ind within four yenTs Mt
$A00 less thnu nothing, Us 1t sold Ut $oO0 after 10
pcr cent hal been called ,,p. Delaware & 1.ack-
uwnnna has maid Two dividends within four
years, aud Delaware g. Hudson none. Tho linn
nttal & st. .1oseph Najruad bus been snpwc,l In.
mud .!ltl.l't run train for weeks. IL Vanderbilt
cnn afford tn rcl New York Central nj In II
must DC good nnn who Gun a,Ioru TO Luy It at
141. We tlo not hrnr anythlnr uhont tho In.
ernnsrI earrIrpa mai En,u ,,ut ~. ,h Ia.
ntuety days, Yet before TINT We ha,l nl,nost n
,,ntty- schedule OF tho Increased earnings uub-
)Isbcd In nearly nil TIM urwsnnn,rx Parties WIN
are nuw advising the puhlo 10 Inv wcsfrr,,
Union ut tho prrscut prIcc were alvJsnu tho
street only few weeks nun .u scl, II NJ -"
The Impression thut Coud Itn,JIfutc,l a,ch
stocks rs he did not desire to hold before tho
decline Of lust week, vuins ground. Tho scnor
partncrur one OF tho prtnytpul ytogk ho,,sca suys,
Tho ,uurc stu,lv the slt,nt,on thn ,nnrc = r.,
convinced that ns n specuIntor Uou.l ,yns o,,t or
tho crush, Tho IntlIrntions nrc stroueIv In nm.
purt Of that y,cw."
The best the J}ey,bl houns for IL that tle ,nor.
KIT will slowly tend uuwurl ,yhIIe befuu a,,,,.
jsctcd In Its ntlyancs 10 frco,Irnt ont, cnrst"n,
setbncks, Unt.j thu Funding blIl hna 1ccn f,noi.
ly disposed Of md tue customary April sp,tlo.