, 1881-05-08
BUSINESS.
Elevated Railroad Stocks Furnish
Wal! Street with Its Daily
Sensation.
Heavy Selling Of Western Union
"A Favorable Bank
Statement.
The Produce Markets Active, Except
in Pork and Mcats-Pro-
visions Weak.
Breadstrffs 1rregularly Easier-A
Good Shipping Demand for
Wheat and Corn.
FINANCIAL.

Elevated railroad stocks furnished Wall stree
! with its principal excitement 1t was given OIL
before the Board opened that Il pool had been
| formed to put VI, the stocks For once u point
was good, and put up they were 1t was uf-
nounceu later i'll the day that all the money had
! been provided to meet the July interest and
! dividends due from tho Manhattan- This stock
| went from :e.E to COX: New York L from 1Ui
! 10 ITO; and Metropolitan from IS to N3s:.
! Russell Saxo declares Manhattan to be the
| most valuable franchise i'll the country, and
says the stock will sell at 10 in short time.
Windsor Hotel oraclcs Friday night were full
Of points to puy Kansas s. Texas, indiana.
Bloomington s. Western, Ohio Central, Peoria s.
Decatur, aud Nashville j. Chattanooga. as to
the Inter, it was reported that tho old and tho
new pools had joined hands and would put up
the prico to l21. Tiilen is said to be buling
Union pucitic.
Foreign bankcrs are quoted as predicting an
advance Of u points in New York Central. They
report shipments Of large quantities Of tAnleri-
eau securities to Europe by yesterdays steam.
CTS destined for London, Amsterdam, paris and
Frankfort.
Iaussel! Sage says new Missouri Pacific stock,
after tho consolidation, will sell as high rs Chi
caso, Burlington s. Quincy.
. Pools in Kansas s. Texas and Texas Pacific
were actively ut work advancing prices. Kealix-
Ing sales were apparent in Lake Shore and Erie.
At the close prices weakened. us has become
usual on Saturday. on account Of sales to realize
profits.
Reports were in circulation that responsible
parties had offered to lease the Western Union,
and pay 81, ,oo10O0 per nnnum for it. This would
yicld over { per cent on tho capitaliza-
ton of Ssl0o0,ooo. Something like this
will very likely be done some day
with Western Union. When tho Mutual Union
has bcco1ne powerful and tlourishing company,
and both concerns arc paying heavy dividends.
Jay Gould will lease them both to some 1cle-
graphic Manhattan company.
Ii is intimatcd that there is Il short interest of
froul 80 000 to 10000 shares in Jersey Central and
pool has been formed, In which MIR. e. &.
Haven is said to be tho leading SPIRIT to takc
$1,000 shares end put tho price ultimately up
to 10.
Tho Chicago, St. Paul, Minneapolis & Omnhn
Railway Company has notified the Stock Ex-
change of ali intended issue of common aud pre-
ferred stock and bonds, i'll accordance with tho
terms Of consolidation. This new issue Of Sc
curitcs is to lay tho eutire road with steel rlis,
purchase additional equipment. erect new
dcpots and muchine-shops, and to place
the Coulpuny in i position to trans
act the prospective large increase in
its business. An amount Of bonds sufficient to
meet all the expenditures to bc made this year
understood. will pass into the treasury to
await future action. With tho timber tr,,1Ic ut
one eLd and The wheat traffic ut the other cud
of tho line it is possible that the development Of
the property may be such that tho stock not ex-
changed for connecting roaus will not he sold, bus
remain us IN asset subject to the future will of
the Shareholders The present issue makes the
total bonded debt about $4,000 per mile, and the
common stock equal ntnouQt.
AS an illustration OF the competition among in
vestors the Sun mentions that ut auc ton Th, rs
day Brooklyn City Gs, due in 1n:24, brought 1909
and interest, and Brooklyn .=, due in 1906, 1881;
and Interest Scarcely any New York City
bonds are offered for sale. but when they are
offered they bring prices atw hich they l,ilrely
net the purchaser an income Of ( per cent per
annu1n.
Chicago bank clearfngs were $500, 700 Loans |
were moderately active at 5D7 per cent New |
York exchange sold between banks ut 50lt0c |
per 81, ,0D premium.
Chicago. burlington s. Quincy As, $4,000, sold
ut aj'sGjaf; North Chicago City Railway Gs,
s5o,03o. at 1ll2sGll2. On the Chicago Stock
Board there were sales OF North Chicago City,
Railroad Gs. s:0D, at 1l11s; S:0p ut 111.a; $l500
1t 11lti; Western Division City Railroad U.s.
5000, ut l05ts; Wabash, St. Louis u Pacific IS,
IS coo, at l0iii.
The following were the clcarlngs for the week