, 1881-11-01
PUSIN.ESS
Stocks Opened Strong, but Closed
Lower.
Adverse Influence Of Tight Money
and tho Newark bank
Failure.
Chicago Banks Sending Money
to New York.
The Produce Markets 1rregu1ar-A Fair
Business in Provinious, and
Steady Closing.
Grain Higher Early, bnt t'laSta Weae. Though
Torn 'ias In tood Demand for This
aRa Aext Month.

Torn ,yas In Cooh Demand for This
ana Sext Nonllt.
FINANCIAL.
stocks opened stronH and for time carried
oiIt tho prtInlsc Of the firm clrsnq of last week.
Elht It wns nor Dng bclpro rrnllxatiOns hnti a
growing tlghtnnss Of inoney hcGnn tn bnve n uc-
rrcssrg effect uIt stocks Towlrtls tho Inst hour
cisne st,e .lrws f thu failure Gf tho Mechanics
National 1}nnk OF Sewark, which was innRnlflrt!,
t!Il w!cu II rractcl la sAllr Rtrcrt tho failure
wis reported To lW that nt tho First Nnttonh'
Hunk ut New York. Unslcr this dlscouraglnR
rD.nhlultton Of Influences tho market close.l
wcnk.
Interest in Will street rOse To Ill Of per
cent II day premium. This WAS he1iovctl to ho
the result of manipulation rnoru than of nny
Eehtllslu pressure for 1nn< accommodation.
HIT It Ia nIsu believed by tho bears to Indicate
downward movement for some days. II tho
u,atIpulntors hive tho power to put tho r1.tc
for money to lilo, they ct curry It to Il and Il,
mud will almost certainly do SO.
Michigan Crutrnl, nceart,ng 10 conservative
New yurls utlvGe5 Is not cur1lcred. Tho s1i'ilo
authority stntos that tho stuck II not worth
what 1t Is selling fur. .na tho recent alv"ncc Is
attributable solely 10 tho purchases nf titnid
SHIRTS. II IN not generally xnuwr TINT the Sl0,-
hN!kW uf tho bonds OIL tho mNtn limo Of tue
MlchlK,u Ccntrnt ,re convertible intn stock.
Vanderbilt, acrprs!sng to street task, was scii-
Tito nervous pnrs OF tho short Interest Is
nlout closed out.
Tllo Financial Clrnnicle, Is It's 1,trestora SHlI
,Jr,nc,t rr f,r.,,,er u,,acs II cn,uultst,n show.
ir,- rim ,1,nirr m ,nt,ra nf rn.tr,s .nlrent,y
u,",ortnl,rn mr. f,,r which tl,e n,t,,ry hs lec,
provided un1 to he built during tho period fritn
Uct. l. 1871. to 1rc. ILL., 1sS. 1t st1ltcs tho NUM-
cnst Mt s:aI; uy}xX, l,ur II docs NOT think TINT
f,cc,,,sc ,hs rt,or,no,,, totn Ia to ho invested In
! tn,lrnnds tho cnuntry nrnd la ,nlnrmcd. Tnts
incu,ec.
m IN ,87a wo wcro cxnnu,lc,1 In every Ill.
rcc,lop AuI covered nll uycr with debt:
sll,ce then We haye been doing llttln but
tcuidulHo anu illn1oAta nuf uuoss pFNn.HIi III
1 Inn tt,nsr ~ XII Scr,.,i i,at ttnns fhms released,
it'd new allvi,,gs thus secured, remain to ho In
vested or reinyGEsed; q there fs now no nn'
nsl nssr!nl : ~ III ,,n.,,,ntfnn u
~ .p III, " n;,,tw yit II. i,uini nnro uf nropu
untl uuw facilities for GrculilsgI wealth, ire n,id-
ing 10 or eupltnl tnore rnpiti y than over b.
!o,e, r ~ ~ s' ~, ~ ~ "1 nvn,.tvn ~ ann
VII ~ .r uu"aj ~ mir nt,t, ~, t,nt,s s,vinus fur
iho wt,Hic cn,,ntry nf xlUJoOOJ0; ID tnay Fir
ropr IL holding tar less Ut cur nuchtednnss thAn
for 1l,nliy yours atid Eoou seeurios WI nlWMSs
~ NV rI ,s!t tban ma ,naw ~ MIR nav ntnr.
| nrisss viii b. uf Tint description.
| The uint1 Of lty construction company which
ia -, h,it tno nrw roud nruIrctca 10 run be-
tween ClncIpnntI md baltimore is u marvel Of
Nnunrteruu. Thls construction company Is to
eulscr,bo tu t,uilt! thu rut,d, which will
r stuckeu AM, buudr1 for ,OsN, lntf stock
and half lpnds. From proceeds ut tho buEtls
the construction comrany Will be paid back Its
*lOoO0OO0 nt,u EEyou tho Saa ono stock. or, ns
Mr. Could hlundty puts 1t, they Will 9ot sJl OO0,
ON In dividends. It took twenty yours to COIN.
plutg tho Uult,moeo s. Ohio, md tho Chesapeake
l. tlalo bus been thirty-llyv years ut work aud
tho en-, IL not yet. eumo t,lca Of tic possible
character Of tho echosue .p,ly he gathered FROM
tho fuet TINT tho story Of tho proposed UNDER
4 tuknv appeared exclusively in tho HDri4 nows-
paner. Ihere hus bucu little loyo lost bctweet,
twn t,reo rutlruud ,ntorcsts s!ucc cortan cou-
tructs wurc mndo by tho Mutual Union Tcle-
urapn Co1npuny. mud slnco tho Ohio s. ylIssis.
atont stack hoturs' u,cctiu9,
In New York the Herald says that commission
VI