New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-17

ding except that for the day there happens to be
No emand for New-York funds. The movement OF
rrain from the upper lake ports since January snow
= material decline from the movement OF the same
period of 1880. although last week alone shows
gain.
ulation that its grandeur of conception and execu-
ton was unequaled by the palmest days of the war
imitation Bnt while securities of uncertain and
questionable value were advancing from 10 to 20
per cent the better classes were Only steady. or
made only unimportant gains. The total business
In Government bonds at the Boards amounted only
to $420500 but their prices were firm. The action
of the Honse of Representatives ON Wednesday. in
adopting 8 per cent as the maximum rate for the
new refundng loan, was the cause of an advance OF
Ss0s per cent in the prices of the As and 4i2s Ihe
effect however was undoubtedly the result OF some
intricate manipulation, because the belief daily
grows more general that if the Refunding bill
with such q rate becomes law 1t Will
result In no refundinesfor the year of 1881 1t of
course ia possible that the general impression may
prove TO be incorrect but it is just as likely to be
correct as is the small majority in the House OF
Representatives which votes Is IL it Thought the
contrary. Again, we repeat, the present Demo-
cratic Congress will assume an unnecessary respon
yibility aud fasten upon itself unfortunate cam
pagn argument for future use If it ties the Treasury
Department to failure. Rather inconsistent with
the idea upon which the prices of the and 4s were
advanced. the redeemable 6s and 5s also were e
higher aud held their advance ct the end while the
new issues declined A0ss from their extreme adj
vance. State bonds were dull, but ruled pretty
steady Mt previous prices. Railroad bonds were
iuctuating, but generally firm. The chief specula-
tive movements were in c., @. and 1. C. incomes
which show q final gain of GIG per cent, Rome.
Watertown and Ogdensburg frsts up 8la per cent.
Missouri. Kansas and Texas up per cent, Lehlgh
and Wiikesbarre consols up 3i2 per cent and st.
Louis and Iron Mountain first incomes up 81 and
second incomes mp 10 per cent. The best class of
bonds commanded full figures and there is only here
and there speculative issue which shows any de-
Vine from week ago. and none with declines that
or. Of any Importance.
The stock speculation during the week was
simply immense and astonished the oldest inhabi-
tants. The recorded sales amount to 1907. 1852
shares, and an addition of another half million
shares probably will not make an amount in excess
of the actual transactions. Some days there were
sdozsn fluctuations, more or less. which were suti-
Gent to make or mar the fortunes of ordinary
operators Of Western Union, 4S1, 6S3 shares are
recorded as the business of the week-an amount
that is 10000 shares more than the capital stock
of the company The TRANSACTIONS in st. Paul stock
tai stock by $4,000 shares, those in Canada
Southern (16s,7S2 shares) by $4,000 shares. and
those in Hannibal and st. Joseph were $4,000
shares more than its capital' stock Three-fourths
of the capital stock of Union Pacific were traded
IN, one-haf of that of Pacific Mail, threeffths of
that of Ohio and Mississippi, and one-half Of that
of Erie. The great feature of the weeks specula-
ton, and the one which probably has caused more
losses, more heartburns and more ordinations
than any other speculation that ever occurred was
Western Union, which advanced 214 per cent
to 114l2 the price finally closing at 1888 The event
and its reported causes are too fresh in the minds
of readers to require repetition now but it may
be remarked that consolidation OF no consolidation
of the different telegraph interests, the great in
centive of the movement, from 7719 to its culmi-
mating figure, was the large short interest. That
interest now has been closed up with immense
LOSSES but these losses have disguised if not Grip
pied some of the best elements on the long" side
of the general market. The other telegraph stock
rose and fell with Western Union-American Union
rising from 1888 to SO, and ending at 9Oh. The
second feature of the week was st. Paul common
stock, which advanced from 112l2 to 12140121.
This advance following so closely after the telegraph
movement suggested the idea that the sufferers in the
one case disposed to return the compliment to
some of the leaders the telegraph movement. who
are supposed to be heavily short of ST. Paul. Canada
Southern was the third sensation of the
week. and its price from 73 to 80. and
only fell back to s0l2094ls after the report
that the road was to be leased to the
Central aud Hudson guarantee of per cent per
annum on It's stock was positively denied. But
while these great movements were in progress there
were others that attracted little attention except
from those who are chiefly interested. Chicago ST.
Louis and New-Orleans shows o final gain of Gig
Louisville, New-Albany and Chicago. o; Oregon
Railroad and Navigation, SIS; Ohio and Mississippi
AS; st. Paul and Duluth, d; and Iron Mountain,
6l4 per cent. Union Pacific toward the end of the
week, was specially strong and rose to 119340
1884, Reading danced up and down between 81
and TO- closing at "a. If it is true that the deferred
bond scheme is @ success, are at a loss to know
which to be astonished at-Mr Governs persuasive
abilities or the credulty of the subscribers At
the end of the week there were no indications of a
hesitation In the speculation other than those found
in the pace which had been 80 long maintained. Of
course it will stop time, but the market closed
strong.
The German.Amencan Insurance Company, of
New York In its statement, published in our adver
tisIng columns makes excellent showing of
assets the par value of which is 81 625000 but at
market valuation worth $3, 094 900. The company
reports net surplus, over allowance Tor contln-
gencies and capital, OF VI, 112O0O.
Tho receipts of -four and gram at the principal
Atlantic porte this 18th day OF January were:
Floor osl.. iSsST sss TITO S.Ss5
wheat. bu.n ..... ........ $500 seeS0 1890 5000
Ssla SusS @ 1850 300 500 $500
rye busa.; ............... a;1;x l70 500 ;.an
E r:sss su:s is ssSSS Sass $500 4s9SS
The following were the receipts and shipments at