, 1881-03-16
BUSINESS.
Stocks Open Strong and Close
Weak.
UnihvOrnblo Reports About Dit-
icrcMt Stocks.
Chicago Finances Quiet--A Moderate
Currency Movement.
Tho Produce Markols Generally Strong, Alter
Rather Tame Opening.
Grain More Active-Provisiona Less
Freely offered.
FINANCIAL.

I4N AN S44Axs
Stocks nt the opening Of business were quIot,
but strong. Later In tho day transactions be-
cnlne lRrvcr, md 4 downward tendency 1T qul,-
tatlons WIS evident. Western Union wns put
dawn Al OIL report TINT m Injunction hasl been
'saucd agninst tho payment Of tho dividend.
f.aekawnnnn WIS dcprcssod by tho statement
thRt thorG would be no inerense of dividend, al,d
tho other coal stocks synip4thzcd with 1t.
Gould at one timo was sntd to bo buying Jersey
Central. for which he has an apparently lnsatube
appetite, aud Mt anothor to DO selling tho whole
list. bflchtgnn Central was posted us csriah to
mike bad statement for tho quarter. Money
WIS moro ncttye. but there was nothing litu
etrIngcncy. Just at tho cioso there was alIgllt
rnIly. caused by the covering OF the shorts, but
tho market closed woak. In Ch!cngo business
was very dull, almost no ono buying md worry
few selling short.
chesapeake & Ohio was noticeable Tor rt-
actionary lnovemout which took away tho gain
of tho day brfore.
NGw York hcnrs declare that tho reports lust
maho by Union Pacific and Western Union woro
cooked UP to mako good showing. Tho cnrc-
ful FTnanctA Chronicle says about Western
Union:
Western Union Telegraph stock has sold ex-
tlislicntl, anu tho Company has tcc)hrc Il 1unr-
terIy cnsh dividend OF IL per cent; tho iargo In
coi!p In this quarter against tho. small income
III ilt11t lNSQIAU4I JlUutE8 III I}SlOBtE{ NO
ve'nl,cr, md December Is calculated to excito
solnG comnlent iu vIow OF tho operations which
wero going OH, In tho Companys STOCK Mt tho
spcettvely issued.
Tho 0raM.fo Of Thursday bad tho following
editorial,
The drup'to was tho flrat newspaper IN tho
pTospe4ty, and 10 adviso It's reaars es to aot pus
tho bellof TINT values were certain to increase,
and that money was to DO madc By jndIr!ous
correctness of our % presnos.icst!ons, @ 49, and We
hayo tho satisfaction of Knowing TINT thousansls
Of & oSr y i, Feadsrs hsve pIol.od w then,: Me va
do not anticipate any sudden or general et,b of
tho tide. Hui. tho present moment Is I'm excel
might bo said absurdly hiRh. others nra Held ut
whit is probu0ly a sn,lnd and reasonable vatua-
say TINT thoy will not long remain so. Much Of
tho Rrcat a!lvanco which wo hnvc recntitly oxpo-
rISncc, is due to ioFc!Sn bnyIng e., Ths ay eo'', ~
coming frem liverpool lo NSw York, mud die
sinco Friday last Is largo enough 10 swaliow up
500 ,o09. Let no ono be atarmed; every ono
who hns bought Wisely md paid for bis pur-
iMps rcGchc.l It's highest limit, for tho present Mt
lcnst: It would not to bad thing II onr friends
should now tnko a rcst and count tholr money.
On Saturday unlisted securities, bid and askGi
stock, 1s50 to 100; Edison Orc Milling Company
Stock 10 to sO unltod States Electric Light COIN
pnny Atoch, zoo to 900; tho Ilrush Electric Light
Company Of New York stock. 100 to l60; tho Full
3er Electrical Light Company new stock, 70 to io
international hallway Construction Company
stock, e premium tu 10 premium; A,,eric9n
Hallway Construction Company. o. premium to
II premium; Intcr-stato Halfway Construction
Company, Is promtum to 3Opromunt; Rochester
stato Line first mortgage certificates. 85 to o.;
Des Molnea j. IT. Dodge preferred stock, III to ~;
DcB MOncE & IT. Dodge common stock, III to 70;
American Cnbio Company subscriptions feprcm-
fum to a5 premium: Atlantic, Mississippi T. Quo
stock, 10 to TO-; Now York Lonn & Improves
ment Company stock, 100 TO 1t3; Dro0klyn EIa-
vated Railroad first mortgage, Al to &c; Central
Now Jersey Land l. Improvement Company, rs
to rs: North River Construction Company Of o.
wv. Railroad rights, III premium to 2 premium.
Tho Financial Chronicle, ,,looking ut tho whulo
situation, is not surprised to find, beneath tho
Influences which datty gossip affords. All UNDER
tuno OF grnnt strength There would have been
n decided reaction III prices tho past week wero
1t not for this fact. but With money offering
freely, as 1t has been, evcn during tho prcsont
stringcncy, on CITY real estato, ats per cent for
n term Of years, stocks permanently paying y
ppr cent arp worth l60. Furthermore, this
plethora OF loanablo funds receives new ncccs-
s!ons from Europe evcry time our money mar
kot grows n llttlo stringent. Suppose to th[s,
then, wc add earnings on our railroads, which
givo promise OF ovon higher dividends, and ono
readily secs why tho oft-predlotcd panic Is not
rcallxol.
Tho outflow of money for April settlements,
according 10 the Now York Tribune, is tho only
cause at probnble depletion Of reserves In tho
stock market. From March 10, 1850, to April j,
tho Now York banks lost 81, ,25B, go In gold. and
<S0l 300 Ia currency. Into tho channels Of Cir
culntioh throughout tho country havn hccn
poured, during tho past year. not less than
1000 gold, 81. 7.500000 silver, and sSs 400 900
paper currency; In all npary S1G',o .0J0 1t
docs not Bccm pr0bane, therefore, that tho do
mand to supply any temporary wnnt In tho in-
tor!or will be ~ grcat as It was one year ngo
nut, TO provide against n possible outgo of
25u00, 600. tho banks hRvo ,0o, 600 In geld from
utroad already hero, <a.000.000 moro on tho way,
to be recctvci within week. and tho assurance
that tho Treasury will tako 100000 or 8l0,000.-
o0O moro Of bonds whenever occasion may arIse.
Tho following shows tho range of fluctuations
for tho day:
t!pt,t- Hiuh. Loiu-1 ftltt-