New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-08-14
MINING BOARD
MONDAY, Aug. 13-P. NJ.

In accordance with the programme OF the new Dear
party, foresbadowsd by the editorials of The Times,
vigorous and concentrated attack was made upon the
stock mar et this morning, and although during that
session of the Board the effect not important ex-
eept az against two three stocks it told more decld-
edy as the day passed of, resulting at length In the
afternoon in enabling the sellers to mark down prices
from to v cent below those current in the morning.
In some Stoke however there great frmness, and
for Hudson River Harlem, and Michigan Central, espe-
ciay the market was strong and well sustained during
the cay The rumor of an injunction to restrain the
n. Y. Central Railroad Co. from paying its dividend
was playe against that stock with some effect and
from S61 86I in the morning. prices were finally
knock, down to $50 in the afternoon. The decline ID
most decided in some of the Western shares which
have been rising very rapidly Of Late and In Enc ana
Michigan Southern common stock which have more OF
prospective than present value. There was nothing OF
panic charactern the fall during any part OF the cay
and throughout the transact was evident mat the
buls both inside and outside OF the Stock Exchange
were holding back TO buy at lower prices, upon the
supposition at the bear clique would unsetue the
market for time. The reaction comes upon
the market OPPORTUNITY, and is not unwe-
come to the hopeful but conservative oPer-
ators for the rise The basis Of improvement III
good railway stocks is sound and the speculation Tor
the rise violent as has been has been the most in-
sIlipent movement of the kind we have had at the
Stock Exchange for years. but bright as the prospects
are-prospects which promise to bring many roads
non dividend to dividendpaying they cannot sustain
sucb rapid advances without recoi. The reaction no"
running its course will act as healthy cheek 70
fierce speculation, and having exhausted itsef Will
leave the market stronger for the next upward
snrpe. Meantime an extensive short interest Is
rapidly being created, and this, in speculative
noint of view, s not unfavorable TO rising mar
ket when il settles upon the turning point Inc
bears have for the moment prices which have been
rushed up too fast, to work upon but on the other
hand success ion of stimulating facts must soon give
encouragement to those who believe 10 great revon-
ton in the market valae Of Railroad securities Inc
Bopd market is mistaken, and in some instances
higher prices were paid, although the business was
moderate State stocks were fraction lower. AT the
Second Board the business to fair extent az the
lower prices established and the market closed rather
heavy. Hudson River was the iirmest Stock on Tue
list and advanced per cent over morning quo'A'On'
Harlem Old and Preferred Shares were also frm Ine
closing prices were for: Tennessee Sixes 9o@'Vs'
Virginia 6s, 81 a9li; Missouri De, SiiGoi4 Yum
berlaDd vi. lO4dl; racine 'o"'S2i
York Central, s5l s5i Erie r. 26l o265i hudsot
River Railroad, 57ls5Si Harlem Railroad, l9t s"i
Do Railroad preferred, SOL a5oli Reading Railroad
46sa46l; Michigan Central Railroad, 66ieooii
Michigan Southern and Northern Indiana Railroad
2lIu2l2; Michigan Southern and Northern I'D
| Guaranteed, 46046Ij Panama Railroad, I2o0ISo
Illinois Central Railroad, Sl0s4 Galena and Cmcas'
Railroad, 7sis79i; Cleveland and Toledo Kairoad
45Ia45I; Chicago and Rock Island Railroad IS Goli
Chics 90, Burlington and Quincy Railroad, Soi @oo'
The market is dull for foreign bills with tendency
| of rates downward The Quotations are nominaily
before Sterling, 1904 a 1887 Francs 5loso.l4i.
Freights-To Liverpool-l, 200 bbls. Flour al 'S'
25 900 busb in bags at lO lOlc.i 60 hhds IauO~ %
priyate terms. To London-l 900 bbls. Flour al Do
Cd Is hhds Manufactured Tobacco at JOS. 10 nie
men-3O tuns Cedar. Wood at 25c. To Bris'oi-i'o'
| bbls Flour at IS. ,.,...
The business of the Sub-Treasury was; hecelP.'
1913, 297 s6-for Customs, $l3l ,ooo Payments s''
1877 81; Balance, $5,72O.69 46.