The sun., 1872-07-09
FINANCIAL AND COMMERCIAL.

MONDAY, July S-P. M.-The operations
IN Wall street to-day were characterized by
considerable activity, and the buoyant feeling
with which the market closed on Saturday was
succeeded by n heavier and depressed tone. At
the opening there was an evident disposition on
the part Of holders to realize the late advance,
and brisk selling movement was further
accelerated by some heavy short sales for the
account OF prominent bears. The downward
tendency was also assisted by the sharp decline
Of Erie In the London market TO 45A046, as
against Il, the early quotation, under the intlu-
cnco Of which the price dropped In this Ex-
change from 80 to 65H. The remainder Of the
active llst-such as Pacific Mail, Northwestern
common, Lake Shore, Ohio and Mississippi, G.,
G. and I. c., Union Pacific, and Boston, Hartford
and ErleA- sympathized with the downward cur
rent though Pacific Mail was tho most active.
and nuctuated from T5S TO 73S, the Others above
named having ranged from y to ~ D cent.
lower. There was, however, a recovery Of To
III v cent. after the Second Board, and prices
were generally firm at the improvement during
the final hour Of dealings. though a feycrish and
unsettled feeling was observed IN street circles
lest the Erie election tomorrow would further
disturb the course Of the market
There have been no new developments to-day
respecting Erie, except that the chief managers
suit, and apparently await the morrow's expe-
rences with rs much doubt and apprehension
~ the merest novice In Wall street.
The following are said to be the Directors on
the new ticket, this list having been tclegraphed
TO London on Saturday:
T r. Blackston, Precedent, new; 4. 3. Dycn vice
barlow counsel old John 4. Dix old; ". b. Travers
odd Cisco % csaflc. " Day, ciS "a F. f. v Sch sssS
chardt. new John TAYLOR JohnstOne, n. -. Nor
Samuel Sam H'T D. babcock, &C ' new. new" u j. 0pnAn' nc"
The makeup OF the ticket shows considerable
haste, and would appear to have been sent from
this side In response to Inquiries from the Eng
lish stockholders us To the progress which had
been made. There are "A number on the ticket
who would probably decline any such position,
and We understand that several names were
used without the consent Of the parties. The
old, or, As they call themselves, the temporary
Directors, were In session a greater portion of
to-day, In consideration Of the question whether
the financial condition OF the company, which Is
acknowicdged TO be very uniaNorahle, should
be published for the benefit VI tue stockholders
Henry party were opposed u the publication at
this junctur,, but the final decision ~ the Board
on this subject has not yet been promulgated In
In reference To the probably successful candl-
dateS Tomorrow, those who should be best In
formed express themselves most In doubt and
ucrpleNcd. The simple fact Is that the tender of
the Presidents position has been made To nearly
every prominent railroad offcial I'm the country
ard for the past two months even while Gen.
SiCklos was making his arrangements To leave
so-called accredited representatives OF the
Bschonscheim and Goldsmidt party offer
ing the office SO freely in this city that no prom
listened for moment to their propositions.
The whole affair has been badly managed from
the outset and tomorrow will determine
whether a succession OF blunders Is a character
istic of English Stockholders whenever they at
tempt r. control AN American road.
There has been no change to note In the rates
for money, cali loans having ranged from To
Al There was Deserved d. an aSnndanee OF osnl
able funds, which were In excess of the require
ments of borrowers yet about y N the street
rate was run up 70 .. In discounts there was a
better trade, and prime commercial paper of
short date was In special demand. The rates
were froTa 5h to S. for nrst-class acceptances,
while exceptions were noted at and b cent
according 20 date Of maturity and the financial
standing Of the drawer
There was really no feature whatever IN the
gold market. The brokers complained Of the
lack of orders and passed the afternoon In frolic
other topics OF the day. The opening price was
ll5,s, and subsequent rally 20 1874 the
salos having been within this lmit-the final
pri. having been the opening figure.
I1e days Pu,igess a. The GYis L5ehangs Bank was
quotations;
aa1llsS alSS lsslS s r siIss SiiaS iFFSIIss r. S:::s
at The 4Ss isHs t Or s gSS SS; u s
s9g sod balance s. s;
o. IS balance y sj 'D''N'' p'' "'H' '''-
s ss9S9ES Sr rnEe h. SsT Sfs eSHfs & .nS
short sight. From these asking rates, however, con
cesslonh Of l6a for shn uld be deducted
There is scarcity Of bills Offering, aid the dt fOT
the patt two weeks has left the market quite deficient
In commercial bills
.,T9s Goyernnent bond market was trlale lower
at the early call, and the business of the
morning was comparauvely light bat at the
noon Board as also during the nna official
business trsdc became quite brisk with preference In
he dealings for ls6Ss. 1855, both old aud new and
1870 American securities In London wereteady at The
advance heretofore noted and nn tone pervAded the
days operations. Tie German bankers were liberal
purchasers at current figures, and, In the aggregate
picked up quite large amount.
Horny tiews Co, y Wall street, report NIPM