The sun., 1873-08-13
FINANCIAL AND COMMERCIAL

- u
TUESDAY, Aug. 12-P. M.-The Pacific
Mail speculation continued the chief attraction
Of the Stock Exchange, and throughout the day
the fluctuations we're wide and frequent.
Opening at ~, IL rose quickly TO Els. but sub
sequently, under the pressure of realizing sales
on yesterdays purchases. the price broke to i0a..
with n rally TO ~, though in the late trade,
amid considerable excitement, 1t sold down to
39's, and closed at 10 to 40S.
The active speculation in this stock during
tho past few days has attracted considerable at
tentiun throughout the country, and has also
served to relieve Wall street of its extreme dull
ness; but the entire upward movement, now
practically ended, was based upon the very
natural timidity incident TO large short in
terest and not upon any improved condition
either Of the companys finances or their pros
pcctiye increased earnings. The entire daily
volume OF business In this stock, though COM
paTatively large, yet never assumed any such
proportions "a would indicate any important
movement beyond the speculations OF the day
or hour. The parties so successfully mlnipu-
lating the stock, however, have displayed a
shrowdness and versatility unusual in the sum
mer months. ana have fri ,,htened "A good num-
horot shorts into covering Jheir contracts. while
more have taken nycr On the upward tack,
ana ma themselves this afternoon consider
ably above tho market The usual street Rossip
about cheating empnu the pool was revived. but
to-morrow's operations will more fully deter
mine.
Tho remainder II tho so-called active list did
nnt Tesrnt ,any prominent feature hut Lake
shore. New York Central. Western linton, Rock
leland. and Ohios were depressed and generally
closed weak. Erie wls strong, and rose 10 i9'l
laul preferred W. hrn In tIlo morning trade NJ
73' fii b.. bua me mrctin. of directors was to-
DAY adjourned nutil Wednesday ~ l. O'clock
hecnu-c there Wa no qu rum. and At the close
only - was bid. Tine facts respecting the action
ot The directors last week in adinurninc until
to-oav, without declaring a3'p u cent. dividend
on the preferred stock. Wrrc fullv explained m
thtr' roluU n one wees ago. There were good
reasons tu,h stated why the company should
ret Im To- its Nll rule of au ann iul dividend OF
T. cont. In February. Instead - the J, - cent.
scul-lnnual iustal.ment- bur tho directors
would preserve the credit ~ the cOniNtnv IL
they declared the 3. Z cent. az the pre- ut time.
though they should also announce that after
the close of the h-'d wear. Attention. Is invited
g. the comparative table below Tor the extreme
Tho total number Of shares dealt in ,va4 only
2L.5i, II which Pacific Mail .repre-ented 2i,lOO;
Lake Snore; 702O; Western Union. i,On; Ohios,
2~H' New Npik Cen raj 3.D; Erie. 2,,nl; st.
Paul common, 10; the preferred, l.luu; Union
Pacltc l,@1; Harlem / lp1; G.. &. aud L. g.. 5Oo,
Wahash, bH; Delaware. Lgckawanna and West
ern, $50; Rock Island. 40; Northwest rn cow
mon, 500; and Atlantic and Pacific preferred,
The speculation in gold was very dun and un-
interesting until about p. VI, when, under the
Influence Of weak exchange, and AN Increased
realizing saies, aud the price WAS tnIs forced
down from llbi. TO li5is though there was a
surseIIrnt rally. with closing sales at ll5a. \
more active market will prouably be soon de-
vel'ped. and the subject Of the premium be-
{. iuc interesting.
In gold loans the rates paid fcr having bal
anccs carried ranged tium t. = cent, with
hnal negotiations at cent. nat, and ..
Inc total clearing, OF the cod tHtnange Bank were
tsA,<nM Eoid balances t,.Siu, aud currency bal
- i, ' 80 sp fe & 7 as Teay T. re4s'msS T r, ,'Y % ~, In
IrbAc debt Tue rh1c.pA! quotations ~ere:
ia5 A. AHu.i., MI. i.5ir 5 I3 HI.i3S RI RI 2 MN..ii'N N..iN
i.a5P,M.".ii5i 9i3P M.....ii5t So M.''.,.'..iis,.
cog rr.,ir's di'5. s5li. piSa'a,', 90, 81 8
auce sSiO .u9a5. custom. s0ilsv.
The Treasury o,lagces at the close ~ husres. 9.
IS a5o iscnsS. in Coin cc-, .sc,ic. ; '. @
ihr total cN rt u domestic produce currency - l.
" ~ 'Hi.1s , e .4,d'I d sn't1l,et t1f, i 40
Jan. amount To si.s-si, -. The imports Of specie
-for ". h4ne We dl! and wcaf oaavcry limited
Il Sa.in,,s ;or bi, t,. ~ ~; n "a; a.
e"u,es-'o.s ecre r.lde % !. cont. p" qu.'a'"n.
tis lhert vas lo celland. tAousA the oaerIn were
I'ne moi,l mirAet has eiven s,sus OF n,rlanins
A.."i .'iu hn"e tlt 60 y hrt9'.i' '4s ".rt
che ,ttern1.o tld. tber. VA. tcc.eiy ia.fe. iin
tAs at, ,usiis,s ihr me sudle6 Scti,. iu iI0n'
49, oyse5'e AZ. rno n iu e 'trg,, trls'e
., ytr ....4, J,t t,rc is rrosl4s oou,.c-
iisat : ra,c,' has pr,cusdiy 5c cc.s.d r1r me
t@lr lni-is Isl. tsh .tsl 90 tls r'ies for 'r" gpr.
'et-' Nhrh .nye a"y'G'ea i1'y ' cen. ,l'" p" .a.!
q. .trI ..'t t'.'. "n . a' 'siet class rer rolt
d, s... Gov,r-in at 6oa- arm, ar a.,ol.a.5.a, d
n,Tlc' + f'I s " 'eGurl,ic' , & va. v.r IN
PuIcais an4 also h.c'u.e ot .e havl..,- ~ gold.
Ao "a; ,l'ul an! t.iL1 ttH- ti.lr ui ln-