The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-22

The next sale was made at oSK. Il then went to
% and os, cash. and suddenly dropped TO 6k. regu-
lar Then IL bounded 70 o.. cash, and thus CON.
tinued 70 exhibit moro less OF freaks and nuctu.
atoms until the close Of the day. The average
difference between cash and regular stock was
stoned by the refusal OF the German bankers to
loan the stock. which necessarily forced the bears
to buy for cash and to sell 1t out regular.
) 1q rf THE RAPID FALL 4
OF the price to 6lK indicated that the corner had
produced no influence In London, and later ad-
vices by cable showed that the price there had
receded from 461 a. to 4oH. 1t was also an
nounced by ocean telegraph that the dispatches
sent from New York ON Saturday that stock was
scarce In this city, and otherwise concerning the
Erie corner, were disbeleved In London. Hence
the decline yonder from opening prices. Towards
the close OF the day considerable stock was bought
in "under the rule" at the stock Exchange. ana
for the time being, not only was considerable
EXCITEMENT GENERATED,
but very unanimous feeling manifested against
the attempt by the Germans to forcc 1900 shares
en- naasse In one lot with the possible intent OF
running the figures among the clouds. The Chair
man OF the Board proceeded to bid for the same,
and the price had risen to g. although lots OF 200
and 800 shares were being offered on the moor at
g. when the Indignation exhibited was very pro-
nounced, and numerous protests were made
against the purchase by the Chairman In the man
ner proposed. At last Q member managed to
secure hearing amid the confusion, and moved
that the stock be bought in lots the same as II had
been sold. The motion was enthusiastically car
ried, and the sale proceeded thereafter without tn
terruption
THE PRICE DECLINED
rapidly under the prompt conservative action OF
lA. aka
thus bought in under the rule. To add to the dis
oomature OF the parties, the fact was announced
that the steamer from Europe to-day brought an
instament OF 10, 900 shares OF Erie and more were
to arrive by the Cunard steamer due at this port
tomorrow. The price at this juncture dropped TO
cox. 1t reacted, however, In few minutes, and
the gong sounded the closing hour as the last sale
was recorded at g. 1t is impossible to say how
much OF the short interest yet remains uncovered,
but the transactions to-day would to indicate
that the pools were good deal like pair OF
shears. The two blades, in the one hand, simply
cut against each other. Erie was offered at 30,
seller 90; 81, seller 80. and 3d. seller 10 Gays. Tho
operations in the stock to-day amounted to $500.
In other features
THE STOCK MARKET
may be described as generally strong The best
evidence OF this Ia the volume transactions in
some Of theprncipal stocks, to wit:-OfC O., G. and
l. G. there were sold 2,4OO shares; of Northwest,
4,400; Of Lake Shore, $500; of New York Central.
1850; Of Ohio and Mississippi, $500; OF Pacific
Mail, 1d 200; OF Panama, 460o; Of Wabasb, $780, OF
Union Pacific, 1900, and Of Western Union, "a, 100
Erie, Pacific Man and Western Union shared the
chief honors OF the day. The last named stock
opened at COX, and at the first Board advanced to
Of a ok Q 91K o1%; then, In consequence OF a
somewhat feverish condition, provoked by the
manipulation OF Erie, receded TO 90x o
9OH, but at tho close recovered to
Of. Pacific Mail improved from 3sH
to 3d. and before twelve O'Clock. had risen through
oil or Its fractions 10 TO- when 1t also receded
slowly, and closed at soH. Northwestern opened
strong at 71k Tx, then went or to II, which
strength it maintained until nearly the close of the
day. when, on dull general business 1t called for
7OX o 7Ox. The preferred stock sold for 81 S3K.
New York Central sold at 104, 1887, l04h, 1045s q
1Oas&, closing firm at the latter figure. Lake Shore
was steady at 9ST o. with but slight fluctuations.
strong advance In this stock Ia confidently pre-
dicted Panama made the greatest rise Of the day.
moving from 1l6 to NIX with q reaction to 116
and o close at III. on Saturday tho price
was l13. Wabash advanced from Tx to
s3X. Rock Island ranged between the ex-
tremes OF lily 111X, closing at the
former figure. Ohio ana Mississippi showed o
variation Of only y per cent, opening at AK and
closing at Al. Union Pacific was likewise steady,
with range OF only about 4 per cent. St. Paul
varied 4 per cent from it's initial figure 5S1S. c.,
O. and l. G. sold up to Ssk, down to sSX and closed
at 33x. Harlem was firm at 129x 1905. New
Jersey Central closed at 1881. Chicago and Alton
sold 1o01k, Illinois Central at loe Hannibal and St.
Joseph at Al. The disturbing influences OF Erie
were not favorable to any Of the last during the
afternoon, and II an advance seemed acttcabe Il
was checked BY the events that have been de-
scribed. ,.la.a.
HIGHEST AND LOWEST PRICES.