The sun., 1873-05-19
ErSlNcI<L AxD COMMERCIAL.

SATURDAY, May 17-P. M.-The advance
IN the Bank OF England discount rate from to
o. v cent. was the controlling influence In Wall
street TO-DAY, and the stock market consequent
ly opened weak and lower, while gold was active
and higher. This action on the part Of the gov
ernors Of the bank had been for some days anti
cipated, and tho effect therefore upon our mar
kcts was In a degree previously discounted; the
general steadincss OF the London market also,
as the day wore on, having given assurances that
no new disturbing element had appeared. The
stock market, however, was heavy and depressed
ON the Hrst flush of early European advices,
which was more fully developed ut the first
session of tho board and also in the sub
sequent TRANSACTIONS. until about I +. VI. the
lowest prices Of the day were established, the
general market nftcrward becoming less active,
md in a majority OF the stocks positively
dull The favorable bank statement however,
added 20 general desire on the part Uf the
shorts to cover their speculative contracts at a
flattering profit, caused turn in the speculative
current. and in the final hour of business tho
entire list OF leading shares was arttNo and
buoyent. the hghcst figures having been rc-
corded near tho close. Western Union repre-
sentcd the larger trade. and opened at SIS, but
sold down qucAly 20 si's after which u assumed
more strength, with rise to $50 From this
point 1t weakened to 49,, but subsequently nd
vanced to Sa, and closed at Si'.. Pacific Mail
thus Afforded ample oppor,unities Tor losses or
profits according to the versatility OF the specu
atOrs in their attempts Mt following the current.
Lake Shore dropred TO SsS, hut subsequently
touching % reacted y p cent. to lo1t. BE-
aides the above, the activc stocks were Ohios
Ffie, Union Pacific, c.. C. and ]. c., and Rock
Island. Lhc extreme fluctuations IN which will
be found In the compaTative table annexed.
The total number OF shares de ait In amounted
to 1861. of which Western IniUn represented
Bpn: Lake Shore, A.3ja; Pacific Mall, 2l,HD
n. Y. Central, 1850; Erie, 1s4an; Union Pacific.
l,hO; Ohios, $50; G., &. aud ]. { 6.bl0; Rock
island 5,aU; 81. Parl 800; Hannibal and 81
Joseph, iUl; Wabash, SDi; Harlem, 5OO; Della
ware. Lackawanna ard Western. 4C0; Panama.
i(0; Boston, Hartford and Erie, 80. North
western common. Ne: Atlantic aud Pacific pre-
ic-rcd, ~; -. Paul preferred, ;D'; and quick
silver la.
The gold mark e was very actlve and excited
In the early trade. with large purchase both Tor
speculative account as well "a to cover short
/ contracts; the heavy TRANSACTIONS having been
I induced, H. al -eady alluded u, 10y the advance
! in tie discount rate Of the Bank Of ENGLAND.
/ The advance in foreign tAchuns" al O stimulnted
an upward movement. - tl1t the price quickly
rose from lis at the opening to liz. It remain
i'll AZ li3A and IL until after 2.lj /. NJ, when
uuuCr the inlurutr uf free sales OF long gold
] tue % arAct he. ita,cd. and Gc'lincd quicoly %
llS. with losing salc~ tt III .. In gold loans the
I r.ic- paid for having balances o.rri. d rdu;cd
/ from Il to- = cent. and -ub~cqucu4V ftom . z
cent. tuT imlu 'liate dcii'try g. 3. with tua nc
/ got3t. ~ a. .hd p cent. The total olyarine'
az ihr Gold TX h,ace II lk were SGttHVr; /;
gold balances. l,ii -; and currency haiauces,
So, n.I: fae gross tlrliiu i,r tine week hay-
p ir. ecu moderate. aud accounting 30 s,i-u.'li.
81 Toe Su.-lrcn. 'irV pa'c oit today IN coin
4 interest on th" public dtut. .uitst and fur tht
week. Sl2ll.U0, whi b, Ni,h Irctlous dishur o.
U.s. I.l., fIr tU.H' lttfI.t .HH N,t
date s. ~r. h., B. l... ru 80. ln ,H
fpr tnr wee. ,9 10. wing tlr same ttir 900
cD.a g. ca .u' .-I"'. nae .oDo"tAs ",.o ulr