The New York herald., 1874-10-07
A FURRY in the Stock Market
Gains and Losses.
Rumors, Comments and Facts
Erie Again Heard From.
GOLD FIRM-MONEY STEADY
WALL STREET,
MONnAv nnt a % N ~a

u
common process they had been forced sharply
upward and there held until outside purchasers
came tn-as this class usually do, at or about the
TOP Oh the market-and then the original specu.
iators began to unload. The want OF sustaining
power was quickly felt and thus to-day, when a
more liberal selling movement took place. q de-
cine followed which IN few hours was equal to
the advance OF whole week.
COMMENTS AND RUMoBs.
the day was not without its excitement, there
Deing many rumors Of failure and predictions OF
disaster, but research was unattended by reward
In TINS direction, save IN q single instance, and
there Is really no good reason why such events
should be anticipated In the near future. Much
comment was INDUCED In concerning some large
London house which, IL was said, had succumbed
10 complications arising from the lnsurrection in
the Argentine Republic and consequent decline in
South American securities, but up TO q late hour
no names were mentioned publicly. The only
failure on the Stock Exchange was that Of Mr.. II.
A. Patterson, who gracefully announced to Pres-
dent Broadhead In brief letter. his
''nability to respond to differences growing
out OF puts and calls" Much sympathy
was expressed for the unfortunate gentleman;
but the failure itself was without effect In re-
sponse to an inquiry whether much short interest
had been created to-day the answer was in the
negative from various sources, and the decline OF
prices was attributed to anxiety on the part of
holders to realize while prices were yet good
GAINS AND LOSSES.
As compared With closing prices last night. the
gains and losses have been as follows:-
GAISs-Erie per cent; Harlem, x; Delaware,
Lackawanna and Western q.
LossEs-New York Central, k;C., G. andI. c., I;
Aannoal and ST. Joseph. 1; Lake Shore IL;
Northwest. common, y; ohio ana Mississippi, 4;
Wabash X; Union Pacific. X, and Western
THE RANGE OF PRICES
In the stock market was as follows western
Union opened at S0I, receded to 70 at tue first
board and TO 7Sx at the third board. 1t then
rallied and closed at 79X. Northwest, common,
sold at 3SA q 37H S7H, recovered to 3s1S and
ended at s7X. Lake Shore opened at s2h, rapidly
sold down to 80, and, at the second board, TO 79,
when there was o rally and close at soSs. Pacific
4sjl moved down from 4s% 70 Al aud closed at
AK. New York Central receded from l02 10 1OlA, 8.
but improved to 1918. Erie declined from 33X TO
83 but later, on the strength OF report that
loan OF S. 0oo 900 had been negotiated abroad and
that the German bankers were freely buying, ad-
vanced to 341s, ending at 34h. Wabash lost 4 per
cent in the days operations but rcgaIned 4 per
cent. before the close Union Pacific opened at
86K, sold down to 34H, and ended at 35h. The
highest OF c., G. and l. C. 1lH the lowest 9a<,
the cuse 10h. Panama was steady a, 11O1s ex
FIX. st. Paul at a3A SO a as1s at the close. The
remainder of the list will be found described in
the official list of sales.
MONEY.
The money market to-day was without change
call loans stin remaining at 215 per cent, with
tendency, however, to stIfen toward the close.
Foreign exchange was strong. The leading bank
ers advanced their rates to As6 for sixty days.
sterling and 4.S9 for demand with actual bust.
uess at 4.s5H and 4.S8K. Demand bulls were
nrmer than long sterling, and there was consider.
able inquiry ior cable transfers, all OF which is
quite natural in view Of the present everish feel
ing. Commercial bills continue scarce and were
quoted at ASK o 4.S4H.
was steady, opening at 1101S, advancing to 1104
ana showing some nrmness, but subsequently re-
cedng to 110h, at which it closed. The rates
paid for carrying and borrowing were l and per
cent. Loans were made fat.
OPERATIONS OF THE GOLD EXCHANGE BANK.
Cold balances. 81 $50 400
currency balances......... ............ l,49O,3l3
1IoSS ClearanceS ........-.....--.... Il, GOO
CLEARING HOUSE STATEMENT.
Currency exchanges. Ss2, 90S 1S4
currency balances. ACKNOWLEDGEMENTS. o,166. SOS
God exchanges. ACKNOWLEDGEMENTS. 4,4795l1
1oau UaiahCeS. oOI,S33
THE FOREIGN MARKET
London advices report that IL Is The general
England rate OF discount will be advanced on or
before Thursday next. The following is the latest
market port:-Consols, money. 92S 9216; con-
sols, account 92s a 92sS; old 1865 bonds, 10ss;
1867 bonds. 109}s; ten forty bonds 1915 1ves,
1042s lo41a; Erie 81 3lL. The market dull and
heavy. In Paris renteS were 62.10. In Frankfort
bonds OF 1852 declined. A London despatch dated
al 4:49 p N. states that sthe English stockholders
OF the Erie Railway Company held meeting here
to-day to hear the report OF the accountants
who for some time since have been investigating
the monetary and other affairs OF the company
The substance OF the report is to tie effect that
the two years. dividends of the preferred STOCK
ending september, 1873 had been properly de-
clared from the earnings Of the ROAD ana leaving
abalance applicable to the dividends of common
stock, and that when the last dividend was de-
clared on the common stock IL was warranted put
Tor the deficit OF ISL"
THE UNITED STATES TREASURY.
The Internal Revenue receipts to-day were
$150,00O. The national bank notes received for
demption amounted to Sl3l,0Oo. The Custom
House receipts were $415,oo0. The Treasury bal
ances in Washington as follows :-Currency,
SIS, 900; com, SIS, 100000; less coin certih-
Gates, $26 100000. The Assistant Treasurer to-day
paid out $4,000 account OF interest and
$4,000 in redemption OF five-twenty bonds.
RAILROAD BONDS
were fairly active and show the influence of
moderate investment demand. New York Gen.
tral first declined to 1o9k, and later rose to Ito.
Harlem first, sevens. coupon, fell OF to losk and
Ohio and Northwestern consolidated gold bonds to
3d. Delaware and Hudson 1rst, OF 1892. brought
104k; Long Dock bonds, 100; New Jersey Central
hrst new, LOG; Union Pacific first SIN and Albany
and Susquehanna, second, 100. Union Pacific sink
Ing funds advanced to a. Central Pacific bonds
closed at 90 q SO and Union Pacidcs s7% SIX for
hrsts, s4 IS for land grants and 7Ss "a for sink
ing iunds. sale OF c. G. and l. e. first reported
At u, against ~ yesterday. Toedo and wabash,
b. Louis division, was weak and declined to II.
Sales OF Ohio and Mississippi consolidated were
made at 81 93
GOVERNMENT RONDS