The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-10-18
rINANcT.iA AND coMMERcIIH.

SATURDAY, oct lG--P. M.-The volume
OF business At the Stock Exchange was limited,
and the only stocks winch commanded atten-
ton were Lake Shore aud Western Union, the
remainder Of the lit having been practic lily
neglected, though Pacific Mail Northwestern.
Michigan Central, Erie and 81. Paul, for a time,
showed some evidences Of speculative activity,
Lake Shore was the pivot OF the market,
and the stimulus impaired TO this stock
by the covering. II few prominent
operators. the chief OF whom closed mis- con-
tracts bee use Of necessary absence for few
weeks. gave more strength to Its dealings than
would otherwise have been noted. Ii Is well
known that Commodore Vanderbilt and his
friends sold out the bulk of their holdings some
months ago and there have been no Indications
Of his buying back. Until this IL done, outsid-
efs vii, not he likely to purchase what the Pres
ident Of the road has thrown overheard.
tender Of the New York Central. from
which the latter has taken the Hons share Of
the through Teceipts. The large decrease In the
earnings Of the road during the past year pre-
clufes the idea Of any dividends being paid f0r
"A long period, and investors consequently class
this stock among such non-dividend paving tan
Giles as Northwestern, Erie. Hannibal and ST. 30
seph, and 81. Paul. Inc shrinkaRe 10 values since
the panic OF 1873 and the general deureca-
tion OF 'ilroad mortgages, have forced holders
into the market with their unpro1ta able wares,
the proceeds OF which have neen invested In
such securities as insure "A fair income. This
VIII explain why nearly the entire capital STOCK
OF this company Is at present lodged in Wall
street. Western Union was also buoyed up by
local manipulation and advanced TO AZ, but
the sellers were more numerous at the
close than buyers, which explains the weakness
in the final dealings, when II sold down to 40
the lowest point o. the day. Northeastern, st.
Paul, Pacific Mail, Union Pacific, and Erie were
also weak in the late trade, as viii be observed
hy reference to the comparative table below.
Michigan Central was exceptionally strong.
The operations in gold were characterized by
considera' L. activity and the shorts covered I'M
DER the stimulus Of \ If q cent. exactions
for the use Of cash gold until Monday. 1t was
observed, however, that those specul tors who
engineered the squeeze were literal sellers,
though the price rose from ll614 at the opening
TO III, hut It closed At 1877.
Inc iohO~lng we're the principal quotations;
1000 A. M.,..1l64 logo A. M..1lGaSI 1880 M1l7
1902 A. M...lioli 100 A. NJ ii65s 500 r. LOG
~ SAT- ls li' a ana fPG ne c Saf Of gold were r.
The days business al the United States suDTreasury
s35is de- balahce' sidiii275.is currency receipts
~ ~ ls93g 90 paimeots G5,oood' do. balance.
,l ne lreasury BALANCES az the close Of business in
t7o5ooo0c including si2 10000 eoa ccrtincaes' ''4'
a. sS S "a Sr na a 1ae ass SIIe ad
The expcit, O. specie Tor tne week footed up sGos.
7 ana snce Jan. &63Oj0 7l3, as against ti3S59S71
currency non. for week ending Tuesday last
wee a h7io7 and since I'm tl00 ISL iO7 against
OF dry goods including general merchandise, gold val.
Sr AID ID SssH JAZZ o Sm Ss an 80
$1,000 33l same time last year and s32s1 $50 In
week. cuastNlse anu by RAN 10 Ted up 13l435 bales,
Rnl the number eNpor,e ed vas 90 ds2.
Money "a e easy on cal 4 2les3 cent. Discounts
The weekly exhibit Of the associated banks was
10 the total reserve, against decrease OF tlA57O In
d aS aS ose week ct I 49, ana ana NV
consequently nov hold on Sj7OO,VOO In excess OF the
Government bonds continued in active request. the
9en nSaann1 9 S.sp1n 1872 new having oeen promnept
The following were the . L. NJ. closing prices: