The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-09-11
xINANcIA1 am covMnRcr.t1.

FRIDAY, Sept. 10-P. M.-There was a
very active speculation In both stocks and gold.
the former submitting To decline Of = to :
q cent, and closing fcvcrsh and unsettled,
while the latter assumed great strength, ana
advanced / q cent. to III. At the opening Of
buencss at the stock Exchange Eric became
conspicuous by sales at lgf., against 10 At the
close on Thursday but und r the influence Of a
pressure OF stock there was a quick decline 10
1877, though from this poiht the German bankers
bought largely, and the price soon rallied TO
1872. Large blocks Of Western Union, Lake
Shore Pacific Mail, and Northwestern were at
the same time thrown upon the market, and
meanwhile the gold premium was moved up 10y
it, clique from ll5's To llG's the loaning rate
for the use Of gold having been established No
o l6 Il u cent. per diem. Small holders II
stocks became alarmed at this sudden squeeze
In gold, and commenced To sell their ventures
without much regard to cost Western Union
dropping from 81 to i0a, Lake Shore from
57'l TO BOA, seller three Pacific Mail Yield
ing = 2 cent. to $40, and Northwestern,
3 TO 3qA Erie lost its power over the market,
aad could MT Withstand the pressure Of sales,
the rice suddenly declining to Isl, though
there was subsequent rally 70 1917, fresh
attack was made unOn tins stock ~ the second
board, which carried down the figures TO lSA,
with final transactions nj ls's, the downward
movement having been accelerated ny decline
In the London quotations from 1874 to l7dl7H.
Fl. Paul fell OH A q cent. To 80 the preferred 4
u G}A Ohios, TO l1il but New \ Ork Central
was strong at l0j and Panama rose = q cent.
10 lil, both stocks closing at the higher
Dsurcs. Atlantic and Pacific Telegraph sold az
2l1a, and Atlantic and Pacific preferred declined
= q cent, to IL. In Rock Island, Hannibal ana
St.Joseph, Fort Wayne, Harlem, and Wabash
there were no recorded TT nsactons. Union Pa
cIhc oponed at i3A, fell on to 727. and closed 1t
i3A. The directors Of this company have de-
Cllred dividend Of n cent, PAYABLE Oct. |,
the books closing sept. is, and rcopenng Oct.
q. The directors Of the Western Union Tele-
graph Company have declared a quarterly diy-
dend to-day also OF = y cent, payable Oct. 10.
The book VIII close at +. NJ, sept 70 'nd 10
Teopcncd Oct. 49,
The sudden change in the course Of specula-
tiOn at the stock Exchange was the chief topic
OF conversation In Wall street circles. The
bears, having failed to create a panic over he
san Francisco disasters, very odtoitly brought
fresh assistance to their programme by large
purchases OF gold, and the chief mannulatOrs
Of Erie, Lake Shore ana Western Union To- day.
The scarcity Of cash gOld-a large mercantile
short interest-addcd 10 the fact that the recent
transfers to California by the Treasury Depart
ment had locked up about $260O,OOO Of bullion,
afforded a tempting opportunity for profit IN tho
gold market, even If the raids on stocks should
not succeed. The first important demonstra-
tion in this new line Of tactics was made to-day
and the programme Will doubtless be repeated
on Saturday
The total number OF shares dealt in was 1G0-
OBJ, Of which Erie represented $3.50 Lake Shore,
37.i5; Western Union, 27,GO; Pacific Mail, H.,
$500; Pacific OF Missouri, loo -. Paul pre-
ferred, 800; Panama, SH; Union Pacific, 200;
Northwestern preferred, o. Atlantic and Pa
ellie preferred, 5OOi CONSOLIDATION Coa ~ Del
Central, POS; Quickslyer 200; the preferred,
100; 81 Louis, Kansas CITY and Northern pre-
ferred, 200; New York Central, lS g., O. and ].
C 100 n. L. and NJ. Co. preferred, lVVi ST. LouA