The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-09-02
FINANCIAL AND COMMERcIxL.

WEDNESDAY, sept. l-P. h.-The specu-
lation at the stock Exchange developed one OF
the most vigorously contested struggles be-
tween the bulls and bears which II has been our
province to chronicle In many months. The
feeling at the close on Tuesday was so decided
ly feverish and the numerous schemes to far
ther break the market were apparently so well
devised, that many were doubtful II the
naming bulls possessed the courage TO stem
the downward tide. Lake Shore and Western
Union were chosen as the chief points OF at
tack, and at the opening OF business large
blocks OF these stocks were whirled upon the
market with such abandon as to astonish or
binary operators, who prudently withdrew TO
await q less desperate speculation. The bulls,
however. were evidently well prepared for this
onslaught, and prices quickly rallied y v cent,
the FIRST nar,ed having risen from 5S[ to 5ek
and Western Union from TX to 7s&. Pacific
Mail and Northwestern also assisted In the up
ward course by rise OF q and Il respectively.
The contest, however, was renewed with greater
force at the INT call, during which time
Lake Shore fell N v cent. to 5sh,
and western Union 1 v cent to TN.
but before O'Clock there was a recovery
OF y Y cent. In the first named and Z in the
latter A third furious attack was made upon
both stocks at the second board, which carried
down, Lake Shore to 57'i, but Western Union
time recovering IL TO 5s, with late sales at ISL
Northwestern, st. Paul, Pacific Mail, and Rock
Island also rallied /, =, IL, and 81 y cent re-
spectively closing from = to better than the
TO %. Ohios were also stronger and closed at 10.
The rise IN the hnal transactions, however,
was chiefly due TO desire on the part Of the
bears to cover their contracts, but large short
interest Is still outstanding, and the fight VIII
doubtless be renewed IN the morning. San
Francisco advices reported the panic az pract-
callv ended, and elso confirmed Tuesdays de-
spatcbes that the Bank Of California would soon
resume. aud that the Merchants Exchange Gold
Bank would do so Immediately.
A. meeting OF the Western Union Directors
to-day, only routine business was discuss a, but
letter was received from the rcprcso ntativcs OF
the Atlantic and Pacific Telegraph declining to
favotablv entertain the proposition OF the for
mer to guarantee y cent. annual dividends on
the latter stock, based upon a capitalization OF
S2.5OOOO. This took the outside public by sur
prise, as II was well known that only few DAYS
ago the committees representing both interests
unanimously agreed TO consolidate on this basis.
=, The total number o. shares dealt in was e2s
Northwestern, .IiOS0; 81. Paul Ioo5c; the IRE,
Pacific, 1900: 0hios. S,sod; Norhwestefn pre-
ierred. 1900; Pacific OF Missouri. 800; Rock
pany. 800; Cleveland and Pittsburgh, SO; Deia-
ware Lnck awanna and Western. 300; Hannibal
ard and 81; Joseph 800 Nsw York Central S5e ;
Atlantic. and Paclnc preferred, 100; Consolda-
ton Coal, 100; NJ L. and N. Co., 100; the prefer
II
100 and 50. Louis, Kansas CITY and Northern
preferred, 100.
Tue gold market was less active and lower.
There was no ATTEMPT to renew the squeeze In
cash gold, though borrowers at times paid as
high A. LIZ for its use until tomorrow. The
movements OF the clique would seem to indi-
cate desire to further depress tue price, In or
der TO load up again for another rise. The open
ing sale was l14's but ~ soon declined to ll4T,
and huctuated subsequently between this figure
and llth, closing at tine lowest point. The mar
ket was also unfavorably ind Fenced bv Wash
ington adyices that the Secretary would issue
another call for bonds, tut the amount was not
made public until after the close OF business.
The call Is for S5.00.OOO Tor account OF the Syn
dictate. and Ss,OOo.OOO for the sinking fund, from
the Issue under acts OF June - and 20, 1854.
fhe following were the principal quotations.
1900 An ..lliA 1924 A. M"11ih 1l;2s A. " .1lps
1891 iSea 4 MMi Nit. i I8s 4 Mia. 1861 da Mil
i-Ss La. 2, 1, g. cent and nat and for carving
The total clearInss at the cold Exchange Rank were
1000 900 god balances. s2l2dll ana currency bal
The suoTrcasury redeemed tsas ooo IN called bonds
and PAID 90. 10 coin interest on te public debt
sioiS. $3.50, 40. balance, sS6 s.s7 currsaey re-
snee s6i os se5di Customs sss501o ssti 900 cai.
The bullion in the Bank OF Eng and decreas d
~. 90: The internal revenue receipts footed M
u national hank notes for redemption The Treasury
balance at ne ciose OF business f. weshington we're
,i700Oo com cert ncies The amour, Of legal tend
Sent Tor Ans. showed ee fp " SeSo state
Foreign caehlng was further reduced Sis5 and
H.S4ia@s4Sia. !, ana ti.s7'a@t4S7Sa.
the pat S ss tr,por.y spScsd CENT hpt
offered at eis q the close
Controlled tue operations consequent upOn weaker
god aud foreign tncaugc. coupon lSdss dropped to
ls3is res!stcfed6 1881. at l2U registered Is6Is At
II, ana reg siercl 1893 a. is0'4.