The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-11-16
r5NAScT1L AND COMMERCIAL.

MONDAY, Nov. lb-P. M.-1he VOluHc Oh |
business at the stock Exchange was moderate
hut the interest attaching to the Pacific Mail
and Panama Railroad imuroglo lost none Of it,
significance. At the opening this stock Orop-
ped from 40 to 99A under the pressure of sales
10y some OF the bears, who threw overheard
about 1900 shares, but IT subsequently rose TO
407s under the influence Of purchases by shorts
whose MARGINS had unfortunately been ex-
hausted. After this demand ceased the price
yielded to l0i, with closing sales at 4OH. The
proposition VI the Panama Railroad committee
to issue first mortgage bonds to the extent OF
sIUDlNcO very naturally depressed this stock,
and les we e made az low as l2g, against oter-
ings Of 1876 on Saturday. The latest previously re-
corded sales we're ON Thursday AZ 1914. Western |
Uni n was con picuuus because Of it, strength.
having advanced 4 q cent. to 49,, chiefly |
on the covering Of shorts vino became alarmed |
hy tho advancing tendency vi the IL uket. st. |
Paul rose - to 31H, and the preferred To o. |
while Il the same time Northwe tern was = ]
cent. better at 80 .. amt the preferred rallied =
toH Oaios were strong at an advance OF = t. !
1875, but Union Pacific was fever.sh, advan ing /
at the opening from 13i5 to "a, then dropping to
~, and afterward recovering To the early
figure. BAT Ing at IA. HANNIBAL ana 81.
Joseph took an upward turn Of ~ q cent. to
2jit, but Erie was weak aud sold down 2 to l5h.
eltwate, Llckawannh and Western reflected
more than usual transactions, and rose q cent.
to l2l, with 49, 0llqN quotations at the close.
Tie Producers Consolidated Land and Petro-
eum Company further advanced Y cent. TO
92il, and United states Express sold up to 30.
The cause Of the recent advance In the price OF
the latter IL due more especially TO the CO that
| the freight ot this COMPANY over the b,ie roe1
| is now rried on express tr ins Instead 81 The
| local convey auces. and AN increase OF business
has resulted. In the late trade the general mar
kct paftaily reacted, IN consequence ~ rrHllHl-
tons az the advance. tadcd TO private ie. gI1,h3
! by cable that panic existed on tue LONDON ana
| Paiis Exchanges ~ Contibont securities. IN
Atlantic and Pacific referred there were no
| trans tctiOus. We lie lrn from AN int iiEchl
source that the recent surtender Of the lease "
tie Missouri Pacific by thc u !ard ui directors OF
! the Atlantic aud Pacific iiailrOad Company i
| regarded by tue Circuit Court Of Missouri as
| Illegal, which VIII cxliain the action ~ Judge
| Treat. he lease was originally cunhiincd by
| the stockholders Of both companies, ahd uhtll
this Is annuled, an annual oolisation nmount-
| me TO $4,000 rental il required 81 the Atlantic
aud Pacific, winch, Ia its present financial con-
| dition, cannot bc met. The road has alsJ been
| placed in the hands of recciyor.
Tho total number Of shares dealt In amounted
! to laG.JiU, Of which Pacific Mai represented j,.-
sal; western Union. s11i3; Northwestern; H.,
80: the preferred, 3ltO; unios. 4.S0; Etc
! e.i5J; Lake Shore. sos; Cuion RACINE o.Gs
| ST. Paul, 800; the preferred, 2,400; liannib
and s.. Joseph, $50; lie Preferred. ~: D,la-
ware, l.ackawanna and Westerl, Loo; NicliEdh
Central, ga; Iniiei Statea l.pre.s, CO. ltlc>
Island, JJ1: New Nor6 Central. 3,e, p.n m =,
81 New jersey. 20; g., sud l. c., 80; P.cib
OF Missouri 30: Producers C.nsniiI hed L.Uu
iiinI.son CinaI, 70. q v'and aud ri;tsugfgh,
10; Atlantic and racih. ieiesrauh, -; Aiean'
and St-,l, hanna. iO0; Font " u,ne. 10 lllnois
Central. 1Do and American ExWoss,@ 20
The gold market VIE active, "a. IL dechniuc
quot atoms. The business dcN. lupcd strictly
brokers market. the price openi q. a. .. AMI
selling down II iiih. nut cl's'n. IL, llt q. lie
Tor $500 0of tue lstani 1860 ssue. c..,eel
| a. one time "a free selling movement, when VIII
| explain tho decline. addcl L. rrrsr-- tuat TIC
secret nv would coon place tbs Ss0OOJ,o.o of ~
pr cents upon tnc i.iA.s't. -