The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-11
FINANCIAL AND cOMuERcI4L.

FRIDAY, March l0-P. M.-The OPERA
tions in the stock market developed fresh i'm
pulse, and prices took upward turn Of y to
ga u cent, with the exception OF Pacific Mail
which seemed TO be still under the harrow; all
oil the other prominent speciaties having re-
corded positive and well defined Improvement.
The early speculation, however. was strong,
and many Of the leading operators on the
bear side having been confused by tho
course OF prices, took occasion, and as
events Justified, very wisely covered their
short contracts. At the first board a
sharp attack upon Pacific Mail. which
carried down this favogite from e.. 10
@OA. temporarily checked the buoyancy In the
otter shares; but this WAS more than compen-
stated In the later transactions. The great rally
INK point OF the market WAS Erie, which though
attracting some attention ut the start did not
display any special features of interest until
after the first call, when on numerous confident
iniluences II began TO change the current of
speculation, and subsequently, shot up from
Ia 10 2l1, buyer b at which figure il
closed. rhe whole street rushed to this
specially. and too late ascertuiued limit the FIR
eign brokers had been heavy buyers In London
on Information that the Lehigh and Delaware
Lackawann and " estern Companies had offer
Ell helping hand IN the form OF third rails.
Some OF the prominent street spectators who
appear to have received earlier advices took oc-
casion TO buy for turn. and this fact greatly
assisted ~ whirln: M the price. In addition.
to complete the movement, came telegraphic
huN.ces from Albany, that some favorable reor-
GinlZltlon pil was certain of p .ssing both
branches OF tho LEGISLATURE, while beneath the
whole were the supporters OF we'll known
names.
The strength OF Lake shore, which rallied
from biA to eos IN the final dcnliN.s. put the
nnlshlng touch upon the huoy1nCY OF tie M r
Bet, ana the bears went nome DISCOURAGED. 81.
Paul, on "a showing OF Increased earnings OF
about 5W1 for toe first week. In March. u.s. COM
pred Gitn the same period Of last year. took m
upward irde OF = q cent. Tor the common TO
~, while the preferred was | u cent. higher at
e.t. The AOrthwosterns, IN partial SYM
rlthy' were = bettcr, and Rock Isl
and moved no to Ill, and Ohios alao.
winch earlier in the day sold at 2OA..
closed at ga, while New York Central was Il
the same time strong al llG76. Pacific OF Mis-
sour moved M again - II, and Illinois Central
advanced to lWi lho above shares represented
the current of the market, though Michigan
Central attracted some attention at So k6L and
Union Pdclhc ranged az 0S's igBi .ldbS. New
Jersey Central was weak ut lO6 4, and New Jer-
sey Southern recorded sales OF 1900 shares at l,
which was l II cent. more than IL is probably
worth. The general market, however, closed
strong aud buOyant, but whether Its strength
Will be maintained ia "A subject more prudeutly
left for future consideration.
The total numoer OF shares dealt In was 2l7,-
1888, OF which Erie represented 6e.375 Lake
Shore, $3.50; Pacific Mail. il,l0O; Western
Union, 2i,5li; st. Paul, $500; the preferred,
AGO; Michigan Central, 39O6; Ohios, 2,tOO
Union Pacific, 900; New Jersey Southern, 1890;
Northwestern, s,sOoi the preferred, wv Ro"i