The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-29
FIYANCIAA AND COMMERCIAL.

FRIDAY, July 28-P. M.-The specula-
tion at the Stock Exchange started OF with
good degree Of confidence, and under the lead
ofsbip Of Lake Shore, which moved w steadily
to 1914, assisted b. rally In Western Union
from 0gN to T0n, buyer 3, the shorts in Della
ware Lackawanna aud Western and Michigan
Central commenced covering their contracts.
Tho market, however, responded too quickly.
and sharp assault was made upon the conl
roads, forcing down New Jersey Central and
Delaware, Lackawanna ana Western each IN
per cent. TO 90 ana "a, seller 3, respectively.
About this time the scarcity Of the latter stock
for delivery became noticeable, and as high as
OF per cent. was y Id for its use until to-
morrow the price OF the stock meanwhile adj
vancing per cent. to oS cash and w regular
way, under the influence Of the scramble to
purchase, New Jersey Central having previously
also rallied per cent. to 90. Lake shore had
further advanced 10 5lh and Western linton to
70n, with rise ~ Michigan Central to 1914 but
rs soon Us toe time for the delivery OF stocks
had passed. the bears made desperate attack
upon Del ware, Lacgawanna and Western,which
will explain Its sudden decline to e6b. though
n as quickly recovered to g,.s, but closed at "a.
The market In the nnai hour OF trdde had been
worked into such feverish condition rs to be
easily Influenced by sny uutavorable news, even
Of minor Significance, and the fact that the
Michigan Central earnings Ter tue third week IN
July showed IA decrease Of $1,000 ms compared
with the CORE spending period OF last year was
the signal for throwing overheard this stock
with all abandon seldom witnessed except In a
panic. The price broke IL 4 cent to AS in less
time than required TO record the fact, and the
whole market took a sharp tumble. with sales Of
Lake shore at 53iq. Western Union at 20. whtle
81. Paul common ieli on y cent: to - = and
the preferred | Y cent to 6sa New jersey
and Northwestern urcicrred y cent. al ID
Ohios ranged ~ l2hIHi4, buyer B. 2t; and
Pacific Nal. after rallying from ZS1s TO IN,
/ he DAY las been fun OF speculative excite
ment. and the contest for supremacy Will doubt
less tie renewed to-morrow with fresh vgor.
The oversold market IN Delaware, LackawAnna
and Western Will also give this stock promi-
hence.
The total number OF shares dealt in was IT,
SIS, of which Lake Shore represented $3.50
| Delaware. Lackawanns and " Western, A.;=O
Michigan Central. ;si.l2j: Western Union. ll,GUS
| New jersey Central. Hon; ~. Paul, 800; the
pr ferred. 1860: Ohios, 4.7Jd; Pacific Natl 54OJ
| Erie. loo; Northwestern, G,5: the preferred,
2.2OO; Pro. Con. Land aud Pet. Co. 700; Hanni-
bal 9nd 81. Joseph. 80 the preferred. gn: -.
! 80; New York Central, 40l; nion Pa cihc. 3SU
, United states Express. soS Rock Island, $50;
| Cleveland and Pittsburgh. 2d5; Atlantic aud
pscine Telegraph Company, $50; c.. G., c. and l.,
leo; Harlem. 100. aud raeihc aud Missouri, GO;
| Speculation IN the gold market did not develop
| any features OF special interest A strong under,
tone controlled tue deallpgs. with the bulk oil
the transactions at lll's. tho price having only
temporarily yielded To me-.
! The specie ENGAGEMENTS for Tomorrow
steamer a,e. thus far foot up $4,000.
ii \. NJ. ... iilA4 3P M...............lilti
In loans the rates paii for having balances carried
were y. cent, ana nat.
TIE intsl clesr.ngs tho Cold Exchange Bank were
els 147up: guid balances. t5safll ana currency bal
arces, t6t3sin rur sub lrci redeemed $4,000 II
cal Ell hoods. and pal on "a coin interest ON tue puD
nc dent t225 pp
The day uu,ncfs % me- rutet States sib-Trcasury
Vas Gold CENTS. sei.lsl lj. Gu. payments tle7d,
7a2Ss balance. ti3 ~ tin0i currcn receipts
$.glssn.iv do. uayae4ts, sdis.tlH.c6i 90, haance
/ tSainS,i 81 Custom t-'.Up, taac He'd gold Ger
uuCatcs -eAt - Is asAlstuu, tl,NsOuu.
Tue internal revenue rvtcpr ~ Washington todlN
<53uql customs elyt- f4OO.Uu0. The
Treasury AT Washington rvCVyrd soUulfu in nA,iuna
btuA hot's for redemp. on. The uLll,n IA the Baul
/ OF Eugltn1 ~ie Increased Ai0upu.
! t.,' - exchange wa. uuI nud weak az - So an.
- pots for tiqr aud Gem rd drafts With sc ms rates
Z a. a. ~ = 81 ~ AMI "a a''s..ti.ip.
Ilc luHuiig tts fur m IntV uu ca'l q the stock
bruhrfe were rrauccd 10 ~ D cent. with anul an
Unfings = tlis ngurr. uut closed al .. Covtfumcn
+ bond oeaicre erre accommodated at I@lis. and foi
rrstclass commercial paper there was good demaus
! from sltal.-ts AZ alti.
Government bonus Nere lower Ia sympathy with thl
early heayiucss Of rult tu the market closed
Cccliue. coupon o. - 1851 q 1907 gs ere
do. ilgAii registered 10 iu llaie Upon do. lis
cuugo lNdis, llHy ecu Oh % 4 1851, lls1 anu cou
: pom lSO,s, ol d, lla's