The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-06-29
FINANCIAL avn CONN sRcIAL.

WEDNESDAY, June 2S-P. M.-The stock
speculation very suddenly took sharp upward
turn, the result Of fresh combination to force
the bears into covering. As the operations are
entirely local, bold aud vigorous movement.
either up or down, IL likely to meet with a fair
degree OF success, because the general run Of
specuators seek only to follow the current,
without regard TO causes. For some months
the market has felt the need OF leader and II
by the Developments of to-day more vim Ia im-
parted to the dealings, there will be cause for
rejoicing among both bulls and bears, even
though few may experience Temporary disas-
ter. The grcat features OF tho day were West
err Union and Lake Shore, both " which re-
corded "a larger volume Of business than
observed in many weeks, and the vlgor
displayed In their manipulation gave evil
dence that fresh operators were again at the
heim. Western Union Grnly moved mp from
65a4 to 10'., and Lake shore In the afternoon
commnnued prominence nv lts steady advance
Of ~ N cent to bSS. Michigan Ccntr 80 far
sggmVa,nzed a. 60 rsv cent TO pi, ana
than at the opening. Rock Island rose TO
100. New York Central, rs TO lNS Pacific
Mol, ,, to 25A and the remainder of the list
established "A fractional advance, except New
Jersey Central. whcn seemed TO break away
from the IN trket, aud dropped " cent. to ia.
The whole movement was "A surprise to specu-
ative circle, and, for the day at least lifted tho
cloud OF despair witch has for long time
The total number OF shares dealt in was 1884,
917, OF which Western Union represented 1865
Lake Shore. 1850. Michigan Central. 1l,lUO It.
Paul 800: the preferred. Asl4; New Jersey
Central. 400 Delaware. Lacgaw ,nnaand Vest
eru, 400 Rock Island 2.125 Pacific Nail, 200;
Ohios. 2,;ij0: Erie. 900; New York Central, L.
lsl; Notnwestern common. IL 800 the prefer
RED. 6.6OO; Wabash, 700 Consolidation Co $40
Cleveland and Pittsburgh. 400; Mariposa, 800; tho
preferred. 800; Producers Consolidated Land
and Petroleum Comp nv. 200; Delaware and
| Hudson. 1877 C., C., G. aud L., 100; Amerc n Ell
press, 100: G., e. aud L. c. 100; Hannibal aud st,
Joseph, 100; Panama, 100 Missouri, Kansas and
| Texas, 100; Chicago and Alton, 100 aud Allan
| tic and Pacific Telegraph. 10.
| The operations In gold also developed a decid-
edy nrmer tone, md the price recovered TO
| ll2i., at which figures II closed stro q. Unfa-
| vordbe advtces fiom Europe respecting the
Turkish question, added to the hesitation Of
Senator Morrill, In IT'S acceptance Of the treas
| ury portfolio, together with the fact That the
local Spectators are generally short OF the mar
ket, influenced the temper Of the speculation.
Ine specie shipments to-day footed w about
$3OU.OOO.
The following were the principal Transaction;
1899 A. Mii,S 1919 1919. n Is s.2S + wllIlSN
& !5 LIZ .ss 4 h iii' ' S0G Z H&.iiii$$
Ia loans the rates paid for the gold were i@l
Co. 4 e,earinss a! tie coz ks'sanee !, nix were an
Tue day. business at the United states sib.rrca.ury
:. ass oas % soa oaliaes siSig aoa7i currency
currency sssSe sos ssoc
the Internal rey.nn receipts 10 dss &C " asalngo
Treasury AZ Washington received OOOVyO Ia national
Foreign exchange rong at - ss& md a sos for
| time and demand draits, with slHht concessions IN
IN Inc money market there IN abundance Of
oanahe funds seeking enplt ynient AZ 21t2 per cent
Prime msre,n.s paper continued in demand at 40,
| huNcrlm'ht pnunr TOOK turthtr upward turn y
4aeas Se1' CONSEQUENT l, upon a rcesSed demand
OF god also Influenced the market, which closed strong
with only lev oneiings .