The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-20

FRIDAY, May 1o-P. M.-rhe excitement

FRIDAY, May 19-P. M.-The excitement
IN Pacific Mail eliminated this morning
when the fact became known that the opposi-
tion to the present management had secured
ssuflcicnt amount Of stock to control the ap-
preaching election. The price. however, sd-
vapced from II to % under a continuation OF
purchases for account Of the short interest; but
when this buying ceased, the stock was easily
knocked down again to 21k, though later recov-
ering to 2's, and closing 42h. The Panama
Railroad will be represented In the new manage
mcnt by six Of Its present directors. The strength
Of this stock during the early transactions at the
Exchange, added to the fact that the contest for
the Pacific Mail had ended, caused a good num-
Der Of shorts In Western Union and Lake Shore to
cover their contracts, which will explain the rise
In the rst ed from 65H to 06,. and In the lat
ter from b3,. to 541. but the subsequent break
in New jersey Central OFFS v cent from " to 80.
aud later OF Michigan Central from Az to 46A,
changed the current of SPECULATION, the down
ward movement having been assisted by the
throwing overheard Of both Lake Shore aud
Western Union by small pools recently manipu-
lattng these stocks for rise. the lowest prices OF
the day having been generally established at the
close. Erie was weak at l5hQl4Js Delaware,
Laokawanna and Western declined = To lO5 !;
and Union Pacific was also :. lower at bsh, with
a feyerish and unsettled feeling throughout the
list In the late dealings. -
The total number of shares dealt in was II! 1888,
of which Western Union represented 80 800 Lake
shore, $40 Pacific Mall, $500; New jersey
Central 1898 Michigan Central, $500; Della
ware, Lackawanna and Western, 4,440; Rock
Island, 1910; st. Paul, 1000; the preferred 1900
Ohios, 100 Union Pacific, 1g70 Union Mining
Co.. LOO; Producers Consolidated Land and
200; Consolidation Coal 200 New York Cen
trail 610 Wabash, 800; Northwestern preferred,
100 New Jersey southern. lW CHICAGO aud
Alton, W Delaware and Hudson Canal, 81 and
Cleveland and Pittsburgh, So
The gold market displayed good degree OF
at xl.aIl aaft oil In irr
and the price advanced from 112z to ll27s, tut
on liberal reazations there was reaction to
ll2h, though closing at I'm. The specie en-
gagements for Saturday amount TO over tSOC,OUO,
and this fact sttengthened tue final quotation.
The following were the principal transactions;
i iOYS a. a. ii s us rs iiss 500 + NJ Ia
In loans the rates paid for having balances carried
The totsi elesrings at the Gold Exchange Bank were
f22 $50 gold balances $3.50 4OO ana Dal-
anccs tss4.G37. The SubTreasury redeemed $3.50
~ called bonds and paid out In coin interest on the pub
The osy nu ness at the United states subTreasury
was Gold receipts. f25l l742O do. payments $751;.
tOip ;al2 ~ DO. payments t3i5 5lS0i do. balance,
t37 7l6,3u2 Is customs. tc2iOOo. -
the custom receipts sBOO.OO6 The Treasury at Wash
ngton ttOUOOO matt nhl bank notes for
demptiOn The bullion In the Ban< OF England was
Forcgn exchange wss duli. but nrm. at - ssIS and
tyOls Tor time and demand drafts less fsA IN actual
trade.
In the money market the usual supply OF loansbe
funds was noted at 35es2p cent the lover rate hav-
INK been established alter L. NJ. Discounts we're
quoted at 400 Tor prime nance.
GOyernneAt tond- further advanced In response to
higher gold aud continued Drisk inquiry. Coupon
registered lO.4Os IL ~ OF 1881, in
request.