The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-12-30
FINANCIAL dHD COMMERCIAL.

FRIDAY, Dec. 20-P. Misrepresentation at
the Stock Exchange was chiefly confined to OPP
eratons in Lake shore. which developed an I'M
usual degree OF activity as the day progressed.
The cause Of the excitement was the declara-
ton Of semi-annual dividend Of only " p
cent, which. II is unnecessary TO state. was re-
ceived with much disappointment. The fact Of
this trlhng dividend. however only confirms
predictions some months ago expressed In this
column, that the suicidal railroad war would
ultimately drive weak corporations into
hopeless bankruptcy, while the strong roads
would be required to reduce their show
ing of profits. Lake Shore, under the
Influence OF free selling movement
from this announcement, declined from 51k at
the opening to 68's, as against ST.. on Thursday,
though from the lowest point there was a recoy-
cry to JG., with final transactions at sos, buyer
3. Michigan Central opened 1T 45, dropped to
~, and then rallied to 45I. buyer Q. only to
Yield again to ~. but closed at the early
figures. Western Union on limited dealings,
ranged at 7lf to Il. seller 3, at the close but
Rock Island was more sharply attacked, and
dropped from lRH TO 1913. having opened at
lR. The coal stocks, however, showed more
than their usual strength. Delaware, Lacka-
wanna and Western rallylng from 7lss to IL.
while New Jersey Central at the same time
rose IA p cent. to 35L. New York
fLsR Ro Shore SgC0'V declined ldm S wiS
100 hut Northwestern common was stronger
| at 355s TO 1A. though opening at 309. Illinois
Central recovered y, to 6lj,, having sold in
| small lots ~ 6Oii, seller 80, and Wabash was
weak at Put d" ST. pS I ,Isq du
5l3s, though recovering in the lnal trade, There
we're cohsiderabIe transactions in MuripOsa at
| Quicksilver attracted moro attention At u; but
the remainder of tue list presented nothing VI
Tho books OF the Lake shore Company will
close Januaf, q and reopen February 2, the divi-
dend being paid February l.
IL Is probable that the stock Exchange after
| its adjournment ON Saturday VIII not reopen
until III o'clock on Tuesday, Instead OF TO- the
usual hour.
The total number OF shares dealt in was ~ 49,
| OF which Lake shore reDresented $3.50; Mchi-
gan Central. 100; Western Union. 300; New
Jersey Central, 1000; 81. Paul preferred. 1900 (;
Rock Island. 1920. Northwestern. 1900; Illinois
| Central SO: New Yori. Central SO Quicksilver.
| 500; Wabash $50 Ohios 400; PUciac Mall $50 !;
| Erie ieO Mariposa Land and Mining Company,
~; ,hs preferred go; Atlantic ard Pacific
| and Quincy. 100; Delaware and Hudson Canal.
| $50; Union Pacific. 100; Adams Express, IS; and
The gold market reflected unexpected
strength IN the early dealings, and the price roso
| from lW TO lUIh. but there was subsequently a
return to the opening figures, and speculation
after this hour was tame.
The LOVING were the principal transactions:
1879 iSi iG5 1871 i 5S5 M NiS
In loans the rates paid for having balances carried
were q, 6As ROd. anu cent
The tOisl clearlugs a sne Gold Exchange Bank we're
cog 9 o'nnees .Sl5s Emu eurt,sney
900 IN crled bonds. ana paid interest
| public debt sl.OlJ,OJO
The dave business At the United states subTressury
was God receipts, t1,O1l S9l - gold payments e..
l1tGSs ~; gold balance. sGb,sJi.6s1l5: currency
ceips, tOiJ01lH currency payments. fbnGi3Sl1 cur
rency balance 40 eA 3lS4l Customs S16s.ODO.
The internal revenue receipts at ". shlgtUn to-day
were ss35 COO anu the customs receipts t2O0Ooo. The
Treasury also received ti6OtDO 10 nalonai bank
| Tor redemption The bullion In tue Bank Of England
was Increased 5000.
Tue imports OF dry goods. gol valuation, for the
week ending to-day amounted to t6j9J5S and 1851 GO
| wat marketed
The outstandng legal tenders amount 10 $500.
Oh5OOO ss50OO having been retired uurng the presc
month. M colsequ nee Of the Issue OF $1,000 900
national bank notes
Foreign ,Ichange ruled steady att4si anu tisG for
time and demand drafts respectively.
money on call was 10 hundanT supply 10 the stock
brokers at bql cent? with npal NEGOTIATIONS
Prime mercantile paper passed ut UCa7.
| Ire Government bona market reflected wcli.dte.
triuuted business. coupon 1905 sold at i1t't aud
ll0s cOu,on D Of 1891 at Il15s IN large amounts
reg tered i}as 1891, luSi4 coupon 1865 new i13i 10
ll3Ni coupon 1900, uiu, lWHs coupon u uf 1891
l1as and registered 1s of 1881 at lie. The market
| ciusrd strong.