The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-02
fINANcfAL Avn CONN nRoiAL.


MONDAY, May 1-P. M.-Thcre was an
active speculation nj the Stock Exchange, and,
under the influence OF a renewal Of rumOrs tn &
the passengel rates ON the trunk lines would be
reduc, d, added to belief that the New York
Central would act independently OF the other
roNds. the bears rushed upon the market, fore
ing down Michigan Coutral y cent to 4SA
l. ka Shore also q cent. to tn Northwest
ern from II &C. 40: AID New York Ccntr IA Z
cent. to lOS. The Atlantic nd Pacific Telegraph
Company further reduced Its rates, which assist
ed in breaking Western linton from oiil to $50,
and the tra sections were attended by much
excitement. A partial recovery was noted at
the first board. but after midday the bulls gave
Q sudden upward whirl t. the gener ! list and
prices advanced to the highest Joints Of the
day
The outstanding short interest is large. and the
market advanced so RAPIDLY that the bears had
not time To cover. How fr this upwa move
nent VIII oe pressed will be moro definitely de
tetmined tomorrow, but the general feeling Is
IN favor OF tettr quotations. Northwestern
preferred was I, Ligher =, the close ST. Paul
Ohos y cent. TO l6i,, and Lake Shore IL TO
555s.
be found IN the table of highest and lowest.
The total number OF shlres de It In WIS
100; Western luton. 81 Gls Erie, 1850: Mtn.
gin ntral 1900 Pacini Mail. 1850: OhtOs. 900;
New York Centr I. 7.42!; Nortnwestern, 9.aJ;
red, 4.JlO Delaware, lackawanna aud Western.
l.s!J Rock Island. LOO; Union Mining c.,
HD; Union Pacific, 7OO; New Jersey Central. GS.;
Consolidation Coat, $40; All tntic and Pacific
Telegraph c.. 425 81 Louis 9nt Iron Mountain,
100; St. Louis, h fn4a- city and Northern prefer
red, 100; Amencan Express, 10; and Cleveland
aud PITTSBURGH, 10.
The operations m gold we're not large, but the
price moved up from 1l2H to 1l27S, 1T viii h
figure II 81 sed There were good buyers ~ the
IN rket on n belief int the slipments for the
week would be increased, while at the same
time some OF the bears VINO were disappointed
because tbs price did not decline lat week to
H. concluded to cover their contracts.
The following were tue principal quotations:
1890 a. N1l2ss 1888 r. M.112Js 1870 +. Miles
1l.JJ A. M.li24 i-i1 Z. M..n2sl 800 r. M...ll-5s
In loans the rates paid for having balances carried
were !. IL, =. 3. 4, cent, aud nat
t2i 1864 100 gold balances SiIS G65 ana rency j.
ances, sl,d5s.6sG The sue Treasury redeemed $4,000
~ cHl ed bonds nd paid ou In col" interest ON tie pup
lie uCot fOJJUOO.
Tie uays Uu mess at tho United states subTreasury
Glid rccclp ti3S 5gi 20 do. pay ments e.. 21g
333yl 30. nee, fIiIDJ3ii AZ currency receipts,
t4U.77I .Jo3 ~ customs. f251 900.
Iue Ia crnti revenue receipts to-day we're $4,000
and the custom receipts tiUO.OOO. The Treasury a
Washington received tbOO,VUD la national bans not
business IN Washington were: Currency, x5,OOOOOU
ana coiu si75oooOo, including t-775OtOJ coin cer,h
cafes.
for I me and demand bills
Money wa, easy On G u ut 3fi, with the bulk Ot the
NEGOTIATIONS a. SO. Discounts quiet At 400, cut
the amount vi ursttl - paper oil riug wa suAii.
r ere were no ncr saurcs prtEgnte1 IN th' narket
for GOvcrinCnt bones. a steady tone character Il
the dealings, which we principally Ia SO's, 5s % lSSl
and 1850, new.