The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-16
FINANCIAL AyD COMMERCIAL.


WEDNESDAY, March 1b-P. M.-There was
less business at the stock Exchange, aud the
furry note on Tuesday consequent upon the
failure OF tho Bank Of the State " New York
WAS supplemented by a better tone and feeling.
This VS. chiefly due to the fact that the hears
of the psf week continued their covering pro-
ccss. and when It was promulgated that Mr..
Belmont and some others. representing the
Farmcrs' Loan and Trust Company, had rs
sumed control OF tho management ~ The bank,
which would probably reopen ON Thursday, and
that the directors had been superseded by an
entirely new regime, the stock market took ON
strength, aud generally advanced to the highest
prices Of the day. There were some traders on
the market who had exhausted their arRins
during the recent rapid fluctuations, aud fell
out by the way, but the strength Of the m emf
bers OF the Exchange was evidenced ny no an
noMncement VI failures.
There was GOOD deql Of criticism about the
course OF the bank managers when so much
capital could have been at commend for the
nsking' ana the representative Of the Comptro-
odium but II In the future moro prudence In
observed, the occasion will not be zltoQet tn err
lost 81 to the general interests of the public.
The principal dealings were noted in Lake
shore western Union, Erie, and Pacific Mail ;
me I,, 'Gl at times the 81; Pauls. Michigan Cen
the speculalions " the hour. The frat named
rose rom 03E to Go. buyer 81 while Pacific Mail
a.
Y cent. at ca. at which II closed.
Erie struggled. during the morning transac-
tions, TO maintain its position. but nevertheless
yielded ncar'y D cent. to lpI, though on bet
ter quotations In London 1t rose e. 20. NJ the
clcse s. Paul common jumped from 49, TO
declined nom 80 to s1s.. though II later rallied
to S2is and Ohios after opening al 81 and drop
highest pdo chsan nPG SGsfS at
al'o2 u cent higher at CO.., und Union Pacific
was moved up !, 10 6jN. The other shares did
q nj ton ion 4 prk
Island. which gained Z p cent. to I10's.
There was, however. NJ the close hesitqting
Keeling, Notwithstanding the fact o. the arp
rally; but as the market Is under the complete
eo.trol OF few onerstots. prices will continue
TO tinctuate according to their dlc'ation.
The total number of shares dealt In was 200 -
go, OF whcn Pacific Mail reurcscntcd 2sSp;
Lake shore, 5j.3j Western Union, 3, 3Ol; Etie
MichiGnn Central, $3.50; 0hios 500; Norihwest,
err. 800; the preferred, J 200 Union Pacilc
zee; Pacific OF Missouri, 400; Wabash, 325 Del
ware, Lackawanna ana Western, 2fj; C., c. and
o sS pr Nhnss fSS SeS nj L End Co.
SgGGssiiver ; A. 40 apd r. preferred lo1 Con-
lexas, leo; Panama, 100; WELSH fgo Tx aross
le8; American Express, 81; and Delaware and
The gold market on an Indifferent amount Of
business rallied from lli5s at the opening to
~ 9Mt closed at lllH. The chief element
OF interest for carrying balances. and as the quo
tstions soitencd so the pIlce improved until
near tine close.
The following were the principal quotations.
1000 A. M..1l4A- 1917 A. NJ. .lliiS G:i7 L. i14i6
lU:43 y. NJ. .llias leU L. Miles sac i. M.1l4is
In loans the rates uaid for having balances carried
were 4. Az, ., q, anu y rcut.
rue lnisl clcariugs a. the Gold Exchange Bank wer,
t5l0SiO0O. gold balahccs, Sl75. 053i and currency
bal S21O5,75i. The subj eas ury rrdcsmel
W. O0 IA called bonds and paid out IN coin Interest
TIE Jay business at the L. g. Sub. Treasury was:
Goid receipts, s470SsaAJ; d.. payments. SiC7 iiSS
90. Da1nce, tiASJs hS9 50 currency receipts. tow
s.lH d9. pay mcnts. co. JaliS5 40. balance, So.
lfO,,V5CO. CUSTOMS SiJvtOu. Caaceled lO.d cl.tin.
Gates scnt TO Washington. 1885 900.
. Tue Iftasciy balances NJ the clOse OF business IN
Nash ston ERE; Currency. 5000 900; coin, AL.
Oly, 90 iucluNlug 80, 5OUUOO com certiucates
for,igh eAchuugr throughout the excitement Of tho
past Two tmained hri al 81 SdB aud tigp
anu dersnl bllls respectively, but busiucas re-.
siicted unt mi AHeinJon, wnen there better IA.
gu4fN.
The course Of the money market plainly ndicate he
Views NJ the edllnS operators. and after call loaus
opened at currency the rate gradually reduce
TO ., VITA hOrra offerings al the lower ngare. Dis.
counts were practically at stauust, and were quoted
as heretofore a; Az %.
III Government tUnds stronger tone controlled the
dea ngN. anu tue market I'D nrtn with advancing
tendency many capitalists taking aya ntage Of the
dsirust VI the other markets supply their require
meats. Coupon lsH1s were IN deInand l2lassl2lA,
and the new OF 1881 also IN good rsalcst.
The following we're the 8 T.. NJ. closing pfces: