The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-03
FINANCIAL AND CO.uMERCIAL.

TUESDAY, May 2-P. M.-Speculaton at
the Stock Exchange was characterized by pc
RODS OF great activity, though the volume OF
business was less important, because OF q e
quiet OF the market for an hour after midday.
At the opening, the bears vigorously attacked
Lake Shore, Michigan Central, and Western
Union. and In this way partially checked the
upward tendency observed at tho close of Mon
day; but Pacific Mail, Erie, and the Western
harcs were strong, aud prices on the general
list soon began to improve. Lake Shore at this
time rose from 53I TO Jis; Western Union
from Ga to ca. Michigan Central from 49A to
500 while Erie was s. better at 49,, and Pacific
Mail = NJ h1s. just before the close, however,
OH reports that the railroad meeting held to-day
had broken up In disorder, and that large re-
duction in passenger and freight rates would be
announced on Wednesday, there commenced a
free selling movement, which carried down the
market TO the lowest points OF the day, with
Erie ai IA. Lake Shore 52'6, with offerings At
So afters ard in the street; Michigan Central
49,, and western Union to "a. Reports of an
early foreclosure of the Eric road nso innu-
enccd the decline. Attention IL Invited to the
extreme changes given below.
The total number Of shares dealt In was 49,
OIL, OF which Lake shore represented i9fFl;
Western Union 1880; Pacific Nail 1860; Erie,
lb,Sn; Michigan Central, 1880; Union Mining
Company. 1000; New York Central. 6,0sG; Norih-
western. 3,S,j Rock Island, 1H5, st. Paul. $500 ;
the preferred. Loo; Delaware, LackaWanna and
Western, $50; Northwestern preferred, 3OJ; Con-
solidation Coal. $50; New Jersey Central, 200 (;
Producers. Consolidated Land and Petroleum
Company. 800; Hgrlem, 1CO; Hannibal and 81.
Jnseph. 200; the preferred. 100; Cleveland and
Pittsburgh, 16t Atlantic aud Pacific preferred,
lVl: Adams Express. 100; Chicago. burlington
and Quincy, ISL; G.. c., &. and l., l00 Pacific Of
Missouri. 100; Union Pacific, 100, and Illinois Cen
trail. -.
The gold market was strong and active in the
e nv trade al $50 advance to 49, but closed dun
al ll2is on rcaliz tions.
The following were the principal quotations.
1918 T. Nils 100 p. Nils 800 i. M..ii!is
In loans the rates paid for having balances carried
were I. 11e. 2, ~, y. cent, aud nat.
The totJ clcarlugs at the Gold Exchange Bank were
81 35s 900 gold balances f1i717O7 and currency nal
auceH, d6i 1888. The sue reasury redeemed $4,000
| lie deDt s45i.oo0.
The davs bu iness at the United states SubTrcssury
GOid receipts tf5a, 20 do. pAymeltr tl.bi5
0;Oa9 40 balance t4d,4la3p % currency receipts,
| Sal $40 .,ss I'd 1 customs. s3jl. 900.
The bullion ~ the Bank OF England was increased
| G9Si, 900.
The Internal rovenuciand the customs receipts footed
up $500 Oou each. The Treasury Washington re.
ceNed $4,000 national hsnk notes for redemption.
The specie engagements for tomorrow foot up about
| f60OunO.
Foreign exchange advanced to siest and a eols for
| ca days and short eight bills
The money market ruled easy cal, during The morn.
ing At Bal, but later advanced to D. though maj offer
| ing we're AZ 2.
| Discounts were quiet at 4ao.
Government ponds reflected fair business, aud In
sympathy with higher gold and exchange closed hrm
The principal dealing we're IN 1865, lOios, AID % Of
| 1881.