The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-25
FINANCIAL AND COMMERCIAL.

THURSDAY, Aug. 24-P. M.-The day at
the Stock Exchange has been the most exciting
of the year. The fact Of the disruption Of the
coal combination on Tuesday did not appear to
reach the large army Of investors outside Of this
city until Lite yesterday when they made haste
to open their tin boxes, and this morning SUD
pied tho public with their long-hoardcd secuu-
ties Of Delaware Lackawanna and " estern and
New jersey Central. accom- panied by a generous
sprinkllng OF Delaware and Hudson Canal, at
decline from S49 TO IN, regullr way, with sub
sequent transactions at "a. seller GO. Delaware,
Lackawanna and Western. however, continued
to be the great feature Of speculation. and the
price broke 81 o cent. TO 80, seller 3. whla New
jersey Central, which had already betrayed its
loss Of friends, went tumblihg downward 10 z
cent. from SO at the close on Wednesday, to 40
to-day, az " hich final trans actions were effected.
At 10 o'clock, when the stock Ex -hauge open
ed, an attempt was made by certain we ltby
spectators TO stem the tide 10y bids for large
lots OF coal stocks, but the orders to sell were
imperative, and In few minutes the bidders
were loaded to the extent OF their orders.
Then a decline began sharper than has been
witnessed for months in the Stock Exchange.
In the exciieme mt the coal securities touched
points lower than they had ever ruled. Stock
came out from investors at a rate that fairly be-
tNCrN hthD u-td 10 Atilluse W Nuc coal
securities. For several days past cert in banks
have refused to ieui upon the stock. ana yester-
the action ~ these more prudent institu-
lions was followed generally.
the fici that with sucu remarkable decline
there were no failures ut the Exchange caused
considerable surprise, tYt NAV easily lie ac-
counted for by the above explanation. he
downward whirl IN these stocks, however.
created great sensation. and flr u time
II seemed as II panic IN the more
substanti Al shares would be recorded before the
day's business was over. or ceu, - the bullish
iEtV hsaF II al N Liza "A
Western Union submitted To certain degree of
discou hture, because none were 40 courageous
bs to attempt further advance In the face OF so
much moralization; but the bears, on the
other hand. we're aisA pDointcd at the conn ira-
only Ia and Ia Y cent. TO 53. and 'Oi. respect
lively. In the afternoon Erie, which n q scarcely
attracted notice during the morning dealings
became suddenly active, aud under the lthu
ence of saes OF long stock for the purpns, OF
better pro. ect = some OF the coai shares,
added To ca 10 rumOrs II y ssiule foreclosure,
quickly fell III from l3@ to 50 but al this point
prominent operator came t. the re-cue Nv
orders t. cover short contracts nut out al IA
a.. during the squirt OF = cent a feN DAYS AGO.
In Michigan Central "A furtner decline OF | q
cent. To tOS VS. cstab isned. aud We may here
the same IN nagement a. the Delaware. Livka-
wanna ana Western. has been subjected to Z,
wise have encountered. After Erie went
overheard some OF the more adventurous spec
ulstors M de sally at Onos, which broke away
/ from ~. 70 IN the hears employing the Tact
/ that the Baltimore and cato road, which is its
sponsor had lost he,vily in IL; railroad hght
/ with the New York Central on Western tariffs.
/ ST. Paul preferred was only indiferentlY sup
ported ,afiera snort hut sharp strugGle,nnd broke
Il, T. Mt. to H., with closing sales at 4, ana
! ths Northwestern shares were also severely
handled Of decline oil 3sWls b cent. for the
common aud preferred respectively Rock
Island assisted In unsettllng the general m trk Z
| by decline uf n cent. to lHA, the principal
transacuons having been recorded after 2
o'clock but the remainder OF the list was urac-
ucalN neglected, with the exception OF paCnc
Mail, winch dropped from ~. 10 BY. Prudu
| cers' Consolidated Land ana Petroleum COm-
| panv further advanced TO ll+s. Inc general
III rket closed feverish aud excited. wi indira-
tons OF renewal of the excitement on Friday.
The total number Of shares dealt IN Was 20
| 500, of which Delaware, Ltckaw ,nna ana West
ern represented ll9,lGG; New Jersey Central
| 1851 Western Union, 1900; Erie. 1900 Mich-
| igan Central, ll,kUi ~. Paul, 800 the pre-
ierred, l2sOO Rock Isl nd. s,6I; Ohios, 4l4O
/ Northwestern, LOO the preferred, lHi l.
cinc Nail, 200 Union Pacllc, 800 level ma
ana Pittsburgh, ~ Consoudation Coal, Dl
| Morris ana Essex, ~ New YORK Centr I, ~
| lanupal md II. Joseph. 100 Missouri, II ausas
and ,eXas, 100 ; Panama, lO Producers CON-
| Pacific of. Missouri, 100; United States Exurcss
100 IA .rem, %; e. Il. nd quincy, 90; Al TINS
Express, 20; Ameilc"n Express 20 and iliino''
Tue Void market was nrmer partly IN couse-
gu nee Of an adv nee In "a days blllN 81 l"relHn
exchange To Sie'is, and pifuN ne'3H,' lua
| shorts were frightened mo cuNeiiu-. fne plice
A1,.n e. from llo to i 90, S..s9d al H.
looo A M..l!iws MA M..llill, i@3 !. M"iiiioo}i
Mss A. NJ lis i2Ad T. MIA I1uO T.. Mil
Ia l,ans ne rates paid for tno use Of goll /
| . y cent. and nti. aud for CARRYING cent
| The fol.l c.earlhssA the cold EAch.Lse Rank w,r,
al. b73 ono Id ualaucc a too Ol, AID Currclty hii
au,t.. tiaS5 oUi Tine SUM- d.uY ned. M 4 II 80,
Ia t4l eel bond, and phd our ia coin interest GU O.,
| lu. he UrOt $A1.uuu
me days busmcss q the Vntcd states sub Treasury
40 70 guli balance, ,33,Idg3siOS, Gun Il recon- :
| t3'a7SlIui currency payments, trlH.2pli eur
| rcncY b4uncc, f33.5Ol Sa3 ~. customs. 33HtuIO.
In hulnon IN the HanS Of England wac de, rrtsct
- d ! a d l.
| hYns been A32dOOO, hut It Is gained ol ht ace
AlOlOOl The Internal revenue r'cc 20 at NAalluE ui
were ttOloOO, ami tle customs receipts AlNnhn. lh
Ire sury Al Washington received klOaUOOJ IN na
uona bank notes tor redemption.
In the money maTket the general rate on call wa
CEN, out ABOUT 2 p -our lalE" operator in NJ
Jersey cen raj offered lots Of ta1Ol0 90 ts1oolO 4
ceut, from which he marSrt dd not recover. Dls
counts were quiet M 3eth y crni.
G9yeInmeIi bonus were pr.c,icaliy ncglecied u9Ii