The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-06-22

"WEDNESDAY. June TIP. M.--The opea-
tions at tn Stock Exchange were characterized
by more conadcnt speculstfve tone, and UNI
der the leadership OF Lake Shore, which was
the conspicuous fsature Of the day, the general
market advanced y to ~ y cent. Lake Shore
| was largely purchased by a fresh combination
| on revival of the story Of a dividend in July,
but the cause OF the generally better feeling
| was traced to the fact that efforts are being
made to effect some compromise or adjustment
OF railroad rates, and thus terminate the runIous
competition In freights at present con-
Quoted with much bitterness Of spirit
How far these efforts will be success
full the next few days will determine.
but from present indications tho outlook Is not
favorable. The strife was commenced because
OF the great reduction In the volume Of business,
and the cutting under OF prices was resortsd to
for the purpose OF controlling this tratho I'm its
reduced proportions. The lower rates have not
imported any stimulus to the general trade OF
the W est and until business SO far revives to
AFFORD employment for the leading trunk lines,
they will continue to make contracts the same
@ heretofore. The roads west Of Chicago, how
ever, are gaining In receipts, and will grad ually
overcome their Losses incurred under the ruling
a disposition during the past few days to pur-
chase Northwestern preferred stock, which this
,sTno9n further sdvsneed to g. The s.
vance was less marked, though Ohios were .
better at l6k, and Michigan Central rallied
tx cent in New Jersey G Central fI to q was
chiefly due to the covering OF the shorts, rsther
than to any Increased confidence in the financial
condition Of the road. Delaware, Lac awanna
and Western was also l.. better at 1913, and
New York Central declined \ To 106A. and
Western Union was indirerentiy supported un-
I'll near the close. when the best prices OF the
ter at 13n. md Rock Island ruled steady, while
racinc Mail rallied to Us on report that the
Panama route. Atlantic and Pacific Telegraph
was weak AZ = decline to IN, but tho other
shares upon the list did not command promi-
hence.
The total number Of shares dealt In was Ill.,
i0V, OF which Lake Shore represented 62,l0O;
preferred, $3.50: New jersey Central, 6iSs; Sc.
.ulL 800 tue preferred. 100; Michigan Can
s,e6s; Erie, I,IoO; ohios, i.7OO; Pnclnc Mail.
100; Rock Island. as; New iors Central, 800;
lant,c aud Ps,nhc Telegraph Company, 400; q,
c. and !. G.; 200 c; d.. aud Quincy, go; Chicago
and Alton. ITO; -. L., X; {; and n, 100 hmeri-
Canal SS.
Tue gold market continued extremely dull,
and devoid OF any features OF Interest. All OF
the transactions were effected AZ hex.
The specie engagements for tomorrow foot
The ioiiowine were the principal transactions;
1000 An. .1sss 1900 M..1i2ss 500 p. .11cas
losns The rates paid for the use of gold were l.
fhe total clearing. at the aold Exchange Bank
f9s s"i ns sss and ss
the pubic debt 49, 900
Tho aay business the United states Sub Treasury
Gold receipts. t5g2 6s4 IS do. paynents SIIgs-
bsl23 DO balance $3.50. i31 81 currency receips
Wa t05 20 90 payments 81 o25,1ll .0l do. bal
esrlincsie. scot to Warrington D. C., u,o55coo
The bullon la the Bank Of England Wa increased
E1OOO. The internal revenue receipts were 100000
and tue customs receipts 49, 600. The Treasury At
Washington received 5000 OuO In national BANK notes
Tor redemption the Urea uy ossnces At he close o.
business In Washington were; Currency. tiO,oODOnO
and coin too5Oo 100 including t13,0o0.0Oo cert
ncates.
Foreign exchange continued dun, but Arm at Ass
and tivO for time ana demand drafts respeC
less Nc. concessions In actua business.
Money wa In ABUNDANT supply call at 1tpt32
cent. to dealers In Government securities. and 2p2
approved stock collateral. Prime mercantile paper
Passed freely AT 4ad, but the nrrclss notes
vas extremely limited, as the 1oDDers are generally
cashing their own acceptsnces.
Government bonds ruled steady. without any pres
sure OF offerings, while the demand for tnye sInent,
principally for the account OF national banks CON
tinntd. The 620s were chiefly purchased OuI during
the morning consideraDie amounts OF bs OF 1881
changed hands.