The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-04
FINANCIAL AND COMMERCIAL.

THURSDAY, Aug. 3-P M.--Tho morning
business at the Stock Exchange reflected a dull
but generally heavy market, though In the early
transactions there was fair show OF strength.
Lake Shore, which was recognized as the leader
OF the speculation, opened at b3k, and soon sold
down to 81, though It as quickly rallied TO 53h,
and subsequently m aintaiued a steady tone at
53,. G535.. at which figures II closed. Michigan
Central yielded ;. to 3qH at the commence ment
OF trade. but suddenly spurted upward IN v
cent TO 4Oh, though from this point there was
ssharp decline Of nearly 2 v cent. to 3sH after
the second call. This was followed by a recov-
erv to 70, with fnal dealings at 3ss4d1SJ.. This
stock was feebly supported; aud rumor That
the directors had sold out at prices above 20 ao-
CELEBRATED the downward movement. The great
feature Of the day. however, was Rock Island,
which was freely sold by the bears on revival
Impression prevailing that tue leased lines OF
this road had proved unremunerativo; but the
fact that the grain receipts for July show large
failing of compared with last year probably
exorted greater influence upon the minds OF
shs more pfom,nent ss'ers teat al other con
should not be forgotten that the heavy grain
freighting business OF last year was done In
July, while the rush this year came In June.
Bat the bears vigorously attacked this stock,
aud, with the temper Of the market showing
but little resistance, IL was not difficult task
to mark down the price frum 101ii TO 1857. The
fact that Rock Island has been steadily held for
several months. and was regarded as an Invest
ment stock, Will explain the Decentralization
which took possession OF holders of other
shares such as the NoIthwesterns, which broke
mon aud preferred respectively, and carried
down the st. Pauis = and y cent. to s1 and
OF attention, and very easily took
further downward turn, with break
from & d se.r s. snd sns sss4
while at the same time New Jersey Central was
seller o. western Union. ISrousn ali TIM the 0 Si
and confusion OF tho day, ruled nrm, advancing
y cent to ee'4, and closing at the best figures.
The dealings, however, were limited to less than
800 shares. and II aid not at any time enter
prominently into the speculation. OF the other
and Texas selling at *; New York Central,
ioes Ola, seller ., eioex ohios EXGl!H Pa
Joseph, IN oil Delaware aud Hudson, lO0,.G
", seller ~, Gl0l; Illinois Central VI seller 8.
cilc OF Missouri at 8. There was rally Of ]. TO
\ y cent. IN the 1nal trade, but the market
closed sensitive and fcverish
The holders OF stocks appear to have with
drawn from the contest, aud abandoned the
neid for the present, but the short interest Is
covering process commences there Will be a
more active scramble than has been recorded
since last winters campaign.
The total number Of shares dealt In mounted
to 1Ol.Ap " which Lake Shore represented
lhltO; Michigan Central, 1855; Rock Island,
l2,OiO; Delaware, Lackawanua estern, $3.50 !:
81 Paul, $500; ~. Paul preferred, l3,iO; New
Jersey Central, SOS Western Union, 4,eoo;
Northwestern, 800 Northwestern preferred,
400; Erie, 1900 Missouri. Kansas 4 Texas,
luO Iliinus Central and Ohlos each go ; n. Y.
Central, 9S5 Pacific Mail, 60; Hannibal * st.
Joseph, +VO Hannibal y St Joseph preferred,
100; Morris Essex, 345 Delaware Hudson,
80 Pacific Of Missouri, 30: ONO preferred,
Producers Consolidated Land and Petroleum
{ mpanv, and " eils-Fargo. each 100 American
Express 30 Cleveland 4 Pittsburgh. "a Harlem,
- Fort Wayne. So ; Chicago Alton, 80 ; and
Chicago Alton picterred, 80.
The operations IN gold were not specially Inn
porlant, but nFm tone characterized the deal
ings at an advance Of y to liz, AZ which figures
It closed, Tue buying was chiefly for CONNER
cial account.
The total coinage at the minis during July
amounted to S5,5Jo,OOO, principally silver.
The following were the principal transactions.
10 A. M...lll7s lao i. M...lll7s 100 l.. N....Il2
Hoo A. .ll2 i245 +. M....ll2 800 Z. M.....Il2
In oaus the rates paid for haying balances carried
The Total ceirinss at the Gold Exchange Bank were
tl37dsuU5 gold balances, l2i 1877 ana currency bal
in called oOnls, aud pad out Ia coin Interest On ~.
punc debt s7VsVO0. also $4,000 for redemption Of
fractional currcucY.
The day business at the United states subj Treasury
o7apo 10 balance t3i ,Si3 sagsS, currency receipts
$3.50 1862 40. payments f4bi 1900 10. ba,ancc,
tau,Uf9.DoHn2, Gust ms, sSeS,u,p.
luy bullau IN the BANK OF England W : increased
Aalho during the past week. the gain ~ day having
Tue in,r.al revenue receipts at Washington to-day
amour 4 TO 100000 customs receipts tNOltOO and
toVoco national bans Hotes were received Tor redemp
Foreign exchange continued dul ana heavy at the
nominal quotations OF siSSs and "a vIs for ma
| were slS7's 5gi.SN aud a. Sp'sts4.YO.
Money was freely offered GA cali .urns the morning
~ lv2 cent but the rates we're suhst qututy raised
To ~. filme mercantile paper request at 5
~. Vita executions az iiv,s1.
Govcrnmcn bonus were stronger and IN moro active
demand with iarge transactions IN coupun 1915 al
llA4 aud llHs coupon lSoos, new AZ ll734 aud
/ f.aI.tl k1.fu lhg gI.a