The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-10-03
FINANCIAL AND CoMMERCIAL.

speculation was full Of excitement. but
the volume Of business was almost ex-
ciusively confined to Delaware, Lackawan-
ma and Western, Lake Shore, New Jersey
Central, and Rock Island-the transactions In
the remainder of the list having been compare
lively unmportant. The nrst named, however,
constituted the real feature Of the day. and
under the impulse OF free offerings by investors.
added to fresh programme for breaking this
stock, which was perfected by sorle OF the local
operators. the price further declined to 64's,
regular way, and 81. seller 90. New Jersey Cen
trail. which had exhibited a certain degree Of
strength In Its rise from 28. to 2,I, fell away to
e6s. again, and Delaware and Hudson broke from
63'. to OH. The downward movement
in these stocks was facilitated by des-
patches from Philadelphia that Reading
had caused quite a panic In that mar
ket by its drop below 2n'., as against "A
less than one week ago but during all OF this
scrinmnge Lake Shore moved steaoilv upward
from 53,s, settler 3. to STA, aud Michigan Central
recorded AN advance OF "a to 49,. Western
Union at the same time was n better at eos.
ana these stocks appeared TO have broken loose
from the coal shares, and were controlled by an
entirely different element. Rock Island, how.
ever, evidenced weakness from the start and
gradually dropped away from lOOh. ex dividend
lied to ps7s and closed AZ psA, after touching
es1.. he cause Of the decline in this stock was
u
road for September. but more especially
to the fact that Mr.. Tracy, its Presi-
dent. continued to be SO ~ as to
Lake Shore fell away curing the afternoon to
53E, but recovered To b3It. aud closed At 63a4
which was higher than the opening figures
but New jersey Central was the conspicuous
feature OF the afternoon because of its rapid
adv nee to gS1,, under the guidance OF some
new element not July compromised. There
subsequent drop to 21's. hut the price
closed at Sss after all unusually feverish specu-
lam der Ia
bought In under the rule. ana many Of the shorts
In their fright FASTENED to cover. Delaware,
LaCkhwanua and Western also seemed To catch
the upward Infection, and .led to tJa In the
late de .hngs. though closing al $50. rne 81.
Pauls were weak ut y aud h cent. decline for
the common and preferred ehp,ctively, aud the
North We, terms, on a limited business, were also
depressed.
watch past experience T. Of nttle avail and any
novice IN Wall street. VITO takes pains to uiorm
himself on which side the largest amount of
capital ~ employed. and which stocks are being
TRULY held, or luuirerently supported, can vii
OUT much risk determine the course II specnla-
ton, ana operate more surely than those who
have followed the profession for YEAR. II Is "A
well-knoMn fact; that some OF the shrewdest
spectators have made large amounts 10y the de-
cline In the coal stocks. only to lose a gooC part
OF their profits by AN infatuatlon that the whole
market was going to the dogs" nut surplus
j. happily sttll left them. which they do not low
venture in any sue issues OF the bear canpagn
Sew raj railroads west Of Chicago h we tO-aay
further advanced 10 cents per lOl pounds their
Rates of freight on cereals, and 80 yer car on cat
tie transported over their lines aud TINS H. but
stepping stone toward u settlement Of the rail-.
TO Il war. now waged by the great trunk lines OF
the Est, toe folly OF whose suicidal .ctiou dur
ins the summer Is daily becoming more ap-
Inc American Mining Board organized to-day
ard He'd the list of California stocks. ABOUT
l.4OJ shares changed hands, but tue business
was CnieuN preliminary. ANY prominent trans
actions Will secure mention, Dat some DAYS will
elap-e before any definite opinion can Ue formed
of the success OF the ENTERPRISE.
The tolh number VI shares dealt ia was 200
Il..I..
represented rs 65j; l. Ike Snose, goo; y. J.
Central. 2.@,; hock Island, ll,75J; Western
l.sOj; the preferred, 5.5d1; Delaware and Hdd-
son Canal, 40D; n. \. Central. 2.7l0: Ohios.
l,lco; Northwss.eIn. $50: the preferred. 2.to'
" Abasn. 500; Erie zoo; Illinois Central, 81; Pa
c.nc all. 40; Maryland COD, ~. Uuiun Pa
Gun, 81; | :. Expiess. 20: A. nj +. lei. Co.,
l,J; American Express, no; Kansas Pacific,
he operations IN gold did not attract much
attention. ami the price nuctuated between
no. at the opening aud ll0-closiug at the low
cT nkures. there were some short sales. based
upon an idea that the Govern ment would sell
gold TO help the syndicate, but there is LIZ oil
cIul authority for this belief
IhefoiioSins were the principal transactions;
i S a i 1919 4 M HIS j S hiiS
IL loans the rates pad Tor the u of god we're Z.
cent. aud MAJ, nd for CARRYING nj.
,sl,Ssl,o'o ge!a BALANCES sl,54a5So: ana currency
5000 10 cai'ed o.id, ami PAD out III CON iAterest
lac ia, CUISINES ii Tue United state. sub Treasury
We colo reeripts ti,sl. ~ 10; d., p4vmenls. sGli
81 2iHH1i do. y Nmrnt-. ROSA 90 - balm e.
taNuf3SuH 49, Customs Si.4.uN
Inc bulnun m tue Hsuk uf England decreased
Gi2OOO. Inc internal reVenu. rccript, we're so,Jpu
nud ilr Customs receipts S3 u.uuu. TIE Treasury
shngton received s5uo,UOO In nation bank
Iotps Tor red mp lou. Ihc IT arury balances tnr
clusc # business IA Washing On we're: Cdrrency, 81
5OO.ODpi aud com, tbi,JOJ,UUU lneudIBg tsyJ1iUuO
CON CrrtnCa
Foregu exchange ruled quiet at 81 80 and assn Tor
time .ud demand bils, IN concessiuns VI lts ~.
a,tuAl tiadr.
Money shuwed hardening Tendency. and the rates
for call loanr we're quot 40 &4L2l cent Dsc .unis
renamed s,rady al "'pOsi Tor pillr am
IN Government buuu "a dui ana quiet tone wac noted,
with mo- tr "a. action of tmp0 lance atnDug IA small