The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-10-26

WEDNESDAY, Oct. 25-P. M.-The sto


WEDNESDAY, Oct. 25-P. M.-The stock
| speculation was active throughout the day,
| with the market alternately weak and strong.
| AT the opening Of business there was a sharp
selling movement engineered by the bears, who
thus attempted to stem the upward current,
but the offerings were literally taken, which
VIII explain the rise Of Lake Shore from 81 Z
to g. and of Michigan Central from sos to 52
AT this point, however, in the price OF the latter
stock about 1900 shares belonging TO Boston
parties were thrown on the market which
caused temporary reaction to the opening
ngures' but 1t soon rallied again to 5li., and was
ia'iF on It's way to better prices when the
announcement that a receiver OF the Conti-
nenth Life Insurance Company had been ap-
pointed threw the market into confusion and
Michigan Central then yielded to 4g.. nj which
hglres ~ closed. Lake Shore, however. had
during the day submitted to considerable
realizations after the stock advanced to 62s
GGj, which had caused a reaction to Gia.; but IL
subsequently recovered to GU again before the
Life Insurance news was promulgated. 40 that
its drop from this point to 81 2. may be fairly at
tributcd to the same source. Western Union
opened weak at 13AGi2a regular way, and 72l.
seller 90, but 1t aftcrward moved up to 73s..
buyer 3, though yielding 2 cent. to
72's at the close. Delaware. Lackawanna and
In point of prominence, the former hav-
ing nuctuated during the morning be-
tween 7sS 119lI1s seller 3, G1ss, and then In
the final hour ran down to 1Gts, with recovery
TO ~ seller 3, and closing at 16-s. The latter
was strong in the early trade and ranged at 81
Gt36'sli3s5s431Js, but II subsequently sympa-
thized with the remainder OF the list, and on
comparatively trilIng transactions dropped to
3dH. Pacific Mail attracted some attention be-
cause Of the Intellectual attempts OF the new
pool In this stock to mark up the price, 1t having
risen only spasmodc ily e v cent. to 25S. and
then broke away to ga. The ST. Pauls we're
noticeaoy weak throughout the day. and the
Northwesterns also fell away and l.. ~ cent.
for the common aud preferred respectively.
Rock Island at The close was - lower than the
best figures Of the day, and Erie. though 1rm IN
York Central touched 1917, as against los. at
the first board. Delaware and Hudson ON
the Hannibal and st. Joseph shares were prac-
ticllly neglected. Wabash was lower at 5,.,
aud Kansas Pacific ranged at AZ ma the re-
mainder OF the list having presented no fei-
lures of prominence.
Tie sudden downward turn Of the market al.
luded 10 above. was accelerated by the move
ments OF the bears. who had been Unsuccessful
IN Their Efforts of the morning. and con,idera-
bic short interest was thus created, which will
trobably be called upon to cover later In the
week There has been for some months an iul-
preston ~ well Informed circles. that the Con-
tnentHl Life Insurance Comp my was wing A
hnrd time IN its attempts To pun through, but
about one year ago it, affairs were regarded M
IN more satisf4 ctorv CONDITION, 50 that tile
company ceased to be a subject Of gossip i'm
street circles. The failure. however. took none
by SUI ,ise who had been At all familiar with it,
management from ISL TO 1873, and there was no
particular reason way the shares Of railroads
elther east or west OF Chicago, doing good
b isiuess should b, sacrificed because citner
stock or policy holders IN this company nad
lost their prospective benefits.
Inc total number 81 shares dealt IN was 2lb-
80, OF winch Lake shore represented % 81 ;
western Mon, G,OlJ; Michigan Central. " $50;
Dalware, Lack wanna and Western. 1891 Pac-
DC VAIL LILO; II. Paul. 100; the preferred.
IEoO me preferred, 100; Rock Island. 25JD;
Erie. LEO; New York Central, 1.isU; Ohios,
Loo; Delaware and Hudson Canal. $50 =; Hann'
bal ana So Joseph, 400 the preferred. go; Kan
sas Pacific. go; Wabash. 800: C., c.. e. y l.. no;
, rSrt wwayne' Iel' ST. Louis and Iron Moq!iiain,
N Y. y. H. X a., -.
The operations IA the gold market were insfg-
nincant. An indispositiOn to trade on either
side of the account was the characteristic fea-
ture OF the day. nut a strong tone was auuarent
and the price soon rose from IOeI to io9s.. In,
bulk OF the business having been effected at the
higher quotations. The fact that the ImperiI
hanks OF Russia and Germany to-day advanced
their rate Of discount one per cent. seemed to
Bank OF England
The following were the principal transactions,
10 A. NJ ...los4 1851 A. NJ. Ioa7S 3P. M...1 1904
In loans the rates paid tor the of gold were l. ~
&c ton, cleerngs a. the Gold Exchange Bank were
t--'|aun ~ goa bA auccs, tl,JlU4Sg; currency
balances, tl.1a2.5i3
rue da's business Z The United states sub.Treasury
Wa told receipts. fS3ii0321. gOu payments sl3i.
49,. goa ualaAc S'nrid 1902. currency rccttpt-.
~ 81 curlt.cN payments Si2i 12H. 81 currency
o..Ah'e' sllul' JOY "a customs, tiuiOoO.
1 gee -luttilal revenue rec lufs Washington wera
f3onuOi; and the customs RECRUITS stnu1tI 1 -
lrcHsur; AZ Washington received f54OuUi ia national
bank notes Tor redemption. Iue bllnou IN The IauK
Of England was decreased As5.ulO.
tOfclsn cAChausr ruci dui uut steady at the nOmi.
nal rats 81 sis3s ami 1851. for time and demand
utaits rs.tctlNeh. lle cual selling rates RANGED AZ
iiS.9it:i 80 AMI 81 Sit.o fi.s5.
M.nel CONT nu'i ~ mp supply on call at 2iea3i%
nltrtautii' acreptAucts passed 10 500.
Government bonds were stronger aud In better re.
quest vi trtn.lc Ions IN registered 1905 new Al
IL anu IN coup 1875, q, and n register.
1854 1000