The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-07
rINANoiiL AM ooMMERcIAL.
MONDAY. March C,p. M.-rhe rrea+

MONDAY. March G7P. M.-'rhe great
eiturcs Of spccul ton at tho Stock EXCHANGE
wero Pacific Mil. ives prn Union, and l. lko
Snorc. md the tran artl M IN thcso shares were
irGc. The 1rat named was the most prominent,
because of its weakness ana d cline from II
to 20, although opening at 2els, and quickly
vietin2 70 2cM before its rally NJ 4 p cent.
The drop was chi nv duo to tho fact that the
directors Of tho COMPANY, at n meeting tHls
morning IN the Windsor Hotel ta,sed res la-
ton authorizing tho issue IS S2.uOGpD % honds
~ I y cent. currenc inter st, 10 run not les
Than i've nor exceed ten yenrz, the ? .occad- OF
which should be applied only ~ tho liquidation
Of tho floating Indebtedness. Tho stock, IL
should be remembered, closed on SATURDAY at
23h. Az on oIset, however, 10 this stampede,
Lake Shore was conspicuous for lts
great strength. and on rumois that the
Commodore had recently boon prominent
purchaser, added to talk uf increased receipts,
the shorts became friVhtoucd, and in tl,eir gub-
scquent covering movement advanced the quo
taiions from ga to 6iN In the la dealings, with
h"sl sales ~ 7s1f reaction from the hiehg
point Weste Union, on whgt was regarded
as positive assur. nces that the usual quarterly
dividend would he declared, moved up y cent.
t"W. nlter the second board, but II suddcnv
fell oil to co. ut the close, on reports that ~
directors. a. their meeting called for "Wednesday,
would PASS the same altogether. TO add further
to the uncertainty, 1t IL said that the boiid to-
day were divided IN opinion. and that the whole
SUBJECT W - referred 10 the councils OF Weuue4-
day. Whatever nav no the result. the whole
affair savors Of a k-jobbing movement.
In he remainder o the i,st very It'll" was re-
strong and rallied Il to Ia u cent? Northwestern
common rising from ~. to. 4rs, and the pre-
feired = To W'6. while st. Paul com mun was Ia
better ~ 43ii, ana the preferred y cent. at
son. Erie, on a comparatively fair volume of
trade. RANGED at l$1lss, aud Ohi"s were Z
higher at nv, though closing at Pin. Rock
Island advanced from llOA q the Oh ming to
llO1s. and Michigan Central y cent. To 6i's.
Harlem, 142Tstii2H /: 81. Louis and Iron Noun
tain 2eis Atlantic and Pacific Telegraph. 1917,
and union Pacific at 61h06JA. Several Of the
New York directors OF this company left to-day
Tor Boston TO attend the annual meeting 20 he
held on "Wednesday: Pacific Natl. after touch
ing ~, reacted TO 2lss, and closed at .llr. the
late business. with tho exception Of Western
Union, having reflected a stronger tone and
Tho whole moveme nt Of the dav however. has
been characterized by more than the usual ir.
q further unsettllnH OF views even among those
generally best Informed.
he total number Of shares dealt in was sG5.-
sl2; OF which Pacific Mail renrescnted BHl55;
Lake shore, $3.50; Western Union, A., H.: It.
Peu., 6.iN the preferred, 2.4OO Erie, 4,0n
crn, 2,J0: the prefe red. go; Rock Island, 1909
New York Central, 30; Hanniba! ann II. Jo~et h,
80; the preferred, so; Consolidation Coal, IN /:
Chicago and Alton, 300; Michigan centrel. $50 ;
Pacific OF Missouri 4O 81. Louis aud Iron
Monntain' 3f 81. Louis, k,nsas City and
United state. Express, - Atidutic AID Pacific
Telegraph Co. 100: c., G c. and J., L20; Cleveland
and Pittsburgh, 100; Illinois Central, 22J; and
New JERSEY southern, 100.
In the gold market an active trade WAS OBJ
served. though soon after midday the specUla-
tion became nominal until near the close. The
price opened strong ut lax, with an early rise
to lli's. but there WAS later reaction IT, ia
wnich was succeeded bv a rally To 1Ii4, nc whicn
figure the bulk Of the business was done. thou Oh
| Just at the close sales were made at ll4N again.
About $l,0OO,OoO gold has been engaged for la
| Nanl this week.
The following were the principal quotations;
1000 A. M..144i 1889 A. NJ 114at 12.i0P. M.lIfsi
1910 a. NJ .llAis 1li21 A. NJ. ll4N 800 p. NJ. Hos
In loans the rates paid for having balances carried
ranged from 10 3 cut.
The total clclrings the Gold Exchlng Rank were
f2S7op6Oo gold hl1nces, fgil AID currencv tai.
ancfs 81 uS614 The Sub-1rcasurY redeemed f2IOODU
In called bonds and paid out In coin interest the
| puDic debt sl50.OpO.
Tue days business at the U. S. sub.Trcasury was
Goid receipts t0l770nO9; do. paymeGts s41SOSs IL
90. balance, Sii75l34N24 currency receipts. $d02
Sl.6S do yments. SS1doO3U2, do balance, t36ilO.-
| sSa %. Gus ons. tb7i 600
Tue nul ion In the Banx OF ENGLAND was increased
5000. The internal revenue receipts were
idl 600 c.ch The Treasury at Was ing received $500,
| OuO IN national bank NOES for redemption.
Foreign exchange continued du | but steady at the
quotations Of - 81 100 for time ard demand bills
with actual sales ct 81 s5S net and - s9i. s. spts.
Money Vas III liberal supply on all during the morn
inE at 33s cent, with free offerings later at g. DIS
counts rang u at 4qb for prime names.
Government bonds we're less active during the morn
ing because u continued hetuncss Of the LONDON
ket arising from local causes but the later
| strong. and the nsrKet closed ste dy.
| lhc following we're the 3 y. NJ. prices: