The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-23
FINANCIAL AND COMMERCIAL.

TUESDAY, Aug. 2-P. M.-The coal roads
absorbed the attention of Wall street specula-
tors to the almost entire exclusion of the other
heretofore active sto ;ks, the exceptions having
been Lake Shore, Western Union and Mich gan
Central, In which only moderate business was
recorded. Delaware, Lackawanna and We stern
led the speculative list, and after opening at
VA. soor advanced to esA., with strong tone
and tendency. At this point, however. In anti
cipation Of the action Of the coal combination
meeting to-day, a heavy pressure OF sales carried
down the price TO elh, seller II hut 10 scoi
reached TO 92A, only to break to pox after the
disruption of the coal combination was m ade
known. There was subsequent rally to oll
with closing transactions at 9ih. New Jersey
Central also opened nrm at so. with the rates for
borrowing reduced to hdtll6 for use until to-
In this way they again made a sharp attack upon
this stock, which declined ~ y cent. 10 BIN
It again touched tue lowest point OF the
day. and closed at S. The feverish ex-
i.otuet,ons IN these Two stocks wa. "i in'
creased oy conflicting rumors respecting the
probable result OF the coal meeting; but after
the first announcement OF the general break up,
feeling Of relief tn a the crisis had eliminated
was apparent. and good number OF snorts
covered their contracts. The four leading com
panies, however. viz, Philadelphis and Read
ing, Pennsvlvaut Coal, Delaware and Hudson.
and Delaware, Lackawrnna and Western. at
once decided to sell J00.00U tons of coal at auc-
ton next tuesday. the 2gth inst. TO the highest
bidder, and II Is probable that this arran ent
will be continued during the succeeding months
Of the year. This programme strensthened
such OF these stocks as are dealt In at the Ex-
change, but checked further operations near
the close because not fully comprehended. The
Lenigh Valley, New Jersey Central, Pennsyl-
vania Railroad aud Lehtgh and Wilkes barre,
As we'll = all other coal ompanies, are now fee
toGIake their own contracts. and whatever may
he the effect upon the treasures of the various
corpor itions, IL Is ceriain That cheap coal will
be within the ich of all for some months to
come. lhs hght will DO bitter be ween the fsur
corporations first named and those VINO have
been ur1ven out uf the combination, but the
uade viii eventually be swallowed up by the
wealtbier companies. This break up Will also
stim revival Of business IN the manu-
facture OF iron. AS majority of the furnaces
some months since were obliged to suspend
ooeT ,tiODs. because OF the excessive scale
OF prices established by the combination. Della
ware and HUDSON after midday sold down from
Of to 9O4 regular way ana 81, seller o.; but this
stock did not enter prominently into the specu-
l.tion. Michigan entral was IN re or less affect
Ell by the exCltem ut In he coal roads. AM de-
citned from 4As 10 Dla, at which figures II
closed out there were no special Influences,
except the above. controlling It's movements.
l. Ike shore aud Western Uuion were noticeably
nrm at an adv nee ~ the former from 53'. 10
Ha, buyer 3; anu the latter ranged al 1lQL1l5s0c
IA Ellie declined y Y cent. from IA. To L5s.,
notwithstanding the fact that private de-
spatches safe that President Jeweu b re-
selved the cooper4to Of the English representa-
tives OF tho stock, who propose TO purchase suf-
nsirn, TO garry oui ms v,eTs 9n,os ranaed at
IL, llJ,A. Pacific Mail, 24s; Panama. 100,
seller 3 ~ Paul preferred, Us,I 49,. 1l6Hi, buyer
3 Hannibal ana -. Joseph preferred. ~, buyer
3lpl91 and Producers Consolidated Land aid
Petroleum COMPANY, ll4s.
he total number OF shares dealt in WIS $3.50,
Of winch Delaware. LackawaDna and Western
represented 1880; Lake Shore. 500; Michigan
Central, b.dSb New Jersey Central, SIG; West
trn Union. 300; 1t. Paul preferred, $50; Erie,
l,9Ov; Delawarr and hudson Canal. LIS Rock
Island l,IU; New York Central. 5J2; Hannibal
~ Juseph, ITO. the pref rred, 100; C., C.. L.
ami l.. 2D, Northwestern preferred, 200; Har-
leu 81; Morris and Essex. $40; st. Paul. 2UO !;
bmo-, 40; United states Express. 1873 Pacific
Mai, lOU; Panama, 100; PRODUCERS Consolidated
Lana "nd Petroleum Company, 100, and Ameri-
can Exurcss, w.
The god market ruled dull, but was frmer In
| consequ nee of The adv.nce OF foreign excuHnee
| t. a. ~ ana $50 for time ana demand drafts re-
| spectively. Tue opening price WAS HOS. but II
soon rose TO llOA, u whlch figures the bulk OF
| however any prominent features presented.
| rhelOhowing were tue principal transactions.
10 \. NJ ......lloai lOQS A. M....... 1904
1901 A. M.........llOssl o:OJ f. M.............llO
In ,ans the rates paid Tor having balances carried
| The 'otal cesrnss a, tnr told Exchange Rank we're
722De'O Id balances t9lj,Sup, ana currency bal.
snce, tl0.JEss. The suo Treasury redeemed ii 40
In cal ed buuu ana pald Out IN coin interest tue
/ puzzle dcO $4,000.
Tue internal revenue receipts at Washington to-day
Ire sury Washington received 100000 ~ National
Bank uos Is for .ucuption. The bullion bank
/ o. EngI And Was Increased 49, 900
In IN money marNet abundant offerings cal at
: HOE per cent. wtre no el On p.,d.e Of approved
sto,A 60 lateral, while UHted ates securllIrs we're
placed NJ itesl DisceuAts iirgel al SOD, with eI-
GuvcrLulelt bonds ruled weak and lower sx ,ept Tor
lOOs aIu 5s Of 1881 winch were steady The buslars
however vas lsn though l-Ss, new. oOtn registered
aud coupon, were iree Ui SAG al the early boards.
| The following were tue 4. NJ. closing prices: