The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-02-13
FINANCIAL AND COMHERCI.IL.

MONDAY, Fob 12-P. M.-The speculation
at the Stock Exchange developed fcyerish
market. and the bears further pressed their adj
vantage. Prices opened weak. and. under the
influence Of II liberal selling movement Of short
stock recorded a decline of 's@1h q cent. in
the list of active shares. Western Union was the
prominent target OF the bears. and yielded from
7i'a TO G9's. notwithstanding the fact that there
were liberal offers for the stock at 20 hut the
programme must. If possible BE- carried out in
order TO conceal purchases for the short account
which have been freely executed for the past
few days. The bear combinations were greatly
assisted 10y the financial embarrassment OF the
New Jersey Central road. and the downward
course of this stock from IL to i5il occasioned
considerable excitement ~ we'll as demoraliza-
ton. on well-authenticatsd reports that
receiver would. on Tuesday. bo applied
for in the Elizabeth. New Jersey. courts,
In the interest OF tho company. The
bank accounts Of this company in this city were
attached late on Saturday. which may have pre-
cplt.t"d the action ofits friends in respect 10 its
Proposed receiycrship. Delaware. Lackawanna
AMI Western was. ut the same time. freely
sold. and declined from Gs} to 677s and o., seller
30; hut from this point il ran up 90 60. buyer 3;
though later reacting TO Gs. and closing at GsA4.
after having recovered to 6ss. Delaware and
Hudson was sharply raided. and broke from
So. TO teL. seller 10 after which IL Jumped to
90, but closed at t9s. Lake Shore sympathiztd
with the generally upris ing iniiur noes surround
ing it, and established break of l e cent. to
Ola AT the second board. though subsequently
ralylnE To 54',. but closing al 5lt. New York
Central was also vigorously hammered at the
opening 81 business, and again soon after mid
day, r. qltng ia drop OF Is g cent. 10 99',
nnd Michigan Central was lower at a..
th"uEh subsequently recovering to the highest
iisprcs. closing at A., Rock Island opened at
l", rose 10 l"1h but fell back 10 LOO in the final
dealings and St Paul preferred, after opening
at 49, yielded e. 49,. seller 3. with late tr.nsa-
tons at 49,. Erie was weak nj 5 = Us 4. : Pacific
Mail at 25e24s: Northwestern common. 3l',,
seller g. @J0. and do. preferred. So ',g5O'a but
Harlem sold at 40; and Union Pacific was
strong at cent. advance to 3D. Illinois Cen
tral. however was "a & cent. lower at 81 but |
TIM other shares We're practically neglected
Central roud engaged the attention of speculative
circles In the final hour Of tr',de, and was the
Exchange The int has been known for some
days TINT tho Dclawnre, La,kawanna aud West |
srn and the L"high Valley Coal companies were
-lt deslrnus OF ohihin ng control OF this prop
rrty IN order 10 secure the Valuahl" franchises |
and property Of the I.ehigh and WilkeSbarre
Coal Corporation and 1t il probable that an ne |
tive contest will enter into the reorgan ization of
inc former company 10 secure this result This |
elimination and collapse in New Jersey Central |
ought To have been reached months ago, and a |
better market for substantial stocks is near at
hand because after tomorrow this coal cloud. |
which for nearly twelve months has hung over |
removed from further influence. and already a |
the Tnc cIi ,,sy has been Practicay rgaehcd.
,sa ~, | o w hiloTy 81 shares dealt IN was
.e,t2o; Delaware. Lackawanna and Western.
ss'Ms; Lake shore, 80 e6I; New Jersey Central.
Michigan C"niral, 500; Now York Central iii
s.ial ,Pacitic Mail 2,oso; s., Paul preferred, !
go; ST. Paul. 900; Chicago. Burlington and
ln c '01 ,, Morris ana Is5Gx E EG93 Pa
rany, zoos Fort Wayne. 200; Harlem, -; Han
nihal and St Joseph, 200; United states ~
10: Chicago and Alton. Isl: Cleveland and
I1llshnrgh, 100; Ohios. loo; and Wells ~ Fargo
The gold market opened strong and soon ad-
Nanced from 1857 Ia lO5i.. but speculation sub
se1uently became tame and unint"rcsting, nc
companied by drop Ia io5'a at which figures
1t closed. There were no special influences.
either domestic or foreign which affected the !
lower.
The following were the principal transactions,
1872 ! " ~ 1894 y AZ, i@r y ,oi'
ii 10 iios,: Z y. ios, 50@@f ~ .ios
In loans Che rate. p't FOR hayins balances carried
Tie total clearing. a the COLL EXCHANGE Department
tnns. 6 So ' Tia inS sGs .r i, SI
IN ealei houis and d out NEON intosc' On ue pubic
Tie day. business at The rnitci States sui Treasury
sl7ro, gold baanci s5i,o3.Gii 8 currency receipts,
sss"es - 7s t1s da. S 'S. currency
Inc mt rna revenue receipts NJ Washington day
Treasury also received siOOooo in national bans
iur redemption
Tho Treasury Department will. Tuesday. Issue an
other call for $40 ulpD52O bonds In accordance with
the d sire Of the - Indicate
Th annual NEE ting Of the directors Of the Philado phla
and Erie Railroad Was held th. morning Gross earn.
ings, 1875, - so, net earnings 1879. sllSi 49,
increase over 1888 $3.50 The following officers were
elected frsll,hL K Thompson, Manh-el+k. Thomp-
SON, q Lives W. Morris, ; Knees J " Gaskin
son, +. A simpson.
Foreign exchange was heavy and declined 10 81 stil
ana ~ ri for time and demand drafts respectively. Inc
inquiry nominal
In the money market call loans pledge n approved
stek collateral, were freely offered a2is yer cent?
with nut NEGOTIATIONS at the lower rate. PIlu4o NNln-
mtrcal paper passed at a. ad
Cove ninen bond. may d" reported ~ dull. and The
market sNmpauufcd with the htHVlnos~ o goll. over
the counters, however, their Wa qul" hr.k hn,lu'ss
Tor small amounts, chiefly f. the account Of moacrats
investors TIE nIurk,t CLOSED steady
The following were the 3 r. A. eo,ug prices