The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-02-08
FINANCIAL AND cOMMERoIiE.

WEDNESDAY, Feb. 7-P. M.-The bear
movement against Western Union was further
developed to-day and under the influence OF a
pressure OF large blocks of stock upon the mar
kct its price soon yielded ~ 2 cent. from 72,t
to NJ though there was subsequent rally to
72S. after which it fuctuated between a. seller g.
aud 72'i; with closing transactions at 72ii
There were no fresh rumors respecting this
stock in speculative circles but the bears per-
s'st"ntly hammered the price, with fair drgrec
Of success. New Jersey Central divided the
honors Of the day with Western Union. and
broke -, 4 cent. from % 10 224 on false reports
that the meeting of the stock and hondholders
held to-day. had adjourned in confusion, and
that the purposes for which the meeting had
been call d. did not meet with the support iis
friends had been led to expect. when. how
ever, the net earnings for the year were an
nounced ~ sAil.Voo, and that the meeting WAS
sudden jump To q ia hut it fell back t. 9la and
closed at % - after again rallNing To- "a. Lake
Shore which, during the morning. had dis
alter p NJ subjected Ia "A vigorous onslaught
ny operators Conspicuous IN the Western Union
until IN " had recorded 49,. the break having
h'cn ACCELERATED hy a report that the freight
r"pr'rrnta,N's OF this road would meet on
Thursday To- d,tcrmno what action should be-
rat = hy some Of IL" trunk lines Michigan
Central, at the same time with Lake Shore, was
severely handled. and dropped from i6it To-
q, though recovering to 49, and closing at as.
Delaware. Lnckawanna and Western sympn-
thized with the course of New Jersey Central.
anu was :. 9 cent. lower at Is, aud closed heavy
NJ 6s's, seller 3. Erie was easily knocked down
from On Ia 81. and a more active business in
tnls siock Vas noted but s. Paul preferred took
yielding 10 49,. with final dealings at 49H Del
aware and Hudson sold down to 57a rs against
60 Yesterday; but the remainder, Of the list pre-;
s'ntd no marked changes, though United
Stats Express at 5oE WAS y cent lower than
Tho simultaneous attack upon Lake Shore
and Michigan Central was evidently Ia enable
NE shorts IN western Union the better To cover
their contracts. but the market closed f,.yerish
and unsettled, with Indications OF an active
bus II, - To- morrow.
Tho total number Of shares dealt in was Ioi.-
81 OF which western Union represented G5 loo:
Delaware. Lackawiinna and Western, g2ao;
Lake shore. ls55; New Jersey Crntrll 7.7s0.
Central. i75o; Delaware and Hudson Canal,
zoe; Northwestern, preferred 2,loo; Rock
Mail. i4oo; New York Central. I,2i6; Illinois
Central. 9I5: Union Pacific. 2sO; Consolidation
Goal 2co; Chicago. Burlington and Quincy. l6I;
New Jersey southern. 100; Quicksilver pr'for-
rcd. 10; United States Express. 80; and C.. c..
The gold market took n downward turn unlor
the inilu"n Of free reali1ations Of tho late All
vince, added 10 fr'sh short contracts based
upon belief that the Senate Finance Commit
lee would on Thursday report faVurahly on the
Presidents message concerning The specie re-
SUMPTION nt. The price yielded from los . 10
closed at the carly figures.
The following were The pam, ipal transactions;
1852 1852 i S ia N iS i5FS IIo,,
In sag ic a,, pant d AZ 9a,as eaan.e' carried
The total clcNripss 90 if God T. thAuso Department
were 't,- - .9d balance, si'i.'li and ,urrcnoy
nthl.d honi and paid out N com interest on tic pub
racday business AZ No rni'cd state. sub Treasury
w4'' cod l',tipt, s-S'",; ~ seld pa,m'nis, si'
~-'.-"'e currency payments s1i'.f,i1N. rulr,.l.y