The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-03-13
FINIyoLIL 1ND COMMERCIAL.

MONDAY, March l2-P. M.-The fierce
struggle betweep the bears and the bulls was
opened this morning with vigor by general
sale OF the specialtes, This was foreshadowcd
In our last issue. and the onslaught was
heavy that the whole list yielded to persistent
attacks.
Tho coal shares were the chief sufferers. but
Western Union. Michigan Central. and Lake
Shore staggered under a decline of 5s@li 2
cent. The remainder of the market sympathzed
with the movement. New York Central selling
as low ns 95'6. opening at 96A. At noon. how
ever the bulls were reinforced. and some posi-
tions lost in the morning were reganed re-
pul-ing the too confident bears. Lake Shore
advanced to 5Oss Western Union Ia 6iis: Della
ware La kawannu and Western 10 81 Delaware
and Hudson -; New York Central. 90; and
the advantages We're we'll maintained. On the
anmounccment OF the decision Of the Executive
Committee Of the Western Union to recommend
the payment OF the usual dividend. which. by
the way IL equivalent TO is declaration, the
stock sold at 6I's and Lake shore ut JOI The
coal stocks. however, failed TO sustain the adj
vance. and great weakness soon followed. about
the lowest prices Of the day having been re-
corded for Delaware Lackawanna and Western
and Delaware aud Hudson at the close.
.. There II a GROWING impression mat the at
road shares ar" based upon a conviction that
the recent decision Of the supreme Court in
favor ~ til" Grln-rr- VIII cause great trouble.
heretofore the Granger movements have been
confined 10 the far Western corporations. but a-
tn" law Is applicable To- all sections OF the coun-
mania will yet reach the Middle and Eastern
States. II this prino should be enforced in
would be ut the mercy Of the small coal upe
rators. who have hitherto done business only'b
the permission OF the combination. who estab-
shed such local rates rs would preclude any
possible profit. The same may be said Of the
delphia. Baltimore. aud Bosom with the West
II the rates OF transportation are to be regu-
lated by the Legislatures. there will be no ne
.
magnntes. Each State would fix liz rates for
tn" 10. al as VOL n The through business. IL is
well known that the through rates boar no pro-
charsc- ARE estimated. These excessive charges
p'usat" M degree. al least for the Losses
On the through Transportation. In Illustration,
II may b, stated that shippers at many points
1n the Erie Railway Il great distance this side Of
Bunalo can save money 10y paying the local
rates q Buffalo, ana thence trnushipping the
srAme 10 New York under the through tarr.
roads IN New England. where The shorter
distance i subject To- 81 T. cent. greater tariffs
lhnn the longer haul. This also applies ~ the
Baltimore and OHIO. P.nnsylyania Central. New
York Central ami Harlem. The Increased
charges on me mix trans inrtation alone of the
on IT. me- anu uine,"~sarlly increased The
price ot this commodity a. consumers. Now. II
me aill i2n", in . R.w prnpe inapisarai-t
this point IL would he d.iiieuit Tor the Harlem
e. earn il regular 7 eent. which it receives
from the New York Central. The same may De-
said Of other roads. and the result of this recent
decision hy the supreme Court may afford an
explanation of the bold attacks upon the larger
railrpad corporations al the Stock Exchange
during the past few weeks.
The total number of shares dealt in amounted
o. III .sg3. of which Delaware, I.acknNannn and
Western represented 81 $50; Western Union.
2hhjn; LAX" Shore. 22.2ju: Delaware and
t.9l2 Michigan Central. $500; st. Paul. 10:
y. Paul preferred. 5000. Atlantic and Ia i'll
Telegraph. 300 Rock Island. l2oO: New
Jersoy Central, l.iOj; Ohos. 200; Pa'ii'
Mull, llOj, N0rlnWU stern preferred. 500;
Quicksilver, 500; Wabash. ll2 Wells Fargo,
900; NV Jcrscy South m. POO Morris aid
!; g., 200; Chicago Burlington and Quincy. luO:
lipnnihal and s.. Joseph preferred, 100; an
Express. 9j. Clay.mnA nud Pittsburgh. 81:
Chicago and Alton. II; Fort Nuyur and United
s4ai,s IN 49, ~ 10 ;"ni Illinois C"niral Is;
d"'ln'd from lnl' ~ vine opening IN lui p, tut
: su''- 1u'nlS rc,.o> .rod 10 lM M which
eyer. WAS restricted
fIo "lowins were the principal Transactions
ioo@%!ftHH iiaaiH' 'ittfANE iiooii. a5@FFN }ooi
Iqmln.ihc raes pa iog 'iut balances earricd were
ne iotnl cle,nn-. r. 'hc Con EXCHANGE .pepart.
currency balance 81. 'l. .tN lI -I. rtA-urt rri,lH.
oi f"W ''l. n..uI. 'nl ltA out 40 com lntyi,-t
me d'1 hnHne,. a. r.. .rot states san rroa.ur,
ie.au,, s't''. ,-' n Custom. -,-'.."
enrg.' s7n..." anl c.u '~7' '. i,,. a..
r.e.nc> l,0-c continued quiet 60 Hle ,aotauans,f
Money j, WITHOUT chmre. rhe ooa'm i.nl'rt
i,.o ih'ir uul, Vl,l. 800, r.,,.,, ,,i' 20. ... 10
'"gu,rt,f ,r.' ar-t c'l.. iai lctuo'.l ai l.t 81,
a.'rru.a.i .a'. v.ro .'.ad. tf. ,i.nd. ly.,...
'neiolysa- 1', tsra l..a. .au,
RS ou. q. III i.'. SO. ,sr.. 81