The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-01-17
FINANCIAL AND COMMERCIAL.

WEDNESDAY. Jan. 16-P. M.-Thc spccula-
ton at the Stock Exchange assumed u decided
ly stronger tone Mt the commencement Of bust
ness. with prices opening lsn's q cent. higher
than closing sales Of Tuesday. and from these
points there was an advance ranging from y TO
Ia 2 cent Lake Shore led the speculative list
and There wins observed as much anxiety among
the bears TO purchase rs noted yesterday to
realize. While the covering process continued
prices steadily advanced. but the market reacted
soon after midday. though becoming active in tho
final hour. when the best figures Of the day
were generally established Lake Shore adj
vanccd before midday from 60 to COS. though
later reacting to COS. after which it moved up
to 81 a. and closed at the latter figures. The st.
Paus recorded rally Of = and p to 49,, and
Co., for the common and preferred respectively
while Northwestern common at the same time
rose from 3js 90 Sc q. and the preferred from
6l5s to G2s. Eric was a better at %: New
York Central. "a at 1867. and Pacific Mail adj
vanced | y from 22'i TO 1917, as against 2iK on
Tuesday. In consequence Of n consummation to-
day ofthe purchase oftho Panama Transit line of
steamers II is understood that the Panama Rnil-
road Company loaned the Pacific Mailine sl.-
uOO,OOO with which to complete the negotiation.
0hios were active during the morning at n fur
ther decline from ~ to Z. based upon reports
that the holders of the second mort gage bonds
Intended TO soon commence proceedings OF
foreclosure; Out tnere WAS n recovery 10 -.
buyer 3. Mt the close. Rock Island recovered 3,
2 cont TO 99i4 and Illinois Central ,. M 7l'a
though the advance in the latter, was suisse
quently lost. c.. G.. c. and l. rallied p cent. to
s. as compared with Tuesdays sales: and
Cleveland and Pittsburgh sold at 7i& Mchi.
gun Central ranged ut GOg6OA, 0Gua 60 = A.. and
Western Union. after selling down O.. = cant. nj
The opening TO 75A. ruled strong at recovery
The coal stocks were feversh and excited.
having been strong in the early transactions at
an advanr,9 rom 5OS seller 3. To 81 = in Della
ware and Hudson, with Delaware. Iackawanna
and Western rallying from 81 70 5lia. From
these points both stocks suddenly broke to 49,
and sos respectively; hut the latter again raj
ried tn 81 q ~ the close. and Delaware and Hud-
son TO 81, after announcement that meeting Of
tn r"pr''.s natives ~ the COG, corporations had
ranged during the day At - "a 75tm7Ig75.
and New Jersey entral at II idl1i In 30 share
lots @l6s for $ shares 0ll7al7's buyer 80
Union Pacific closed at ca. having previously
sold nj Gu.
The trustees Of tie Bankers and Brokers
Association. which II will I've remembered sus-
lions, met today aud reorgsnized by The cleo
q9m 81 bca ao H. Br e5 H. Gn1n nSs
X. Warren. and u. +. Alexander as Directors.
and Mr. Hartas Vice-President.
I2as30. of which lake Shore rSpresen,cd
N99S Delaware. Lackawanna and Western.
d. 'I rref"rred' 226o NorRwesiern" & s5G TO-
preferred $500: Ro'k Island. ASSOC Delaware
I PaS Hud s s22 ESc % yS 2o S 9% 55S
New Jersey Central. G5s; Morris and Essex.
| 40; Union Pacific. | 400: Wabash 900: c..
C.. c. and l.. 500; Cleveland and Pittsburgh
4s0: Illinois Central. 500; Michigan Central
500: Harlem 200: Adams Express IFS. Hanni-
bal and 81. Joseph preferred. 100: Chicago and
Alton preferred. 100 and Panama 50.
The gold market reflected more business and
the price rallied from l1l's at the opening. to
lo2 but closed a, 1902. The short interest has
been considerably increased during the past
week
rh' following were me principal quotations
10 fs 4 VI iOifr ~ ~ v. iNi7. II " \ Iun
lpt5N NJ. ~. II ~ 4 VI. .iulis o0f NJ IL.
In loan. the rates raid Tor having balances carried
were 90 aul ga, ? cent
tn tots, cearnss ~ fAc gold srtncnt tho stock
Exchange were Sl7H7tpH. sold balances ~ -lV ~
and currency balances - TO- - o., subj Treasury d,
deemed s;i- 90 100 called bonds. and paid uut ia coin
interest on the public d,nt si77no
The days business ~ the United states srh Treasury
Wa Gold REGENTS tl2 90 ~. gof payments a. ia7
49, -. gold balance. sIul 90 H. not. recrpt.
- N+t 100 - not payments ~ -tf27' g. note balance
SAJ "li'l5 13 Customs. Si~iifN Cancelled .ud GER
al tt'> .rnt tn q ii'i ~ilirs Treasurer s.tlu0p
INe lNf nhI revenue receipts 90 Washington TODAY
were s-'.e. anu tAc customs receipt 9ttstIn Il.
Treasury also received s"7NucJ IN national bank note,
Tor redemption
Foreign Nchanee ruled firm fnr time rans az - sii
but short sight bills were reduced g. a. -
In the money market call loans approved stock col
lateral ranged A. 7tl e cent with Nnal egoauus AZ q
fnm. eHnule ace'i iances passed AZ ss7 accord
Ing TO date ~ maturity
Govcrnmeut bond. were arm AMI in better demand
Registered i-hs. new. sold At ua fiGi. coupon l-s7,
AT issluifs coupon 4 at lut . anl coupon - r cents
~ Qi tho registered at luI's slois The tone IN the
nnAl dealings WAS strong