The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-07-12
FINANCIAL ISD COH.uERCTAL

THURSDAY, July 1l-P. M.--The operations
ut the Stock Exchange developed an active and
higher market at the opening Of business and
under tho leadership OF Lake Shore. Delaware.
Lackawanna and Western. and New Jersey
Central. strong tone was impaired TO the early
dealings. Lake Shore took the lead and before
tho first board. advanced from 026 to 63. buyer
8; although subsequently the transactions were
characterized by more than usual ieverishness.
which ut the close was reflected In q decline In
this stock to 6lh. the final figures. The bears
did not appear in full force until late in the day.
and. for some reason not yet explained, those
identified with the upward movement in this
stock did not offer any resistance. During tho
morning. however. the bulls were free purchas-
ers. and the days operations would seem to in
dicatc desire on their part 10 further mystiiy
speculative circles. Delaware. lackawnnnannd
western; which az the opening advanced from
Gl'. to Gls. was later vigorously raided hy the
sisted by unfavorahie rumors from the mines:
and New Jersey Central, which sold w from
Northwestern common also broke from 52h to
5lt. and the preferred from 79is 10 7Sk ST.
5l,. to 5i4. although egrlier in the day having
sold rs low MS 5ib. Tho preferred was = p
cent lower, having closed at sis The lowest
points OF the day. Cleveland and Pittsburgh
WAS quite active dut.ng the morning ut an al
vance of IL y cent. 10 s3's. and Chicago. Bur
lington and Quincy sold up ? cent 20 49,.
subsequently dropped TO 16A, and Delaware
and Hudson WAS down Ia q cent. to $751;. in
sympathy with the weakness Ia the other shares.
Morris AMI ESSEX DECLINED y to 81 aud
p ccnt. lower At Gag. Western Union :. AT
50 Pacific Mail ?. at l7s. and New York Cen
tral ?. at 1898.
The market closed unsettled. and the tactics
OF the day were not understood by the smaller
Operators.
The total number OF shares dealt in was A.
800. OF which Lake Shore represented 40 500:
Erie. 1920; Delaware, Lackawanna ana West
ern. y $50; ST. Paul $500; do preferred.
1900; New Jersey Central. 500: Northwestern.
1000: Do preferred, $500: Cleveland and Pits
hurGh. G 100; Chicago arlington and QUINCY.
Michigan Central, 600: Morris and Essex
2s9O; Pacific Mail, l75O; Union Pacific. 1900:
" stern mon. lSOU; Wabash. 500: Rock
Island. 500: Chicago and Alton. 375; Missouri.
$50; Ohios. 400: G.. {. ana l. C.. 100; C.. CO
and l.. lIl; Hannibal aud st. Joseph. loo: II
nno.s Central. los; Ontario Silver. 100, aud
Panama. 25.
Gold remained dull. with all OF the sales at
100
IN loans the rates paid for the use OF gold were H.
q cent. and nat
The total eloanngs tho gold department n the stock
and currency balances sssj5 VS. Iho sui Treasury
redeemed s5uon ~ called l'enis aud paid out IN
interest on the public debt. s23upb1
The Internal revenue receipts At Washington TO dav
were <2nusl. ant the Custpius recent. siDpup The
Treasury also received 81 $1,000 In bank notes
me Rank " England gained eaio U during the past
woes, hut lost AJu.OO on hAHuce tu-daN
y sn Nchanfe ruled nfmer AT Al advance 10 81 sax
and "a So tot time and demand drafts
IN ihv money market call loans pledge Of approved
stock collateral werr offered NJ q cent aud nrstcass
commercial paper passed Hta.ti
government bonds were les. active but closed nrm.
Inc following were tile s T. NJ. closing yuces.