National Republican. (Washington City (D.C.)) 1872-1888, 1879-11-22
FINANCE AND COMMERCE
M0NETARY MATTERs IN NEW YORK
IND SIN FRANCISCO.
New York Money Market.


NEW YogK. November q, 1879.
Money was rather stringent and lower, up to PIC
per cent per diem and per cent interest, but
closed easy Mt per cent.
Exchange weak on n light inquiry at 4S0@4Sl
for long aud 1897 for short sight
Governments quiet and steady
State bonds dull.
Railroad bonds heavy and lower In the morn
Ing, but strong and higher ut the close. Erie
to s2h; Erie consul frsts dropped TO llSA and do
funded fves to so. Boston, Hartford & Erie frsts
declined from 81 to 4slS Kansas 4 Texas consoli.
40 to 49, Chesapeake & Ohio iirsts series j, from
GO to 5SA and do currency Is from ~ TO ~
own 0Sdea,s6gTg c9n rs m rsi 5 &C.
Metropolitan do, i13; Ohio IL Mississippi seconds
to 100; CC&I c rss to SO; do seconds to 40; Great
road & Navigation nrsts TO So st. Louis & San
francisco, class A. TO sI19; do, class b, TO g. and
Burlington, Cedar Rapids Northern ilrsts to 90.
was characterized by intense excitement and ut
intervals the furry in the market almost reached
a state of panic. There was general rush at the
opening to sell stocks which was confined to no
special line, but extended throughout the entire
list. Prices broke rapidly. Large blocks OF Erie,
Mountain, Kansas & Texas, Wabash st. Louis Il
Pacific Lake Shore, Union Pacific, the Granger
stocks and Pacific Mail being thrown upon the
market and offered at constantly decreasing prices,
and in the first half hour of business decline
ranging from to20per cent had been established,
Delaware Il Hudson leading the downward move
mcnt, Wabash, ST. Louis Il Pacific sold down IA,
Union Pacific, IL; Iron Mountain, l3lz Nashville,
Chattanooga Il st. Louis II: 81. Louis " San Fran
cisco, to 1917; Hannibal II st. Joseph preferred,
10l9; common, G5s; Kansas q Texas, "a; New Jer-
sey Central IL Michigan Central, .: Wabash, Sls;
Delaware Lackawanna & Western, So Canada
Southern, 81; Erie common, sjs; preferred, s4 and
the remainder of the list / to per cent The
fluctuations during the afternoon were wide and
frequent, recoverics and reactions succeeding each
other in rapid succession. Late in the day, how
ever, the temper of the speculation assumed a dc
cidedly hrmer tone, and the impression gained
ground that the lowest quotations had been
heavy purchases prices sharply under the lead
Of the Coal shares the final dealings showing adj
vance from the lowest point of to ~ per cent;
Delaware & Hudson rose II per cent, New Jersey
Central 81, Norris & Essex "a Delaware,
Lackawanna & Western 80, Reading 4, Union
Pacific 12l4 Wabash, St. Louis Il Pacific common
"a, preferred Az, Iron Mountain "a, & q
q & | o, Erie common 3H, preferred 5A
Wabash & Kansas Southern 4, Kansas Il Texas
b5s, 81. Louis and San Francisco to 7, Hannibal IL
St. Joseph common "a preferred 81, and the
rest OF the list "a TO 3l2 per cent
Transactions aggregated CO., 600 shares. including
Erie 2l0 900, Lake Shore 5000, Wabash 1900 North
west 5000 81. Paul 1900, Delaware, Lackawanna
d Western $1,000, New jersey Central 10000, Della
ware Il Hudson $4,000. Reading 6,00O, Michigan Cen
trail 5000, Union Pacific l2000 q CO CllO00, Ham
nibal& st. Joseph 1900, Ohio & Mississippi $4,000,
Western Union 1i,0OO, Pacific Mail 1900, Wabash,
st. Louis Il Pacific 10000, Kansas q Texas 5000,
Iron Mountain 2l.O0O, Northern Pacific 5000, st.
Louis & San Francisco 5000, Chesapeake Il Ohio
1900, Nashville, Chattanooga " ST. Ions, 5000,
and Suro Tunnel 5000.
The closing quotations were follows.