, 1881-07-25
PHILADELPHIA :
The sfsml1s'' aud - Bears >, III Producc q
and Railroad Shares Excited and
Having I.tve1y, Flights. i'* :.s''

The IS lsuf1sn aud 3" Bears ), lit Prolucc
and Railroad Shares Excited and
Having Ltve1y, Flights. Y, ~
!, spseiat Dlspaseh sqs1ht Cateaao 1yIhuns.
trHILAnE1.trslA, Pa., July ysi.-0corye q. Picrie,
Secretary tf tho Commercial Exehnn4c innux,-
rate.l With the rrst call this morning onu Of the
f6af sF0lt16T sS1ao61 5V6T hi'Ii Ia that body.
AL day Fttiay.' tho, fcvnrlsh -'stato nr
the Ernl0 market 'wny the topic OF con-
vcrNtton MN0nX those unfortunate spccuialors
who had t'ecn tts,nx on tholr iuvostmcnta for
the Inst tFsok, and The opening Ut tho nonrtl this
lnorllIuR was nnxto,.sly Awaltc.l Long hef0re
The appointed h0i,r excited lEtttp groups OF men
st',o0 talking earnestly Ia different rafta Of tho
inarl,'e-tlonrett chamber on tho possibilities OF
tho market rceDyerints itn tone. The "bears"
were quietly inb'iant, while tho few tulis"
wore MI anxious mir, y tvldnntly prs,.
pared for still further decline In
Vrites. While the bids on corn wero
uolug u.ado, running from 5a.t cents 10 17,;
co1ts. With 81 CENTS asked, tho excitement was
noticeable. an ADVANCE Of nnc-hnlf cent per
>Mshel OIL Al,gust ehFn gAvo s0tne hope 10 the
"hu,'s" that The rest Of tho market would act
IN sSippathy, but their faith weakcncl al tho
day ADVANCED with only IL cauts BID and 57!,
CENTS nskcd. After tho call Of OATS which WINS
characterized lly remarkable lead OF Interest,
tho first eaft'w ualo on wheat, and a scone
nf"rxnttlng confusion. followed Tho ''beArs,"
following UP their advantage ::Or the ,lay
t'eF0rt. rnaha fnEnhty pfofts to .icpress prices,
aud tried hard To load Up tho "bults,r WHO bo-
0an1o frightened und dcmoraiizcd. Hslc after
sale was made. and still the t,lurket dropped,
l,nttl $i..i WIS ronched, ltuline at Six cnnta
per fllauhbl from tho hlRhoat figures Of the pro-
viouA week. and or fon FNnts At the areMlnK OF
the taonrl gu Friday, and 1T twu eants Mt Its
oioso an that day. Nor did ths panic ceasb after
aIllaurnmcht. for thora was v atiI further dc.
ykfn r,F - -
u'cloek. A prUu1t1ent grain brokarssfll yesten1ay
that tho lossas 'urlnx the last sn,lr days hayo
reporto,l. "Thc yioIation os ds 81 tha M r,,lss ot
sma6iy rsilibis tio,,sa Without ,' rs!rn. M msr. n
yin. may he said. i" xlva rsu 10 3,nla trt1lilH
when !he ho'sc l. nailed u.ol. *.ntlcny to stand
atc allnst ,a,i,al In vait III ihe traiIsavtitsn il
lnlt,sylsAnia Itufrond shares III lilo Stuck liz
!hs interest Of u vlt1ie.- Tin present
II ttn1sy a lriess T. attrlt.ute.i o a yarluty
y r. sal!s1s ms, EsMtleaA xllo ma.e stu1y yr
g chvaku a,Hi cleinnati sisxtislasa, purity II
iarxn antisss; ehd ~ . ;us r..
ports 1t short american arpp. The brdak in
pt's xHsns2 asorls:l IN t,att .s!'4tp taanlp!I.
/ 0vNrlnkA Hnr tntIase.l yRlt,us.
Those VIZ aiu'oat pa!sl.ta stocks ty.day after
lowest pnnt il thTe i!.t,lts. shorsiy % artur tie t
si..as t!ara; Tor aar EsrhaaYs INV s!otes tws.
h0utn sMrlitr 1RAn ll kuw, York. thd rnpl
weakss,Inx e. she '!arkst g that ely wus tateH
tho fsos!!!snt. aad kreIP g brokers esasr IL
u ts Exessse Tns ssn1 ot = usasts sns .0f e.
auoa ~ tl,na. Sw!.l. lnt ) fay hotiss sep.
rGssntad. was y: work. nf tunsIlsrHb,u
risk. Autl hef0te tnnny aNleA but been nttacttal
thore was nn ,lEly drop from nl0atng prices. TIM
tr,!.i!u8 III lilo NHrthef Pacific atuekA wHk ycr,.
aetlye, howeyos. Private to!eErauA from Nav
York c0ntanlnK quotations Tor thpiu can't tMts
tarlnx down from Ihe ollica w!9.iOws Of ihe teIa.
Rsaph companies IL the pos4tl ExclNnya i,llli.l-
tx M ~ snd wsrs ;hs essl: pf larxn ll7.saailons
u 70 tsil "! sa!sa ~ <otpe a40 aasres of stuck,
shares sAsnf!nx G1al* iehigh WI eres,si
h,,tfs!" fun :::i tSE!1. when Nex y.rk otist:
NY. !.,,a!!y ~. Ihis position u al'aIrs was
pe1!l,nls ~ frlHhten s9l1e Of tbs gtuaIler 0per.
9tuta bully. Wien Otte nr twp prnfniht,,t
ho!!ssa cat.lg % the tesc..o .tta sueoset!.:i
n 4: EallyinY rrlees aud retaining rualdonea with
~! it!9 !, a!i!ya!ty renSsy!ysnia recovered fron.
y strsaly nFa, Ssrshsfa h!sas ffeferTst| fiqe.
4C0 HUftnlO fE1lfD 91&s l. Vi hid ''