Morning journal and courier., 1883-08-17
fiinantiaI.
NEW Yonx, August le.

NEW YORK; Au8uAS 10.
 There was q stin further improvement in the situa ton of affairs in stock speculation to-day the be- lief general that the crisis had been safely tided over There was notable subfidence of the excite ment which had ragged for the three preceding days of the week and more confident tone prevail ed. As yesterday, hours before the Exchange opened there waR large crowd of brokers, custom clerks and messengers assembled in the streets in the vicinity of the Exchange and there ani
 mated discussions by knots of brokers to what the course ef the market would be- The opening of the dealings WAS marked by nervous excitement, spscu- lators net having any well dennsd ideas to which way prices would go but after little confusion at tending the first transactions 1t found that were on the advance. The advance continued with 8 good buying by the shorts throughout the hour of b7sinass. prices at 1o:S0 showing advance of 1X per cent. Among the Vanderbilts Michigan Cen tral WIS conspicuous and advanced 1H. The Gould shares and Western Union also partici- pasd freely in the early rise. After the first board this sharp advance brought cut considerable sales the purpose of realizing the profits, under which the entire list declined Il to $, most marked fh the stocks before mentioned being the leaders of the improvement. From this until 12:3O the mar ket was quiet and irregular of the list recovering the ground lost by the reazations, while others nained at the lowest point. This notceably the case with Western Union, which exhibited remarks ble weakness and 1t was reported there quiet
 
 ed to be the large block of the stock WAS subsequently, thrown on ths market. Brokers sup. posed to represent Mr. Gould bought every $ de- cline, but notwithstanding this the prices touched the lowest figures for long time past being T This price reached shortly before o'clock. The rest of the list fell of sharply in sympathy As soon | the pressure to sell Western Union ceased the Gould brokers and others began bidding the price up fast it went down and during the last houl l the whole mar ket YVES strong The commonly ac cepted explanation for the decline in Western Union was inc accession Of Mr. Mackay to the Postal Tele l graph company and reports of greatly decreased earnings by the Western Union. There were also re ports of the company passing the next quarterly div | idend The stock closed, however, $ higher than last evening. The Northern Pacihcs closed 21S and per cent. higher respectively, Canada Southern IA | Burlington and Quincy and New Jersey Central 11 each, Pacific Mail 2, the Omahas and < respective ly and the Northwestern IS and respectively. IT the specialties there was marked advance to-day The most important was a rise Of in B., O. R. and | shares.
 I Money loaned at and per cent. du,ing the fore noon, but eased up little after o'clock when ths I rates were reduced to 2HaS. These were the fna ! rates.
 ! Exchange was weaker, and although there was nc change in the posted rates, there reduction o 14 per cent. in the actual rates The posted ratei | were 4S3Sa4s7 and the actual rates were down tc 4S24a4S2k for sixty days and 4s6 for demand I Governments closed Arm.
 Closing prices reported over the privata v,ras o | BoNNELL SCRANTON, Bankers and Brokers.l