New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-08
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WEDNESDAY. Feb. 7--P. N.


WEDNESDAY. Feb. 7--P. NJ
The activity of to-dav's stock market is renecteu
by the amount of recorded transactions-ooo'9o3
shares against $50 400 yesterday but the activity
was ACCOMPANIED by sharp declines IN value.
Irn1on Pacific furnished one -ffth-l11 300 shares
of tbe whole DAYS total DEALING and declined from
OILS TO O. Il and closed at 92% ST. raul contrib
uted one-seventh-S310 100 shares-and declined
from 1Ol 70 TO 997s and closed at 1Olls; and Della
ware Lackawanna and Western furnished another
o,.-seventh-SlO 900 shares-and declined from
122ss to 12O0121li. The stock next
IN amount of transactions to those
before mentioned Western Union;
transactions in il were recorded to the amount OF
4275 shares and all within the range of Sligo
sO1aQsl6s, with final sales at S1l2-the same as
last evenings closing figures. The remainder OF
the market was depressed in proportion with the
extreme dec ines named for the stocks mentioned
ami later rallied in like proportion. Northeast de-
clined from 1915 to 1295sa 1903, ST. Paul and
Omaha from 463t TO 45l2G45 Chicago, Burhng-
ton and Quincy from 1904 to 1l76s0l104, Louis
VILE AMI Nashville from 55l2 to j47sO55ls, ana
Michigan Central from 959s to 94's09o, etc, ETC.
The great feature of the day, now
ever, was tine severe blow that was gwen
to speculation i'll the house of its warm
est friends, by some exceptional Transactions
in Lake Shore stock As is well known. That STOCK
has been dull for 70 considerable length OF time
To-day the total transactions in 1t amounted only
TO II 800 shares, and that small quantity includes
the purchase of 1900 under the rule " to close
ontracts when some five six brokers had failed
to make deliveries at the specified hour-2:l0. In
stances ale reported of stock having been bought
in al $50 D. m. against brokers who had rendered
the stock before that hour, but after the delivery
hour of 2:15. The prices at which the stock was
purchased under the rule for cash, from the ros-
trum of the Exchange, averaged about L
per cent higher than the market price.
in the regular way, for the stock ut the
time the purchases were made. Under the
rule the stock sold at IL cash. while the highest
price (which was the closing hgure) IN the market
was 11Ol after 1OS5s). against 1922 last evening
The movement was a surprise 10 the market. ana
started a general covering of shorts all over tn G
list This is the principal reason why prices gen
erally did not close near to the lowest OF the day
But the generally expressed opinion is tnat the
movement will 90 far toward reducing the specula-
ton to even smaller dimensions than it had before
1t is necessary TO add that although the movement
was In Lake Shore stock IT was not Vanderbilt"
movement The market closed fevcrish and unset
tied at prices generally q TO Zig per cent lower
than last evenings figures.
Government bonds were dull strong for the liked
dates at unchanged quotations, and weak for the
optona issues ~ declines in the bids OF as per cent
for the IS and y per cent for the Gigs Annexed are
the closing quo atoms: