Morning journal and courier., 1884-05-20
finantiiaI
NEW yoRK. May 1s.

NEW YORK. May 19 The Excitement Over-The Stock Ex-
 change Resumes Its Normal Condition
 A Day of Good Business With Prices
 Ruling Steady.
 The week opened in hnancial circles with much better feeling. The excitement and rush of the clos- ing days of last week had entirely disappeared and matters were going much as they were before the panic. Brokers less timid about negotiating business transactions and confidence appea:ed to be gradually gaining ground. The opening of the Ex- change, however, found falling of in attendance but matters went quietly and the rushing te ana fro of excited from stock crowd to another so noticeable Saturday and several days preceding was entirely missing more sober air pervaded the room and dealings were carried on without undue hustle noise. The sharp rally in prices during the last hour of busne Saturday led many to believe that 1t the beginning of boom, but this hopeful view was dispeled soon after the commencement or business. Almost the first prices began to decline and each succee ling sales values went gradually lower. There but few supporting or ders and of the bear operators who have not yet fu ly cornered took advantage of the situation to | hammer the list They circulated number of unfa- vorabe reports in regard to the standing of certain large operators the bull side. Added to these bear sh tactics the announcement from London that a heavy selling of American securities In progress and that number of foreign holders had cabed their brokers here to sell Under these combined in husnces prices kept almost steadily on the down | grade throughout the morning The bears particu- lary raidSd Louisville and Nashville on report that
 large 6eacit in the funds of the company had beeo discovered. This report subssq uentiy denied but the stock had in the meantime suffered sharp | decline. At noon figures showed drop of 3-6 to 6, the latter in the stock mentioned. From noon until shortly after o'clock the market compare lively and prices rallied fractionaly, but the 1nl provement more than lest in the next half hour ! al yyer day. About the only ripple of excitement that char scterized the days dealings caused shortly after the board. Just before the time for delivery | the chairman rapped for attention and when quiet was restored the announcement was made that the of w. B. Scott x Co.,, brokers of 34 Pine street, notified the Exchange of their inability to meet their engagements, giving the losses by the great shrinkage in values. Very little stock the market however, and further than causing mo- rnentary furry the announcement had no effect. Up to within nfesn minutes of the close the feeling feverish and very little business done but dur ing the period mentioned there brisk covering which carried prices up 1-6 to 1 from the lowest point. The closing prices compared with those of Saturday showed declines in most ranging from 1-6 5-s. Michigan Central and Canada Southern were about the only noticesOle exceptions the tive list. The former closed per cent higher and the latter 7s. The specialties generally weak and closed lower. The Eales to-day were 367, ,2cs l shares.
 Money loaned at 4a5 per cent, but in the last hour of business per cent plus and fractional per cent. per &em asked. The closing rate was per cent.
 | Exchange opened arm and higher at 4 s6a4 ss but rates Tor money the rates were reduced at to 4s5a487. Actual sales ASA for sixty days and 4S6 for demand.
 IOlosng prices reported over the private wires of l BUNNELL SCRANTON. Bankers and Brokers.l