New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-07-22
FRIDAY, July PIP. ".

FRIDAY July III NJ
The stock market continues quite dull. The
season is trying one for bull spectators, not only be-
cause the heat has driven large number Of the SOLID
men out Of the city, and thus deprived the market OF
that support but because recent events have impaired
public confidence in tho strength and permanence OF
ciaue operations For two three years past we nave
had speculation tactics in these clique movements so
much at variance with former practices that many
veteran of the Stock Exchange has been puz-
zled and astOnished. According 10 the ola
mode Of conducting such speculatons, a party
Of operators, taking favorable time would quietly
buy up ten. twenty thirty thousand shares oil some
stock considered cheap from its Intrinsic or prospective
value, and then, having, by skful manipulation, car
RED up the price to points where fair profit coud ne
realized and having established at the same time good
market TO sell on it customary to "unload ana be
satisfied In these latter operations, however, there
seems to have been limit to the amount Of stock which
should ue purchased and scarcely any TO the price which
they were striving to establish And thus, aer seeing
a large advance, 4" the old fogies," have Win
some expected to reaction and lower prices
All in yain however, for the cques OF modern Gays hot
only buy 10000 or shares but have generally seemed
10 desire the entire capital stock. The Rock Island break
down Is the serious defeat these gigantic specua-
lions have met and its lesson has been sanitary IN inc
end this interruption viii work the advantage of the
Stock Exchange and its members; II will weaken the
power and influence Of these huge gOrmandlzers and
give the smaller fish more water in which TO swim.
The market opened weak at about the latest official
figures Of last night and declined at the First Board,
but subsequently stcadied under an Improvement in
Northwestern stock, which has been the center Of
speculation during the last two OF three days Union
Pacific made the most decided advance, and rose from
262 10 ga After the transactions of the morning the
market rcapsed into insuferabe dullness though at
times during the afternoon there some spasnodic
activity fresh attacks made certain shares
Northwest was thus driven back from g. 10 6jf the
Preferred TO 67s, and NewYOrk Central from 9Js to
9j4. Lake Shore severely let alone, the I'M
certainty in regard 10 the intended action Of the
Directors next Wednesday not being calculated to en-
courage speculation in that direction Ohio and Misss
sppi under the continued support Of the clique remains
firm and Wabash steady the business in the other stocks
being Insignificant. We note sales Of Michigan Central
ct 1908: Delaware Lackawanna and Western, 10s 0l09
$. Louis and Iron Mountain, 594 and c. Q. and l. c.,
i GIsl. The attack made Western Union Telegraph
WAS continued to-day, when under the pressure OF free
sales the price of from so to so. Pacific Mail
was steady and dull the coal stocks being weak Mary
Land falling back to 80, and Consolidation from i0 to 31
In Express shares, Adams strong and higher al 81
the other Expresses being, neglected The following
table the highest ami lowest prices OF active stocks
made today