The New York herald., 1875-12-21
FINANCIAL And COMMERCIAL.
Stocks Weak and FeVerish-
A General Decline.
GOLD ll3 SIS A ll3 "a A ll3 3-S.
Money on Call 6 and Per Cent-Railway
Bonds and Government Securities Steady.
WALL STREET,
MoxDAY, Dec. 2O-6 P. NJ.

WALL STREET,
MONDAY, Dec. 20-6 r. NJ
There has been decidedly business transacted
to-day than for time past and an equally decided
weakening of prices In fact the activity was due TO
the decline old shorts seized upon the favorable
moment TO cover and now shorts fed the market with
imaginary stock.
II curious contradiction, but It is neyerthe-
less true that the short side OF the market is often
the investment side Non-dvidend paying stocks
must be luggcd along at expenditure for interest
that often eats up the profits Of considerable advance
while stock sold short for future delivery constantly
accumuating interest the amount Of the sale. In
word the short seller is continually receiving interest
on other peoples money, gathering ngs from thorns
and resplng where he has not sownn This pleasant
process safe enough provided there be rise in the
market, but II not unfrequently happens that
turesome bruin falls into arully concealed trap
encounters ''corner" which he cannot turn, and he
finds his claws cut off most uncomfortably short
Lake Shore again the centre OF attraction-the
t'held Of the cloth Of gold, where knights tilted
they have done for weeks past the prize falling to-day
60 the vicors who bore rampant their shields.
There was just per cent drop between the open
ing and the closing prices though the effort sustain
the favorite bold and persistent.
Evidently the order had gone the bull party
to 'hod the fort" but bears hungry and went in
tooth and nail with the results we have mentioned.
There did not appear to be much realizing the part
OF tho Robinson Osborn party in fact, the temper of
tho market such that no large amount OF stock
would have found purchasers without serious conces
sion in price, and the effort seemed TO be rather to
avert fall than to get rid of their holdings There is
doubt but that the short interest Lake Shore
been materially increased by to-days transactions
things may be made unpleasant for bruin before the
end OF the week.
The closing of the year and the snening rates for
the of money stock collaterals joined other
reasons frequently referred to in previous articles and
which still existing, render the present very
tnausplcious for upward movement of the general
market In fact, the temper OF the Stock Exchange is
bearish and there is general desire to SELL not only the
shares on the list, but the personal mpedimenta Of
members to their Lares and Penates, which, as
advertised on the bulletin board range from solitaire
diamonds to setter pups. There but one bulletin
board bull noticeable to-day and he desired to purchase
a-lifting machine. When it became known that the
advertiser prominent member OF the Lake shore
combination his solitude accounted for.
Pacific Mall oscillated between 80 u and 3sI closing
1nally at medium figure 1t is understood that there
puts" still running at 49, which viii tend to steady
Che stock until they are due at asogt present figures
= Thsrs Is much diversity Of opinion IN regard 70 the
large and profitable business its enemies asserting
its utter worthessness the reports of reduced run
ming expenses and economy in coa and cargo space in
the last ships reliable the stock would be dan
gerous TO sell short at present prices In this
tion II may be stated that rumor ascribes TO Mr. A. B.
Stockwcl the accumulation Of very largo fortune
by operations the Paris Boursc, which, with the
fact that Mr. Scott the President of the Rcifc Mail
Company is now in that city, may possibly induce tho
nrstnamed gentleman to fix up his little matters with
the steamship company, which were left in dis
.pute at the time OF his embarkaton.
New Jersey Southern, whose life blood was sucked
day by day by Jay Could sold to-day at 81 per share
It proposed organize infant school in this stock
for the young and verdant board members who deal
ing at this nominal figure will presently be bold and
accomplished enough to fly at higher game
Our old friend Michigan Central have sprung
aeak again. for it fell OF in the dealings from 59k to
5sZ, and even sold at 81 $50 u per cent below the
regular price
Money closed up strong at per cent bid having at
time loaned for gold interest This strngency is
not likely to last the first of the year. when
money which is flowing into bank to be in read-
for dividends and interest, will be released and
again 6nd its way into market reasonable rates
SALES TO-DAY
amounted to 96 400 shares which were distributed
among active securities follows:-New York
Central and Hudson 800; Erie, $500; Lake Shore,
"a 900; Northwestern, $3.50; Northwestern preferred
800; Rock Island, SIS; Pacific Mail, 26 $50; ST. Paul.
SIPS; St. Paul preferred, 3,1Oo ohos 2,ooo Western
Union, 1900; Wabash, 400; Union Pacific, 1000;
Panama, 800; Michigan Central 8, 800.
ADVANCE DECLINE
The changes in closing prices, compared with those
OF Saturday, as folows:-
ADVANCE Atlantic and Pacific Telegraph, Y; New
York Central u Erie In London, a.
DEcLrEE-Michigan Central, l7S Eric, "a Hannibal
and st. Joseph, u Lake Shore, q Northwestern COM
mon, u Northwest preferred = Ohio and Mississippi,
u Pacific Mail, u Rock Island, x ST. Paul common
ana preferred, y Toledo and Wabash, =; Union Pa
cidc, * Western Union II New Jersey Central 4.
sTATIoSAEY.-Qu Quicksilver, Panama, Delaware and
Lackawanna and Harlem.
OPENING HIGHEST PRICES.
The following table shows the opening, highest and