The New York herald., 1875-12-30
FINANCIAL and COMMERCIAL.
Stocks Dull and Compare
lively Steady.
GOLD QUIET AT ll3 A l13 IA A 1l3.
A Hardening Tendency in Money-Call Loans
Per Cent. Gold. and 1872 Commission
Railroad Bonds and Govern
ment Securities Firm.
WALL STREET.

WALL STREET.
WEDNESDAY, Dec. 20-6 r. N.
An unfortunate typographical error in our last
money article placed the position Of accusing the
Lake Shore party Of "borrowng stealing exchange
OF course what did mean, that they had been
borrowing sterling exchange" sufficiently clear
to most persons, but the misprint none the less
annoying.
In this connection II may be we'll to state that the
report Of the amount borrowed TO be somewhat
exaggerated. and that it approaches the sum
OF 81 600 900 than So 600 000 rumored yesterday
While this operation undoubtedly supplies the clique
with large sum Of money with which to carry their
stocks for the next sixty days. virtually places them
short of an equal amount OF gold and on the rise
fall Of this latter will be determined whether the bor
rowers have pad dear for their whistle" or not II
within sixty days. such time possible renewals OF
the borrowed sterling bills may permit the Lake Shore
holdings can be proftably marketed and the coin
bought in at existing lower prices the operation will
be paying one but in Of events shaping them
selves contrary there will have been created much
additional expense be added the FIRST price of the
stock
Certainly the present writing things do not appear
auspcious for the Lake Shore pool Unlike that of ST.
loan the the disturbed by the operative
brothers the less clean do these latter appear get
In fact it looks seriously if they getting of
their depth and II may shortly happen that Boyton life
suits will be more in demand than sealskn coats The
Twentythird street party too, stand ever watchfuy
upon the brink, ready to duck each adventuresome
swimmer that strikes for shore and higher prices
Recourse has been had to what DR.. Johnson has
called the STOOLS argument''-vz., betting the
future course of the stock-and sums numbering well
up in the thousands have been wagered that it would
and would not sell at 80 during the coming year.
Apart from the general sagnation in business which
have before alluded to rendering the present
inauspicious for rise in the stock market Lake
Shore is unavorably affected by the uncertainty Of
Commodore vanderbilt's position in respect to the
same. He is accredited with having disposed of his
holdings great extent and to have transferred
interest TO the Canada Southern roads, as Offering IN
connection with New York Central. more ready and
expeditions line OF rail TO the great West The fact
that Is is bid for the stock of Canada Southern to-day
when 1t simply without quotation few weeks
back seems to give color to the reports above
ferred to-
One thing is very certain-the present clique In Lake
Shore have been struggling along for month
under a gradually increasing burden. Like Snbad and
the Old Man OF the Sea, they neither dump their
load carry 1t with comfort The market price has
rather receded than advanced and though there an
occasional upward Spasm HlSHlens weakly pears
to cover ''Ursa Maor still growls dehantly and has
notion Of hybernating just a: present
We have dwelt upon the condition Of Lake Shore as
it is the feature Of the market and because all other
speculative stocks for the moment take their from
Its fluctuations We dismiss it with the observation
that to-day for many past II was the centre OF at
traction. Transactions possibly not large
yesterday, although the closing price showed decline
of hard to one per cent from the best quotation Of
the day.
There was q brilliant opening in Pacific Mail which
reminded one of those jolly junketng days when the
managing Director held high festival upon the City
of Peking But alas prices came TO sudden grief
did the vessel we have referred to- The Twenty third
party, which TO be the bse present
of all bull movements early appeared as sellers of the
stock, and on the marketing of $500 shares the
price fell of to the lowest figure Of the day where
persistenty stuck until the OF business as though
stunned demoralized There some effort made
vtalze Northwest preferred by bidding ST. buyer CO.
for / 900 shares or OF per above the regular
price, but the proposition looked upon as chaf
and the birds too wise to be caught by the spu-
rious article the effort failed.
Union Pacific was, usual in the absence OF the
lavatory left to its own devices and there was mini
mum Of sales Some turns were made buyers OPP
tions for 60 days, 4 of / per and per cent
interest being paid for having the stock for that
length Of time This rate is not excessive in view Of
the unpopularity Of the stock among money lenders
and the stringency of the money market to day
Bank accounts were made up with some difficulty un.
less borrowers willing to submit extreme rates
although time there dearth OF the needful
Loans made as high as 1872 and Interest on
CALL with mixed collaterals although 60 day money on
pledge of governments freely offered per cent
Taking It altogether the day dull and uneventul.
in the old Latin line when
Parturient montes, nasciter ridiculus mus,
THE TOTAL TRANSACTIONS
we're only 49, 200 shares which distributed among
the active stocks as foows:-
New York Central and Hudson 100; Erie 100.
Lake Shore 81 077; Northwestern 500 do preferred
l,75O Rock Island 500; Pacific MAIL 20 200; ST Paul.
2,OOO do. preferred, 2,40o Ohios, 1926 Western
Union, 700; Union Pacific, AIS Michigan Central,
2,700 Missouri Pacific q $50
ADVANCE AND DECLINE.
ADVANCE. Delaware, Lackawanna and Western, X
Hannibal and ST. Joseph, " Northwest preferred "a
Rock Island ,, s. So District OF Columbia bonds i
Erie in London n gold, 4.
DEcLISE-Michigan Central, u Erie, X; Harlem,
n Lake Shore, u Pacific Mail, y ST. Paul, u do.
preferred, y Union Pacific Ia Western Union, 4.
STATIONARY Atlantic and Pacific Telegraph, Cen
trial and Hudson, Northwest Ohio and Mississippi Pan
ANA, Quicksilver, Wabash and New Jersey Central.
OPENING, HIGHEST PRICES
The following table shows the opening highest and
lowest prices Of the day
Opening. Highest Lowest
New York Central. ....... lO4st lO41 lo4I
Harlem. $50 1903 100
Erie. ............-......... ~ 10 loz