The New York herald., 1875-12-10
FINANCIAL AND COMMERCIAL.
Stocks Heavy and Hard to
Bull.
GOLD la 50 A Ia 1-2.
Money Easy at and Per Cent-Rag Cur
rency S733-Goyernm and Rail-
way Bonds Generally Steady
WALL STREET,
WEDNESDAY, Dec. 90 7. N.

WEDNESDAY, Dec 90 r. M
After the grand fanfaronade which closed up the
market yesterday afternoon, it was to be expected that
to-days business would open with equally brilliant
flourish of trumpets The knights OF Lake Shore,
armed cap pie were carly the lists, and the tour
nament began with a tilt at the bears which, TO say
the least was dscouragng to these latter Opening at
SIX fraction above yesterdays closing quotations,
the price was steadily carried up 62 with scarcely
hitch in the advance. At this figure there halt
in the RISE the price tremuous and wavering, and
general feeling Of dstrus that something out Of
Joint set in with the effect Of stieningthe backbone
Of the weakening the knees Of their bovine
opponents
For an hour or two the contest nearly equal
one but tho day grew older Ursa Major began to get
the best Of IT, and the result in the end complete
stampede OF the bucoc animal and weak closing OF
the stock at COS, nearly two points OF from the
best prices of the day.
This in brief and general terms, is the history OF
to-day's movement in Lake Shore Street gossip ac-
counts for it in this way:-rhere is some doubt
whether Jay Gould had any personal interest in the
movement but that by of his illness and conse-
quent inability to operate his account his
brokers had gotten up sort Of side show for their
pleasure and profit.
IT IS stated that Mr. Merryman and the Young Opera
tor had both been invited to join in the entertainment
The first named premier coique refused point blank to
have anything to do with the matter but nevertheless
quietly in his agents TO pick up thousands of
the stock before the real propretors Of the show could
get their advertising posters out. OF course,
when the entertainment really opened II not only
fair thing do but actual charity TO supply the
managers with his holdings at good round profit,
which it Is said he did The Young Operator however,
despite his getting in little late, held on like
and ex.drector and only discovered that he had
been mapping when the shrinkage OF prices woke him
up to the fact that the show over the managers
gone with the money box and that he left alone in
vacant halls, deserted"
OF course there being nothing longer to stay for he
left also at about 81 and under
II prognosticated by the HERALD, few days
SINCE that very brief period would demonstrate the
fact that the bull movement in Lake Shore chiefly
undertaken to stimulate the of the market and
thus create drmness and buoyancy Of feeling, which
would induce buyers to appear with appetite for
stocks at good, high figures.
Lake Shore well chosen for its recent rise had
created short interest greater perhaps than in any
other security; the talk OF coming dividend
sugar plum for the ''longs,n aud the comparative
scarcity of the stock for borrowing purposes
for the ''shors" Added to this, several houses which
are known be large holders solicited to-day TO
withdraw their certificates from the loan market and
thus artificial squeeze which would help the
advance
Unfortunately for the promoters or the movement
they found themselves "hoist by their petard"
The market generally, but slightly advanced; the
promised dividend as the price dropped gathered
c. O. d. BY the bears instead Of being doubtful thing
Of the future is to the bulls and stock for bor
rowing purposes for instant
The utter absence OF an outside element, we have
before shown defeats all chance of a sustained bull
movement at present 1t is easy enough 70 ad-
vance prices by vigorous purchasing but it is quite
another matter to dispose OF the accumulation
Small bears run quietly and make small losses; the
big ones rich and powerful enough to keep their
lines out until the turning OF the tide.
tCornersr have by common consent been acknowl-
edged Improbable, and it will probably be many long
day before the Of operation which turns
out disastrously to both parties engaged
So the result of to-day's Lake Shore business has
been the driving of few shorts" to cover, and the
loading up the chief operators prices that must DO
anything but satisfactory
Western Union opened strong at II, but when It
stated that the approaching dividend had yet been
declared 1t commenced to show weakness, which was
gradually increased by the decline OF Lake Shore.
Pacific Mail was marketed at every opportunity by
the Lake Shore clique but in the end could not resist
the influence of the favorte and closed weak and
lower.
ST. Paul preferred attracted more than usual atten-
biOn, ana was " one blHe uu up w " Uy tuc
geomctrca broker, who, having apparently respect
great namesake Of old reads the pons dsinor
Of the stock market with confidence that would
astound the boldest undergraduate of Alma Mater.
The fluctuations Of the stock market to-day havo
been the stated from the first the last sale
as follows:-I.ake Shore 6ls{ 62 6l% 62A a GIL
61H 6oss 6osl Union Pacific; 1874 II; Erie, Lex
1917 16ss a IL a161z; Northwestern, 39Z 39X a
39k; preferred, Sc 56A 55X; Rock Island, los; St
Paul. 36s 36S 36h 361 preferred, 66sS act CO.
Michigan Central, 6lZ 6lk; Ohio and Mississippi,
Tx 17M Toledo and Wabash AZ a "a AZ; Central
and Hudson 1857 lo5z; Illinois Central, 96; Della
ware, Lackawanna and Western, 1905 Pacific Of
Missouri, 12A l216; Pacific Mail, al 4oH AK a
4o.; Western Union, II III 7e1I 76ss a 763S;
Atlantic and Pacific Telegraph, 1871 1sx.
THE TOTAL TRANSACTIONS
of the day l40 900 shares distributed foows-
Western Union, Is, 7oO Atlantic Pacific Telegraph
500; Pacific Mail l1,5oo Erie H. sOo Lake Shore
SO, 600 Northwestern, $500; preferred $500; ST.
Paul. 4sO0; preferred, $500; Wabash 100; Michigan
Central 2l00; Union Pacific, 1900 Rock Island 500
Pacific OF Missouri 600; Central and Hudson 500
Delaware Lackawanna and Western, 400; Ohio and
Mississippi 5oO and OF Hannibal and st. Joseph 200
OPENING, HIGHEST LOWEST
The following table shows the opening, highest and
lowest prices Of the day
Opcnirg Highest Locest
New York Central ........ l05A lO5A l05A
Harlem. .................. 13sM 1895 1885,
Erfa N