The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-09
FINANCIAL and COMMERCIAL.
Stocks Higher-A Spectators Market-Ths
Decisions Of the Street.
GOLD STEADY AT III SO.
Money on Call 3 1-2 Per Cent-Gov-
eminent Bonds Active and Railroad Bonds
Firm-Inyestmen Shares Stead.


Bulls, cmuous OF the Jersey Heights explosion,
touched Oh their dynamite at the opening to-day, to
tho distraction Of bears and and trepdation OF
cidcd shorts The report turned out be noisy
than noxious for the damage done proved as incon-
siderable as that from the Hoboken affair and was
about soon over.
The burst up chiefly confined to Lake Shore and
Western Union, the first springng up suddenly from
53ti TO 54, and the latter from 065s to 671, from
which point prices foil almost rapidly the
figures they started from, though later in
Tho day second rally was established
Of about y per cent which was sustained
to tho close Speculation confined almost entirely to
those two favorites, although the Twenty street
bears are keeping evil eye on Michigan Central,
which they esteem only with letting alone and
watching carefully for the present The Rufus Hatch
party In Western Union probably somewhat disap
pointed to-day that their injunction great gun has
podcd with such Intellectual result and that fen
joie which 10 send prices flying upward has fallen
Ms tamely on the of dlsbceving public tho
port OF penny squb Tho result that the stock
closed at but fraction better than It opened at being
unable to resist those demoralizing seller sixties
At half per below the market and
tho feeding out the long shares which Mr.. Gould
(having got wind of tho injunction movemenD
placcntly and adroy possessed himself of for the
purpose Of sparing' them to the ex-managing direc-
Tor and his shipma,es when eligible opportunity
offered.
The Lake Shore move appears to be built upon
stronger foundation than that Of tho telegraph
fancy. The extensive short interest," tho existence of
which plainly shown by the expression OF brokers'
opinion tho comparative scarcity OF shares for do
livery, has created opportunity for upward,
sharply and Unexpectedly, have moro than onco
suggested as likely TO occur.
From all gather this phenomenal bull crca.
ton owes its paternity 10 u bear (which
TO be mixing matters, to say the least), and It's
sires other than Mcssrs Cammack, Work and
Henry Bmith.
The effect OF tho movement is, of course, to force
sickly and impccunous bears cover, which being
accomplished, speedily will be- the will prob
nbly terminate as quickly as II began.
The business OF the day somewhat broken into
by the election for board officers, which drew on the
BENTON OF membcrs consequently there nothing
be recorded OF the general list that 1t renamed
steady and dull
There manifested some little interest, however,
In the Western stocks based tho adjournment OF tho
United States Supreme Court until October which was
scceptcd conclusion that opinion in respect to
,hc Granger would BIO issued before the fall
Money ruled at 4 per cent and stocks generally
loaned Mt 3, with the exception Of Michigan Cen
sral and Central HUDSON, which brought bonus OF
l-s2 to llo TOR delivery short contracts
THE SALEs TO-DAY.
Tho transactions at the Stock Exchange to-day ng-
grcgated 1872 900 shares New York Central and Hud
son, 405; Erie, $3.50; Lake Shore 81 300; Cleveland
and Ptsburg, 49, Northwestern, 200; do. preferred
1905 Rock Island, 1880; Pacific Nail, 1878; 81 Paul.
I,ao0; do. preferred, 1850; ohios 1900; Western
Union, 40 $50; Union Pacific, 500; Michigan Central
ll,40O; Union Mining Company, ,13o
OPENING, HIGHEST LOWEST PRICES.
Tho following table shows the opening, highest and