The New York herald., 1876-12-12
The Stock Market Feverish
ana Generally Lower.
GOLD 1O7 is A 10Y A 1O7 IA
Railway Bonds Steady-Governmen Securities
Weak, but in Fair Demand Money on
Call "a Ga las Per Cent.
WALL STREET, |

The Mills party having, by their gerrymanderng OF
last week. succeeded il transferring the load of Lake
Shore from their shoulders TO those OF the inno-
cents OF the Stock Exchange stood with their hanis
IN their pockets to-day IDLY contemplating The stua-
on The Market in the absence OF all outside inter-
est, lies as dead the traditional door na and can
only be made trend upward by the strenuous excr
ons OF professional operators. Lett 10 ITSELF figures
contract and the artificial strength iadcs away with
real weakness which is only partially councraced by
scanty purchases on the part OF tho shorts.
The unfayorable condition OF things political and
commercial remain strongly marked ever, and
inducement is offered for the venturers OF capital
In speculation which Tor the time being Is hopeless
OF results.
In addition to this the startling dcclne during the
year IN such pre-eminenty valuable properties
Illinois Central New Jersey Central and the other coal
curriers' has widely dispced the faith OF investors IN
the heahest class OF railroad stock while
the sickly they are not to be touched with
tvngs. Tho discrimination between tho steady dvi-
dcud-paying securities and tho rattlctrap iancies
that neither divide, likely for years TO
comc-the separation, 1t were, OF railway
sheep and goats-is slowly but surely going
Oh, with the effect Of withdrawing the former from
speculation and OF sending the latter to oblivion. II
Is possible 10 posscss too much ofa good thing, and
The railroads suffering from that very fact Too
many railroads and little business arc horns Of
dilemma that have tossed dividends 10 the winds and
given unpleasant thrust to confidence in the
bonded debts
The customary support being withdrawn this morn
ing the whole list sagged
New Jersey Central conspicuous in tho decline,
being helped thereto by some imaginative news from
Philadelphia, to the effect that default would made
upon their interest," and that the paper Of the concern
would be likely to 60 to protest
AS no interest Is duo until January the report
looked upon with suspicion which shortly after
confirmed by dispatches declaring the previous
grams 10 bc forgeres. Upon this a recovery took
place. aud tho stock closed nearly up the highest
figure OF the day.
Lake Shore which sold at the opening ut 81 u, fell
OIL to 56sa. and rallied to 50si The granger stocks
were equally weak kneed, but pluckcd up little
strength, the that the Supreme Court not
set ready to render decision and that the ST. Paul
earnings Tor the had diminished ST. SS4, having
NO apprcciable effect
Reading was quoted at tme in Philadelphia as
low as lSA, point OF depression which it has not
seen for many The old trouble, which bids fair
to become chronic, OF collapse in its Golfers, al
legged to be the cause OF the complaint.
There cvidenc. o an intention feel the pulse
Of The money market, the rate, which had tcen quiet
M4a5, being suddenly run up 10 per cent
Aue auVhuSe, HpNeSeI, DROUGHT out supcraOundant
supply OF capitai which. at the close offered ut
24 per cent
II the desire wcrc to test the possibility Of an In.
tended squeeze, connection with general bear
movement tho response was not very satisfactory
The sOid Lady OF Thrcadneedle street" dsgordcd
day another lot Of El9o, 900 for shipment this port
Eo effect produced upon the gold rkct, though
additional force by the arrival OF ST. 600
by packet this morning.
Al the close there general strengthening Of
the stock Market the advance being tga,cd by pur-
chascs OF Lake Shore 10 shorts put at The
close OF the week by tho disciples of quick turns"
In Exchange court
SALES TODAY.
Tho trans sactions a: the Stock Exchange to-day ag
gregated 100. .535 shafcs-Ncw York Central and Hud
son RIVER 1921; Eric, II, 800; Lake Shore "a, ,40O
Northwestern, 1,4o0; do preferred, l,Coo Rock
Island 1000; Pacific Mail, 4,600; ST. Paul! 2o50 do
preferred 1900; Ohios, 1900; Western Union, 5soo
Wabash $780, c.. and !. c., $50; Delaware, Lacka
wanna and Western. 1900; New Jersey Central,
1850; Michigan Central, 6l6c.
OPENING, HIGHEST PRICES.
The following table shows the opening, high est and
Iow cst priccs OF the uay.--