The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-07
Stocks Sill Sassins-LOwer Prices and
the Bears Jubilant.
GOLD III 81 A lib A ll2 rs.
Government Bonds Quiet Money on Call 3 and
A Per Cent--Inyestmen Securities Ir-
regular-Railway and State
Bonds Stead.
WALL STREEr,
THURSDAY. April 6--6 y. n.


In all respects the market Of to-day has been tho
counterpart Of that Of yesterday, and has moved IN
favor or bear interest Tho upward spsrt Of Tues
day as ovancsccnt the bubbles glass OF dry
silIcry, and lasted about long Nor was there any
why Il should last The short interest, which
was tho only support, taking alarm, quickly advanced
prices tho process OF covering contracts, and when
his the ceased also Yesterday and to-day
Affairs settled back their old form, and the pre-
railing rotting out duncss again appeared.
Pacific Mail and Western Union chiefly rcmarka-
bio In this respect and the reasons adiuced were pow
sriul influence, even IL wrong IN fact For instance,
In the former stock Il stated that the Panama
road had declared war tho kn,:c the shape Of
attachment Of the Pacific Mails property the Pacific
coast and determination 10 push suits In our local
courts for tho recovery OF moneys lent and proceeds Of
freight bills collected, but not handed over 10 COM
planning company
Besides this there were 10 suppose that, like
rats who desert sinking ship. there was moro than
vnc holder OF long line OF stock purchased Gouds
advice ut prices among tho Turtles who had become
sick Of his bargain and had thrown holdings upon tho
market At the best ngurcs they bring The effect Of
these reports to the stock down from 49, to
lox, which is tho lowest Il has sold At and at
which price 1t could DO obtained by the shorts lwho
we're the only buyers) 1t the close
brace up against IN otherwise falling market, sue
cuuibed to-day under reports that the rival Atlantic
and Pacific Company contcmp plated iurther reduction
u rates. and that earnings for the quarter show
ing considerable falling or There did not appear to
BE- more than the vaguest reasons for either Of these
stories but tho stock declined nevertheless for as
little cause perhaps for tho misfortune OF the ira
di,ionAl dog who went to the 'sdemnton bow-wows''
because he had been given bad name
The St. Paul people, having played thor best trump
In tho way OF l. O. U. dividend are inclined 10 give
somebody else chance, which is not snapped at with
any great avidy aud consequently both kinds showed
lower figures by u to per cent tnan they did Vt tho
opening. .
Lake Shore remained steady to the disgust OF scalp
ers who In the fluctuations Of per found slim
chance for gain or loss
The Bank OF the State OF New York stockholders met
to-day in considerable force and tho result Of their
ton was to recommend a continuance of the insti.
tuition on tho reduced basis OF 100000 capital Mr.
VIM. L. Hays was chosen president vice Mr.. August
Belmont, who had temporarily assumed the position,
and every effort 10 be made to put tho
its legs again. The public was favored with report
OF the condition of tho bank this morning. which shows
that out OF capital Of 81, 600, 900 the Of
ST. 22l 567 ii has CONC where the woodbine twIncth
We are sorry the eleven cents but would be glad,
the items OF ''oans and discounts" s'rcal estate"
ssother estate" esuspcnse account" and 'rsiroad
bonds would bring in cash any approximation Of their
schedule value.
Will Mr.. Meigs give insight into some OF the
sthcr city banks that loaded up with suspended paper
and generally shaky coateras, but which publish as
lair statement as did the Bank OF the State month
ago. and lot know what their stock is worthcheap
for cash.
The situation OF the stock market Is the situation OF
trade generally. Buyers Of stocks as few arc
buyers OF staples and II is apparent that the wheels OF
commerce must be again set gong the upward turn
before either merchants brokers will end their
due
TIKI sAIKs
The transactions at .he Stock Exchange today
aggregated l23. 500 shares, which distributed
follows New York Central and Hudson, 1415; Erie
1000; Lake Shore, q. 400; Cleveland and Pttsburg
100; Northwestern. 400; do. preferred, 800; Rock
Island, 1885, Pacific Mai 81, 425; ST. Paul, 1850;
do preferred, 1000; ohios, 1900; Western Union,
500; Wabash. $50; c., c and ]. c. 100; Panama,
$50; New Jersey Central LIPS: Michigan Cennal