The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-26
FINANCIAL And COMMERCIAL.
Stealier Market-The Decline in Coal Stocks
Arrested Specu'aiOn Still Active.
GOLD III A 10 rs A III.
Government and Railroad Bonds Quiet
Money Moderately Active and Loaning on
Call at 1-2 1-2 Per Cent.
WALL STRRRr,

Tho black and threatening clouds which hung over
the market when business closed yesterday were stil
Impending this morning. and up to noon the downfall
was almost as heavy as before. Shares OF the coal
roads we're poured out in Hood leading to the belief
that the BOTTOM out indeed, and that bung and
spggot been discarded as mpracticablc vents for
so great flow. further recession OF these points
each in Delaware and Lackawanna and New Jersey
Central added TO the disastrous decline OF yes
terday, while Delaware and Hudson followed close in
tho However, there is always limit to Stock
Exchange deluge there TO the biblical one, and
when toward tho waters began TO suosdo busy
brokers took breath and found the emblem OF
the olive branch in tho spearmint of the
ncighboring saloons 1t began to be surmsed
that the thing had been carried far and that even
coal stocks might be the paper they witt
ten on The sudden conversion this idea developed
the rainbow once cleared away The Clouds brought
tho sun, and started all hands get in out OF the
sunshine they had before been cndcavorng get in
out of the rain.
With whrl and a corruscaton OF activity that would
have done credit to Catharine's wheel the whole
course of the Anthracite fancies changed depres
sion gave way to strength and figures improved every
bid New Jersey Central from 377 to 4l5s, Della
ware and Lackawana from ia to S2s regular, while
bonus Of u, to u per cent was frequently paid prom
iso Of delivery for cash to-day.
Despite the vigorous turn upward Il is quito clear
that the bears still seeming blood In Delaware aud
Hudson, for they were persistent up to the end In
Offering short stocks options Of from Owe to sixty
days. in the latter submitting to concession Of
from to per from the cash prices. Later
the enthusiasm oozad somewhat, and prices FELL to
be succeeded in turn by second rally which finished
business and fixed quotations at handsome recovery
from the extreme depression OF the day.
Apropos OF the coal stocks attention is called to the
In he rts in ms nj
State against the Consolidation Coal Company which
bears out the views expressed by the HERALD last
March, although these latter looked upon
heterodox III the extreme by the general daily
press. Briefly, the Court has decided that the
State has no case against the Cumberland and
Pennsylvania Railroad Company, looking to
forced reduction OF its tolls for the simple
that prior to the action OF the Legislature nsructng
such SUIT to be brought the railroad had gone OF
existence a corporation, the property having by
purchase become part parcel OF tho Consolidation
Coal Company. THIS is looked upon final, ap-
peal the of last being considered by
the coal company as at all probable.
While bulls and bears were engaged on their fan
dango over the anthracite iancles the rest of the
market was ,ndulgng in the iigurante business, in
humble imitation Of the leaders. The rush downward
off iavorites attended by a mtieated move
ment of the description the part Of the gen.
eral h Whiie the subsequent squirt upward produced
a like effect. Erie the decline in London
It'll. reflex OF yesterdays tall here), sagged
off TO 954, while tbs unavorab!o report
of earnings the part OF somo OF the
Western roads affected adversely the dealings in these
properties. the close the feeling cheerful,
tho racket the coal stocks being considered for the
present over, and a more steady state Of things
tcipatcd.
Whether tho sale of the SOC, 900 tons OF coal
Tuesday be followed by 1000 900 more, which it
positively stated will be offered by the Lchgh Valley
and Central New Jersey companies, lew days sub
sequenty will again upset the market Is riddle for
Ipeculators to guess.
THE SALES
Tho transactions OF the stock Exchange to-day aggre-
gated upward of 100000 shares. New York Central
and Hudson 425; Erie, "a, 700; Lake Shore, 81, $50;
Cleveland and Pttsburg 200; rlhwestern, 400; do
preferred, 1,900 Rock Island, 25, $685. Pacific Mail,
1900; ST Paul, 1905 do. preferred, 1o7oO; Ohios,
2S00 Western Union, 70 $50; Union Pacific GOO; c.,
G. and c., 100; Delaware, Lackawanna and Western,
10, $50; New Jersey Central, 23,9S0; Michigan Gen.
Eal. IA, s00 Delaware and Hudson Canal, Ass.
OPENING HIGHEST PRICES.
The following table shows the opening, highest and
lowest prices Of the day.