The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-07
FINANCIAL AND COMMERCIAL.
The Stock Market at First BuOyant and then
Derliling-An AbOrtiye Rise.
GOLD AT 112 SO AND ll2 SO.
Money on Call Z and 8 Per Cent-GOvern.
meut Bonds Steady-RailrOad Bonds
StrOng-State Bonds Firmer.
WALL STREET,

NJ
ST Matthew wisely wrote that "A prophet is not
without honor his country" Since the days
ofhis gospel Chrisendom has accepted the sentiment
truth There are CAVALIERS, however, always existent
and always doubtful and when prophecy is fulfilled
ready 10 turn and rend you There Is an animus OF
course for tins ferocity rather physical than mental
as might arise from somebody's beng trodden
upon.
The journalist who ventures to linn the future OF
the stock market Is by means prophet worthy Of
credence his house. Ii his forecast should be
the his brother scribes, whether borne out
by facts not dog let bark but should his prog
nosticatons be while the false speedily
'rray Blanche and Sweetheart" let loose at his
heels
We have for some time back advanced certain views
with regard TO Wall street matters-views founded
upon considerations candidly expressed and open TO
crititicism which have favored the theory OF
general rise the stock market regards the imme
date future. Our may have been good bad or
Indifferent as people have chosen to look upon them,
but this thing certain they have honestly
advanced and they have turned correct
We sorry five have inlerered with the grinding
OF anybodys rodden the heel of prediction
upon the speculative toes of bull operators but
day proves the correctness OF the prophecy although
the seer is freebooter and pays taxes.
II looked at the opening this morning as II our
prophetic soul" was in danger OF punishment for
false OF the markets future course for there
evinced a life, activity and general strength
which stocks have long been stranger to. Lake
Shore. usual opened the ball at closing prices Of
last night and slowly but surely worked way to
higher figures Sympathizlng with the favorte, the
whole market became imbued with feeling OF strength
that gave the appearance of steady permanent ad
Indeed, the rise seemed worthy OF confidence
from the fact that there evidently parcels OF
stocks taken on outside account Some OF the money
released in the shape Of interest and dividends was
dribbng the fancies and the market gained tone
from the fact
Pacific Mail at times quite much the centre OF
attraction as Lake Shore, and advanced from 3sX to
80, but about this quotation the report Of the City
OF Pekng having come to grief shortly after her de-
parture from San Francisco became known, and the
price dropped to 3sk, the lowest point OF the day
Michigan Central weak patient to resist
The phebotomy Of 600 shares OF long stock turned
out the market, and suecumbed The blisterng of
million Of floating debt Its pulse just "a
per lower at the close than the opening and
with every prospect Of ieversh night Indeed it is
quite probable that the feebeness OF Michigan Central
turned the market for other stocks quickly turned
also and from midday to gong sound gradually
fell o. and IN most instances the last prices
than the first
To-days tactics betray sufficiently well that the
bull cliques have confidence sustaining higher
market Prices up with spirit and a hurrah
the opening. and tremendous rub adub, after the
Of Chinese warfare was to scare the
shorts The market thus formed good and strong
takon advantage of by the holders OF long
and thousands of shares offered and found buyers
without materially breaking it down. The unloading
today been greater than for many days past and
things closed up weak and unsatisfactory. Another
trial must be made keep things moving, and mean
while the writer continues despite the Evangelist to
be prophet IN his own house
SALES TO-DAY
amounted to about l12, 900 shares, which were dis
tributcd among active stocks follows:-New York
Central and Hudson River, 1,043; Erie 60O Lake
Shore 4s 800, Cleveland and Pittsburg 45o; North
western, 500; Rock Island, 500; Pacific Mail, %. lO0
St Paul, LOO; St. Paul preferred, 4SO ohos, 400
Western Union, $500; Wabash, 400; Union Pacific,
500; Michigan Central 1855.
ADVANCE AND DECLINE
The following the changes IN the closing figures
compared with those of yesterday
ADVANCE. Central and Hudson 4 Delaware Iacka-
wanna aud Western, / Quicksilver, "a Rock Island,
q Wabash "a Western Union = gold a.
DEcLISE.-Atlantlc and Pacific Telegraph. u Mich-
gan Central. IL; Hannibal and St Joseph, = Lake
Shore, y Northwest, u Northwest preferred, 4
Pacific Mail, a ST. Paul common, 4 ST Paul pre-
ferred y Union Pacific. l; New Jersey Central u
District Of Columbia 3.65 bonds, x.
STArloSARY.-Erie, Harlem and Ohio and Mississippi