The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-31
FINANCIAL and COMMERCIAL.
The Market PeyeriSh and Lower at the COSc-
Returning 10 Stradier Habits.
GOLD 11O1-S A 100 rs.
Government Bonds First Weak, Then Steady
Railroad Bonds Generally Firm-Money
on Call Easy at 1 2 Per Cent.
WALL STREET..

WEDNESDAY, August 30--6 T. NJ
The heads Of tho great coal companies as repre-
Dented by presidents and directors, described as
being sore enough this morning They apprehended
vigorous application Of the shears to the inflated
prices heretofore demanded but they did not look for
The Wholesale scaping they received. tumble OF 50
per ton, must DO confessed is rather over doing the
matter, as = continuance for any time Of 30 serious
reduction will tend to limit production, shut
down the mines. and eventually marx up
prices the legitimate plea Of short
supply, or II may prove TO the companies
themselves tho truth of the old saying n union there
strength" and lead them to speedy treaty peace
and reconstruction under stronger bonds than ever,
Of tho obnoxious league IL would, perhaps have been
satisfactory to both buyers and sellers if
had been obtained that would have yielded fair profit
10 the companies and moderate priced article to the
consumers Whether it had entered into the plans of
the sellers to exercise protecting influence during the
SALE and thus sustain prices is matter OF doubt but
Il is positively certain that the public
would have nothing but free trade in the
matter, and the public carried tho day. How
ever, the coal people havo hedged tho conditions
OF delivery with as many difficulties supposed 10
encompass king and constructed ioophocs Of escape
large enough drive coach and four through. 1t Is
not supposed that the officers of the companies have
the slightest intention Of awaiting themselves of
bubble, but 1t does as though the contract were
drawn with superduity of strength In their favor.
When business commenced this morning there was a
strong inclination the part of tho bulls TO give up
the coal stocks bad job that beyond their
power to convert into good one, and disposition
was shown to graZo in fresh pastures. These they
found In such other stocks as Pacific Mail Western
Union, Lake Shore and the Granger properties,
all OF which showed more than usual animation and
1rmness OF figures. Dealers the long SIDE unior-
tunately seem 10 have moro luck with the market
than the propretress of the gezse had with her pct
for the moment il becomes fairly firm hitch &C.
and its strength dies out So to-day, things
were going swmmingy, the failure Of NJ essrs George
II. Marvin l. Co. was announced, and though the affair
Is of no significance whatever, the spinal column
Of the market gave out, and prices weakened all
round. salo of 1900 shares of Pacific
Mail made by the above parties previous
10 the announcement of their inability respond broke
Tho stock down from 22A to 2l,s. and further sales
nnder the rule, of Pacific, of.Mssour, Delaware and
Lackawanna, st Paul, Western Union, and still
Pacific Mail, unsettled prices and rendered the whole
list shaky. Added to this sharp bear attack
made upon St Paul preferred under the pretence that
the dividend promised for October to be euoned,
and apprehension enough created sink the stock
from 6634 to esq., which all 1t would bring at tho
close Lake Shore, Northwestern and Rock Island
Affected TO almost equal degree from sympathy
Than from any other reason though reiterated stories of
Western railroad told to the prejudice of the
latter corporations Meanwhile shares Of the coal
companies were lively as shippers in a Stilton,
and offered many tempting turns to scapcrs, within
the limits Of and hall points-he closing figures
being not go good as the best bad the worst
Sellers options still continue be made Delaware
and Hudson phere being too little soanabc stock to
regular salcs) at two per for thirty and
tour per cent for sixty days In fact shares of all the
coal companies exact from 4 to u per cen, premium
or single days for purposes OF delivery
Governments still lower, the decline of gold
and the probable success CT the Az per oan of
which word comes from London that tie invitation to
subscribe has been issued in that capital
The finish Of the market by no means brilliant
and failed to emit light enough TO guide one in
prophecy for tomorrow.
THE SALES TODAY
The transactions OF the Stock Exchange aggregated
las 467 shares.-New York and Hudson, 1886 !:
Erie. 100; Lake shore, 14.4oo; Cleveland
and Pittsburg, 500; Northwestern, 900; North
western preferred, 1000; Rock Island, 4,636;
Pacific Mail. 1s,4oo; St. Paul. 1910; ST. Paul
preferred, $500; Ohos 1000; Western Union, 10 600
Delaware, Lackawanna anu Western, 40. $50; New Jer
sey Central ID 61O; Michigan Central l. 500; Delaware
and Hudson Canal, 1,7S0.
OPENING, HIGHEST AND LOWEST PRICES
Tho following table shows the opening, highest and