The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-09
FINANCIAL and COMMERCIAL.
Speculation Peverish-StockS Under Two
Fires-Bulls and Bears in Battle Array.
GOLD III 7-S A III ga.
Money on Call Loans 2 and IL Fer Cent
Governments Active and Strong-lnvest-
ment Shares Steady-GOOd Railway
Bonds in Fair Request
WALL STRRxr,
TUESDAY, August SO 7. II. !

TUESDAY, August SO 7. n.
The street has had a sensation, the first in many
day. Undismayed by the fate Of the children referred
TO IN Mother Gooses collection, who went skating on
summers day. the short sellers OF New Jersey Gen.
trail have been following their example, and, In the
midst OF their gyraons and experiments on tho out
side edge market for cash. the stock has given
away under their feet and they have fallen in-souse.
In noting the scarcity OF New Jersey Central for bor
rowing purposes and the bonus 1t commanded from
day 70 day for delivery had occasion to refer to
the facility with which sharp twist could
be given to the cash stock The was turned this
morning, handsomely too by tho handsomest man in
The Board-whrling the cash stock up and leaving
bears lesson TO ponder over Early sales were made
IS low 5o, but the appearance OF the operator al
iuded OF all the cash stock, Offering at
premium of = to IN per cent, created sudden
spasm OF fright among tho shorts. who had COM
placently contemplated the declining figures OF the
opening The rush to cover was like charge Of
cavalry and the hunger for cash stock cquaed that OF
Pinch in the comedy 1t required but very little time
to whip the price OF shares up TO GA cash. while the
quotation regular way anywhere between 81 and
So, for the moment did not probably exist at all AS
usual with these sudden squalls, the moment tho two
penny shorts found themselves though crippled, out
OF danger, the market began 10 recede. and finally
closed up with the last recorded transaction at 6l
In Michigan Central tho dealings were large under
demand which carried the quotation up from 40 to AZ
only slight set back occurring at the close Tho
creased earnings last for the fourth week in
July gave tho bulls to-day to bid the price
up "a the decrease for the month may offer
to the bears raid It down tomorrow. Ono at time
seems TO be the rule with the privilege of choice
payment OF your money
Pacific Mail, being the sluggard of the market Tor
many weeks past. made its complaining voice beard
to-day and the rally Of its friends carried the price up
. good point and more, which 1t held 10 firmly
to the end 1t has suddenly been discovered
companyys good deal better than 1t looks and that
II 1t don't make money 1t ought to-a conclusion as
favorable to the stock uncompimentary the d.
rectors
Rock Island was alternately weak and strong, the
latter at the close The stories of competition and
possibility of the Western roads following the suicidal
cutting policy ofthose Of the East have not
sumed definite form enough TO act az more than dis
turbng element In the market
Apart from the stocks we have mentioned the gen.
sral list was dull and arm, fluctuations being confined
to half per cent variations. The may be said OF
the bond Market the nominal price Of money at TX
per evncing any very great eagerness for
vestment, even in securities which can and will pay
ave times that amount per annum.
SAILS
The transactions to-day aggregated about ST. 900
shares, the principal business being done In Rock
Island, Jersey Central, Lackawanna and Michigan
Central new movement was also observable in
Pacific Mail
OPENING, HIGHEST AND LOWEST PRICES
The following table shows the opening, highest and