The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-06
The Stock Market Irregular, Fsvsrish and
Affected BY the Railway War.
GOLD STEADY AT liz rs A liz 81
Money on Call Loans and 3 1-2 Per Cent
Government and Railway Bonds Generally
Firm--Investmen Shares Easy.
WALL STREET,
T.vs<x~ - 1y.... a ~ -

FRIDAY, May 5-6 L. NJ
The weakness exhibited in the stock speculation al
the close yesterday scarcely continued this morn
ing. There inclination TO believe that tho rail-
road and telegraph might be something OF shan
fight aer all and under this impression there
red sharp in the fances, which, with occasional
selbacks, prevailed tho day through.
Exception must, however, be taken In the case oil
Michigan Central, which showed itself even in greater
danger o. laundering than deemed possible our
suggestion OF yesterday Tho leak in the unfortunate
craft had gained pcrccptbly during the night and
day all hands engaged in throwing their
lond overheard The apparent succumbng OF
Sloan, and the abandonment Of the sinking craft
by Taylor who drincd ashore, modern Moses
among The burushos frightened holders and invited
attack. To very serious extent too; for the stock
which had sold yesterday at 40, and which to-day
brought 47,s the early squirt, sold down almost
without check to 42tl, to close finally, after
porary rally, at 437s.
In some matters Boston people cut their eye teeth
sooner than New Workers do. and such has been tbs
case in this instance for as we pointed out many
weeks ago. the Hub has been quietly s'sparing',
Michigan Central our own more credulous
city. Fortunately tho shares have gone into the
strong boxes OF wealthy capitalists and tho loss has
fallen upon shoulders able enough to bear It.
The break down in this once highly appreciated so
tendency lower prices which lays like weight upon
the market.
While the cream Of business to BIO collected from
the surface Of Michigan Central Lake Shore worry
far from being in a SKINNED milk condition, for tram
sactious numerous and fluctuations mpor,ank
There was range Of from 5lss to 1914 apd finish
at SO.
Western Union again puzzled both friends and one
miles, for in spite Of the decline Of the rest OF the
kct. which at time set in, II s!ubborny insisted
upon remaining rm at the opening price OF ga, and
which the squirt inaugnrated late in the day,
advanced fully ono per cent The stock is puzzle
the various OF ruptured cables and
a bitter opposition should naturally point tho way to
lower prices twould DO curious circumstance If the
cutting OF should, after ALL prove blessing
In disguise and that the contendng companies should
wake up tho fact that money being actually
under the reduced rates than tho under
the higher tariff
About two O'Clock there occurred Of those sud
den changes, born Of oversold market, which W.
have repeatedly advised readers likely !,
The existing depression suddenly came 10 halt and
the unfavorable wind became quickly propilioua
Like the mstra which springs up on sudden from
no ono knows where, and knows why, and
blows sharp and dsas,rousy while it lasts. did the
breeze drive tho direction Of higher prices With
the effect too OF marking quotations up to the highest
point OF tho day. 1t blow over however. and
with the sinking back Of prices the bears found them
selves at the close Of business frightened than
hurt IRON the blast which had struck them
THE SALES TODAY
The transactions at the Stock Exchange to-day AZ
grcgated POI, 100 shares-New York Central and Hud
son, 1769; Erie, 10000; Lake Shore $3.50; North.
western. 6o0 do preferred, 700; Rock Island i.4oo;
Pacific Mail, 900; ST. Paul, $3.50; do preferred,
e.9oo Ohios, $500; Western Union, $4,000; Union
Pacific, 200; Michigan Central, 1880; Union Mining
Company. 1865
OPENING, HIGHEST AND LOWEST PRICES
The following table shows the opening, highest and