The New York herald., 1876-09-06
FINANCIAL and COMMERCIAL.
A Steadier Market-Prices
Better at the ClcSe.
GOLD 109 1-2 A 100 3-4 A lO9 5-8.
Government Bonds Firm and Little Higher
Railroad Bonds Declining on Call
Easy at 1-2 Per Cent.
WALL STREET. !

TUESDAY. Sept Do L. N.
Tho lights and shades OF ,o-day's MARKET created
. Its fluctuations variable and inconstant like
those Of an April day. There was no downpour and
no scorching sun-no extreme figures, either up or
Town, but lively trade between the limits Of per
sent So which proved satisfactory to both bulls and
bears This rregularity pertaned to the whole list,
which, indeed in the absence OF any particular regard
being paid to select favores, received more general
attention than 1t has for some time past
Although the bear party attacked the market more
than once rather sharply the bulls rallied quickly TO
tho defence recovered tho lost ground without de-
lay Unless all signs fail very large short interest
has been made during the last few days. and there is
added thereto moderate demand for such OF the rail-
ways showing increased earnings-a demand
which proceeds from other than speculative
The existence OF these two elements has produced a
strong underione, which, that the spirit OF tho
time being, breaks out in open revolt against all efforts
to scale down prices Added to this Is tho better feeling
as regards the future which is creeping into the
street from manufacturing and commercial quarters
and IL creating belief that the era of decline is about
over, and that many securities cheap at the prices
they are selling for This is the Wow from the bull
standpoint, and 1t probably contains many elements
Of truth but so far 1t cannot be gainsad that inquiries
for securities from outside the Exchange are inantes
NAL Bears, on the other hand claim that the lowest
depths have not by any been reached and point
to ante war figures and the general liquidation and
poverty Of the people good and sufficient auguries
Of what ia TO come.
Thus small dealers the horns OF dilemma,
which they take kindly in the immediate neighbor-
hood, and at the samo time consult straws (not alto
gethcr disconnected with boulous attachments)
how the wind is going TO blow.
The drop OF Lake Shore to 4SZ marked the lowest
price ever made for the stock is at present
stituted, and seemed 10 be the signal to put the
brakes; for vigorous and successful effort shortly
turned it the other way and eventually landed
tho price at 59h, the highest point
Of the day. Michigan Central. which
sticks close as a brother to Lake Shore
IN Its eccentricites, sold down 34s in raternal
sympathy, ultimately to recover and at 365, also
Its best showing for the day. The handsome
Of over $685. 900 for the week ending September had
reassurlng effect upon the few faithful who be-
heve IN tha stock and helped the rise.
But the active cos stocks gained per cent on the
poorest prices and held tho improvement at the Close
though much of the old excitement had ladcd away
and transactions were in much less volume.
Railroad bonds wcro weaker to-day, and some
pressure cxered against the issues OF the St Paul
and Northwestern roads, possibly with the desire of
Indirectly affecting the shares. There not much
harm done, however, for prices generally rallied when
the weight was removed.
The moral Of the mornings business may be summed
up the remark that the very close the prices
OF the session were made TO o decidedly frmer and
more cheerful feeling.
SALES DAY.
The transactions at the Stock Exchange aggregated
ITO 900 shares Now York Central and Hudson River,
1856; Erie. 4,O0o Lake Shore, 72, 2,6O0 Cleveland and
Pittsburg, 22o Northwestern soO Northwestern pre-
ierred s4OO Rock Island 3,l2O; Pacific Mall 1925; St
Paul, 1885, ST. Paul preferred, 1900; ohios, q 400;
Western Union, 200; Union Pacific 2Oo Panama, 800;
Delaware, Lackawanna and Western, 26 6l5 Delaware
and Hudson Canal, &c. New Jersey Central II, 800;
Michigan Central, 1900; illinois Central, 1904
OPENING, HIGHEST LOWEST PRICES.
The following table shows the opening, highest and
lowest prices of the day -