The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-02-18
An Erratic Stock Market-Prices q Triilc
Firmer, but Speculation Limited
and Operators Nervous
GOLD HIGHER AT lla "a.
Sl,7OO,OOO Shipped To-Day Government,
Railroad and Investment Securities
StrOng-MOney on Cali
l-2 Per Cent.
WALL srRsEr,

THURSDAY. Feb. 17-e P. NJ
The "Old Probabilities OF the street, undo the guss
of public OPINION, not borne out in his prognostL
cations OF stormy financial weather to-day. Tho
tornado which viewed as imminent last Night
swept over the market only as
Fresh gales and gentle airs
and the havoc which was half feared half desired
failed 70 prevail The bull element evidently took the
night to think the situation and the result
endeavor check the threatening evil before had
assumed any very serious shape At the opening the
very pronounced disposition get Of stocks which
had exhibited itself at the close OF dealing yesterday
was again manifest only 10 be quickly met by power
which stopped the decline and the day carried
prices to slightly higher figures While Lake Shore
abruptly checked in its decline Western Union
broke through all bounds and was not brought to
sense Of its position until it mad puched 10, drop OF
four points from the quotation OF two days back At
this figure developed inclination the part OF
the Twentythird street party to which was fol-
lowed by large purchases BY prominent speculative
trader, who In this instance supposed to be en-
ployed In the capacity OF q commission broker, with
Jay Gould as his principal
We give this simply as board talk and for further
particulars refer the reader the Mephsopheles OF
Forty-sevent street himself who win undoubtedly
express himself with all the veracity Of truthful
Jeemes"
II Gould is short OF 900 shares OF Western Union,
as the gives him the for he would scarcely
attempt TO cover at so small decline, and We may
look for another stampede which will carry the shares
still lower.
AS far the record Of the day goes, however, the
rally improved quotations three quarters per
cent, and with this gain the stock closed
The granger stocks may be regarded as the best
bower which kept the vessel of speculation from drag
ging the dangerous quicksands Of fancy prices
,t.ok ~.
audience that there is positively danger when cry
of IRE has been raised The Northwest and ST. Paul
stocks refused believe in any conagration whatever
and In their steady determination to bulge from
prevailing quotations. treasured the of the market
So when Lake Shore was halted and Western Union
brought up with roond turn things took a more
cheerful aspect, and eventually closed, II not at
better prices, at least with stronger feel
ing than prevailed last evening The admirers
of the St. Paul stocks to still exist in the shape
Of a combination pool, whether because they think
they cannot have Too much OF god thing, because,
like Sinbad the Sailor the Old Man of the Sea- they
get rid of their load open question Certain
1t is that they have been very busy to-day in giving
out points buy with promise of future and
as We all know stockholders ignore self when they
can benent their friends, their information must be-
WELL just what II is worth
Apart from the speculatons we have named there
was nothing in the light timbered tissue paper
. securities to attract attention.
There no gossip nor rumors Of any sort to bias
the hestancy of bull bear, and beyond the desire Of
crowd OF small shorts TO gather In profits the market
exhibited salient feature
1t cannot be denied, however, feeling of doubt has
set in as TO further prices just present
II argued that a sixty days bull movement usually
brings Taurus the end Of his tether and the board
begins 10 realize the fact that the combinations have
pretty effectively plastercd the street with their hold
ings The advancing pillar OF ere has been quenched,
and the pillar of cloud, which may typfy Gould In
his destruction capacity is too sombre and threatening
to attract followers from the sunny promises Of the
centennial year.
OPENING, HIGHEST AND LOWEST PRICES
The following table shows the opening, highest and
4 he dav.