The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-28
The Stock Market Dull and Fevensh-
A Summer Days Business
Gold Irregular at ll2 5-S a
liz ll2 a liz ga a ll2 5-S.
Money on Call Loans and 3 Per Cent
Foreign Exchange Steady-lnvestment
Securities Frmer-Decline in
Mining Stocks.
WALL STREET,

r.. 81. J
Blessings the powers that be, that they have
couraged trade and industry-prase 10 our gov
eminent that II has given us something to do-some-
thing do for stock brokers, who In the dearth OF
legitimate business, ind occupation watching for
the bright silver quarters fresh from the mint The
official stock list will ignore any OF these
actions but they about important any others
Of the day and engrossed the attention OF the OF
operators 1t may BIO conceived, therefore, that the
lights Of the board speculation bowed low to-day,
and that the great actors, who appear also under the
glare Of the lime light notably absent Conse
qucnty the play left in the hands OF tho supers
"Hamlct" with Hamlet left out-and the result
treary performance with attention enough to
create half per cent attraction tho usual avores.
Al the start there occurred temporary stcning Of
prices, due favorable reports OF Commodore
vanderbit's health, but the gain lost by midday
and from that time to three O'Clock there existed
summers sicsta. which became profound the
longer It lasted This particularly apparent in
Lake Shore, which fell from 555s TO 55ss in Western
Union, from $50 to 65ss, and in Pacific Mail, from q
TO 1884,
On the contrary, in the early part OF the day
the coal stocks exhibited decided sprightl
ness which carried them up considerably above
yesterdays quotations on the demand TO cover
short contracts, but they failed TO hold at the end ST.
Paul preferred followed in the footsteps Of Lake Shore
as likewise did Michigan Central, the first declining
from GA TO 63I. and the latter from 52k TO 81
The distinctive results likely from the general
railroad war is blanket to a bull movement in
this description of securities, while the obstinate and
persistent opposition of tho Atlantic and Pacific Tele
graph Company las continued to-day OF fur
hcr reduction rates. is sensiby weakening the faith
Of believers in the powerful rival corporations
Despite these general unavorablc influences, and the
pccnc suggested by the unfivorabe condition of
Tho Commodorc's health, Central and Hudson firmly
holds its
The stock has been gradually yet completely alb
crbed from speculative hands by investors who have
bought and paid for 1t that speculation the short side
has almost ceased
Mr. Gould essayed tho experiment OF selling tho
stock short shortly after the panic Of 1873,
and has never been able any considerable
OF his sales OF shares without advancing
the price materially.
What with yearly eight per cent dividends TO be
paid aud that the shares could scarcely
borrowed for delivery better than MAT, and often
only the payment OF bonus, Gould Is sup
posed TO stand short OF his present line at
Sgurcs which will not exceed IS. As evidence
VI the scarcity Of the stock is the fact that
lot OF 900 shares, called in yesterday by the Com
nodore's brokers' stieued up the borrowing price to
Lilo OF l per cent per day bonus, whic shares
Of other securities freely dealt in at per cont
per annum paid for carrying.
With the penny wise pound foolish principle which
usually characerzcs great bodies the Secretary OF the
Treasury has been saving at the spigot and splitting
At the bung" Following the example OF the Congress
nonal Committee, which has been Topping dune or
acre and dollar of there. with the threatened
result OF consigning Ministers Plenipotentiary
10 the back attcs of Continental towns and
ronsus TO the ums he has succeeded selling the vc
per Geneva award bonds TO syndicate represent
ing foreign interest about per cent below what
they would have brought open market here. As
established by the sales of gold which had been received
purchase money the bords have realized about l1sh
currency. while the current market rate is within
fraction Of liz
Libcraty Is a very commcndablc qualification, both
in governments and individuals; but there times
when IT like charity, should be shown N homo.
.MtM
aggregated only about IS coo shares which distrb
uted among the most active stocks folows:-New
York Central and Hudson sos; Erie 900; Lake Shore
l4700; Northwestern 2,lo0 Rock Island, 7o0 Pacific
Mail % 800; ST. Paul, 1900; do. preferred lSoo Ohios,
200; Western Union, IL, 600 Michigan Central 1850;
Delaware, lackawanna and Western, 1850
OPENING HIGHEST AND PRICES
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