The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-09
FINANCIAL And COMMERCIAL.
Stocks Lively for the Day, but Comparatively
LOwer-The Bulls Attempt to Realize.
GOLD FIRM AT lib a ll3 IA.
Money on Call Loans Again Hardens-Eates To-
Day Per Cent Gold, with a Bonus
Investment Securities Strong.
wall STREET

WALL STREET, I
SATURDAY, Jan. Sc N.
"ABusv, non tonf usaAa''-translation "Abuse is
not an argument against proper use" The human in
teect has It's mental CHARACTERISTICS quite strongly
marked as has the body its physical ones Muscles
and snews taught 10 perform work Of daily
curing sameness soon become unfit to accomplish
Any other labor The functions of the mind,
tinuousy bent upon the achievement of object,
speedily become numb and incapable of approaching
topics foreign to their daily task
The stock jobbing mind particularly liable from the
nature OF Its pursuit TO jog along this coggy rut;
hence the money editor occasionally finds difficult TO
write down TO the level OF his readers. AS they
not comprehend, they contemn and by natural taste
would prefer article written in the slang OF the
slums to one expressed in decent English. There are
sgrubbers' in the money market who probably began
life grubbing in the fields, and the plough tail lost
valuable followers when they changed their vocation.
The valuable information impaired by a morning
journal that the clouds of shaken confidence and com
erca depression had all passed away under the genial
beams Of yesterdays sunny stock market turns out in
the light Of todays history be less reliable than we
had hoped for We propose briefly to sketch to-day's
history
Yesterdays business closed up SO firmly that great
anticpations INDUCED in of strong and active
market at opening this morning. Nor we're dealers
disappointed
Lake Shore and Pacific Mail were in demand at the
commencement seyerally at Ga and Ss'4, and
moved up during the FIRST two hours to GA
ana 80 There was considerable anxiety the part
of shorts and by the small deaers, who were
as full OF points" furnished by the bull cliQues,
ms paper of pins.
The Twenty-t third street party seem TO have taken
the scare also, and materially assisted the rise, al
though later in the day they partially reversed their
action. little alter midday 1t became apparent that
there a loose somewhere, which, with singu-
lar proprety found In the shares Of that company
which always having loose in its ships-viz,
Pacific Mail
1t soon became evident that the Gould people were
skipping out of their stock with all the nimbleness of
Aarys little lamb while the Twenty party
10 help make things pleasant, "came down like the
wolf the fold" and the stock came down likewise
from SO to 363s
At the same time Union Pacific which for days past
has dead a dog in ditch, only betrayng
q momentary CLEAN Of existence when sham orders
buy fractional lots for Investment sent In sud
denly manifested desire 'to make effort" also.
In an hours time less than 600 shares changed
hands, breaking the price down from 1874 TO cox
just per cent Whatever had become of the great
army Of supporters, who read with avidty
the statement perpetuay increasing earnings and
draw their eight per cent dividends did appear,
except that they conspicuous by their absence;
so Pacific Mall and Union Pacific, beng mongre
of Siamese twins in the aspect OF business brothers
took together.
The occasion Of this result is to be found in the in
dustrously disseminated report that the Panama Rail-
road would shortly put a line Of steamers both
coasts and had officially notified the Pacific Mail Com.
pany Of their intention. In order that there should be
no unpleasant contempt OF proceedings IN view
ha.
line will be established under the fiction of indvid
ual enterprise. ADDED TO this came a report from
Washington that bill would be presented to Congress-
The intent OF which would be to force Union Pacific
10 furnish certain guarantees to the TO
cure the payment Of It's interest
So these inseparable Gemni got black eyes together
and the rest Of the market went home with bandaged
erows and generally out at knees and elbows.
SALES
amounted to 10000 shares which among the most
active securities distributed as folows:-New
York Central and Hudson River, 662 Erie 2 sOo Lake
Shore a. 564 Cleveland and Pittsburg $50; Northwest
ern $50; Northwestern preferred l2l2; Rock Island
$3.50; Pacific MAIL 56,5Oo St Paul l,4oO; ST. Paul
preferred also; ohios 1885, Western Union, 80, 400
Wabash, 500; Union Pacific 6,lOo Panama, 500; Mich
lgan Central. g. 76o; New Jersey Central, $50
The change closing prices compared with those of
yesterday is as follows
ADvASoK.-Hannibal and St Joseph, y; Quicksilver,
n ST Paul preferred "a gold, a.
DECLINE New York Central, u Michigan Central,
y; Delaware and Lackawanna y Erie, a. North.
west, \ Northwes. preferred, q; Ohio and Missis-
sippi i Pacific Mail, u Panama, a. Rock Island,
n; ST Paul common p Wabash, \; Union Pacific,
2; Western. Y nion y; Erie IN London, y.
Lake Shore and New Jersey Central
OPENING, HIGHEST AND PRICES
The following table shows the opening, highest and