The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-08-25
FINANCIAL and COMMERCIAL.
/ Weak Markell Big Fall in Coal Stocks
Speculation Unusually Active.
GOLD 40 7-S A Ill.
Government and Railroad Bonds Generally
Firm-Money Moderately Active at
LIZ o 1-2 Fer Cent.
WALL STREET, !

THURSDAY, August 40 In
Although the main list cut loose from tho decining
coal stocks yesterday. it has proved but 'cut and
some again. arrangement, for to-day dsstinies are
again blended and Generalization in the anthracite
companies has spread through the whole market The
perncous example has failed to DO longer quaran-
tined, but has broken loose with that brought
business At tho close this afternoon to the verge OF
panic The disastrous decline in the coal spec!ates
has far brought failures in its train. but has
rather attracted money TO the pockets OF members for
che Board has been short OF these stocks for
long time back and arc now reaping the crop pre-
viously planted by capitalists and investors On the
latter classes on the believers hackers up OF tho
properties their management on the friends of the
officers who have the idea of disaster and who
have promised fair weather II holders would only
shang on" has fallen the heavy weight Of the blow
Things bad enough yesterday, but they have
been worse to-day. Hardly had business opened when
the wish to sell commenced, and under orders unlm-
tied to price long stock forced upon the market
Values faded away like the morning dew, shrinking
with each transaction. and giving to tho
tion-once deemed impossible Of application TO such
Vterling securities-that
The earth hath bubbles, as the water hos
And these of them.
From SO last night New Jersey Central fell or TO 40
Delaware and Lackawanna from SS1s to 80 Delaware
and Hudson from san to 7s, while Morris and Essex
decline from the highest quotations. or course, ali
sorts OF intermediate prices were made. as the
nous transactons-120, 600 shares in Delaware and
LacKawanna and Sc, 600 in New Jersey Central-gave
ample opportunity for
Unqusstonably, the chief decline o-day was duo to
mn abandonment on the pnrt of real holders Of all
ldence in the present value OF the properties them
selves although the pressure to sell increased by
fights OF canards set going by the bears that times
darkened the arr.
As previously intimated, the remainder Of the
ket found itself powerlcss to clear from the de-
moralization which the anthracite properties were
throwing or perniciously. The entire list became
infected to greater or less degree MS glance at the
record Of sales will show Even the clique stock
slipped through the fingers OF their supporters and
took the downward track, whilo such somnolent
fancies as Eric and OHIO appeared to wake up to
sense Of their own unworthiness and Topped of with
grent sprighthness This was to DO particularly re-
marked in tho case Of Erie, which, remaining mani
mate all day at 1917, during tho last half hour sud-
denly went down by the run to So 1t had much the
appearance of being hammered Ia prominent German
house acting the Cyclops OF the occasion although
the rdison d'ere was TO tho effect that plan looking
to foreclosure proceedings under consideration
London. At tho very close tho price had rallied to
l0hs, and left of fcverish and excltcd.
The sound of the gong summarily, and perhaps for
tunately put end TO market which threatened to
toppe into panic Whether a nights sober
thoughts will disspate the danger to-morrows history
can only tell
SALES TO-DAY.
The transactions of the stock Exchange to-day aggre-
gated 27G 500 shares. New York Central and Hudson
l42; Erie, l7,250 Lake Shore, 25 s0O Cleveland and
Pitisburg, 31O Northwestern, 1906 do. preferred
2l75 Rock Island 5000; Pacific MAIL 200; St Paul.
6,7oo do preferred, 3.2oO ohios, 1000; Western
Union, $4,000; Panama, 100; Delaware, Lackawanna
and Western 119, $40; New Jersey Central IS, Dos;
Michigan Central. 10 500; Delaware and Hudson Canal
1880
CLOSING PRIcKs-3 r.
The following table shows tho closing prices OF the