The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-19
FINANCIAL and COMMERCIAL.
The Stock Market Lively-A Buzz
in Pacific Mail.
GOLD STEADY AT liz 81.
Money Freely Supplied at and IL Per
Cent-The Coal Stocks Lower-Govern-
ment Bonds Quiet and Firm
Railway Bonds Steady.


THURSDAY, May lS-5 !. n.
The secret rites Of Elcuss transformed 70 the
Stock Axchange today, and the mysteries that envel
oped the course Of Pacific Nail cngrossed the attention
srt the board soothsaycr TO such extent too that
The remainder OF the market comparatively neg
ectcd and prices swayed up and down the rise or
fall Of the ruling controlled them. At hevery
commencem Il evident that the interest OF tho
dny was 10 centre ia the steamship speciality,
for. starting oil ct AK u sold steadily
up with unmporlant sci backs to FAX. which
point reached at about half-past O'Clock under
The registration OF very extensive transactions At
This hour the tide turned and ran the counter way
with greater velocity, carrying cighs and quar-
sers before Il like straws upon mill race, until the
prico marked 1884, From this figure tho stock rallied
FIX, and eventually closed at 20a bid Such is ts
history a. matter OF baro quotations It's story,
however, In respect to It's manipulation, the people
concerned and the thereof not clear and
W great degree shrouded the mystery We have
alluded %. 1t appears pretty certain that the
contest for control Of the next election (which
nay designate the sBatic OF the Proxes')
ndered by assured 10 either the Gould or
Park faction. Consequently there a steady do
aand for the stock at increasing prices and borrow
Ing inquiry for transfer purposes that notted
bonus Of x per night such holders
eontent to lend When the price reached PAN. how
ever, Gould appeared through bis brokers, throwing
masses OF stock the market and breaking the prcs
suddenly down to 19X. At this the Park party put In
appearance took all the stock offered by The enemy
(some 10000 shares) at from 20 n and
a. the close Of business remained OF the ncd
with bid on tho door or COX for 500 shares moro.
Why Gould sold Park bought constitutes the mys.
terry; and this the way street gossip solves II II 10
'd that the former individual becoming assured about
midday that he coula control tho election provided
further transfers made In favor OF the Park inter-
est, determined to close the books tomorrow morn
Ing, ana thus enectually shut out his rival This
being decided upon, the shares which he had
purchased and transferred into his own name being
no longer Of for election purposes, thrown
upon the market with double advantage Of obtaining
hptop prices and OF saddling Mr. Park with the load,
Re latter operator buying them for the impossible pur
Pose Of transfer tomorrow On the other hand Il Il
quite sapienty stated that Gould sold out because
he knew that he beaten and that tho closing OF
the books previous the days the election
(which tho 3ist inst prohibited by the
bylaws OF tho company. Il does not appear that any
action has been taken suspend these rules the
meetings called for yesterday and again for this
Ing failed to be held, tor want Of quorum AZ any
rate u us very pretty quarrel II stands" and the
Board Is indebted to its occurrence grateful diver
sion to the prevailing stupidity Of the market
Union Pacific weakened of to 59s from COX at the
opening, on sales OF some 1000 shares aud under
fear that the loss OF control Pacific Mail would affect
the stock dsastrously. Western Union somewhat
inclined to lower ngures under the hostile pronuncia
mento Of the rival company, though It stiened up at
the end; and Lake Shore may DO dismissed with the
same remark, though its fluctuations influenced
more by the reports OF missionaries from the Pacific
Nail country than from any other reasons
The most hopelcssy and stubbornly feeble security
Of the day New Jersey Central which settled down
from COX to 1884, only recovering 10 81 At the end.
The condition Of the coal trade Is 80 unsatisfactory and
prospects for future dividends that invest
mont shares gradually finding their way 70 market
and sold at rapidly declining gurss they fail
with the support which tho interest offers
In highly speculative fanc,cs
OPENING, HIGHEST AND LOWEST rRicEs.
The following table shQMa the Qnening hichast ana