The New York herald., 1876-11-01
The Stock Market FeveriSh and Prices
LOwer-A Bear Raid.
Ct OLD 10 A 10 9 7-S.
Money on Call Z, 4 and 2
Per Cent.
Government Bonds Steady and Bail
way Bonds Strong.
WALL STREET,


TUESDAY. Oct. 3l--6 r.
Spectators have remained quietly occupying the
anxious seat during morning hours waiting Tor news
IRON the railroad meeting, while prices pvosed around
last evenings quotations within radius OF half per
cent. While the pools thus waiting the moving
pf the waters slight and unexpected eoullition was
Produced by u foreign telegram announcing none
Vary panic in Berlin and per cent decline In English
sonsvia For = brief period there occurred rather a
sharp rally IN railroad shares and an advance in gold
irom 1904 to HOY. but the Improvement was evanes-
cent and prices soon settled back 10 tho ola ogrot Of
fractional fluctuations.
Western Union was rather exception, however,
and was carefully looked after by ts friends OF Ex-
change court Who expressed their confidence IN the
property by purchases OF some 1000 shares At 135s
Whether this confidence Is misplaced or no, remains 10
be seen, and depends upon what sort OF point
rappui may be construed out OF Jay Goulds position.
II extravugan stories OF his short line but hall
true the showing good but II, on the contrary,
there be In the reckoning Is not unlikely,
the party nnd themselves in the breakers before
they know II .The bearings OF this observation lays
In the application on IT,"
During this period and up to two O'Clock Lake Shore
hovered about 61 Michigan Central at SO, and other
stocks the neRhborhood of opening figures, and tho
market lay dreary waste, with never speculative
cuitivator life. About the above hour,
however, It became evident that something had hap
pened which was to be applied to the market to tho
dctriment Of prices; and it quickly appeared In an
eager selling movement which carried everything be-
fore It. Al one time time veritable stampede was
threatened and under the Lake Shore tell TO 50
and Michigan Central 10 Az, whle Western Union
touched 7l without OBVIOUS reason, and the rest OF
the market became correspondingy weak-kneed from
Bympathetic fright.
l. tn g. ~oIuv
az TO whether believers in imminent cessation Of
the railroad not reckoning without their
host particularly when the latter possessed the inhos-
pitabe disposition attributed TO Central aud Hudson
This afternoon 1t was accepted that tho reckoning
all wrong and proof OF came in the shape OF reports
that the meeting had broken up in disorder. having
achieved nothing, and learned nothing except the
views of Mr.. Vanderbilt, which unpaatabe as
spoonful OF physic and hard TO swallow a bolus.
Although the effect upon the market was thus sig
nincant, u Is doubtful whether the cause was not
exaggerated, since nothing OF q positive nature was
known, and the reports disseminated q leakage
through closed doors.
The truth appears to be that Messrs W. H. Wander.
blt, Garrett Scott Jewett and Sloan, as presidents
ind representatives of their different roads, at the
cfnce Of the latter gentleman at midday, and with
closed doors discussed the situation the being in
progress at the close Of business at three O'Clock
Dscsiou decision, the effect was as though nm
adverse one had been made and stocks suffered ac-
sordingiy, prices closing at decline Of from one to
thros per cent and about the lowest quotations Of
the day.
sALRs TODAY
The transactions at the Stock Exchange to-day aggre
gated l52 TAO sharcs-New York Central and Hudson,
TOO; Erie 1900; Lake shore, 6o,o4o; Northwestern,
800; do preferred, 1000; Rock Island, soo Pacific
Ma,L 10, 900: St Paul. 1000; do. preferred, 5,7oo;
ohios, 1000; Western Union, s2.5oo Wabash. 1900;
C., G. and l. c., 100 Delaware, Lackawanna and
Western, 2s $50; New Jersey Central, 1900; Michigan
Censra, 1870
OPENING, HIGHEST AND LOWEST PRICES
The following table shows the opening, highest and