The New York herald., 1876-02-01
Stocks Irrsgular-A Temporary Reaction
Prices Unsettled and Speculative
Judgment Of Sea.
THE HONEY ElCKEr EASY AND NELL SUPPLIED
Gold Steady at li3 a il3 is a 1l3. Govern
ments Firm. Investment Securities in
Fair Demand and Foreign Exchange
Qaiet-California Stocks.
Wan srRKKr.

MuNDAT r. n
The ares Of the Stock Exchange engine, which had
remained banked Sunday we're srfed into furious
activity AZ The very outset Of business this morning
The pressure OF steam which put Western Union
was something remarkable. and the speed with which
got over the first part OF the Journey as cxharat
ing TO rs supporters alarming 20 its enemies
The throtte valve Was thrown wide up at the very
start and the stock hew of its upward turn at =
half per better price than closed at on Saturday
aud in a few minutes gained as much more, which
figure turned out In the end 70 the best quotation OF
the day In referring 10 the Official record Of hgures
aud fluctuations, printed elsewhere, have only to
gay that the bulk OF business confined Western
Unon and that as is almost certain be the case
when single stock receives paramount attention, the
OF the market took the from the iayorite and
rose and fell as It's vaganes dictated
The various rumors pointing 10 a rise which bad
been anoat must have seriously disconnected the
short interest and possibly brokers the interval OF
Sunday, with two nights OF suspension hanging
them. had their slumbers disturbed.
And, being thus frghtod, swOre prayer or two
Aud slept again.
At any rate there Was an intensely animated scram-
ble as the gong sounded-on the part OF the
bulls TO get in and the part OF the bears to get out
which, contradictory as may seem, was accomplished
by the process that OF purchasing shares II al
most always happens that these sudden nurries are
caused Dy the ephemera shorts, whose purses, being
lean and meaere will much OF strain, and
the cry SaGve QGi peut" under very little provo
cation.
The big bugs OF the street. however. who had put out
their contracts, "not for day but for all time " take
their punishment quietly and until the small fry
have been pretty thoroughly netted when they add
few more hundreds to their previous venture at the
enhanced prices.
There exception to this rule In the days his
tory OF Western Union For many weeks past the
stock has been browsing along half apathetic state
under suspicion that there something askew In
its internal mechancism and this bee while It in
duced long line OF short contracts gave favor
able basis for the manipuators Of the market engi
neer sudden and vigorous rise upon.
The moment the clamorous and bowling mob OF
plgmy (more less injured had got out OF the
way OF the destroyer prices dropped Of the intense
interest ceased, and the stock, after threatening
surge downward, eventually closed nearly point
lower than the opening
Pacific Mail is vested with the properties as was
Western Union; there is plenty of dynamite in the
stock, which be exploded at any moment that the
magnates OF the market choose to apply the match
In their rounds OF the stock list it is quite possible
that these gentlemen may turn out ThVmmassean
hends, In financial point OF view, and hoist Pacific
Mail and its enemies with one grand detonation.
Lake Shore followed the leader in its ups and
downs but with less spirit that relatively active
though 1t was it gained but moderate advance, and
at the end showed lower standard than that which
commenced with.
Washington teegrams furnished the information
that the House after the Pacific railroads with .
sharp stick in the way OF resolution directing the
judiciary Committee TO report what measures
essary to the amounts due the government and
OF another, still vicious directing an unpleasant
to b0fho Tnfop boA
its charter In spite OF these hostile demonstrations
however Mr.. Gould kept his stock strong by simply
letting IL alone and nobody deals IL but himself
and his following probable that neither Congress
any other power q monetary disaster can
much disturb his equanimity.
The Northwestern and ST. Paul stock showed
marked decrease In dealings from day or two past
The pool in the former has apparently been pumped
dry for the present. but the bread which upon
its waters may turn up in other fancy
soaked and sodden though 1t be.
Nevertheless the Western stocks were strong with
the rest of the market despite the from the Capt.
to that the Supreme Court had failed render de-
csion In the Granger cases
The history OF the day may be dismissed with the
observation the market was characterized by an
intensely bulsh feeling and though there a swing
back at one time VIII ch had alarming look things
recovered again later and closed, If not supreme
prices, at Rast with strength that Samson himself
would have envied
D sALEs TO-DAY
aggregated the large amount Of 249 500 shares which
were divided among active stocks as follows:-New
York Central and Hudson, 800; Erie, 5400; Lake
Shore 81, 400; Cleveland and Pttsburg, 800; North
western IL $50; Northwestern preferred, 42O0; Rock
Island 24SO; Pacific MAIL 81 200; ST Paul. 10. 7Oo
ST. Paul preferred, 800; ohiOs, 226OO; Western
Union, 10, ,0o0 Wabash, 1000; Union Pacific, 1,9oo
c. Q. and |. c., $780, Atlantic and Pacific preferred,
2, 500; Michigan Central $500
OPENING, HIGHEST LOWEST
: The following table shows the opening, highest and
.-r-..t rrces or The dav.-