The New York herald., 1876-07-29
An Active Stock Market Prices Irregu-
lar and Speculation FeyeriSh.
GOLD STEADY AT Ill rs.
Money on Call 2 Fer Cent-Government
Bonds Quiet and Firn-Railroad
Bonds Generally Steady-COal
Stocks Again Lively.
WALL STREET,


From the earliest dealings in the coal stocks it was
Belfevident that the vaultng ambition OF the bears
had oercaped itself and threatening disastrous
rupture OF antic,patons ii not Of contracts.
To person ignorant Of the mystery OF selling short
The spectacle OF the mob Of spectators clamor-
susly buying security which yesterday they with
equal clamor were Offering almost to give away, would
appear somewhat inconsistent but brokers do not act
from judgment, but from impulse, and follow leader
like the silliest OF Souhdowrs So this morning when
some OF tho wholesale operators went in 10 cover
their shorts and reap their profits most lively
retail business started in the same line,
and the united demand Delaware and I.ackawanna
flying IRON 94 aud New Jersey Central from 81 TO
60 The sharp demand quickly revealed the fact that
there very little Of either stock Offering upon the
market for borrowing purposes, and holders we're en-
abed to squeeze ut time high as one half per
cent out Of their advcrsares or days accommodation
on each 100 shares Of Delaware and Lackawanna, and
thus enjoy toothsome morsel OF mixed revenue and
revenge. Stock gambling, however being synonymous
with neither death taxes, is very uncertain
amusement and such bulls in the coal stocks believed
that the decline and nothing renamed for
them but TO catch all the arks they wanted under the
falling sky doomed to disappointment whom the
market suddenly turned and commenced TO
20 down almost fast 1t went
up The timid short interest had scuttled
out OF danger with commendable prompttudc, and the
main stay OF the price disappeared with it; conse-
Quently there recession in Delaware and Lack
awanna IRON 9s TO 967a, with recovery to ~ Al the
end. and fall in Jew Jersey Central 10 63h, which
was the closing quotation.
The advance the coal stocks magnetized the rail-
road list considerable degree, better prices being
obaincd for all the active shares, but late the day
the improvement was lost. and the market closed
verlsh and excited Michigan Central, which had i'd
vanced per tho report that the earnings for
the third week in July showed OF SIS 21 SS
over the period of last year. took the back track
when 1t discovered that the year had been
trunsposed, and that the result had been loss
Instead OF gain, proof that it makes the differ
ence on Change to whose cores whose bull as it
does bucoc circles This mistake carried the quo
taton down a. y, though the sales Of considerable
line OF long stock by house that has been or
less identified with its fortunes may have helped the
decline. There rally at the close to 421s, due to
the covering Of shorts
The feeling on tho situation is growing decidedly
bearsh and the largest operators present who would
be classed second third rate in full meeng)
acting upon the short side with their second class ab
ity-a force which at the moment becomes power in
the market
rHE sALxs
Tho transactions of the Stock Exchange to-day
aggregated 171.90O shares-Ncw York Central and
Hudson, 4Oo Erie, 100; Lake Shore a. o2o; Cleve-
land and Pitsburg, S35 Northwestern, 600; do, pre-
ferrcd. $500; Rock Island, $50; Pacific MAIL 4,9Oo
St. Paul. 5000; do, preferred Ii, 600; Ohios, 46OO
Western Union. 10 6O0 Union Pacific, $50; Delaware
Lackawanna and Western, 81 $40; Now Jersey Central
II, ITO; Michigan Central, 33,675; Hannibal and st.
Joseph, 800; do. preferred. 9O0
oPxNING HIGHEST LOWEST PRICES
the following table shows the opening, highest and