The New York herald., 1876-10-26
FINANCIAL And COMMERCIAL.
Stocks Alternately Strong and Weak
Sharp Decline.
GOLD 100 "a A 100 rs.
Government Bonds Moderately Active and
! Steady Railway Bonds Shade Easier
Money on Call 3 l-2 and Per Cent.
WALL. STREET.
Wvnxrsn.y net os 4 y

WALL STREET.
WEDNESDAY, oct 23--6 Y. NJ
The ways OF stock speculation are no more strcwn
with than the paths of human life, and the
rrumplcd leaf and proirudng thorn are unplcasanty
prevalent in each. They lay in the way to-day, and
the bulls stumbled them, trivial obstacles though
they at the best
The aninoon hours we're marked by continuance
OF the strength which permeatcd ast nights market,
and there further advance the most active
fsvories. Lake shore touched 63, Michigan Central
g. aud Western Union 7ss, while the rest Of
tho list less sympathized with the
speculative leaders There further
clash OF arms from the which could be inter-
prcted into call upon our sranares, and no partcu-
larry hungry bears seeking refuge from impending
Contracts which added force to the upward movement
but there rather the confidence IN better times to
rome backed by the more important element OF
wrong and bold bull party. Twenty ,hirt street is
N,n. upon its launches and lcking paws, bears
retired from business arc supposed to do while the
more lively bulls ranging through the blue grass of
q anascent prosperity.
IL is pity that the improvement in stock Exchange
values Is not more due 10 ihis better condition, and
not much to mere manipulation, but such appears
10 be the tact Notwithstanding SIN any progress
which will ift the market from the Slough or Despond
is TO be greeted hopefully and gratefully.
Having a natural desire 10 reap where they have
time tried their luck to-day at the harvest aud put
their efforts practca! by dispensing with such
stocks the market in humor to take A gen.
era recession in prices succeeded and quotations
marked down IRON one-hali to three per cent,
Lake Shore and Michigan Central being prominent IN
the decline. Hence the crumpied rose leaf Tho
thorn prorudcd from altogether another quarter, was
quito innocent OF poignancy, naturally ana was only
made the by the bears who sharpened up us
have do with railroad earnings the decline OF lite
with the elevation OF grain, would puzzle ConIucius,
but they made TO do SO to-day, and were brought
TO with the weight OF tombstones the market
Tho Continental Life Insurance Company is In the
throes OF dissolution without saving policy upon It's
own existence. Its mefier was deal in mems lives
and deaths with particular eye to the undertaking
branch OF the business but il has come out as real
speculaor and at the small end OF the horn at
that. Advances Of prepostcrous sums on houses and
lots at fancy prices have brought II TO TIE
earth which il much iancied--hayc
made il a landed proprietor OF unsalable lots and su
pernduced a receiver. Thare is doubt OF its hon
esiy, but good deal OF its best policy, aud great
certainty that something OF the decline in stocks this
afternoon was due to its uniavorable influence How
ever, tho company proposes TO show n surplus OF
hrecquarcrs or million, which should be enough to
pay expenses and receivers fees and leave the inter
ests OF pohcy holders intact
Between the realizing and the insurance company
Easco the market fell of ana was helped down BY
considerable amount of short sales which pretty
equally disseminated between Lake Shore, Michigan
Central and Western Union
This latter fancy declined one per cent, which IL was
likely DO in any event, as Is understood 10 owe its
rise 10 the Morgan party, who VIGOROUSLY short
horned bulls and apt TO scamper AT the least show OF
profit
There was a moderate advance in the coal stocks
early dealings, the Improvement IN New Jersey Cen
tra being the reconstruction of tho engineers,
but later the day the better part OF the rise lost
and they took their places among the ruck of the de-
clining shares
Although the schedule OF prices wss lower at the
nnish the market closed with fair degree of stcad
ness and without for a return 10 higher
prices in a day or two
Tho transactions at the Stock Exchange to-day aggre
gated 217 700 shares New York Central and Hudson,
ITso; Ere, 140; Lake shore, Sl,550; Northwestern,
200; do preferred, 800; Rock Island 3 300 Pacific
MAIL TO- $50; ST. Paul. 1850; do preferred, $3.50;
ohios, L. 700; Western Union, A. ol5; Wabash. 500;
Delaware Lackawanna and Western, 1895; New Jer-
yey Central g. $50; Michigan Central 1880; Delaware
ana Hudson Canal, s50 Hannibal and St Joseph 400;
do preferred, ZOO
OPENING, HIGHEST LOWEST
The following table shows the opening, highest and