The New York herald., 1876-09-28
The Stock Market Still Deprrssed-Bear
Influences at WOrk-A Startling
Break in Reading.
GOLD ITO A 100 7-S.
Money on Call 1-2 and Per Cent-Govern-
ment Bonds Firm and Railway Bonds Barely
Steady-Foreign Exc -ange Quiet.
WALL STREET. l
WEDNESDAY. Sept. 21--6 r. N. !


The bulls who IN tho absence OF customers for their
stocks ind difficult to maintain an advance Ms the
Israehtes did make bricks without straw, were
taken by the horns again morning in the shape OF
n sharp onset on the Western fances. The Twenty
third street party. who have been so successful IN
leading unfortunate bovines to the shambcs, were
credited with the work. while the Broad street clique,
which is identified with the Northwestern and Rock
Island properties, were go
Meek gentle with these butchers
time to abandon all resistance as though they
had lost all heart and spirit
The Northwestern stocks suffered the most, the
common selling down from 347s to 3l7s and the pre-
ferrcd from 59sI 5711, while Rock Island fell Of
from lo3al lo3 and st. Paul preferred from 81 to
59sI A belief IN a showing OF decreased earnings, as
against those of last year which were exceptionally
good Tor the attack, and In the absence
OF any strong support was sufficient to toppe over
the seadiness OF the shares Late in the day,
when the pressure withdrawn, the Broad street
party began think the shower might be over, and
rushed the rescue, with the effect OF ralyng both
the Northwesterns per cent and Of stopping
u further decline Rock Island and ST. Paul preferred.
But the toll and trouble confined to our own
market for a side blast from Philadelphia bore the
news that another coal carrier had come TO grief and
Joined the noble army of martyrs. Tho peculiar posi-
lion Of the Philadelphia and Reading Railroad Com
pany for long time bean the subject of comment
In stock circles Although affected by the same ills
that have produced such disastrous results in the
other coal Carriers this stock has been held by main
force in condition Of steadncss which was due rather
what seemed TO be the madness OF the strong party
behind it than its intrinsic value. For weeks
back the Borie party, who may or may not be
Identical with the Mcssrs. McCalmont, of London,
have been persistent buyers OF the stock at SS seller
sixty days. have taken all that offered at that
rate up TO the amount 1t Is said OF So 900 100 900
shares. This morning the bag seemed TO have become
full for the pernacious broker, with his stereotyped
BID to the amazement of the Philadelphia Board,
missing A few hundred shares sold at the old price
OF IS, and then came tho beginning of the end. Tho
next sale at 20 Zoo shares being enough at that
price) and after that gradual decline to Ga u,
with which figure the business OF the day wound up.
Tho Reading Company having declined to observe
The rule OF the New YORK Stock Exchange which re-
qures an office of transfer and registration in this city,
was summariy stricken from its list Of stocks some
years ago, and necessarily dealings in the property
have been limited scale on the part Of homo oper-
ators. Consequently the supporting influence OF short
sellers lwho besides frightened of by the difficulty
of procuring shares delivery found wanting at
the supreme crisis and the natural result ensued.
Tho anthracite shares were somewhat affected by
the disaster to their sdc partner New Jersey Central
dropping from 26si to 25, and Delaware and Lacka-
wanna from Az 1884, although, the rally OF the
market toward three O'CLOCK each picked up about u
per cent OF the above loss
Prices although considerably better at the close than
nj the period of the day, did not quite hold, and
the market finished fevcrish and unsettled.
SALES
The transactions at the Stock Exchange to-day ag-
eregated 147, 800 shares. New York Central and Hud-
son, 1000; Erie 1907 Lake Shore 16 400; Northwest
ern, 51oO; do preferred, 8, $50; Rock Island, 520O
Pacific Mail, 10000; ST. Paul, $500; do. preferred
Is 500: ohios, 900: Western Union, 2, 700; Wabash,
1l00 Union Paclfic 500; c. c. and /. c., 100; Dola
ware, Lackawanna and Western, $500; New Jersey
Central. le,65O Michigan Central, $50; Dcla-
ware and Hudson Canal Company. LOCO.
OPENING HIGHEST LOWEST PRICES.
The following table shows the opening, highest and