The New York herald., 1876-01-01
FINANCIAL and COMMERCIAL.
A Fancy Rise in Stocks for the Benefit OF The
New Year, on Dull Market
GOLD ll3 A ll3 l-8 A II3.
Money on Call Loans from to Per Cent
Governments Firm-0ther Invest
ment Securities Steady.
WALL STREET, 4


or course after the meeting Of the railroad magnates
yesterday and their resolve mark up Of freight
to a paying price, the stock market expected to
sympathize with their decision So IL did at the open
Ing and for a while there thunder all around tho
horizon, grateful TO bulls but discouraging TO bears
Unfortunately the effect did not last long, and the
market which opened were, with savo OF artillery
closed with creptation of Chinese crackers specu.
lators, rule did not take much 'stockn IN the
promised advance in freight charges They felt that
there a doubt about the programme being faithfully
carried out and OF that doubt they took the benefit
There was nothing Il this reported harmony OF
railway spheres. Many and many time before had
the chord been struck by apparent community
OF Interests and many times had there followed a
discordant result ke bells jangled out of tune
and harsh"
In a word Stock Exchange people DO not believe IA
these publicly professed railroad friendships. Their
experience has been that sworn compact,
in congress assembled" is but the prelude
to rupture at the dictation Of individual
greed There is confidence in the bargain as being
binding and surprise is felt when evidences OF
special rates and general 'cntting down" shown.
as proofs Of breach OF solemn contract So often
has this unfathfuness occurred in railroad compacts
that II would almost seem II they meant play at
the old game OF "beggar my neighbor," or, at the
most would be conented with that questionable sats
faction which the poet tells US
'the pleasure is as great
OF being cheated as to cheat"
Nevertheless believe it not the result OF the meet
ing yesterday had decided effect upon the railway
market and particularly upon Lake Shore, which
opened per cent higher than yesterdays clos
ing price and gradually improved upon the until
the end
Michigan Central as one OF the contracting parties In
N. hv tg
sess but little faith the action OF its coneres for
though It commenced with good show Of strength, IL
eventually fell OF good per cent rallyng somewhat
at the close.
Pacific Mali early IN the day colided with tho
Twenty third party and went into dock for
pairs, damaged two per cent from best figures
or Union Pacific there nothing to be said except
that judging from stupor, Jay Gould has not yet
mended his wrangle, and the stock won't wash among
general operators.
with the exception OF the favortes above referred to
the market calm June regatta The half
holiday feeling which had less manifested itself
during early hours later on developed itself into
whole holiday feeling which simply put stopper on
anything like business wound up the day in general
fun and frolic-
Although this last day Of the dying year records
past tweivemon'h OF disaster, prvation and disap-
pointed hopes the Stock Exchange broker is nothing
dsconcerted but looks forward hopefully to the good
time coming Nothing can disconcert his equanimty
or crush his spirits, and when the blackest clouds
lower he is quick the silver Inning and trust
ing confidently the future, under good or bad
auspices chooses his the old classic words
''yu desperaadpuA"
The transactions to-day aggregated $4,000 shares,
which we're distributed follows:-New York Central
and Hudson, 1850; Erie, 400; Lake Shore, 43, 600;
Cleveland and Pittsburg 1907 Northwestern, 500; do.
preferred, l,o6o Rock Island, 1000; Pacific Mai,
Il, ZOO ST. Paul 1850; do, preferred 14Oo; ohios,
o75; Western Union, Is, soo Union Pacific ZOO Mich
igan Central, 8, 800
ADVANCE AND DECLINE.
The following the changes in closing prices since
yesterday
ADvASoE-Central and Hudson, \ Delaware, 1.acka-
wanna and Western, = Hannibal and ST. joseph, u;
Lake Shore, a; Northwestern. y ; do preferred, y;
Ohio and Mississippi Rock Island, q ST. Paul pre-
DEcLISK-Michigan Central Z; Pacific Mail, 4;
Quicksilver u.
srArroxARY-Atlantic and Pacific Telegraph. Erie,
Harlem, Panama, ST. Paul wabash, Union Pacific,
Central of New jersey Is District Of Columbia bonds
gold
OPENING, HIGHEST AND LOWEST.
The following table shows the opening, highest and
49, 4..~.