The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-04
FINANCIAL and COMMERCIAL.
The Stock Market DuII-The Opening Of
the Year Disappointment to
Leading Operators.
G OLD 113 A 112 "a.
Money on Call Loans Firm at Per Cent,
Gold-GOvernment and Railway Bonds
in Fair Demand by Investors
WALL SrREEr,

MONDAY, Jan SO p NJ.
stock Exchange members congregated in the hall
this morning apparently under the vague impression
that q change OF year a change Of luck Surmount
ing 1875 and landing in 1876 was expected TO be as
satisfactory the man of commissions as is the sue
cessful attempt at double fence rssping bullAnch
to rough rider to hounds There was TO GO a sure
ind to-day no turn or check in the run, and
Reynard an old dog fox tough shos leather was
to be killed in the open.
The wish father to the Thought turned out
dull day for hunters after commissions and the
soGpeon of an order as hopeless the scent
frosty day to hounds STILL "Hope had been elected
goddess chief and the 'hattering tale" told
tracted many believers, many believers who had made
that the addition Of figure to old Times calendar
to make sudden and grateful addition TO purse
and bank account Why the topping over Of 1875 into
1876 was, by necromancy, to produce sudden
improvement the condition OF the stock and money
market was not particularly clear but nevertheless
certain that operators put in appearance this
ing fully convinced that the Rubcon had been passed.
and that PLAN sailing and hospitabe port the
promises Of the future Some little action was taken
upon this idea on the opening of the market, and
prices strong accordingly, but after COM
snenced to droop from want OF outside support
There was scarcely "a per cent difference in quota
tons during the whole day Stocks were as dull as
IN the arena
Though famed by conquest's crimson wing,
lett the close better or than at their advent
The FIRST working day of the year fraught with
disappointment and the sudden burst into prosperity
quite expected, met sad reverse We endeavored to
show yesterday the why and wherefore OF the
present dulness Of Stock Exchange matters and
tured to prognostcate the future There difficult
ties which can be cured at once there are
others which time alone favorably affect
The first referred exists simply because absurd
commission law binds Stock Exchange members down
with bands of steel; a law antagonistic to common
sense and the of free trade; rule tyrannca
because impraccable; oppression to those who live
up to it. and farce to those who secretly ignore tin
q word measure which is at incubus and
fraud, and which in its influence tends not only TO
beggar Stock Exchange members, but to invite an
opposing power which, only threatening now, may in
che future loom up formidable adversary TO the
New York Stock Exchange did the open Board of
Brokers in years gone by
Verbum sap, As condensed Latin is full of meaning
recommend it to the Board OF Brokers worthy of
study, now that memberships" are offered at S. 900
and commission business is emil"
Western Unos opened at TAX, declined to
73X, and, after a brief rally to TAX, ended at
"a Pacific Mail went of from 39h to 3Sk, closing at
the latter price Lake Shore, while active, obliged
to seek market between 81 y and coz, the last
price. Michigan Central sold at 59X 59A a So
few shares OF Union Pacific were marketed
at rs and about 400 at IA Northwest weak
OF 39k 3SZ do. preferred at 56SS 56A 5o14 Ohio
and Mississippi after opening at Tx, ended at II do,
preferred at 81. Erie closed at 15I. Hannibal and
st Joseph a tri1e active at 21H 21H 81
ST. Paul common sold at s5H 35k; do preferred, at
67 Cox New York Central steady at 1o45I;
Rock Island, at los 1o5k; New Jersey Central,
dividend, at 1857.
ADVANCE
The following the changes in the closing prices
compared with those Of Friday. the as business day
of the old year
NcK-Atlantic and Pacific Telegraph. a Hanni-
TbaI aud ST. Joseph u; Quicksilver, 4; Rock Island,
DECLINE York Central, u Michigan Central
N Delaware and Lackawanna, a Erie, n Harlem,
d Lake Shore, y; Northwest "a Northwest pre-
5erred, q Ohio and Mississippi, 4 Pacific Mail, u;
ST Paul common, u ST Paul preferred, u; Wabash,
srAroNARY.-Panana, New Jersey Central and Dis
kTict of Columbia g. 90 bonds.
THE SALES TO-DAY
amounted 10 80 900, which among active stocks
divided as follows New York Central and Hudson
River 227o Erie 1,1Oo Lake Shore, 20, 900; Cieve-
land and Pittsburg, ZOO Northwestern, 900; North
western preferred, 1900 Rock Island SIS; Pacific
Mail, lS,eoo ST. Paul 1loo ST. Paul preferred, $500
Ohios, LOO; Western Union 10, 355; Wabash, 200
Union Pacific, SIS; Michigan Central, 1,025.
OPENING HIGHEST AND LOWEST
The following table shows the opening, highest and