The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-18
FINANCIAL and COMMERCIAL.
The Stock Market Depressed and
Prices Sagging.
GOLD 112 Ia A 112 So,
Money on Call 3 and 1-2 Per Cent-Gov-
eminent Bonds Firm-Railway Bonds
Easier-Coal Stocks Unsettled
Foreign Exchange Steady.
WALL STREET.
WEDNESDAY, May 17-6 =. IA.

:
II yesterdays stagnant market was not exactly
weather breeder II at least created breeze todayan
IN that blew nobody good but the bears, who prob
ably regarded 1t the gentlcst OF zcphyrs.
Opening prices OF the usual speculatiyes not
whit worse than tho closing prices OF the day before,
but they speedily commenced TO weaken under the
pressure OF various circumstances does q sick
with a complication of maladies.
Lake Shore made bold start at 81 but almost imme-
diatcy fell away under the report OF more unfayora-
BILE condition OF the Commodore's health ana tho be-
lief that the Osborn and Henry Smith parties sup
plying the market with stock Tho result was even
tuay carry the quotation down to So, from which
staggered up 4 per the finish the purchases
Of such ephemera shorts make II a rule to close up
contracts with the days business
Western Union which has been stubbornly firm for
some days back, despite the fact that Jay Gould has
been feeding the market with cash purchased
by him against sellers options slowly gave way under
The pressure, which rendered still heavier by the
belief that the rival Atlantic Pacific would
shortly announce further cutting in rates. There
10 doubt that this will DO done tomorrow, and will
axe the shape of decrease OF from live to twenty-five
rents per message 10 all points not yet reduced and
will particularly affect the OF New York city,
Brooklyn and Jersey City, to and within these
places will be charged twenty for words
and cent Tor each additional word, in lieu OF
twenty 1.-Two cents aud two cents for each add
tional word, prevails This further cheaper
ing OF tolls, learn from the best authority,
Is consequence of the largely increased business and
receipts which have accrued TO the company from the
previous reduction. Whatever may be the result to
stockholders there Is no question but that the public
will no greatly the gamer, and IL only necessary to
establish a confidence in tho permanency of these
auctions General Eckcrt the gratitude OF
The community.
For wonder Union Pacific woke up from its slumber
ana quite skittish for time the extent OF
l. 500 shares Of stock. This amount marketed
decline from ga to COZ, at which figure Goulds
alter ego put IN an appearance and an end TO the de-
slime the time. II supposed that the stock
vas sod Tor Boston account
Pacific Mail which proverbially cantankerous. cx-
hihcd this quality to-day by selling up instead OF
Town, il having opened at 204 with to 2lts at
The cosc Shares were in demand for delivery and for
the purposes OF transfer the books closing for election
Saturday, and as high MS lie day paid for
tho of tho stock Rather sharp trick at
tempted to 10 played by JAY Gould TO prevent tho
transfer or shares which he had previously sold into
The names OF other parties 1t seems that quantity
Of stock standing in the name OF W. i. Conner lGouds
factouD to-day presented for transfer when tho
applicant was greeted with the information that there
blank certificates ready be issued in place of
the surrendered ones and moreover that the proper
official to sign the out OF town; hence the
holder OF the stock would necessarily have to leave
Il and lay out of its money value take
away without transfer and useless him for voting
purposes II stated that tho Governing Committee
would hold meeting this afternoon, which by resolu
hon would compel Mr. Conner under the rules of the
Board 90 furnish proxies to such parties bond
Ede holders of stock standing in his name
Perhaps OF tho whole market Delaware and Lacka-
wanna and New Jersey Central betrayed the greatest
weakness, the former declin,g from 1864 to 1884,
md the latter from 9lss TO S91 although there
fractional rally in the first and per recovery
In the second at the close
The market closed with slight Improvement but
fcverish and uncertain as TO the future.
The transactions at the Stock Exchange to-day az
Eregated 100 94s shares
ACTIVE STOCKS TO-DAY.
New York Central and Harlem, $780, Erie, $780,
lake Shore. So. 500; Cleveland and Pittsburg $50;
Southwestern, 600; do. preferred, 500; Rock Island
r00 Pacific Mall, 300; st. Paul, $500; do. pre-
erred. $500; ohos, 1855; Western Union, So $50;
Wabash a35; Union Pacific 1880; c., c. and l. c.,
BOO Michigan Central, 4, 500; Delaware, Lackawanna
aud Western, $3.50; New Jersey Central, GAG; Union
Mining Company, 1,ol2
OPENING. HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest and
pwcst prices OF the day.