The New York herald., 1877-03-02
An Active Market, with a General
Depression in Values.
GOLD lO4 IL A l04 3-S A 1O4 IL.
Investment Securities Irregular and
Generally Lower.
Money on Call Easy at 2 and 8
Per Cent.
WALL STREET.

THURSDAY, March l--6 p. NJ
Tho day has been of disappointment to those
who pinned their faith upon the long side oil the
kct Yesterday they In full dg, ready to throw
up their hats and cry Bravo taurol" does at
Spanish bull fights; to-day they down their
luck aud the animal they backing being
u craven Assurcdy there Is not much of the Anda
lusian strain In tho present Stock Exchange bulI he
attacks ieebiy. retreats quickly squirms ut the touch
OF seller sixty options. and cvinccs appetite Tor
"lds strtpas" applied 10 the OF opposing
bears.
Things opened passably well this morning, but II
apparent that the boldness OF the bull party
oozng out like the coinage from the palms OF Bob
Acres hands; IN fact that they lacked pluck hold
the MARKET ethor from desire realize the meagre
gains Of the last days they feared tho
future.
Indeed, some Is allowable TO the bull party In
their effort TO gather such crumbs OF comfort may
come in their way, since Tor long time back they
have sought them Lazarus like. At the loot OF bearsh
tables, and found but meagre repast SO they have
acted upon the precept that half Loaf Is better than
bread, have apparently abandoned the attempt TO
sustain tho market, and have let the whole matter
by default
Apparently there were two events which tended TO
depress prices to-day; the one in the telegraphic
from Washington, which showed q strong spirit
Of opposition to speedy termination OF the electoral
count and with II the fear OF election and the
long Of uncertainty, excitement and stagnaton
oi business which must ensue. and the other IN the
decision Of the Supreme Court in respect
to the Granger Perhaps the latter
the potent Of tho two, nasmuch
IS It's bearing, although nominally confined TO
The Northwestern and St Paul properties in reality was
ai much wider scope, and affected BY implication the
rights Of all railroads the country through.
sko
State, through Legislature has tho power deter
mino what the railroads within its borders shall
have the right TO exact for freight aud passenger tolls
The repeal OF the Objectionable Potter
the called Granger roads from the restriction
time put upon ihem but the decision Of tho Supreme
Court empowers the Legislature to re-establsh the
same at It's will
The news of the above decision had the effect Of
breaking down the price Of ST. Paul preferred to 45
from which II rallied to 46 in nnal dealings
The pending lawsuit and tho failing business Of the
road, which 1t is stated will show decline tor
the last Of February of $5o.O00 in
comparison with the period OF last year,
more potent in lending weakness to tho security
than any other
Western Union held It's own with comparative
strength during the day. while Lake Shore notably
weak.
The meeting OF freight agents did hot place
expected, some Of the prominent parties failing
put in an appearance.
At the close OF the market the general In.
clned weakness, the Same being added by trans
actions the open Board (after adjournment OF the
old Board), in which Lake Snore was sold down
10 4Sh
THE SALES TO-DAY
The sales OF active stocks to-day aggregated 1872 100
shares, which distributed as follows New York
Central and Hudson 1925; Erie 2,450; Erie pre-
fcrred 515; Lake Shore, Al 1885, Wabash $50; North
western 500; Northwestern preferred 200; Rock IL
land, 1900; Milwaukee and St Paul, 2300 Milwaukee
nndSL Paul preferred, 49, $780, Pitsburg 1OO Delaware.
Lackawanna and Western, ~, 475 New Jersey Central
IL, 750; Delaware ana Hudson Canal 1880; Norris and
Essex, 100; Michigan Central 10O illinois Central,
100 Union Pacific, 200; c., @. and l. c. 800; Hannibal
and ST. Joseph 400 Hannibal and St. Joseph preferred.
100; Ohio and Mississippi, 800; Western Union. 50;
Atlantic and Pacific Telegraph 200; Pacific MAIL 11OO
OPENING HIGHEST AND LOWEST.
The following table shows the opening, highest and