The New York herald., 1877-02-04
FINANCIAL and COMMERCIAL.
The Stock Market Irregular-A Sharp Con-
test Between Bears and Bulls.
GOLD 1O5 IA A 1O5 1-2.
Money on Call and A Per Government
Snd Railway Bonds Steady and
Moderately Active.
THE BANK STATEMENT DECREASE.
WALL STREET,

WALL STREET,
SATURDAY, Feb. SOP. NJ
Tho romancors OF the Stock Exchange will quickly
lose their reputation for invention unless they exhibit
greater powers Of im aginaton than they have lately
done. Days pass without the appearance OF single
canard when formerly they few IN Jocks and notning
better IL afforded for street gossip than revival OF
somo crippled veteran which has already passed
through the fire speculation. THIS poverty Of In
vention was shown to-day In the revampinq OF the
many times told stories having for their burden
fresh breaking out hosities among the railroads
and tho Imminent settlement OF the telegraph oppo-
si,ion based on a consolidation OF the rival lines
These reports came. however In such threadoare
guise that they simply met with the contempt that
familiarity is said to broed and they consequently pro-
duced little or no eHsct upon tho course OF prices
Earl, dealings wore In market that was weak and
declining tho natural result of last nights eversh
ness; but lator in the day prices grew gradually
stronger and the finish showed the best figures OF
tho session for the majority Of the active stocks
There was diminished business done In Now Jersey
Central; but IT still afforded the greatest aucuation OF
tho list with net result OF nearly TWO points improve
ment upon the lowest pricc
1t was moreover, used as lover to move Western
Union and Lake Shore upward, the Mills brokers, to
whom is now accredited the management oil the tele.
graph pool having taken this means 10 create strong
foundation for tho unloading OF these properties. It
seems quito clear that the Western Union clique got
more than they bargained for when making their pur
schases, and find they have acquired white
elephant as we'll some slippery partners how TO
get rid Of beast which they neither afford TO keep
nor give away IS tho problem which II endeavorcd
10 solve to-day by supporting the coal stocks and
Lake Shore, while telegraph shares were being sup
Piled to buyers whose appetite had been wheted by
the consolidation Tho result Of all this gerry
Wandering was TO advance New Jersey Central as
noted to market considerable supply of Lake Shore
steady figures and to creae transactions 70 tho ex
tent 900 shares in Western Union at prices
which ranged from 76T to 75H and back again to 76h
at the close. Tho bulk OF the days dca-
ings wcre in the securities above referred TO;
Pacific Mail camo next with new departure
on of its periodical voyages In quest Of market
value and manifest TO the Board that the Is
still! anoa touting for passengers for short specu
lative excursion St Paul preferred likewise did
moderately we'll in an from 4s9S to 4ot which
were It's closing figures. The Improvement was
founded upon the proverbial expression OF 1--WE are
not SO bad as We secm and proof Of this afforded
in tho statement Of earnings for the last week in
January, which, although showing loss OF $4,000 In
comparison with tho same time last year, were in
reality only half as bad as had been anticipated.
Business in other stocks confined to mcagre dl.
mensons, and was without Specification OF any kind,
the market closing up with considerable armness and
generally at the highest prices OF tho day.
THE SALES TO DAY.
The transactions at the Stock Exchange to-day ag-
gregated 151 Alt shares which distributed as fol-
iows:-New York Central and Hudson, l,o34; Erie,
100; Lake Shore, 80 200; Northwestern, 100; North
western preferred l,715; Rock Island 1,92s; Pacific
Mail II, oo0 ST. Paul, 14o5; do. preferred, 1900;
ohios 500; Western Union, $780, Union Pacific, 4oo
Hannibal aud st. Joseph 1900; do preferred, 11oo
Delaware, Lackawanna and Western, 14,4Oo; NcA Jcr
soy Central, 1Yoo Michigan Central, 4,970 Delaware
aud Hudson Canal, 655.
OPENING, HIGHEST AND LOWEST PRICES.
THO follow ,ng table shows tho opcniny highest and