The New York herald., 1877-02-07
FINANCIAL and COMMERCIAL.
Western Union Weak-Cther
Stocks Steady.
GOLD 1914 A LOG.
government Bonds and Railway Securities
Generally Firm.
Wall STREET. |
TUESDAY, Feb. Go 4. NJ. !

TUESDAY, Feb CT r. NJ.
Spectators discovered to-day that tho market
dIered case OF aut Caesar, nlilusether Western
Onion nolh,ng--though IN the scramble sell out
at one time looked like ''ncck nothing" Out OF
atotai amount Of $4,000 shares 63 600 down
10 the credit oi Western Union, tho same changing
hands at figures which ranged from TAX to 725l and
back TO 73A at the close
There have been many curious features pertaining TO
this Western Union movement
Mr. Gould's rcputed position in regard to the stock
made him iar game for an attack and he upon
by the sleuth hounds OF the California party who
pccted 10 pull him down tracks Of HIS short con-
tracts. The sequel appears, however, to show d'a-
metricaly opposite result, and not unlike the
event sung OF by Goldsmith, in which,
The recovered OF the bite,
The dog II was that died.
At the commencement OF the movement we had oc.
cason to would-be spectators against the wilcs
Of this crafty OPERATOR and point probability
Of his sailing along with the pool on tho upward tack,
acquiring stock as tncy acquired IT. and biding his
timo to tumble the whole load TO their
Shoulders.
There is little doubt but that this has happened just
as II suggested It would happen, and we tho
result in five per cent decline. 1t s to be sup
posed. however, that this speculative pressdigateur
was content to be neuter OF Mr. HeSitts
mues he had his little trick TO play and he played It,
The street calls II "put up job but the street is
over particular in It's language, and is less
when it loses money; while the pool hunting
Gould Gould was hunting the pool, and no did it in
this wsc -Ncgotiatons, carefully guarded under the
veil Of secrecy, were entered into, by which
trolling influence In tho Atlantic and Pacific line was
to be passed over for handsome consideration, to
the Western Union Company. This step would, OF
course, be followed by cessation OF the opposition
restoration of former prices and addition OF twenty
points to the market value OF the absorbing
pany. 1t dead secret, but It contrived that
the salient facts should reach the Of the prom
nent pool operators MIR. Gould commenced to buy,
the pool followed his track and the price 49,
Here occurred mysterious hitch the clique still
tnued purchase vigorously, but the price refused
advance. One day sonA 45 900 shares taken ON
single order, but the quotation did not bulge per
cent Shrewd operators, both in and out OF the pool
dropped out, being satisfied that tho supply could
como from but single source This the begin
ming Of the end, for Mr. Gould, having shifted HIS load
10 the pooi--the ereby making handsome turn and
cheapening his chronic short line 4
per cent--suddeny discovered that tho nego
tations were impossible Of contamination and that
Western Union was anything but choap at the then
market price. We give this space TO this probable
solution OF the matter tho topic the only
Of the day. the stock nearly tho only dealt
In. There was but very moderate business transacted
In the coal stocks, and Ahat TO figures which de-
clIned about per No facts fctions were
brought to bear upon them in this market,
was had for an effect to the Philadelphia price OF
Reading which reached TO 2S, after selling vt 3O5s u
day or two since.
The ST. Paul properties after advancing 19sS and
497s respectively, closed at ls< aud Ask the Sage
party having bagged the Osborn shorts have probably
achieved all they desired TO- and the stock will possibly
be left 10 sink back into It's usual Inactivity.
With the exception OF Western Union, which to a
degree cut loose from the OF tho list the
market remained passaby steady, aud though droop-
ing a. one time improved trne at the close
tttr SALES TODAY.
The following wore the transactions to. day New
York Central and Hudson, 1886; Eric 600 Lake Shore,
$500; Northwestern, 200; do. preferred, 600; Rock
Island, 12OO Pacific Mail, 1900; ST. Paul. LOO; do
preferred 600; Western Union, 62.670 Union Pacific
1000; Delaware, Lackawanna and Western, TO- 600;
New Jersey Central, $500; Michigan Central l,4Oo;
Illinois Central, $50; Delaware and Hudson Canal,
1920.
OPENING HIGHEST AND LOWEST.
Tho following were the opening, highest and lowest
-. -~Cs A.,