The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-12
The Stock Market Heavy, but
Strong at the Close.
G FOLD 1O3 Is A 1913.
Government Bonds Lower, States Irregular
and Railroads Quiet.
Money on Call Easy at g a
8 Per Cent.
WALL STREET,

TUESDAY, Dec ll-6P. H..
The s'bg Injuns" Of speculation being inclined 70
the pipe Of peace to-day and refrain from hunt
ing either bull bear, the small forced to
paddle their best they knew how. There
was not much difficulty In this, Tor there were
financial winds OF sufficient importance TO
rufe The dun surface of speculation. A catspaw In
Ere which grew out of the foreclosure proceedings
and carried the price down from 9I TO ~ and back
again to Sh, was nearly the only disturbing element
OF the day. aud proved to be bref sharp.
Something OF the same kind occurred with Lake
Shore, which similarly fell of fraction from the
opening figures, but subsequently advanced TO 597s,
and closed within quarter per cent OF the highest
price, Why this stock should have been SO de-
sidedly strong Is not apparent. since the foreign
might justly be Interpreted
favorable to rise, inasmuch tie capture Of Plevna
may lead 10 q cessation OF hosttes and an ultimate
peace which Is about the last thing the holders OF
Western shares would care to see. In sympathy with
Lake shore, the granxers advanced about one per
cent and did Western Union from expectations Of
q dividend and under some wild hopes that distr-
button OF reserve stock might be made also. The
coal shares were, anything. less strong than for
say or two back, confluence IN the probability of the
great companies coming to satisfactory agreement
beginning to ooze out II Is doubted whether Mr..
E0wen, of the ReadLg road, spite OF his ''plan,"
really desires any comb If he does, that he
wants 1t other than all his way Taking the
production OF his company Tor the current year
(which, II IL said will to 5000 900 Of tons)
q basis upon which The proportionate allot mont
10 the several companies may be made Mr. Gowcn
would completely control the trade the price and the
situation. In this Wow OF the 1t Is considered
very doubtful whether q satisfactory arrangement is
practical In TINS connection considerable attention
has been directed 10 circular printed in the morning
papers and emanating from Mr. G. 4. Smith, the Tor
NOR president Of the Reading Company, In which
we're animadversions made upon the management
oil the road and the direct charge advanced that over
$4,000 600 have been distributed durn the last I'VE
years excess Of net earnings Mr. Gowen tee-
graphs to-day that the statement has been published
Tor stock joobng purl oses, but as yet makes sign
is 10 how much OF truth or fiction It may contain
the apathy OF the earlier hours gave way the alter
a sharp rally, aud the market closed strong
and active.
OPENING PRICES
The opening prices to-day were:-Western Union
Telegraph, TX; Pacific Mail, 21x; New York Gen.
ra, 1861; Ere, 9,s; Harom, las; Lake Shore, 5sH;
Northwestern, 33A do. preferred, 641s; New Jersey
Central. IN; ST. Paul, s4>s; do. preferred, 7oA;
Wabash, l4I Ohios. 81 Lackawanna, 5oX; Morris
ana Essex. 7Sk; Hannibal and S. Joseph, Tx do
preferred, rs; Atlantic and Pacific Telegraph, 22x;
Delaware and Hudson, SIX; Michigan Central, 55h;
Burlington and Quincy, l0lb.
rrnstvn ouor ArroNs