The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-01-03
The Stock Market Irregular, with Tendency
10 Higher Prices.
GOLD lO7 l-e A 100 rs A lo7
Government Bonds Steady and Investors Taking
in Their Dividends Money on Call 6
and Per Cent-Ralway Mort
cages Generally Firm.
WALL STREET,

WALL STREET,
TUESDAY. Jan. 2--6 2. NJ
1t II agreement that New Years Day
shall be considered the saturnaa OF tho year, and due
allowance is made for festive brokers who next day
found assiduous worshppcrs at the shrine Of B
and than at that OF c. and H., L. s. other alpha
betically designated securities Of tho board list
Despite this concession and the Generalization at
tcndant upon scals upon the unconverted" than
the sainted Baxter dreamed up the stockbroker
ing fraternity turned up this morning in greater num-
bers aud in better than could have been reason
ably expected
In better spirits too, and with hopeful views
Of the future though they had looked through tho
convivial glasses Of the ee day with feelings
verse Of darkly.
This was evidenced by the strong tone Of the market
the better prices made and the generally existing feel
ing that the of the year would bring about turn
in luck.
The Improvement was not wholly due, however to
more sentiment, but founded upon good and su1-
Glen: reasons, the OF which that the railroad
compact had NJ last taken dente shape and was likely
to be carried out IN its integrity.
This belief was founded upon tho fact that Messrs.
W. h. Vanderbilt Jcwett, Scott and King officially
representing the great trunk lines, having become
weared oil the hopeless wransle OF their subaterns
met together and shortly the straight
Rs giSt OF the agreement ~ tnat charges
shall be marked up five per 100 pounds East
bound freight thus making the tariff on grain and
hour IS cents fourth class shipments 40 cents
Chicago the seaboard.
1t is also stated that passenger TO and from
Chicago and New York the future to be SIS in
stead OF $l3 as at present. and further that efforts
will Ebo mado to equalize steamers freights.
10 that shipments may DO made from the
West directly to European ports by way of tho four
great Atlantic cities at and the same price.
Tho information in regard to the above settlement
had visible effect upon the market, and was par
nculariy marked in Lake Shore and Michigan Central
both of which were largely dealt in at advancing
figures, the former netting per cent and the latter
u per cent Saturdays closing prices
There is an uudoubtcd strength in the whole mar
ket. but the decided tendency to better figures is
baked by doubts Of tho political future and by Mr.
Sayis privileges.
This gentleman. having set up in business as q ped
lcr of puts and CALLS is doing lively trade select
way, his ''straddles and spreads' being plenty as
peanuts in the street, and in many Instances obtain
able for about moderate financial consideration.
Next to the stocks above named came Delaware and
LacKawanna in point Of activity some 16 600 shares
changing hands between 1874 and 743s at which latter
price 1t closed.
Large purchases to cover shorts have been made by
DTOkeTs VI l"cnty-tuTu stTect party, assisted
the battalion scalpers who follow tho lead of large
operators assduously colorcd brethren do
the movements of regimental brass band
Changes few in other securities, but such as
there pointed toward higher prices almost the
only exception being In the OF Central and Hud-
son. which from 1924 where 1t had ruled for most of
the day, sold down to 1908, just at the Close on
transactions of less than ], 600 shares
1t simply the old trick OF raidng down the price
when support absent and resetting OF night
lines by the skull and bones poachcrs who banker
after dead mems shoes Ohio and Mississippi shares
manifested in the directed toward tho
consolidated bonds, the interest the same-due to-
day-boing left unpaid. In spite OF disbursements on
account OF interest and dividends money remained
cessvcy close. final transactions being made at 1872
coin interest
Gold broke to 1863, but closed at 107 the carrying
rate being per cent
THE SALES TO-DAY.
The following the sales OF active stocks to-
day:-New York Central and Hudson, 300 Erie,
1000; Lake Shore "a 500; Northwestern 6o0 do pre-
ferred, 1850; Rock Island, 1850; Pacific Mail, 500:
st. Paul. 500; do preferred, 800; Ohos 800; West
ern Union 2, 100; Union Pacific 100; Delaware Lacka-
and Western, $4,000; New Jersey Central 600;
Michigan Central IL, 200; Illinois Central 100; Della
ware and Hudson Canal, 100.
OPENING, HIGHEST AND PRICES
The following table shows the opening highest and
lowest prices OF the day.