The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-24

FINANCIAL and COMMERCIAL.
The Stock Market Active and
Weak.
A Break in the Stocks of the
Trunk Roads.
GOLD LOG rs A 107 A LOG rs.
Government Stocks Quiet and Firm
Railroad Bonds Higher
HONEY on CALL EASY At l t-2A2 PR CENT.
WALL STREET,

WEDNESDAY, nay 2o--o u. M
The amount Of to-days transactions was increased
BY 73000 shares yesterday Is record. most OF Il
being due business in the trunk rail-.
road linea Oddly enough, tho handspring OF the
speculation wound rp IN Chicago and tho
going al that place by telegraphc reports to
hc effect that passenger rates had been cut down IRON
e23 TO SIS between that city and Now York. Neccs-
sarly Mr. Vanderbilt was named Ut tho head and
front Of the Offending, and It was stated that he had
cablcd hts Instructions this city fast train
the Pennsylvania road which saves three hours Of
limo the provocaton for action, and the p;nci.
Pile that slime Is money! Mr. Vanderbilt proposes to
the aforementioned road and 60 So better pas
senger rates lieu OF increased speed. To
this report tackled on, like rider TO q
legislative bili further rumor that the
scheme tor pooling earnings between the trunk
roads had come TO untimoly end. Whether the
story absolutely true one OF those tales which
"lics like TRUTH was hardly known and mperfeclly
inquired into operators being satisfied greedily
upon any narration that would give start the
ket. Such q start II unquestionably got, and II
in the shape OF general Decline which depressed the
prominent trunk limos from to ~ por cent and
left the closing prices ut the lowest ebb day
Surprising that these tales have been en-
trey for the marine corps of the Stock Exchange,
and that tho chance OF agreement among the an.nra-
cite companies Is equally uncertain, 1t would seem
that we are again upon tho brink OF a railroad and
coal war which threatens the stability OF prices Bank
Of Commerce stockholders voted to-day to
reduce the capital from $l0,oOo0oo to S5,ooo,ooO,
by which step they will cut down the
levy for by one.half hope increase dvi-
dcnds In proportion. belief that this result would
follow marked tho price OF tho stock to Ito ia
The matter OF the issuing OF special guaranteed stock
by the Fort Wayne road, which It is claimed has been
quring thirty days. notice, and which has resulted
. suspension Of dealings in the stock for the time
being, this afternoon before the Governing Commit
lee for examination About 81, 500 600 gold coin were
booked Tor to-day's and tomorrows shipments with
out, however, affecting quotations, which remain at
1868 LOT. The rumors set going to-day were an abb
solute godsend to speculation and acted like a steam
pump upon market which threatened to be speedily
waterloggcd. Rumormongers have little in common
with the lilies Of the valley and though they toll not
and ordinarily spin nothing but destructive yarns
anent the value OF properties they were to-day re-
garded with especial complacence contributors to
The spirit OF speculation 1t was TO their magna-
ton rather than TO tho assistance OF prominent pro-
isssional operators and outside sympathy that the
market owed such activity as it cvinced.
TIE SAILS TO-DAY.
The sales OF stocks to-day aggregated 234 255
shares, which distributed follows New York
Central, 23,525; Erie, 1900; Lake Shore, 6o,455;
Northwestern, 3,l06; do. preferred $500; Rock
Island, Is, 100; Milwaukee and St Paul, 125o do. pre-
crred, 10000; Pttsburg. 100; Delaware. Lack
lwanna and Western, 1855; Now jersey Central,
1890; Delaware and Hudson Canal, 1885; Morris and
Essex eco; Michigan Central, 1890; Hannibal
sI Joseph, 500; do preferred, 100; Ohio and Mssis
sppi, 600; Panama, 100; Western Union, 1850; Pa
cHc MAIL 5000
OPENING HIGHEST AND LOWEST
The following table shows the opening, highest aud