The New York herald., 1877-10-05
FINANCIAL and COMMERCIAL.
The Stock Market Active
and Changeable.
GOLD 1O3 A 1O2 3-4.
Government Bonds Lower, States Steady
and Railroads Strong
Money on Call 3 q q
Per Cent
WALL STREET,

WALL 6rRERr
THURSDAY Oct A-6 r. n.
We're stock gamblers a. au fait in shs science Of
horses and hounds. pink coats and pigskins - they
are in the mysteries Of privileges snd options they
might sportingy describe to-day's business as being
= rafting run from "dnd to dnlsh."
Plainly. the activity commenced ~ gong sound. and
snly ended n gong sound, with the interval covered
BY one OF the most sctvs sessions Of the season-
The carly part Of tho day was marked ~ contin.
uance OF the upward movement and . push toward
higher prices. which participated IN by the whole
list, with Central and Hudson, Lake Shore, Michigan
Central the grangsrs and Western Onion In the van.
In the afternoon prices Tell or under sales reaL
and market receded. with the coal stocks down
about per cent aud the railroads weaker by half
Mat amount.
Its superstition In the street that these bursts OF
activity, whether upward downward, are compasscd
within the limits OF thres days, 10 . decne 70
greater or less extent was expected II by no means
follows, however, that, because the orasng bull party
has consumed It's three days ratons, that further
denomination will not be made to succeed II In fact
the whole tone Of speculation 10 In unison with this
idea and higher prices confidently looked Tor and
promised by the bull leaders II % TO be regretted,
however, that the public remain deaf as adders to
the seductive phrases which drop from the lips of the
chief priests OF specustion and refer back to tho
have been buttsrsd BY equally nns but fallacious
words Briefly, the public docs not take much
"stock" In promises, and exhibits It's sceptcism in
keeping religously out OF the war, The Van
derbilt roads carried briskly up to-day
under the report that wages to operatives had been In
creased Eve per cent This was construed TO mean
that The improved business Of the lines warranted
increase Of the payroll, and, as . eqvttur, enhanced
values for shares-a result which must have Infinitely
pleased the Of his father ne regarded how large
whale had been caught with so inconsiderabe tub.
Tho coal stocks In early dealings advanced Two
points and the combination story. From what
can be learned the companies are thoroughly sick OF
their previous attempts In that direction and by no
means Inclined 10 return TO their vomit-not At least
until something more stable than . verbal contract
be hit upon or In fact, until some cash penalty
can be agreed to, which will bind the compact with
something stronger than the previous ropes Of sand
Toward noon rather sudden recession In ths price
OF Michigan Central tended to weaken the whole mar.
ke rendering It fsversh for the rest OF the day and
bringing up quotations the end al from to two
points below the bes. nsures Of the session
OPENING PRICES.
Gold, los; Western Union, so; Lake Shore, ST. New
York Central, l0aH; Michigan Central, cox; Rock
Island, 1o23i; Delaware, Lackawsnna and Western,
4oh; Delaware and Hudson, A; Norris and Essex,
75,s; Northwestern. lok; do preferred. 6sk, 81
Paul. 40,<; do preferred, 71kj Onios, OK, Eris, l2j
Wabash, le,<; Illinois Central, Is; Pacific Mall, 2sk;
C.. c. and 1. c., s; Panama. ll3k; c., C @. and l., 6s
Union Pacific, o.; st. Louis Northern. 6kt do pre-
serred. 2ox; Quicksilver. 2lxi do. preferred, sskj
American Express, Saxj New Jersey Central Is, Han.
uibal and ST. Joseph, lsx; do preferred 2sx; United
States Express 4s wells-Fargo Co, bid 81, Kansas
and Texas 6x; Chicago and Alton, s3K; Harlem,
l42h