The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-01-28
FINANCIAL and COMMERCIAL
An Active Stock Markct-Ths Bears Rampan'
and Bulls ExSpcrated-A Ger
erh Decline.
GOLD QUIET At lO6l-S A lO6 IA A lO6 Is
Government Bonds Firm Money on Call 3,
A and Per Cent-Railway Mort
cages Steady.
WALL STREET, III

SATURDAY, Jan 27-6 NJ
Everything was turned topsy-turvy to-day and the
market which has been in u state Of "wobbe" for the
two or three past days, lost It's balance and expe-
renccd serious fall The Election bill and the cheer
ing prospects which II holds out had naturally given
rise TO general bush feeling, which the large opera
tors improved by giving vigorous upward push TO
speculation, attracting thereby numerous following
for tie long account and at the same time forcing
shorts to close their contracts Unfortunately bulls
arc short-winded in these days, aud when they md
themselves tho clover OF ungathered profits are as
eager to realize them their cornuted namesakcs OF
the fields are TO crop the succuent trefoiL
lopsided market having been thus created, with
never a speculator- giant pygmy.-but that found
himself full to the chin OF shares, and with no
outsiders taking u deeper interest than was to be
obtained from gallery view the chance OF unloading
without breaking prices was slim indeed. The occa-
SION was rendered still moro unfavorabie by tho weakly
condition OF tho coal iancies, which staggering
about on their hook without reference TO the
OF tho great railroad specaties This was
especially true of New Jersey Central, which turned
out 10 be the real sensation OF tho day. II proved
by preciptate drop from 32ss to 2s7l and closing
rally 29H. To the old story Of financial embarrass
ment now become chronic by repeated iteration, were
added the effect that tho President Of tho
road, having made a careful ante norton examination
fatal termination had applied for additional aid to GER
tain financial practitioners OF this city but without
avail.
In fact II is said the services Of receiver (who acts
a sort of pro-mortuary undertaken in the case
Of moribund corporations) were limited at as being
most likely to be needed aud most appropriate
under the circumstances OF the Further, 1t was
that free sales Of long stock were being madc
on Philadelphia ORDERS and vague aud probably base
A.
which had dealings with this and the other coal COM
panies embarrassed thereby.
Nor did the bears allow the occasion to pass without
adding their destructive mite and this was effected
by hammcrng the price Of Lengh and Wikesbarre
bonds, which are guaranteed by the Central road
There being buyers on hand, the price was easily
driven from 81 to 521s, though II finally recovered
to SO.
The final rally Of per cent was owing to tho secur
ing OF profits by bears who had sold short ~v in tho
daya procedure by the way, which obtained for the
whole market.
Delaware and Lackawanna fell Off from 72i4 to 7O15,
and returned to I'M, through sympathy with its
companion and tho rest Of the list
In Lake Shore and Western Union the California aud
Morgan parties lively sellers at declining prices,
the latter commencing the entertainment by throwing
overheard lot OF 5000 shares Of the first named
stock, which had been acquired the previous evening
under circumstances not entirely unknown TO tho AZ.
quentcrs OF The Fifth Avenue Hotel.
The net result was loss oil nearly points to
Lake Shore ana OF IL Western Union, the decline
in the being checked in the last hour through tho
medium of purchases by the nrm who were heavy
buyers few days ago.
The remainder Of tho list swung along with the
prominent avortcs and with thom closed at slight
Improvement on lowest figures.
THE TO-DAY.
The transactions at the Stock Exchange to-day
aggregated 209, 900 shares -New York Central and
Hudson 1,56O Erie, 1e00 Lake Shore, 63, 800; North.
western, 100; Northwestern preferred 1.4o0; Rock
Island 4740; Pacific Mall $500; 81. Paul. 1,230; ST.
Paul preferred, 1920; ohios, 400; Western Union,
$50; Wabash, 200; Delaware, Lackawanna aud
Western % 800; Now Jersey Central 1885, Michigan
Central II, 900; Delaware and Hudson Canal, 1900.
OPENING HIGHEST LOWEST PRICES
The following table shows tho opepng. highest anl