The New York herald., 1877-07-29
The Stock Market Closes Strong
and Higher.
GOLD UNCHANGED AT lO5 IL.
Government Bonds Firm-Rairoad Bonds
Quiet.
MONEY ON CALL A 2 PER CENT.
WALL Str MET,

SATURDAY, July 2S-6P NJ
BY way OF lending diversity to speculation, and for
other reason that discernble, tho stock gam
bling interest to-day shifted from the railroad to
the coal stocks The news from the mining regions
came in altogether bad. Strikes among the miners,
nooding of and stoppage Of trafhn neverything
as bad as bad could he. Naturally panic in tho
curites dealt Board expected as tho
inevitable result Mines filed with water scarce ly
compensate in tho way OF bathing facilities for tho
expense of a yoar or two's pumping to render them
again 1T for coal production and the firing Of coal
sheds at this may be regarded gratuitous
addition to The existing calorc Simple minded stock.
bolders would be apt TO regard these conditions
remey prejudcial to their moneyed interests. and,
assuming the diaphanous garb Of sackcloh aud ashes
70 driven to bewa their fate far from tho
iaunts of men, Through a medium thus clouded
Is reasonable to suppose that very favorable view
u the situation could bo obtained, that In conse-
lucnoe the practical results must be equally unsatsfac
sory. II would strike most people that in view of
the destruction OF property this would be the proper
way to look at IT. but the long heads and minds
Of tho stock jobbng fraternity say mo-" and what is
more to the purpose have backed up thor negaon by
a decidedly affirmative action. Theoretically. coal
stocks should, undor o-day's news, have gone down.
practically they have gone up. Delaware and Hudson
rose from 3s15 to Al. Delaware and Lackawanna from
l1X to 40, and Morris ana Essex from 60h to 72ll.
That they did not altogether hold these prices
ut the close was simply because the sharp advance
offered chance Of realization of profits tempting
to be resisted. VI course the bulls had their
reasons for action, and thoy took tho shape
oil affirming that the cessation of minin
meant decrease OF supply, equivalent
increase OF demand aud corresponding advance Of
price, which in turn would be reflected figures
Tor the stocks. THIS theory seem fair enough as
applied to the gains to be made at the selling OF the
ne but unfortunately the losses accruing the
lucng end neither calculated allowed for. The
general market at first weak, missing the support
of Western Unon which, following the example OF tho
rocket and the stick, seems have suddenly lspscd
Into obscuri,y After midday prices generally weak
sned and though they thenceoTth subject to ts
and starts OF eebencss and strength the prices
tho day wore not recovered at the CLOSE
THE TO-DAY.
The transactions at the Stock Exchange to-day
aggregated 149,700 shares. New York Central, $500;
Eric, 1850; Lake Shore, 1885, Wabash. 900; North
l,7oO; Fort Wayne, 100; Milwaukee and ST. Paul
1900; do preferred, 66o0 Delaware Lackawanna and
Western, 80 935; New Jersey Central $50; Delaware
and Hudson Canal S,97O; Morris and Essex $3.50;
Nj gan Central, 1000; Illinois Central, 265O Union
Pacific, 5oo c., C. and |. c., 500; Hannibal and ST.
Joseph. 200; do Preferred 1907 Ohio and Mississippi
1890; Panama, 200; Western Union, l7,5o0; Pacific
Mail, 6,S30
OPENING, HIGHEST AND LOWEST.