The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-12
Great Excitement in the Stock Markell
Field Day Among the Bears.
WHAT THE WRECKERS ARE DOING.
Gold 1O5 1-2 a 1O5 7-S-Govern-
nnent Stocks Firm.
MONEY 8 Al PER CENT ON CALL.
WALL STR EEr,

"WEDNESDAY, April ll--O /. M
Gold is up 10 1861 the imminence Of Euro
,ean war. and stocks down. some OF them disas-
lrousy partly from inherent weakness and partly from
The mach atoms OF the wrcckcrs who control tnem
There has turned be more truth than fiction In
The reports OF yesterday that the Northwestern stocks
he'd been thrown OF loans by some OF the CITY
banks and the notification comes In tho iact that
Mcssrs. II. Kennedy Co., who have long oeen idcnu
ed with The speculation this property, being unable
TO obtain accommodation elsewhere, were Iorccu 10
sell for cash upon unwilling market Had times
been better, or had more faith existed in tho security
among capitalists, tho transfer OF certificates into
stock might have been accomplished with ittlc loss,
but existing circumstances being in opposition
10 tncso conditions serious break in prices and
SUSPENSION OF tho above firm naturally followed.
On the 18th November last we had occasion TO re-
mark OF tho Northwestern and St. Paul stocks that they
act as though their figures were clothes some sizes
loo large for present values ana they were shrinking
them down to ntn and further, that they were ian
incubus upon the hands OF holders This expression
OF opinion drew forth indignant denial from the
Northwestern Company, who were much aggreved at
The mputaton AT that date the quotation for North
west preferred 5sZ and for the common 341s to-
day the prices respectively Ala 1895. AS to
whether the shares are an ncubus" or not reference
can be made to Messrs. Kennedy Co. Rock Island,
which seems to have had OF morganaic con-
nection with the Northwestern family, even before
Gould came in with his black sheep relationship,
is down to DIX to-day, from 9GA yesterday
morning. in pure sympathy. In fact tho presence
oil the above gentleman IN the direction has been &C
compancd with the customary amount OF pitch and
The inevitable dchlemcnt which cnsucs. Stockholders
have been getting Of bad company by skipping out
OF their shares thus relieving their minds from appre-
henson and their pockets from loss, while they leave
the mysterious ocus in quo' OF the companys 49, 600
shares 10 solution OF moro interested parties The
boulepersement OF the Western stocks turned things
heels over head lively manner. but those who
thought sunlccncy of evil tor the day had already
occurred were mistaken. The coal stocks, which had
been hating between tho two opinions OF rise and
fail suddenly toppicd though all doubt as to
tho proper direction been settled there and them
and serious matter grew out OF II,
for positively stated that the Dcia-
ware and Hudson Canal Company had applied
for receiver upon their own account THIS
news being spread broadcast, for the time being
the board was treated TO first rate imitation OF
panic il not reality, during which the price OF
Delaware and Hudson foil from AN to SO, and Della
ware ana Lackawanna 56S to So At this point the
fright was put an end 10 by Official denial upon the
part OF the former company OF any steps having been
taken on their part for reccvership, and an equal
denial from the second that they were financially en-
barrasc This contradiction OF the injurious reports
turned the course prices like flash, and Delaware
and Hudson spurted TO Al y and Delaware and Lacka
wanna 81 q, and then closed Western Union, pad
ding It's own canoe, far Atlantic and Pacific would
allow II TO do so, was largely dealt In 10 declining
prices which at the end showed loss OF per cent
on the days transactions. All othor stocks, being
out OF the IN uence of the tidal wave moderately
dealt in at figures which grew no better as the day
grew older.
THE TO-DAY.
The following werc the sales OF &C tive stocks to
day:-New York Central, s,S2i; Harlem, 100; Erie,
B0o Lake Shore a. $780, Northwestern, 4,775; North
western preferred, TO- 4oo Rock Island 1910; Fort
WAYNE 1885, Milwaukee and 81. Paul 1900, Delaware,
Lackawanna and Western, 81 900; Now Jersey Gen.
trail 600; Delaware and Hudson Canal, 20, 700; Nor
ris and Essex 675 Michigan Central 81 50o Illinois
Central l,4oo; Union Pacific, 500; Ohio and Missis-
sippi 1000; Panama. 500; Western Union, 67,l3o;
Atlantic and Pacific Telegraph, s10 Pacific Mail,
1900
OPENING, HIGHEST AND LOWEST
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