The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-03-14
The Market CHARACTERIZATION Decline
in the Coal Stocks.
GOLD l04 5-S A l04 ga A 104 SIS.
Government and Railroad
Bonds Firm.

WALL STREET,

TUESDAY, March 1916 T. N.
There Is popular superstition that even Homer
was caught noddng tmes-possiby under the drone
OF his sleepy hexameters The leaders OF stock spccu
lation less human than Homer and take their
shorty wnks like the poet, when the shaping OF the
market turns out to be all Greek to them They have
been taking them Tor the past days and in
quence, prices have slumbered sympathy. nothing
sufficiently sensational occurring wake up the
ket and keep II awake The nearest approach
to II to-day to be found in the
of Central and Hudson, which from
95X to 97A and after auctuat.ng between these ex-
tremes, closed at nearly the higher figures
post obit flavor about the directed at
tention to the Surrogate's Office and received
speedy recognition in the intelligence that the
litg!ous contestants OF the Commodore's will
had seen at 10 withdraw all objections and that the
instrument itself had been admitted to probate.
What the nature oil the sop thrown 10 Cerberus,
presumably by Mr. William H. vanderbilt did not leak
out did matter, the material point settled being
tho fact that serious menace to the stability OF the
stock had been removed Acting precentor the
kct chorus Central and Hudson quickly struck the key
note Of an advance in the railway list Most especially
Lake Shore and ST. Paul preferred inclined TO
follow the leader, but they quickly lost their voice
when it discovered that Michigan Central and the
rest ofthe list possessed for Improvement Con-
sequently with few exceptions the railways finished
where they began, utterly unaffected by the dispo-
stion OF the s'last will and testament" OF tho
great railroad king Something different, how
ever Is to be told Of the coal carriers, particularly
OF Delaware and Lackawanna which bore the heat of
excitement and the burden OF sales Of the day.
Nearly 81 900 shares changed owners prices which
varied from 60 to 81 to 593s and back again to COZ 1t
turned out that the bears were little rreciptate
their early desire to cover there help close
hand, but hidden. Eventually 1t came, however, In
the shape of an announcement by the Pennsylvania
Coal Company of sale by auction tho Goth inst.
Of 225 900 tons OF coal, the to be delivered from
tho company's docks at Newburg during the months
of April and May. At the present prices and with the
stock offering ut rates already sufficiently unremu-
neratve this advertisement came ike the traditional
straw In the story of the camel and certainly broke
the back of the Delaware and Lackawanna MARKET as
we have noted above. The short interest, how
ever, is persistently SO great that, though 1t may
be a rock OF offence, 1t On occasion becomes OF
defence, did to-day And 1t showed itself in this
way for tho decline checked, the course prices
reversed, and there ensued lively scramble tor
shares, for profits and for higher figures Delaware
and Hudson participated in small way both In deal.
ings and In fluctuations, but New Jersey Central
passed by though 1t publican sinner and
all the good Samaritans OF the board had loft the
little to attract attention.
The bears not altogether confident of things in
the future shaping their way, and the bulls not
sanguine Of their own outlook, though in the
language Of venery there symptoms Of their horns
being in the 'vevet" with fair chance Of full deve.
opmcnt during the early spring.
TO-DAY
The sales Of active stocks to-day aggregated 1885, 900
shares. which were distributed folows:-New York
Central $780, Erie, 800; Lake Shore 1910; Wabash,
745; Northwestern 800; Northwestern preferred 600;
Rock Island, $50; Milwaukee and st. Paul, 800; do.
preferred 800; Delaware, Lackawanna and Western,
3D. $780, New Jersey Central 1000; Delaware and Hud.
son Canal s,70O Michigan Central, 050; Illinois Gen.
trai, $40; Union Pacific. 221 Ohio and Mississippi,
LOO; Western Union, 11,546 Atlantic and Pacific
Telegraph, 4,742; Pacific Mail, $4,000
OPENING, HIGHEST AND LOWEST.
The following table shows the opening, highest and