The New York herald., 1877-12-01
FINANCIAL and COMMERCIAL
The Stock Market
Very Weak.
GOLD 102 3-4 A 1O3 A 1O2 7-8
Government Bonds Quiet States Steady
and Railroads Irregular.
GOLD lO2 3-4 A lO3 A lO2 7-2
MONEY ON CALL EASY AT S A s PER CENT.
WALL STREET.

FRIDAY. Nov. 3U-6 p. NJ
Taking in consideration that the occurrence OF .
close holiday Is apt to throw damper upon next
days market, speculation this morning has been
rather sprightly than otherwise. In point Of fact
howoyor, IL has been confined TO tho good, bad and
indifferent phases as exhibited by single stock II
has simply been a matter lclassicaIly speaking, Of
out Caesar a,a nutlls-Lake Shore or nothing.
Knowing nothing OF Caesar, OF course speculators
turned their attention TO Lake Shore, OF which may
turn out that they know loss This they do know,
however, that tho price Of the stock, which was quoted
at 6lS tho morning. dropped TO 621s In the after
noon and that shares obtained At the latter
pr,ce on the street alter board hours The gradual
droop in this STOCK which been the marked eatur
for some days past still perpexing the quidnune
Of the Market though its explanation was intimate
in this column some days ago. II ID seldom tb !.
stock brokers do not appreciate that ''nod'' Is
good "wlnk" and II thcy have failed this time y
is because something is the matter with tho prove'
and not because they have lacked instruction 7 !
pressure to sell Lake Shore, the persistence wi
which the market was fcd upon each rally, and u
constantly waning 1gures.. which testified to q d;
tribution OF real Stock was to bo only traceable
the important operations OF Mr.. Vanderbilt or Mr.
Keene. On very tolerablo authority we hear ths,
Mr. Vanderbilt denies to have sold share--on an
equally ocrabc supposition It is presumablc that Mr.
Keenc has sod many. SO has Mr. Gould, upon the
same hypothesis, except that he has sold prop.
erty sahat isn't his'n," and by doing
risks the penalty which the necessity for
a rhyme demands. The truth seems to be that the
believers in tho immediate iuturo Of Lake Shore
becoming sceptlcal Tho business of the road during
November has fallen below what anticipated ana
the reasons advanced 70 explain the Same founded
upon reports that tho heavy rains through the
Western country havo prevented farmers from bring
ing their produce to the railway stations. Possibly
true and probably correct, but nevertheless OF I'M.
favorable influence upon tho market price Of the
stock as also upon the dividend, which soems to be
gradually fading away from the respectable figures Of
ga 3H per cent which wero SO confidently promised.
II was rather remarkable that. whilc Lake Shore
pers,stently weak, the rest Of the market
comparatively strong. Tho coal otocks re-
mained firm the day through, while the
other actives such the granger shares, declinod
less than per cent Without any outside support
whatever, without anybody to take stocks on the
hands OF Mr. Keene and other large holders, Is only
question as to when general decline shall SGT In. The
freshet which has washed away the undcrpinnina
from Lake Shore IL likely to beat upon the iounda-
Of other railways, and even to submerge the coal
corporations they not already up TO the chin IN
the bitter waters of adversely In any event. II s AZ
certain US death that NO demand exists or
likely 10 for stocks at present prices ana that
the only chance for vcly speculative business rests
in lower range of values. which may attract fresh
material either in the shape OF investors or specu-
lators.
OPENING PRICES.
Tho opening prices to-day wcrc as follows:--Gold,
1929; Western Union, 7sI Lake Shore, e4h; New
York Central 106S; Michigan Central, 6l; Rock Isl.
and 10OsS; Delaware, Lackawanna and Western, 6oXj
Eric, 10Y; Ohios. 94; ST. Paul, 36H; ST. Paul pre-.
ferred 711s; Northwestern, 36sS; Northwestern pre-
fsrrod, 81; Illinois Central, 70; Atlantic and Pacific
Telegraph, 23k Harlem, 146h; Mariposa, 3k; MARI
posa preferred Al c. c. c. and l., 81 Kansas Pacific, q
Erie preferred, rs; Iron Mountain, TX.
CLOSING QUOTATIONS.