The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-06-17
FINANCIAL AND COMMERCIAL.
Government Stocks Higher and Strong.
Railroad Bonds Steady. but Duls
HONEY ON CALL EASY At IL A 2 PER CENT.
Gold 1O5 a 1O5 1-S-The Bank
Statement.
WALL STREET, I
A a N A

SATURDAY, Juno 10 r. N
Tho impetus given TO the market in the last hour
yesterday strong enough to keep IL forging ahead
this morning and in moderate way during the whole
day Such irregularities occurred werc occasioned
by a flight Of halt nedged cauards which not
strong enough of wing create much commotion
either TO prices activity. Like young Lochinvar
they came out oil the West and had TO do with the
railroads OF that region. At one time tho portent was
to tho effect that the last trains would be discontinued
ana passenger fares marked up. This considered
good for the railroads, aud prices advanced.
AT another time the portent that charges
upon eastern bound freight to be lowered to the
schedule Of those prevailing upon lake and canal.
This considered bad for the railroads, and prices
declined. In the intervals. when canards wore air
ing, the market grew dun and prices lowered In fact,
first class Roman augur would not have advanced IN
obous for all the satisfaction he could have gotten ont
OF tho entire flight Tho bow window people, however,
derived or pretended to derive some qualification out
OF the stories, for they buyers OF many thousand
Shares particularly OF Lake Shore, which pushed
up IRON 57s TO 5S3s only TO snk back again to IS at
the close when the purchasers found their measures
oil stocks heaped up, pressed down and running over
Central and Hudson acted sort Of lackey TO tho
Lake Shore speculation, following It up and down
fluctuations, but Keeping modestly in the rear In
amount Of transactions, as ackey should do. Mover
DetWecn
shares, which hard to onehalf the business OF
the day. The st. Paul people, who have been regard
ing the next crop theoretically, the grasshoppers
likely to do practically the time comes, and
who have backed their opinion by Tree purchases, to-
day stirred up the embers OF speculation in the pre-
fcrred stock, end for q time singed the bears Sc
veroly. Over $4,000 shares, an unwonted amount,
changed hands, the price rising from 49x 10 SOS,
with set back ~ the close 10 5oll Western Union
Julkod to a moderate business, being comparatively
left alone--good Samaritans since the company's
statements, being inclined TO initiate the example
Of the '0ther mani and pass IL by without recognition.
Tho coal stocks wandered this morning quite out OF
the track OF speculation and no one seemed disposed
10 look them up beyond the limit Of few thousand
shares Much unnecessary talk, 1t seems US, is be-
ing had In relation to possible paymen OF the new
Tour per cents silver dollars Certainly intima
lion nor idea OF such conclusion was limited at
turing the discussion in Congress OF the act which
authorized their ISSUE In fact previous legislation
with regard to government bonds has been all the
Dher way; for, II VIC remember right, several years
ago. when similar point came up in regard to the pay.
ment of fve-twentes, Congress passed bill ordering
them to be redeemed In gold coin. 1t is very certain
that nothing loss than gold at par will purchase them
now, and any repurchnsing Of them at maturity on
worse terms would be practical population Of such
difference may then exist between gold and silver.
Such contamination would BIO one that We do not be-
levc Congress anticipated, and know that the
people Will not submit to.
THE sALEs TODAY.
Tho sales Of active stocks at the Board to-day aggre
gated 1872 600 shares, which distributed fol-
lows--Ne York Central IL 450 Lake Shore. IS, 60o
Wabash, 1850; Northwestern preferred, $500; Rock
Island 6,576; Milwaukee and St Paul. 400; do. pre-
fcrred 15,300 Pittsburg $50; Delaware, Lackawanna
ana Western, 10, 700; Delaware ana Hudson Canal,
ALSO; Morris and Essex, 5000; Michigan Central,
1925; Illinois Central 500; Union Pacific, 97o Ohio
and Mississippi, 100; Western Union, 23, 1902; Pacific
Mail, l54; American Merchants Union Express, $40
OPENING, HIGHEST LOWEST.
The following table shows the opening. highest and