The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-01-25
FINANCIAL And COMMERCIAL.
The Stock Market Irregular and Fe-
veriSh on Lower Prices.
GOLD lO6 ID A LOG.
Money on Call 3 and Per Cent-GOvernmen
Ponds Active and Firm-Railway
Mortgages Steady.
WALL STREET.


WEDNESDAY. Jan. 24-6 =. NJ
Tho stock market has swung back upon itself like
boomerang. Not that anybody has been Int or
severely hurt that there is wide disappointment
over the fact that fair speculation should have re-
ceived untimely a check The decline was spread
the whole list and extended from to per cent
The strongest iavorites maniiesting little power to
resist their humber and less active neghbors When
the California party in Western Union reached
The end Of their tc,her, SO far as purchasing power
wen and tho bears OF weakly constitution had been
disposed Of, thcre resulted repetition Of the old story
Of box full OF stock, but scarcity OF customers.
Attempts to realize were by slippery dgures that
slid away like will o. the wisp ON attempting
TO grasp them, ana there Is no knowing into
what slough Of despond the pool might not have
led had judcious cry OF "hait" stopped all
further effort for tho time being.
Hereupon, It appears, u change OF tactics was re-
solved upon the Of abandoning Western Uuion
and Of marching tho forces into Lake Shore. How
thoroughly the former stock has been evacuated Is
shown by comparison OF transactions which footed
up 1000 shares Monday ana only IL, 900 to-day.
Horse, foot aud Dragons carried to the
battle ground, and yesterday and to-day have been
treated to some lively skirmshing, which up deal
ings to some "a 900 shares for this mornings work
alone. That the action has been entirely satisfactory
10 tho bull party is doubtful particularly II take
the day prices as criterion.
Official figures which, like tho Father OF his Coun-
Try, are proverbialy truthful, record quotations as
ranging from S. the highest point yesterday, to
$685. the lowest and final of the day, and this, too
In despite OF the efforts Of the pool who
said 10 acquired from 20, 900 to go, 600 shares,
mostly at the topnios; limit.
Strong antagonsm met with from more than
quarter The Twenty third bears are again
In the field cap PIE, and make sturdy resistance to
the advance BY FREQ sales OF short stock the Asht
bula accident Is assuming serious proportions and
threatens to develop litigation which may mulct the
company lin the opinion Of expcrts) to the tune of
million or SO Of dollars, while the blockade will
show disastrous depreciation in earnings when the
last Tour weeks business comes to be posted up.
or course, with the underpinning of the market
badly shaken, IN the OF these Stocks 1t Is
natural consequence that the OF the list should
suffer also. nearly every this true though
in moderate degree The ST. Paul properties
exceptionally affected by further reports Of diminished
business the earnings for the third week OF January
being but $2 055 against $7s for the
OF last year, while the placing of seller 90 options
small concession from the cash price evinces ex.
pectation OF a further decline.
The coal sales by the Delaware and Lackawanna and
Pennsylvania companies were productive OF very un-
satisfactory returns regards prices, and had
thracite stocks. Added to This renewed iumors
OF financial difficulties vague in form and not alto
gether reliable but sufficiently potent to produce
Injurious effect Consequently there occurred a sharp
decline early in the day, which, however, was some
what recovered from before the close
Gold has again commenced to sag, under all cir
cumstances 1t natural Tor It to do, and closed
at log bid though carrying rates easier at ~
per cent
What the OF the share market Is to be for the
rest of the week aiflcu oresec. Tho set back of
prices seems rather to be due desire Of realizing
secured profits than to any OF the future, and
probability Is that when this has been achieved we
shall be treated another swing upward, should the
great operators see it,
THE SALES TO-DAY
were rs follows:-New York Central and Hudson,
l03S; Erie, 1900; Lake Shore %. 200; Cleveland
Pt.sburq 100; Northwestern, 100; Northwestern pre-
ierred 13O0 Rock Island 1900; Pacific Mail, 45O
81. Paul. s0o ST. Paul preferred II, 400; Ohios, 3oO
Western Union 1905; Wabash, lOO Union Pacific,
1886; c., c., G. and l., 100; Delaware, Lackawanna
and Western, 17.40o; Now Jersey Central, $685.
Michigan Central, IA, 800; Delaware and Hudson Canal
1000.
OPENING, HIGHEST AND LOWEST PRICES.
Tho following table shows tho Opening, highest and