The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-02-21
The Stock Market Active, with
More Steadiness.
GOLD lO5 IL A lO5 5-S A 1O5 IL.
Advance in New York and Jersey CentralS,
Decline in Western Union and
the Coal Stocks.
Money Easy at from 3 to 4 per Cent
on Call
WALL STREET,
IL Ia . L.

TUESDAY, fcD. zu--o r. u. J
Tho stock market requires a text upon which TO
preach It's daily sermon Of fluctuations quito much
as does divine in pulpit. To-day it had two OF
them, in the shape OF tho annual reports of tho Della
ware and Hudson Canal Company and the Delaware,
Lackawanna and Western Railroad Like Mr. Moody's
sermons. they were cheeriuly confident Of
promising future, but had nothing agreeable say OF
the present The report Of tho canal company
concludes by stating that 'he fixed annual charges,
including interest aud rentals and dividends
upon leased lines, do not exceed So, 900 900.
The receipts applicable to their payment, entirely
exclusive Of any profit fully S. This
would seem to suggest that profit coal to tho
tent Of ST. 600 600 is necessary to make up the deli
cheney. AS this OF gain seems 10 DO quito out
OF The question at present and that the contrary fact
exists IN the shape Of positive loss every
brought 10 tide water, 1t would be interesting to
how this additional achciency IS 10 be provided for.
Tho Delaware and Lackawanna company arc less
perspicuous in their statement, and deliver II the
public they do some OF their coal, In slump"
Thus. their coal lands real estate, stocks and bonds,
materials, &C., given in the form OF aggregation
Of figures, without detailing tho nature of sccuri-
ties stating whether the valuation is founded upon
first COST present market value arbitrary apprasc-
men. Ono fact to be sufficiently demonstrate
however, and this is that even should both
ends OF expenses be made future
dividends Will be utterly out Of the ques-
lion until tho proc Of coal shall have
considerably advanced above that now ruling. In
carly dealings the opinions OF operators practically
applied seemed TO be favorable to the anthracite fan
cies but subsequently, in attempting to digest the
ports something disagreed with them. The first
imcnt induced an advance price, the second fall,
and n blending OF tho two an erratic coursng up and
down the list, marked by wide aud sudden luctua-
and aft noi nm
10 SIX fell back to 53 and closed ut 81 few seller
sixties being placed concession OF per cent
der the market. Delaware and Lac kawanna, however,
proved fur less explosive, It's variations being confined
within 81 and 647S, the closing quotation being 65la.
BY all Odds however, Western Union was tho pet
speculation of the day. dealings beng
the extent of 646OO shares 1t came up
to The scratch this morning still staggering
from tho ugly blow received from the Atlantic and
Pacific action Of yesterday. and condition
stand up against the hammerng Of bears and the
deluge OF long stock. Consequently there speedy
breakdown from 66 to 631l aud painful rally to G5 IL
In final sales. Lake Shore, under fluctuations oil l
per cent and moderate saics lett to the industries
oil the scalping crowd, and opened and closed without
history. Precisely the same commentary may be
passed upon the rest OF the list save that Pacific Mail
appears to be daily gaming strength from some
not yet dvuigcd having to 26 and closed within
fraction thereof Tho creation of an "open board
of brokers" Is likely to bring tho old board
to its In respect to the commission
law. Not much good is expected to come out of Naz
areth, but there has been sulicicncv OF 1t compel
meeting OF the Stock Exchange This afternc when,
by vote OF 800 to H. tho subcommittee having the
consideration OF the commission law charge wero
desired 10 report to the Governing Committee tho
of the meeting that charges to outside parties
should be made 1.I6 OF per cent, to members 1-32
and orders where the principal is at once given up
81 per 100 shares.
The nearly unanimous vote may be looked upon al
most as pcremp,ory instruction, and the Governing
Committee will undoubtedly regard 1t.
ACTIVE STOCKS
The transactions at the Stock Exchange to day
aggregated l03,373 shares: New York Central and
Hudson, 400; Erie, $780, Lake Shore, 20, s00 North
western, 1000; do. preferred 5000; Rock Island
1885; Pacific Mail, $780, St. Paul, 1.600; do pre-
ferrcd 1900; Ohios. 1900; Western Union, g. 000
Wabash, 100; Atlantic and Pacific Telegraph, 2110;
Delaware and Hudson Canal 1921 Delaware, Lacka
and Western 49, $780, Now Jersey Central. 3lls,
Michigan Central, ,515.
OPENING. HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest and
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