The New York herald., 1877-09-14
The Stock Market Active
and FeVerish.
GOLD STEADY AT l03 IA.
Government Bonds Weak, States Steady and
Railroads Irregular.
Money on Call Easy at 4 a 8 a
3 Per Cent.
WALL STREET.

THURSDAY, Sept 1876 p N.
The hurrah given to prices yesterday seems to have
been the purpose OF aGording fair shot at the
market to-day, aud in its general infant recall the
device employed by the Narragansstt Gun Club when,
by the exhibition Of stuffed cat, it is essayed TO
s'nushn the sluggish and rccalcitrant pigeon. The
shorts in the market are, however, SO few and 80
feeble that sman amountof '@care'' goes long way,
and by roon its power exhausted from want OF
material to work upon. Meantime the bull leaders
had made ajudicious use of their time by supplying
the and by working OF upon credulous believers
in higher prices amounts of stock they found
q demand for With the short interest satisfied,
however, the market hesitated, next yielded, and
was finally precipitated into state OF weak
ness which characterized by the lowest
prices of the DAY, and SO continued to the close OF
business The coal stocks were undoubtedly at the
..head and front of the offending" they the
heaviest on the list and hung with mllstone pom.
derosity upon tho necks of the stronger fancies.
Their market price having been about doubled during
the last ninety days without possible reason, ether
than of sheer speculation 1t is NO cause for sur
prise that they should have reached the end OF their
tether Like the 49, 600 men of the French king, they
have been marched the top OF the h and tho ndi-
cations are that they arc about to be marched down
again. At least OF the generals was in full retreat
so-day and the dapidated condition of his command
the primo cause ol tne oePreso'on "uion sP'eau
throughout the active list OF tho trunk lines
Lake Shore was most seriously affected, declining from
sa,s to 62s II Is street belief tnat Gould lie quietly
selling this stock short each rally and this, added
20 the impression that bow window people are busy
issuing their sP p c. 's in the direction, and
that Mr. Vanderbilt Is coquettipg with the Canada
Bouthern line is sufficient account for the prevail
ing heaviness.
Tho other main lines, with tho granger shares SYM
pathzed in the decline to the extent Of 2 per cent
and Illinois Central kept pace with them on tho spccu-
lation conducted by cable between the New York and
London markets
In spite OF the flourish OF trumpets in connection
with crops and the blare about the revival OF trade
the vaulting ambition OF the bull party seems likely To
rome to ground with a cropper.
Appearances arc that prices will recede to healthy
and conservative point, which may be placed some.
where midway between the old limit OF undue denres-
sion and the artificial height lately attained.
THE SALES TO-DAY.
The sales OF active stocks to-day aggregated 195 900
shares which were distributed folows:-New. York
Central 1876; Erie, 6450; Lake Shore, $500; Wa
bash 500 North western, 1000; do preferred, $3.50;
Rock Island, 3,O00 Delaware, Lackawanna and West
ern, 40, $685. New Jersey Central, $40; Delaware and
Hudson Canal s, 100; Morris Essex, s62; Mcni
gan Central 16 800; Illinois Central 100; c., G. and
Ind Central $50; Hannibal and St Joseph, 1000; do
preferred SOa Ohio and Mississippi, 2,4oo; Western
Union 13 700; A. and p Telegraph, AIS; Pacific Mail,
l,60O; Fort Wayne, ITO; Milwaukee and st. Paul,
i2975; do. preferred, II, 900; Phtsburg 1907 Quick
silver. 2o6; do preferred, 200; and American Ex-