The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-20
The Stock Market Active and
Generally Weaker.
FURTHER DECLINE IN THE COAL STOCKS.
Government and Railroad
Bonds Firm.
GOLD 100 3-8 A LOG 1-2.
Money on Call Easy at l Ia
a 3 Per Cent.

w
WEDNESDAY, April lJ--d 7. II.
Notwithstanding the fact that the from Eastern
Europe freighed with the ''pride. pomp and
circumstance Of glorious the great money marts
the world show little disturbance and the price OF
gold ut homo tends downward The advance which
has akon place In the premium has been especially due
TO the vague idea that the foreign holders OF bonds
would, In OF war; them here Tor sale. They
were looked vagrant chickens that likely
TO como home to roost inopportune moment, and
tho rise in the gold premium simply expression
that their considered better than their
pary. Possibly this opinion may be erroneous one;
possibly the old chivalrc feeling which led man TO
melt down his family plate and convert its
value into patriotic bullets has died out;
possibly there exists keen appreciation Of
the main chance tho grip upon what
we've got may be armor and more selfish than IN tho.
sdcn time At any rate there is no evidence as yet
that foreign holders OF bonds disposed TO BIO
scared oil nrst class Investment, guaranteed by
nation at peace for the questionable securities OF
;ontinont which may ut any moment be at war. Thus
AT there has been tender Of bonds in unusual
way from foreign sources, and no corresponding de-
mand Tor the gold equivalent but rather, on the
.rary, inclination Tor further purchases tor
ncnt securities ut fair market rates There is no
Snowing what would have been tho upshot Of The gen.
erul speculation to-day had the coal stocks shown
respectable degree OF soadiuess Their principal effort
seemed 70 be get rid OF the strength which they had
exhibited ut the close last night In this attempt
Morris and Essex led tho way by slumping OF
from II 10 65a Deriving, US II does, its chici value
rom the guarantees OF Delaware and Lackawanna its
merit a security measured by the worth OF tho
after stock What this worth is It Is diicult get
II. Directors say much moro than 1t is selling for;
market price says 49, and Twenty street experts
ray 50 81 - per share. not 10 draw too limo point
upon at that. Who is TO decide when financial doc
tors thus disagrce2
Figures show that the lease to the Lackawanna Com
pany has proved Improbable one and It Is a iar
Inference suppose that the lessee would ike TO get
tut OF the bargain; bat how Is the question.
As the matter stands 1t Is somowha. akin TO OF
landlord and tenant in which distress tor rent
practicable, and under which the Coal Company Is
liable to be sold out Tor non payment
Most Of the days business being confined to dealings
in the coal stocks but lttlo lett for the
railroads, which auctuatcd between per
limits and renamed iairly steady.
The sales OF stocks to-day aggregated 1873 $40
shares which were distributed as follows New York
Central 2023; Erie, 200 Lake Shore, 20 TO; North
western, $685. Northwestern preferred, 1900; Rock
Island, Il, $40; Milwaukee and St. Paul. 800; Milwaukee
and ST. Paul preferred, 5000; Pittsburg, 200; Della
ware Lackawanna and Western, 50, $50; New Jersey
Central, 100; Delaware and Hudson Canal, IL 400;
Norris and Essex, 1884 Michigan Central s. 70o Iii
nois Central, 700; Union Pacific 200; Chicago, Bur.
lngton and Quincy, 400; Hannibal and ST. Joseph,
ZOO Hannibal ST. Joseph preferred, 100; Ohio and
Mississippi 200; Panama, 200; Western Union,
47loo Atlantic and Pacific Telegraph, 100; Pacific
Mail, 1000
OPENING, HIGHEST LOWEST.
The following table shows tho opening, highest and