The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-14
FINANCIAL AND COMMERCIAL.
The Stock Market Strong
and Fairly Active.
GOLD STEADY AT los IA.
Government Bonds Firm, States Dull
and Railroads Strong.

WALL STREET. |

MONDAY, August Is. ISL
The duness and absence OF excitement during the
week in Wall street somewhat aIleviaicd to-
day by the meeting Of the Delaware and Hudson drec
tors and their action III issuing new mortgage. 1t
VIII be remembered by readers OF the HERALD that
In last February exposure made in these col
umns OF the position of that company and the order
for an Injunction made by Judge Donohue with its
subsequent dismissal. The officers OF tho road were
at FIRST very vehement i'll their denunciaton of that
ntempt TO procure some formation TO thu position
Of tho company aud the probability OF their beng able
10 tide over the excitement caused by the collapse of
the Jersey Central ROAD. AT the meeting the share
holders on the sth OF last May President Dickson
stated that arrangements being made to
extend the bonds falling duo In Novem-
Der, that he believed the company
would be able persuade their bondholdcrs TO do So
These sanguine expectations have been fulfilled
ana the report Of the Investigating Committee, which,
although complete, has not yet been gwen TO tho
public, must be OF exceedingly adverse character
tie directors to-day resolved 10 issue mortgage bonds
for Sl0,000000 The following notice to-day is
sued BY the Delaware Hudson Company aud was
signed BY tho President Mr.. Thomas Dickson
This company have executed mortgage for
10000, 600 upon its property IN Pennsylvania. This
mortgage includes and covers $5,000,O00 debenture
bonds OF 1894, IN accordance with The covenant
laiued In the The proceeds tho balance will
be- used in payment OF such portion Of the bonds
November l. 1877 as may not be renewed the retiring
OF the floating debt, about 81. 800, 000 and tho
ruainder will place tho finances Of The company in
position to meet all its requirements until $780,
II the sale OF coal Is suspended at competitive points
This statement was not known upon the street until
Immediately before the close OF business, and
quenty there scarcely any change in the price of
the stock The opening price to-day 49, and an
advance to 4oil Immediately took place. After
fluctuations, during which there fall 10 As, the
stock closed at 45ls. 1t is to DO hoped
that Mr.. Dickson is not too saneune this
time, and that tho balance OF the mortgage may
be sufficient to carry the company through
until 1880, when something may turn up,' 1t was
stated the street to-day that only bondhol
had expressed his willingness TO renew his November
bonds, and alter the action of the company day he
will most likely refuse to do The general ma rkc
although still strong, showed some signs Of weak
ness Western Union fell to 72K after selling
A. 1879, as there was = general belief that to-
morrow's meeting will not BIO productive OF
anything. Railroad shares generally strong
particularly Michigan Central which advanced to 4sss
and closed at Az, ''seller 50 ST. Paul preferred
which has hitherto led the advance guard weak
aud closed at 625 almost the lowest point of the day
A despatch from Washington states that the receipts
from internal revenue have shown perceptibo in.
crease since the cessation of the railroad difficulties
and the indications that the receipts for
August will reach 100000.
SAILS TO DAY.
The sales Of active stocks day aggregated 1o3 $50
,hares which were distributed follows:-Wcstern
Union Telegraph, $780, Adams Express. 200; Pacific
Mall 5000; New York Central 8, 500; Erie, 6OO Lake
Shore, 25.00O Illinois Central. 900; Northwestern,
1900; do preferred, 10 500 New Jersey Central 200;
Rock Island 900; ST. Paul. 1900; do, preferred,
$500; Wabash, o00 Ohio, 700; Lackawanna, IL, 600;
Morris and Essex $500; Hannibal and st. Joseph,
sc0 d. preferred 200; Atlantic and Pacific Telegraph
200; Delaware and Hudson Canal 4Oso; Michigan Con-
trail, IL, 100; Burlington and Quincy, 900.
HIGHEST
The following were the highest and lowest prices Of