The New York herald., 1877-03-04
The Stock Market Inactive, with a De-
cline in Prices.
GOLD 1o4 5-s A 1O4 3-4.
Government Bonds lrOng-Railroads lrrrsu-
lar, but Closing Firm.
THE BANK STATEMEN Mt.
Money on Call Easy at 2 a 3
Per Cent.
WALL STREET,

WALL STREET, I
SATURDAY, March 5--6P II.
The boy of thirty years ago. taught then that II was
"bettcr be right ,han be President" but since
grown to man and brokers estate still sticks TO tho
teaching, OF his ch dhood--in somewhat a restrictive
manner however, and IN way refcrable particularly
10 stock--insomach that the average broker blind TO
the teachings OF his youthful days and needless OF
tho aphorsn above quoted, would to-day rather be
right upon tho stock market than be President ana
the King OF the CannJal Islands combined Just now
il seems rather difficult assume the desired position
OF rcclitude Tor the market condition OF "lop,"
where hcads win tails You lose" dcsignates the bet
ting and in which, according TO Cowpcr IA tool must
now and then DO right by chance" SO there has been
u good deal OF guess work about tho market to-day.
Yesterday strength dzzcd out like tho Widow Cliquot
badly corkcd before tho morning was halt through,
and though prices did rccede very materially tho
exhibit at the end OF the day was not satisfactory 70
the bull interest. Almost the only incident OF the day
which likely to affect stock matters was exhibited
In tauererscment in the direction OF tho Chicago and
Northwestern and Rock Island roads. II is stated
that Mcssrs Tracy, Tows and Marvin have resigned
the arst equal number OF directors from the
second, and that Jay Gould, Sidney Dillon and oi'vcr
Ames have been appointed tho vacancies As part
of the programme David Dows, II. H. Porter and W.
L. Scott present directors OF tho Rock Island road,
will enter into the Union Pacific direction. AS mapped
out tho intention clearly points TO alliance between
the three above named, by which direct line to
Chicago will be established and It is furthermore inti-
mated that controlling Influence through intermediate
will be established 10 tho terminus OF tho
Erie Railway thence by this line to New York
CITY, This scheme camo in direct antagonsm with
Michigan Central, Lake Shore and Central and Hudson,
and 1t is probable being thus vicwed the prices OF
these stocks rocoded to-day.
Furthermore is stated part OF the plan that tho
western Union Company will be required TO pack up
poles and wires and quit tho premises Of tho above
road tho Atlantic and Pacific line having acquired,
through MIR. Gould, such right and title as was pos
scsscd by the old company The immediate effect OF
tho above however to break the prco
OF Rock Island, Mr.. Gould. as director proving any
thing bu. sweet smelling in the nostrs Of
holders. Burlington and Quincy fell from 1o6 TO 1o4
for fear OF tho opposition and the rest OF the market
was comparatively weak from the mixed and uncertain
state OF things
THE SALES TO-DAY.
Tho transactions to-day aggregated 17s,1oo shares
which wero distributed as follows:-New York Central
$685. Erie, 100; do. preferred, 10O Lake Shore,
25 45O; Wabash. 26s; Northwestern, 1000; do pre-
fcrrcd, $500; Rock Island, 200; Milwaukee and ST.
Paul. 20O do. preferred, 175o; Delaware, Lackawnnna
and Western, 1920; New Jersey Central, 4,53O;
Delaware and Hudson Canal $3.50; Morris and Essex,
470; Michigan Central, 1860; Union Pacific, 1,4o0;
c., G. and l. c., 100; Hannibal and st. Joseph, 200;
Ohio and Mississippi, ], 100; Panama, 500; Western
Union, S6,475; Atlantic and Pacific Telegraph, 956;
| Pacific Mail, $3.50.
| OPENING HIGHEST AND LOWEST.
The following table shows the opening highest and