The New York herald., 1877-10-11
The Stock Market Active
and Lower.
GOLD 1O2 ga A 1O2 rs.
Government Bonds Firm, States Neglected and
Railroads Irregular.
Money on Call Active at 9 Z
Per Cent.
WALL STREET,

WEDNESDAY Oct 10-6 PM
In the matter Of a variation in prices the STOCK mar
kes Is beginning to roll about Ike bscamed vessei
In tho trough OF the sea- ana operators are nnu'
ing Il dcult keep their legs on IL is an even
question whether the next urch Is to DO upward or
downward-L g., toward higher or lower prices-anu
small spectators especially bothered how 10 keep
their balance particularly In bank account point OF
vicw. Early transactions made to strong Market
and there was every sign that tho bulls horns, whicn
were in velvet last night would sprout forth into Tor
midable dimensions to-day Before noon II became
quite clear that any such antcpations were deusVe
for prices gave way and with tho exception
OF occasional struggles toward recovery, tended
10 the lowest 1gures, which were made
near the close. With the exception OF the rates Tor
call loans money, which were mostly made at seven
per cent but eventually foil OF to three per cent ut
the ose when bank balances were generally made
up the outside "tak' against the bull movement
This was OF particularly to affect the trunk
lines and Lake Shore and Central and Hudson sui
fsred accordingly. There appeared to be no good
reason why they should suffer, except that the re-
port in the very questionable shape" that the
Grand Trunk OF Canada had refused to enter into the
agreement lately made for an increase In Eastern
bound ire,ghta II is quite possible that the Grand
Trunk may be arbter in this matter ol freight
charges, and II is equally possible that II may
sufficient to weaken prices and to give the bears
rhance to howl down quotations Less activity was
manifested in the granger securities, which were moro
inclined to drift with the of the market than to
Arike out for themselves this, too, in spite or tho
good showing made by the st. Paul concern OF
BIOL 900 increase the week over the samo perou
last year. The perennial 'nigscr" IN the western
Union fence, which discovered on broad grin
this morning when the stock touched s3', was forced
10 laugh on tho wrong side OF his mouth when the
price fell 81 sanguine expectants Of division OF
stock the meeting to-day found the result 10 be pro-
l6c OF wry faces also. II is understood that
tho question OF such division OF shares
was not even proposed at the meeting and
that moreover Mr. Goulds proxies voted for the
regular ticket '.Sc rans' the hopes OF sucn spocu
iators rise who had purchased upon those contn-
gencies and passed away the ophemera spurt which
had carried the price up TO tho prices Recorded eoa
stocks sold down from two to three per cent. Iho
circular OF the Pennsylvania Company lowering rates
tor the product was not apparently appreciated
(although we'll known yesterday until this morning
Its probable disastrous effect upon the business OF the
companies and in consequences, upou the price OF the
stock curly realized and decline occurred as
matter Of course. Within the last few days tho
somewhat "darkn security known as Quick
silver preferred, which for long umo
back has been unable TO obtain first
class engagement on the stock Exchange, has been
set up as a OF side show and attracted considera
Bile attention The price yesterday was run up to u,
but to day lost ten points from these figures Some
legal decisions which supposed TO be in favor Of
the preferred discovered, IL is sad to be
less favorable examination than was thought Tor.
and the disappointment ia reflected ia the declining
quotations Were the latest figures OF tho general
market governed by the verdct Of Chatham street the
ho ,I..I. nn,,r
liar TO a rag fair rough edged were opinions and
prices How they VII shape tomorrow open
question which bulls and bears must sleep tonight.
oPENISG HIGHEST LOWEST.
The following table shows the opening highest and
lowest prices OF the day:-