The New York herald., 1877-07-12
The Stock Market Active
and Irregular.
GOLD STEADY AT los 3-S.
Government Stocks Firm
Railroads Higher.
HONEY ON CALL EASY At / 10 A 2 PER CENT.
WALL STREET,

I
WEDNESDAY, July l1-6P VI.
There some falling OF in the amount OF business
To-day aud vercbral weakness in the general spccu
lation Not that prices gave way much but thnt tho
bull party wore Inclined TO resort to gentle PITY alism,
80 far AS their grip was concerned, probably tor the
purpose OF getting fresh hold on the market. Any
settpg up, however, unless 1t be for tho purpose OF
scoepng fresh school Of shorts, is hazardous bust
ncss for the present advance Is as false as Paais
Royal diamond and has no more rea' solidlty than
omclctte souiaee, that may be blown away with
breath Moreover, there is point of intimidation at
which bears forced TO knuckie uudcr and this be-
ing reached. the end is certain; simply be-
the only purchasing power the market
comes from the bears, and this being exhausted
the machine stops 1t stops, too, mach more quickly
hhn II did in times back, when brokers' bank
were better able 10 stand the racket. Both hardly
bs c'ht experience and Tho augusta domi compel
sh shrit, IL not morry one, to spectators who
have got upon the money side OF the account From
appearances II would tho bull party can DO
longer get much from tho BEARS but must
rely upon themselves 10 keep tho ball rolling This
they may do under tho present chcapness of money by
holding tho market and waiting Tor something to
up favorable in the autumn What this something is
10 be much unknown quantity as the ulgepraic
e, but it may be resolved satisfactorily by bountul
harvest. European general revival OF busi-
For the day proper thore changes Of
note beyond the fact that the bull support less
vigorous and that prices permitted to
reach lover figures his partially grew out
OF the report that some cutting OF rates was bciug
made by Western railroads and that the Delaware and
Hudson Company were thinking OF following the ex
lmpo OF their sislor company by Offering $l0 000 900
mortgage Curiously the stock grew weak on the
rumor, who n similar tho Delaware and Laok-
awanna stock grew strong. Hero is evidently q case
where financial doctors disngrec, though in both
,ticnts the should be clearly for marasmus
.lly. In final dealings stocks ieverish aud lower
with tho exception OF Western Union, which 81
bid at the close. Prudent capitalists, who regards
the general industries OF the country, ''iain would
climo but that thoy fear fall expressing their
lmidity by investing tho per cent loan. II Is re-
ported that subscriptions to-day have heavy and
that the amount called for exceeds $lo,ooo.ooo.
sALEs TO-DAY.
The sales of active stocks to-day gated 163 1856
sharcs which werc distributed as ollows:-New ork
Central, 1860; Erie, 1,100; Lake Shore, so, 800;
Wabash 800; Northwestern, l goo; do. preferred,
$500; Rock Island, 2610; Fort Wayne, 200; Miwau-
kce and 81. Paul, l300 do. preferred, 5000; Pitts
ourg, 1900; Delaware Lackuwanna and Western.
3d. 1907 New Jersey Central 300; Delaware and Hud-
son Canal, 7l60 Morris Essex, &, 500; Michigan
Central, $500; illinois Central 1,o45; Hannibal
ST. Joseph preferred 900; OHIO aud Mississippi l. 700;
Western Uniop 81, 300; Atlantic and Pacific Telegraph
100; Pacific Mail, 1900
HIGHEST
The following the hghes, and lowest prices Of