The New York herald., 1877-07-22
FINANCIAL and COMMERCIAL.
The Stock Market Opens Heavy
and Closes Firm.
GOLD STEADY AT l05 3-8.
Government Bonds Active and Lower
Railroad Bonds Firm.
MONEY on CALL EASY At I l-2 4 2 PR CENT.
WALL STREET,

SATURDAY, July 2t--6 p NJ
Prices were lower during the 6rst halt hour; all
higher at noon, with winding up at the end at point
midway between the two extrcmea II Is evident that
The parties controlling the market have got well In
hand, for the constantly arriving reports concerning
ihs railway malcontents ana the spread Of the strike
were not allowed to act unfavorabiy on quotations,
which wore, in FACT siren ngthensd In spite OF them.
However. the amount of business OF the most re-
tail description falling of TO 1000 shares, and
such the handiwork OF small professional operators
only the great ones being either aoat in their yachts
or backing the flyers al Saratoga The general strength
Of the market may be- taxcn as proof OF how thor
pughly the short interest has been eliminated. On
other OCCASIONS when tho bears been In full fg
and when for decline have not been tthe
important exist in the sriio between capital
and labor, values would havo slipped away like
avaianohe mountain sido. just now, the wealthy
bears having gone over to tho bull side with bag and
baggagewhich includes 1rst class credit fat bank
Accounts- becomes the proper thing TO pooh-pooh
utterly unimportant a matter which, under reverse
state OF things, would have been worked up into
serious disaster We gather from this that thero does
exist a difference between tweedie-dum and tweede.
dec and that the question as to whose OK has been
gored quite as vital one In financial circles as IL
In the bucoc shades referred to In the fable. Trans
actions this morning principally conanod to Now
York Central, Michigan Central Lake Shore aud Della
ware and Lackawanna, all of which at the close
showed Improvement opening prices,
though they shade of in nnal sales.
worry decided reversal Of the condition OF the banks
exhibited in the weekly statement was the object of
considerable comment decrease Is shown Of
ST. 600 In specie Of $780, 900 in legal tenders and
oil So 000 600 deposits, while the surplus
Is diminished by $3,6Oo,o00 The decrease In
coin Is tho floating Of the per cent loan, aud
Is likely 10 right itself shortly but tho loss In legal
tenders would seem TO point to earlier rise than
usual of money for crop purposes and higher rates or
tanned by more than one shrewd speculator / evil
denced by tho fact that time loans covering the next
four months have been made in several instances.
While 1t not probable that anything OF 'squeeze''
is likely to 0e than temporary Il Is gratifying
70 believe that use DO had for capital which
r return better ra4p than tho long existing one Of
~ TO per cont per annum
rHE sALxs TO-DAY.
The transactions at the Stock Exchange aggregate
u. 2l5 shares:-New York Central, 1850; Erie, 800;
Lake Shore, 16. 500; Wabash, 1.l00; Northwestern,
300; do. preferred, $500; Rock Island, 5000; Fort
Wayne, 100; Milwaukee aud St Paul, 2,500 do pre-
ferred, $3.50; Pttsburg, 600; Delaware Lackawanna
and Western, 6.eoo; New Jersey Central 900; Della
ware and Hudson Canal, 1s00; Morris and Essex TOO
Michigan Central, lOs5o illinois Central, 1900; Han
nibal and st. Joseph preferred, 1907 Western Union
2,700; Pacific Mail, 200
OPENING, HIGHEST AND LOWEST.