The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-23
The Stock Market Active
and Variable.
GOLD 1o4 S-4 A 1o4 1-2.
Government Bonds Weak-States Dull
Il and Railroads Irregular.
Money on Call 8 1-e
Per Cent.
WALL STREET,

1
wEpysspAY. August 22-6 P. M.
As Is done with railway trains the leaders Of the
market acting switch tenders, were disposed this
morning to shut OF speculation from Western Union
to Lake Shore. In fact, the anaisamation movement
which has been used TO jack-screw the former fancy
up some twenty points has about reached the limit of
its power, and is difficult TO extort extra twist
out OF the machine The union OF the two telegraph
companies has been attended by all the ebution
occurs in the combination Of old-fashioned seida
powders, and the naturalization OF competition haa
left matters as 1at AZ the chemical mixture with the
Gzz off. Whether tho buyers Of the stock at advanced
prices are to be proportionatcly pnysickcd de-
ponds rather upon the ability Of the joint
show increased receipts than upon any speculative
hoist OF the market price. II Is pretty certain, how
ever, Shat the public at large will got taste Of the
medicine In the shape OF higher rates for messages
though it is semi Jlcally stated that the advance
will not be onerous one In fact, 1t would be the
of policies for the telegraph companies devise
any tariff that would act prohbitory The telegraph
has become OF the necessities Of the age. and It
would be dangerous for any monopoly to attempt to
block such facilities are provided by ample
vice at reasonable rates. II Is not probable that the
new combination has any such intention, and though
tho tariff be increased to distant points Qhe prices
which coniessedy low) II IS obviously the
policy Of the companies to invite business by
able charges, to such offices as have capacity
for a greatly extended without addition 10
the expense account. Az noted above this mornings
speculation centred upon Lake Shore, present
profits having been pretty we'll squeezed out Of West
crn Union though the price held firmly during the
day, and, in fact advanced from 79X It the opening
to SIX az the close Lake Shore however, was
deniabIy tho prnceps arimus Of the days specula-
tion and was SO proven be not only BY its sharp
advance from 5sS at the opening to e2A bid after
Board hour but by the enormous business which az.
gregated upward of 90 600 shares So prodieious o
smoke could only Detoken lively blaze somewhere,
and stock jobbers constituting themselves into IRE
commissioners Tor the nonce, quickly terreted out Mr.
W. II. Vanderbilt as the FIRE bug who had lighted up
the conAagration The old slumbering embers which
had had Tor their back log the leasing Of the Lake
Shore road to Central and Hudson were again blown
into life Mr. Vanderbilt is credited with working
the bellows through large purchases OF stock. and
an agreement to lease the former road at
an annual rental OF six per cent upon
the stock 10 stated to be the result to be at
taned Certainly matters suggested to-day the pres
ence OF motive more powerful than any due to nero
manipulation and the disposed to regard
in that light How Central and HUDSON stockholders
with general history OF leased roads before their
eyes, and the tact that agreement OF this nature
must necessarily become fixed charge upon the COM
pany be met, through good report and evil report
and before dividends can be nngored-are to regard
the arrangement matter for their own considera-
ton. The Impulse given Lake Shore by the above
story was heightened by the advance OF cents per
bushe on wheat in Chicago Michigan Central, the
Granger and Western roads generally experimental
strengthening effect OF the news, and stockholders
felt that the staff of life had become equally support
to their rickety shareA In the afternoon attempt
to realize profits occasoned sharp decline, but was
speedily recovered from by extensive orders TO buy
Lake Shore and prices closed strong and far from
the best OF the day
i.HU. SALES TO-DAY.
The sales of active stocks at The Board to-day aggre
gated $50 800 shares, which distributed fol.
ows:--New York Central, 10, 7so; Erle 1900; Lake
Shore $3.50; Wabash, 200; Northwestern, 4,250l
Northwestern preferred, 1925; Rock Island $1,000
Milwaukee and st. Paul. 25lo Milwaukee anu st. PAU
preferred L407; Delaware, Lacgawanna and Western,
% $50; New Jersey Central 1886; Delaware and Hud
son Canal $780, Morris and Essex, 1000; Michigan
Central Ii, COZ; Illinois Central 1000; Union Pacific,
2,o50 C. c. and Ind Central, 600; Hannibal and St
Joseph COO; Hannibal and ST. Joseph preferred $50;
ONO and Mississippi, 1850; Panama, $50; Western
Union % 1884, Atlantic and Pacific Telegraph, 1889;
Pacific Mail, 2,40o; Quicksilver, 3Oo Quicksilver pre-
ferred, quo.
OPENING, HIGHEST LOWEST.