The New York herald., 1877-03-17
FINANCIAL AND COMMERCIAL.
The Stock Market Weak and
Lower.
GOLD 1O4 So A 1O4 7-S.
Investment Securities
Steady.
MONEY ON CALL 2 l-2 A 4 PER CENT.
WALL STREET,

l
FRIDAY March 10--6 L. M
II begins TO be apparent-at least far stock
market is concerned--that tho hopes Of revival Of
business with improv ement Of values a sequence
TO the settlement OF the Presidential question: not
10 be realized at present Matters TO be rcapsug
into their old state Of inactivity, and prices are
sloughing away in keeping Most particularly is this
to be noticed the OF the standard Investments
like Burlington and Quincy, Chicago aud Alton and
Rock Island, which, without turmoil and unattended
by tho hurry scurry OF active speculation, have
sevcray lost from per IN the day quotations.
scare, mostly senscess, yet with some basis for ap-
prohensou. appears to have soizod upon the whole
class OF investors who for years have pinned their faith
upon securities which have been esteemed safe
and profitable beyond pcradventurc. The unsuspeced
rottenncss OF New Jersey Central and the false pro-
cnccs OF the other coal stocks In their bid for pub
lie confidence have created state Of tmidity amoug
shareholders which Is daily producing It's natural re-
suit In the shape OF desire TO sell out further
pressure exists 10 tho belief that in many cases the
directors instead OF being the servants OF the stock
holders are In fact their masters, and make use Of
their positons for the purpose of caring for the
legitimate business OF the corporations under their
charge but 10 feather their nests by such stock
j0obng devices and chcanery their information Of
The interior workings OF AFFAIRS will enable thcm TO do
More than prominent security upon the list has lost
the support OF permanent ownership and rests under
ban from the existence OF thus shameful imputalion
The stockholders Of tho great corporations above
named taking fright from appreheLsions that
possibilities OF this nature, either remote,
likely to affect their properties. The appearance
ol Jay Gould prominent factor in the Northwestern
Rock Island corporations has added tho alarm
Lively recolcctions OF former jobs, where ruin fol.
lowed are brought to mind, and "reminiscences, tho
Of a or
himself, daily suggesting themselves. In tact
Gould his role has startled old fashioned steady
going investors would a lively case OF smallpox
bursting into unvaccnutcd asscmblagc and has
Casioned rs lively stampede Direct effects Of this
Objectionable neighborhood apparent to-day
IN the break down Of points Buring-
ton aud Quincy, OF points in Chicago and
Alton and oil points In Rock Island. An extract from
the money article Of the London Times anmadvcrting
upon the loose management Of American railways and
extensively copied and commented upon by the morn
ing press, lent additional strength to tho prevailing
fears. Similar views have more than once been
pressed this column but the voice from the
comes flavor that attend good that
has made its voyage, and is likely to command
equally earnest consideration. The other railroads,
well the coal stocks, we're mparatvely quiet,
transactions being made to small fluctuations, and ut
prices which gradually dropped and left weak aud
leverish market ut the close.
THE SALES TO
The sales to-day aggregated 1883 shares which
we're distributed as folows:-New York Central
4.975; Erie. 3,OO5 Lake Shore, 10000; Wabash,
200; Northwestern, 1900; DO. preferred, 1890;
Rock Island, 5000; Milwaukee aud ST. Paul, 500; do
preferred 4,450; Delaware. Lackawanna and Western
23 $50; New Jersey Central 92o; Delaware and Hudson
Canal $50; Morris and Essex, 1850; Michigan Gen.
trial. 1900; Illinois Central, 100; Union Pncnc 300;
Hannibal and ST. Joseph, 400; do. preferred, 500;
OHIO and Mississippi, 600: Panama, 200; Western
Union, 3s $3.50; Atlantic and Pacific Telegraph 1,s4l
Quicksilver 32O0 do preferred, 100; Chicago Buring
ton and Quincy, $685.
OPENING, HIGHEST AND LOWEST