The New York herald., 1877-01-11
FINANCIAL AND COMMERCIAL.
The Stock Market Alternately Weak and FiIm---A
Reaction from the Lowest Prices
: GOLD LOG A 1o6 1-S.
Money on Call z. 8 and 5 Per Cent-Government
and Railway Bonds Steady.
WALL STREET,


Dealings in to-day's market were boiled down to
concentration OF Lake Shore, Western Union and
Michigan Central while the rest OF the list smmered
like scum that unworthy the attention of any.
body
The pot kept boiling with good deal Of vgor in
these three for the most of the day though
the ebultion slackened OF about noon, only be
newed again toward the time OF closing.
The idea previously suggested that Lake Shore would
60 into mourning tor the Commodore's death seems
be shaping itself INTO fact, judging by the depression
which hung over the stock this morning aud the
'tears IN the voice. OF the deludcd holders who
busy selling shares 54 which they iondly hoped
TO distribute at twenty points higher
Nevertheless at the end OF business a reaction set
in under some lively buying to cover shorts and the
price rallied back to opening figures and firmly closed
there. Michigan Central was simply noticeable for its
steadiness and sturdy refusal to sympahize with its
lugubrious side partner. In fact the Fidus Achates
connection seems to be discovered now that Lake
Shore has grown in dsfavor and that Michigan Gen.
tral is showing amendment the reduction OF its
floating debt and a generally more thrifty manage
ment.
or the three actives Western Union proved to be
the top sawyer in the days business Over 33, 900
shares changed hands at prices which slowly. but
surely advanced from 727s to 73ss. The inevitable In
separabe mysery s hangs about this fancy like the
scent Of the roses round the vase in Tom Moores
ballad for, though shares greedly acquired few
buyers could assign better basis for their
than that something going ''inside the
pany,' us though the corporation were human being
whose vitas and viscer rcganing healthful
after spell Of Illness Although not specially active,
the greatest advance of the session occurred in Illinois
Central, which futtered up from 62A to Ca with a
final recession to 63t.
1t the old story Of scared shorts with small
margins. who, having rushed into gunpowdcr maga-
Ene where richer and prudent operators have
feared tread precpitatey attempt to rush again
on the first symptoms OF an explosion.
Ohos and Missssipps were almost completely neg
lected, although favorable reports continue to be
made Of the business OF tho road and hints thrown
Of projected alliance with the great Baltimore
md Ohio cor poration.
At one time the St Paul shares showed considerable
weakness under the report of further dmlnution of
earnings These statements likely to come worse
than better compar isons will be made between the
undoubtedly slim business OF tho coming spring and
the very large earnings from grain transport
the spending OF last year.
The rcport of the probable Interference Of United
States troops in matters at New Orleans, which came
IN just at gong sound, stiiened gold up 1861 but
late Affect the share market even If it were
likely to DO
SALES TODAY
The transactions at the Stock Exchange to-day az.
gregated LOG, 100 shrcs:New York Central and Hud-
son. $50; Eric, 500; Lake Shore, 81 600; Northwest
ern, 200; do preferred, 200 Rock Island 700: Pacific
Mail, 100; ST. Paul, 2,l0O; do preferred, IL 200;
Ohios $50; Western Union, 3s 45o; Delaware Lacka-
wanna and estern 3, ,440; New Jersey Central 1,450;
Michigan Central, 9,495; Illinois Central, 2, 800.
urr.NING, HIGHEST and LOWEST PRICES
The following table shows tie opening, highest and
lowest % pr.Ces of Tho day