The New York herald., 1877-01-10
FINANCIAL AND COMMERCIAL.
The Stock Market Irregular, with Prices Clos
ing OFF from the Best of the Day.
GOLD JOG is A l05 3-4 a log IA.
Money on Call Z and Per Cent Governments
Active and Railway Mortgages Steady.
NALL STREET,

~, 7.
Shakespeare asserts 'the evil that men do lives
after them, and Stock Exchange bulls scrutInizng
the terms of Mr. vanderb,t's will, prone agree
with the poet and regard the deceased railway mag.
natc as having done them u personal injury. For q
long time back It has been reported and accepted
law and gospel by the street that the Com
modore's shares OF Central and Hudson were
10 be tied up at his death IN a
sort OF Gordan knot, which the most
dexterous broker would fail to unoose and no sacr
Hcal kne OF panic would be sharp enough to sever
They TO be the Keystone to the market upon which
the most tmid specuator could safely place his
gin and to which no permanent harm could como so
long as grass should grow and water run. 1t now
turns out however that tho has been bequeahed
without any restriction whatever, and the heirs are
free to sell or give away the shares, to make
ducks brakes Of the property II they should feel
ornithologcally inclined.
This reasoning is damaging to the reputation for
stability Of the great Vanderbilt property, and extends
even in greater degree to Lake Shore in fact it has
been specially shown Tor the last days Ia the lat
ter Stock which has dropped and declined without
other obvious than that the faithful pilot who
steered 1t safely through so many rocks and quick
sands has been removed from the tiller while the
bark itself is LETT to tho manipuations OF any scratch
crew that may come in possession. Tho effect has
To-day attcsts Tho effect Central and Hudson will
be developed in the FUTURE but scarcely be other
than adverse TO tho stability of its market value.
The midday strength of the market failed the day
grew older by reason the decline in Lake Shore and
the threatening aspect OF political matters in New
Orleans II the country were not in state OF icvcrsh
timidiy, which imagines danger in each political
movement US 'the thief doth lear each bush an officer" :"
little would be taken OF matter which has
grown out OF contest for political supremacy and s
any rate, purely local in its character. AS it s the
battle will probably be fought in the courts and tho
serenity OF the Stock Exchange restored to its normal
condition.
Western Union drew ahead OF the list in the days
dealings, nearly rs, 900 shares having changed hands
yet despite the str, nuous exertions OF the bulls, who
bore the heat aud burden OF prolonged effort, only
IS per cent gained on opening prices. and this
was entirely lost before the close.
Quite a pretty scare was inaugurated among the
bears In ILLINOIS Central, who as usual thing pass
an uneasy existeucc IL timorous expectancy OF twist
for the price mounted from 00a to 65 but subse-
quently cas- ed down to and closed ut 63sa
The coal stocks renamed dull and neglected. despite
The talk OF IA combination. with It's results OF bet
ter prices and deferred bankruptcy.
Even should a rcpatchng OF the old monopoly be
brought about be borne mind that for steam
purposes the coal of the btuminOus mines must come
largely the case OF man uiactorcs and
wise steamers which are now using the anthracite
Article chiefly on account of ITS cheapncss.
Tho New Orleans imbroglio had sensible effect upon
the gold premium, which advanced to 1861 as
against 1868 earlier in the day, the latter being
the loves. rate since 1852
The sales to-day n loows:-New York Central
and Hudson, 1865; Erie 500; Lake Shore, 90 20o
Northwestern, 800; dc. preferred. 100; Rock Island
GOO; ST. Paul 100; do preferred 800; Ohios, 700
Western Union, 27, 400; Delaware, Lackawanna and
Western, 9,iO0; New Jersey Central, l.S0O; Illinois
Central, $500
OPENING, HIGHEST AND LOWEST
The following table shows the opening, highest and