The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-01-28
FINANCIAL and COMMERCIAL.
An Active Stock Marker Tho Bears Rampan'
and Bulls ExSpcrated-A Ger
erh Decline.
GOLD QUIET At lO6lS A 1906 IA A 1o6 Is
Government Bonds Firm-Money on Call >,
a and Per Cent-Railway Mort
cages Steady.
WALL srREEr,l(

SATURDAY Jan 27-6 r. n.
rv.rvtb,nc was turned topsy-turvy to-day, and the
market which has been in state Of wooo'e" ior 'ne
two or three past days. lost It's balance ana expe'
rienced serious fall The Election bill ana the cneer
ing prospects which II holds out nao na'u'a's R''en
rise 10 general bulish feeling, which the large
tors improved by givinga vigorous upward push 10
.D..,,a,,ou attracting thereby numerous following
for ,he long account and at the same time forcing
shorts to close their contracts. Unfortunately oul's
aro short winded in these days, aud wnen tnev una
themselves in tho clover OF ungahered pronts are as
eager TO realize them their cornuted namesakcs Of
the fields TO crop the succulent treioil
A lops,ded market having been thus created, with
never a speculator- giant or pygmy-but tnat iouna
himself full to the chin OF shares, ana WIN no
outsiders taking u deeper interest than was to be
obtained from gallery view, tho chance oil nnoaoins
without breaking prices was slim indeed The occa-
SION was rendered still moro unfavorablo by tho weakly
condition OF tho coal fancies which were staggering
about on their own hook, without reference 10 the
movements OF the great railroad speciates th's was
espccialIy true of New Jersey Central which turned
ont 10 be the real sensation of the day. as proved
by preciptate drop from 32ss to 2SA ana CLOSING
rally to 29k. To the old story OF financial emoarrass'
ment now become chronic by repeated iteration, werc
added new ones the effect that tho President OF tho
road having made a careful ante.mortcm examination
fatal had applied for additional aid to GER
tain financial practitioners OF this city, put without
avail
In fact II is said the of receiver (who acts
as sort of pre-mortuary undertaken IN the case
OF moribund corporations) were limited at as being
most likely to be needed aud most appropriate
under the OF the case Further, It was
known that free sales of long stock were being made
ON Philadelphia orders, and vague aud probably base
nA4.e that in
which had dealings with this and the olhcr coai COM
panes were embarrassed thereby.
Nor did the bears the occasion to pass without
adding their destructive mite, and this was effected
by hammering the price OF Lsnigh and Wilkesbarre
bonds which guaranteed by the Central road
There being no buyers hand, the price was easily
driven from 81 to SEX, though 1t hnallyrecovcred
| TO S.
The rally Of per cent was owing to tho secur-
ing OF profits by bears who had sold short - " IN the
day-a procedure by the way, which obtained for tho
| whole market
Delaware and Lackawanna fell Off from 72jl to 7O5,
| and returned to TN, through sympathy with Its
| companion aud the rest OF the list
In Lake Shore and Western Union the California aud
Morgan parties lively sellers at declining prices,
tho latter commencing the entertainment by throwing
| overheard lot OF 5000 shares OF the first named
STOCK which had been acquired the previous evening
under circumstances not entirely unknown TO the an
quentcrs Of The Fifth Avenue Hotel.
The net result was loss OF nearly points to
Lake Shore ana OF IL to Western Union, the decline
in the latter being checked in the last hour through tho
medium Of purchases by the nrm who were heavy
| buyers few days ago.
The remainder Of the list swung along with the
prominent favortos, and with thom closed at slight
Improvement on lowest figures.
THE SALES TO-DAY.
The transactions at the Stock Exchange to-day
aggregated 2o9, 900 shares:-New York Central and
Hudson LOGO; Erie, 1e0O Lake Shore, 633Oo; North
western, 100; Northwestern preferred, 1.4oo; Rock
Island. 474O; Pacific Mail, $500; ST. Paul. 1880; St.
Paul preferred, 1920; ohos, 4oo Western Union,
4e,s5o; Wabash 200; Delaware, Lackawanna and
Western, % 3oo Now Jersey Central % $685. Michigan
Central II, 800; Delaware and Hudson Canal 1900
OPENING, HIGHEST AND LOWEST PRICES.
The following table shows the Opening, highest anz