The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-03
FINANCIAL and COMMERCIAL.
The Stock Market Less Ac-
tive and Weaker.
GOLD 100 70 A 10Y.
Government Stocks Higher and Firm and
Railroad Bonds Higher.
Money on Call Easy at 2 a
2 i-E Per Cent.
GOLD 100 70 A 10Y.
WALL STREET,


Tho roaring on the Stock Exchange to-day more
after the manner Of s'suckng doves'' than OF bulls
OF Bashan, both for the that things had
Quoted down considerably and because bulls have
little left In TRUTH the colors Of the bear
party trailing In the dust; the red flag Of short
sales longer faunts In the face OF the bulls and
taurus lacks an irritant. The tact has been mani
fcsted yesterday and to-day, by the prevalence Of an
Irregular and fevcrish market and in the difficulty
OF finding buyers without lesscning prices. Although
there is appartion Of public las in moderate
purchases for investment) is OF diaphanous and
ghos,ly character. and will require considerable
materiaiz,pg before II make nm i'm
preston upon tho market Until such time
tho old condition OF things Is likely to
exist. With the elimination OF the short element
departs the ready customer. II Is condition OF mo
song supper" paraphrased by no bear no buyer
Out OF this situation proceeded to-day an irregular
market. the ups and downs Of which were frequent
and rapid, may be found recorded IN the list Of
prices In the afternoon The OF depression
quite marked, prices being OF from "a 10 per cent,
but just before the closing firmer feeling sct IN,
which stcadied figures to moderate degree. 1t IL
whispered day that the show window" bears
the lnsinuston that they have apsed from their prs
tine faith In lower prices They have almost been per-
suadcd to become bulls but have halted on the way to
conversion tho point Of covering shorts. Only
OF their number has turned apostate and got long or
the Market and his disguised consres. like Othoo,
are tempted TO exclam, "Never moro be
officer OF mine.n Nevertheless, tho market has
scored significant improvement the prices of
week ago. and 1t is the cards that tho coming
may show better yet The Lake Shore Railroad CON-
pany publishes volumnous ana exhaustive report,
which not only treats Of their business for the fiscal
year Of 1876 but presents comparative statements in
N,,l1n
which likely TO be OF public interest During
the year bonded debt has been decreased $780,
which is the annual contribution to the sinking fund
of per the first general consolidated mort
gage OF $50, O00 000 As compared with 1875 the
ings for 1915 show decrease Of $4S5 022 SO per
cont, while for the same period there Is decrease In
operating expenses OF 1866 $685. 0S per cent and
increase earnings of SAIL 6f3 II 90 per cent
The year 1876 was for the heaviest tonnage
the lowest rate, the history OF tho road, beng
90. 2 per cent greater than the previous year. but
smaller In receipts by S233,409. With the exception
OF 1875 tho greatest number OF passengers were
moved, for the least amount Of earnings, since the
consolidation OF seven years ago. Notwithstanding
heavy increase Of tonnage in 1876 the operating
expenses show decrease compared with 1870, Of
1885, Cog, or per cent This saving effected
by the lower prices for labor and material Especially
Tor steel ras and by keeping up the property, which
is affirmed to be excellent condition. The report
reces the story of the railroad which familiar to
everybody excuses its Of action in this respect
and closes with glance at the encouraging eatures
OF the current year. These are few OF the salient
features but the pamphlet Is worth studying detail
by persons interested in the property.
THE SALES TODAY
The sales Of active stocks to-day aggregated 100
shares w6ich were distributed as follows:-Ncw York
Central s,273; Eric, 1907 Lake Shore, A, 700; Wa
BASH 1907 Northwestern 1000; do. preferred $500;
Rock Island, is, 500; Milwaukee and St Paul. $50;
do preferred, 1900; Pttsburg. ESQ., Delaware, Lacka-
wanna aud Western 81 s45 New Jersey Central, 3o5
Delaware and Hudson Canal 5000; Morris and Essex,
3,17S; Michigan Central, 4,oos; Illinois Central, ESQ;
Union Pacific, 500; Hannibal and st. Joseph, 100;
do. preferred, 100; Panama, $40; western Union,
40, $780, Pacific Mail, $3.50.
OPENING HIGHEST AND LOWEST.
Tho folowin No table shows the opening, highest and