The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-15
FINANCIAL and COMMERCIAL.
The Stock Market Active
and Irregular.
GOLD 1O6 10 A 1O6 ga.
Money on Call 3 a 2 1-2 Per
Cent.
THE BANK STATEMENT.
Government Bonds Steady and Railroads
Irregular.
WALL STREET.

i,
The vigorous bounce to prices which yesterdays
market closed with lost most Of It's force during the
first hour Of business today, and with the exception
OF ricochet or wo finished up ut three O'Clock very
much alter the condition OF a spent ball Twice within
the last ten days the bears have 10 the OF
market which threatened panic Experience has
demonstrated that condition OF smash benefits
nobody and that bears likely to be quito great
sufferers as bulls. house taken down brick by brick
offers certain value in the shape OF material-t Is
nearly worthless II blown up by gunpowder Regard
ing tho fabric OF speculation in this light the bear
party eschews explosions as at oncc prontess and
dangerous and wisely prefers to let things down
easily. To do this the shorts have not only been
compelled 10 cover their contracts. but to get
the long side before confidence was restored
and the course OF prices turned in an upward
direction Appearances To-Day that the bears have
only been qucrading under the guse OF horns aud
hde that they still desructivcy inclined, and that
their chief desire Is to resume their normal shape
with this purpose in view there was strong inclina-
ton manifested to place much long stock as the
market would take without breaking and the effort
would probably have met with fair success had 1t not
been for the continued weakness in Rock Island I'm.
fortunately the spirit which shapes the ends OF spccu
ation Is demon Of doubt and is not to be exercised
by the reports Of investigating committees nor the Of
ferng OF rewards and consequently, neither the rail.
road nor the coal stocks recovered sufficient strength
TO withstand any considerable offerings Of shares Be-
yond its own innate feebeness Rock Island received
setback in the comparative failure OF the attempt ID
place the Issue Of six por cent
bonds OF tho $s,oOo,ooo offered only sl,SOO,ooc
was subscribed for, at from 100 10 los.
Scarcely anything better could be expected under cir
cumslanccs which have tainted the property with the
plague spot Gouldsm, and thereby dscredited its
value in tho eyes of capitalists The coal stocks failed
the firm prices Of tho morning, and fell back
to yesterdays figures under light business. We
understand that tho matter OF the bogus
corning the Delaware and Hudson Company will re-
ccive examination by tho Grand Jury on Monday, aud
that a number OF Stock Exchange brokers have been
summoned to give evidence. POLITICALLY, truth is pic
tured as abiding at the bottom Of well, but wo doubt
If the Grand Jury will draw anything but empty
buckets from within tho precincts Of the Stock
Exchange Tho greatest business of the day was done
In Western Union, at figures which gradually dropped
from 5Sx to $685., closed but at u better The Al.
antic and Pacific Company Is still the raw head and
bloody bones which frightens buyers away, al.
though Gould is thought by many to have quietly
interest the long side OF the account
Tho railways dropped with the rest OF the Market al.
though the foreign Is threatening enough to
give them tho upward start which II was expected 70
do So far it has affected gold TO the extent OF per
cent to-day the prices OF produce the latter being
dealt in 10 greatly increased degree ut advancing
figures Possibly after a reduction TO order OF tho
chaotic state which has existed 10 tho Stock Exchange
during the week tho expected influence may have
chance to work It's legitimate effect
THE SALES TODAY
Tho sales OF active to-day aggregated 1870
shares which were distributed as foows:-New York
Central, $780, Erie, soo Lake Shore, %, 100; North.
western, 2,76o; do, preferred 1.2oo Rock Island,
81 $50; Milwaukee and St. Paul. 900; do, preferred.
s4oo; Delaware, Lackawanna and Western. 1o.47o Now
| Jersey Central, 1875; Delaware and Hudson Canal,
g. FOG; Morris and Essex, AGO. Michigan Central, 6,750
Illinois Central, 1850; Union Pacific, l25; Hannibal
and St. Joseph preferred, 200; Ohio and Mississippi
400: Panama, 100; Western Union, 65, 1882; Pacific
Mail, 3.400
/ OPENING HIGHEST AND LOWEST.
Tho following table shows tho opening highest ane