The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-04
FINANCIAL. and COMMERCIAL.
An Active Stock Market, with a
Further Decline.
Panama Forty Per Cent Lower-A Break
in Pacific Mail.
GOLD 1O4 rs A 104 ga.
Government Bonds Lower and
Railroads Irregular.
MONEY 8 ASA 5 PER CENT ON CALL.
WALL STREET,

WALL STREET, I
TUESDAY, April Sc r. NJ.
As onchanters In tho olden time sometimes
frightened into Ats by tho spcctrcs OF their
tion SO were the bears In the stock market alarmed
by the ugly look which their manipulations had i'm
parted to prices IL began TO look at ono time yester
day though, upon little stronger provocaon, the
decline might run into panic state of things which
is quite unsatisfactory the bears 1t is to The
bulls, and which tho former party quito eager
to check the latter To-day the same sentiment
prevailed in the morning hours, and the chief spccula
tves were held with considerable 1rmness. This was
particularly the with Michigan Central, which
kept up to concert pitch the day through by the
persistent purchases OF prominent operator, who has
lately whipped from the short side Atrabilious
bears growlingly suggest that there may be
moro pictures shortly offered for sale If
this course is persevored in, Ignoring the possibility
OF 'appes OF gold" being found in ''pctures OF sill
YER" Things would probably have gone well
enough had not unexpected episode Tilted all tho
financial fat into the fire. Certain "puts" or prvi-
legcs deliver Pacific Mail and Panama, issued by Mr.
Trcnor W. Park 1t is reported, regarded by that
gentleman contracts to be more .'honored In the
breach the observance" and were acted upon
In rcpudatorial point OF viow The news fell like a
live shell in the ranks of spectators Interested in
securities, and, exploding scattered quotations
In the most alarming manner Pacific Mail fell from
1914 to 12T 1.-THE lowest point in its history, while
Panama dropped from 100 regular los seller 60, 10
So under Of the greatest confusion and
excitement The tumble IN the latter stock in
the OF the election OF and capable board OF
direction and OF the three per quarterly dividend
announced to-day. The decline in measure
helped on by vague report that the Colombian gov
eminent had ordered the Panama Company to extend
their docks at Aspinwall at cost OF S. 500, 600
penalty OF forfeiture OF charter No ntmation of this
kind conveyed at the meeting to-day, and, though
probably ialse had nevertheless further depressing
effect upon quotations The excitement occasioned by
the decline in the above stocks completely
dwaried dealings in the usually active fancies and be-
You'd some speculation to what would grow out OF
the rumored confab between Mcssrs Garrett and Van
derbilt the freight cutting matter there nothing
OF moment to be noted
TO-DAY.
The following shows the most active stocks to-day,
in all OF which transactions 5000 shares
more Chicago and Northwestern preferred, 1900;
Delaware, Lackawanna and Western, IS. 200; Lake
Shore. 49, 100; Michigan Central, 10000; Milwaukee
and ST. Paul preferred, 1880; New York Central,
16.5O0 Pacific Mail. IS, 300; Western Union Telegraph,
$4,000.
OPENING, HIGHEST AND LOWEST.
The following table shows tho opening, highest and