The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-06-21
FINANCIAL and COMMERCIAL.
The Stock Market More Ac.
tive and Weaker.
GOLD STEADY AT lO5 So.
Government and Railroad Bonds
Generally Firm.
MONEY ON CALL "A PER CENT.
WALL STREET,
WEnxYapAY. Juno 20-b Z. n.

I
WEDNESDAY. Juno 20-o r. N.
Board members VINO had settled themselves down
this morning to . discussion Of the Alton oil gman
question beng topic prolific Of interest than
any likely TO BE- anorded by the elcgraphc tape
agecsby surprised at the advent OF several unhoped for
events which loss affected the market. After
. pulsation or two during the Arst half hour tho
OF prices tsadsd downward, bringing up at the
close with the lowest quotations OF the day Western
Union and tho railway stocks worked together, for
the LAY At least forming unnatural union tho
''two hearts which beat ono' In the play OF "lpeo-
mar" on a. Mr. Stokes twin boats his casamaran,
but still having tho object point OF lower prices In
view. Ultimately these were gained, although Il does
not clearly appear why the telegraph stock
should have bssn particeps crimiais,
thu dividend and decreased surplus business
has been swallowed by stockhoders--wth gulp Il IS
true-but still swallowed and the Atlantic and Pacific
blister has ceased for the present draw away bust!
ness BY further cutting OF rates Tho fall in railroad
shares on the contrary, was less difficult TO account
for, Il nstgated BY remarkable decline in
that conservative and highly eulogized security
tho Baltimore and Ohio Railroad. Selling a6 yes
tcrdiy unaccountably tell or to so to-day The why
and the wherefore is q mystery which the telegraph
has Jailed to solve and to which conjecture unsa,is-
factorily responds One solution (which may be taken
with the necessary OF salt 70 tho effect
the company in las eagerness 10 make good showing
oil earnings, has been practising the familiar process
Of making one hard wash the other. In a word,
shat II has been large buyers Of grain, the
freight which was credited TO the earnings
Of the railroad and the loss first charged TO
some elastic account This Is merely street talk aud
we give It Tor what IL Is worth, simply holding up
the company tho "awfu example" OF the anthracltes
which have come srof by pursuing the same policy
OF abandoning legitimate business. Tho coal stocks
followed the railways In their decline. for reasons
growing out Of the announcement OF a sale on next
Wednesday OF 600 tons OF coal by tho Delaware and
Lackawauna Company. Information OF this fact was
published in this column several days ago, and is,
therefore, no news TO our readers The vexed ques-
ton TO whether tho four per cont loan be paid
in gold in silver coin 10 practically settled in favor
Of tho former in letter addressed by Secretary Shcr
man 10 Mr.. French. The Vows taken are precisely
those suggested previously this article to the
that inssmucn 10 gold only IS received tor the bonds
gold can only DO used medium Of redemption,
less extent
THE SALES TO-DAY.
Tho sales OF active stocks At the Board to-day aggro
gated 1888 900 shares, which distributed toll
lows:-New York Central, IL 300; e RE, 1900; Lake
Shore $50; Wabash, 200; North western, 500; do.
preferred 2 400; Rock Island, 500; Milwaukee and
ST. Paul. 460 do. preferred, S,l20; Delaware. Lacka-
wanna and Western, A. $50; Now Jersey Central 100;
Delaware and Hudson Canal, 1885, Morris and Essex.
$500; Union Pacific, 100; Hannibal and So Joseph,
200; do preferred, 100; Ohio aud Mississippi, 100;
Western Union, ~ 555; Pacific Mail hoo; ST. Louis,
Kansas City and Northern preferred, 1900
OPENING, HIGHEST LOWEST
The following tapic shows tho opening. highest and