The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-22

FINANCIAL and COMMERCIAL.
The Stock Market Active
and Weak.
GOLD lO5 A 1O4 rs.
Government Bonds Lower, States Dull
and Railroads Lower.
Money on Call 4 3 1-2
Per Cent.
GOLD 1O5 A 1O4 rs.
WALL STREET,

WALL STREET,
TUESDAY, August 2l--6 p. NJ.
Tho announcement that tho high contracting powers
OF the Western Union and Atlantic and Pacific Tele-
graph companies were to hoid sort OF sanhedrm at
the Windsor Hotel last evening, when, by the estab
snment OF alliance for tho future, past differences
DO forgot, present dissipated and future
competition avoided. drew an Interested crowd OF
operators who sought TO scent out some Glow to tho
course OF to-day's prices. They however, got ntte
return for their curiosity. The council room was
closely tyed Masonic lodge, ana, according tho
newspapers, Theoretically sealed to tho invasion
Of sughs but limited supply Of writing materials and
\ copous provision Of b. & 5. Prominence, how
ever gwen to the ordering OF "two bottles OF ink"
which to be intoerable deal OF luid Tor tho
amount OF work done, and can only DO nc-
counted for BY supposng that while one
employed In drawing up the contract
the other used 10 filling up exculpatory
p. p C's TO such Atlantic and Pacific stockholders
tho transfer Of H. 900 shares by Messrs Keene
Sage had left out in the cold.
to the taken at tho meeting last night the
participants are rs mum as an oyster. Peepng Tom
acquired q more accurate anatomical cognzance OF
Lady Godva than did his financial imtators last night
OF the proceedings in tho council room. Although the
oak thus eilectually sportcd, there VAS enough
draught through the keyhoe TO furnish the following
cms which for tho time being and until the necessi
tics Of stock speculation require their may
be accepted as facts;- la,y niitS FL. .
Tho two companies 10 pool their gross earnings
basis Of q to Western Union ana X 70 Atlantic
aud Pacific. ~ 90 te..
Rates TO be advanced, but not to old figures. while
expenses will DO reduced by suppressing competing
Offices where such exist IN any locality.
AS an evidence that ''busincss is meant the IL 900
shares above referred to to be transferred to Mr.
William H. vanderbilt in trust and the to
receive In 90 600 shares OF Western Union;
transaction which at the present price OF the two
stocks affords very pretty profit to the sellers OF
Atlantic and Pacific
AS for some days past the futures OF the market
followed the telegraph avore this morning also
Early prices all strong aud higher In unison with
Western Union, which advanced TO s2J4 Later on,
under attempts ct realization prices declined, reo-
graph falling OF to soss and Lake shore from eo,s
6ss! History is again repeating itself, ohron,cing
this time bull party loaded up to the eyes and bear
party sucking it's for sheer want OF assimilat
ing pabuluu. The longs have made huge prolts-on
paper but the conversion into cash, ike promssory
notes. Is subject to discount and It is not improbable
that there may DO going protest before liquidation
els complete.
sALss TO-DAY.
Tho sales Of active stocks day aggregated 206 600
shares, which distributed as follows-New York
Central, 100: Erie, 1000; Lake Shore, 1886;
Wabash, 70o Northwestern, 1850; Northwestern pre-
ferred, 1905 Rock Island, 3,o75; Milwaukee and st.
Paul, 525; milwaukee and ST. Paul preferred O. 600;
Pittsburg, 100; Delaware, Lackawanns and Western,
49, $50; New Jersey Central, 500 Delaware and Hud-
son Canal, 1850; Norris and Essex, 1910; Michigan
Central, 1878; Illinois Central, $50; Union Pacific,
200; G. c. ana l. C.. 700; Western Union, 59.sl5;
Atlantic and Pacific Telegraph $780, Pacdo Mail $3.50;
Quicksilver 900; Quicksilver preferred 200; Adams
Express 100; Hannibal and st. Joseph $50; Hannibal
and st. Joseph preferred, scO Ohio and Mississippi,
1000; Panama, 100.
HIGHEST AND LOWEST.
The following were the highest and lowest prices Of
rAock tn.da