The New York herald., 1877-07-10
The Stock Market Active
and Strong.
GOLD STEADY AT lO5 3-s.
Government Bonds Steady-Rail.
roads Stronger.
MONEY ON CALL EASY At 1 1-2 A 2 Per CENT.
WALL STREET, I

To give the bull party their due. II must be con.
cedcd that the upward movement In stocks is pushed
with good deal OF pertinacity They wound up the
machine set It going, frightened the bears into aiding
them with some treadmill work and to-day have got
II into shape almost TO run aonc At least they sue
recded In grinding out higher range Of prices the list
through, aud that, too, without having recourse to
my auxiliary power In tho shape Of tavoring
md reports Tho whole tone Of tho market was ono
G strength and this quality especially noticeable
when large blocks Of Central and Hudson and Lake
Shore were offered for salo without coLceament to
xho tho Undoubtedly there was con-
siderable speculative soap anu watcr used and trusty
agents deputed TO the mansc lest collapse should
take place. yet nevertheless the broker community has
been sufficiently mprognatod with belief in still
higher prices to tempt it to purchase at each decline
For how long this belief DO acted upon in safety
cannot readily be got at without access TO tho nner
consciousness Of those who control the movement.
This is con.esscdly difficult matter, oven suppos-
Ing that they have such a thing inner
consciousness, or, for tho matter OF that
any conscience at all, 80 far as regards
stock gambling matters. 1t is the moro difficult, IN
that tho bulls themselves can gvo no good rcaeohs for
advance just now II they are asked, knowing, as
they do that neither the state OF trade earnings
OF the railroads it, and that 1t simply ruse
to got out Of trap into which they unw-
tlngly fell Having been caught loEg oil
stocks under tho. impression that
ton OF railroad difficulties and general
European war would naturally enhance values. and
being ppontcd by the failure of such result the
intention to be push prices up buy littlo
as possible sell as much as they and hold on to
the rest until the tall, with the Micawbor-ke bope
that something will then turn up to get them out Of
the scrape Stocks easily lent carried that It
will cost little to pursue this course, while tho same
fact prevents outside holders from rushing TO market
with shares they have acquired at highor lsurcs.
Nevertheless, tho market, being almost entirely
brokers one, is possessed of real stamina and has
actually moro body than thin claret cherub
oon tombstone. Transactions to-day nearly
aoubc those Of Saturday, and nro of special i'm
porancc from the considerable dealings in Con.
tral and Lake Shore, which gained nearly per
net opening prices. Northwest preferred did
equally well in spite oil the injurious stories set aoat
day SINCE and ST. Paul preferred struggled up
fraction in its position OF succsdt to tho main spccula
lion. The coal stocks still allowed TO lie psyda but
under the limited transactions which took place, ad-
vanced with tho remainder of tho list AS for the rest
OF tho Market 1t was merely leather and prunela
THE SALES TODAY.
Tho sUes Of active stocks day aggregated 15 700
shares whicn distributed us follows New York
Central O4s5 Erie, 900; Lake Shore, 40 600; North
western, 75O do. preferred, 100; Rock Island 7soo
Milwaukee aud st. Paul, 200 do. preferred, Ii, ,2OO
Pitsburg, 14o; Delaware LacKaw,lnna and Western,
10 500; New Jersey Central, s34 delaware and HUI
son Canal, $685. Morris and Essex, 7s00 Michigan
Central, 1.725; Illinois Central, z, l25; Union Pacific
20O Hannibal and 81. Joseph, 700; do preferred,
172l; Ohio and Mississippi, 900; Western I'm on o. c0O
Pucllc Mall, S64
OPENING, HIGHEST LOWEST
The following shows tho opening, highest and
N,