The New York herald., 1877-02-02
FINANCIAL AND COMMERCIAL.
Speculation in Stocks Again Irregular and
Coal Shares Still at the Front.
GOLD DOWN TO lO4 7-s A lO5.
Money on Call and Per Cent Government
Bonds Generally Firm-Railway
Mortgages Shade Lower.
DECREASE IN THE PUBLIC DEBT.
WALL STREET,


THURSDAY, Feb. 1-6P.
brilliant finale at the close OF business, flourish
oftrumpcts at tho opening next morning, and thence
general dropping of prlccs until tho time comes for
renewal Of the vcspcrtne squirt, seem nowadays to
follow each other regularly the procession OF tho
equinoxes
From morn to midday and from "noon to dewy eve''
the course Of the market has been distinctly mapped
out that the tyro in the Of scalpIng could
scarce fail to win If he played his cards according
tho above system. IL would not advisable, how
ever, to upon tho being unaltoraBlc lko
the laws of the Modes and Persans Tor tho controllers
OF speculation capable OF upsetting tho whole
scheme at any momcnt through pure deviltry.
1t il nevertheless truo that Tor days back tho
market has been subject to regular variations as
described, and to-day has shown excep-
ton TO the rule. Thus business started of
under the full head OF which had bcen worked
up last night, and was prominently affected by the
Of the coal stocks. and OF New Jersey Central
particularly, this lattcr having opened at per cent
better than it had closed the day previous From the
point OF 27 II quickly worked its way to 2sh, then
1uttered about in dodrums constantly chungng
figures, and finally brought up at 26s for closing sales
Such crumbs OF Information as were allowed to sift out
through the Jealousy guarded doors OF yesterdays
meeting we're evidently accepted crumbs Of comfort
bv spectators long OF the stock, and used TO
sustain and even advance tho price; but later on,
when the So 000 900 loan be subscribed tor
was asserted TO have attached zero too many, the
quotation tell OF and stayed of for the rest of the day
1t Is possible that the company knows its busi-
ness rhough In the light Of the years. history
may be excused for doubling tt and has good
for keeping its affairs mum oyster, but
IL Is nevertheless apparent that such is pre-
judicial both to Its own credit and to the interest OF
stockholders, while It is encouraging to cowans and
eavesdroppers, tempted to listen at keyhocs
for Information that belongs to tho public ear
The other anthracite properties followed the Jersey
fancy in close imitation. but were more moderately
affected In the way OF fluctuations though the dealings
in Delaware and Lackawanna were even heavier.
The influence Of the coal stocks was clearly dlscern
BILE In Lake Shore and Western Union, which 1uo-
tuated within the bounds Of X per cent and were
more animated than yesterday There evidence
that the California and Exchange parties were
again having hand the bellows, while the PRIV
legged operator Of William street. who speaks with
10000 share authority, stranger to transactions
lin Lake Shore.
ST. Paul preferred offered fewer attractions to-day
than yesterday, with diminished dealings anu at
per cent lower range OF ngures This Is surpris
ing OF the annual report for 1876 which, re-
specific the mcagre business being dono by the
road and likely bo done for some months'to come,
Is not promising OF satisfactory results
Perhaps the most important, AS we'll agree
ablo sensation of tho day tho break in gold
1047S, this being the lowest point touched since
June, 1862.
The closing price was. however, los bid, little
strength beng given to the premium by tho steuing
oil foreign exchange and by moderate desire cover
shorts ut price which looked unattainably low when
the contracts made.
THE SALES TO DAY
were folows:-New York Central and Hudson,
4s5O; Erie, AGO. Lake Shore, 81, 100; Northwestern
preferred 2,40O Rock Island 1000; ST. Paul. 400; do.
preferred 800; Ohios 100; Western Union, 29,7 $50;
Union Pacific, 1000; Delaware, Lackawanna and
Western, 25.4Oc; New Jersey Central 1880; Michi-
gan Central 5,9o0 Illinois Central, 1,l5O; Delaware
and Hudson Canal, !, 400
OPENING HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest and