The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-07-13
FINANCIAL And COMMERCIAL.
The Stock Market Weaker,
but Active.
GOLD STEADY AT los Ia.
Government Stocks .ower-Railroad
Bonds Irregular
MONEY on CALL glSy At "a Ia PER CENT.
wALL STREET,

THURSDAY, July l2-tP
The bulls, having stimulated The marKe, from lay
10 day by the Application OF such Strengthening plnsers
as be found in the successive use Of vrious
Stocks capped the 6nal day in he shape Of
Western Union This dons BY bidding the price
smartly from 6i1 10 81, while under Of the
strenuous efforts were maze 10 sci. The wEols
market Greater success however was met with in
marking down quotations than 10 marketing stock,
although the aggregate transactions OF the aay
thereby run up 10 nearly 200 900 shares any rate
tho result OF the days business decline n 70
per cent IN the active specalties and very weak
and ragged looking market at the end AS has been
frequently pointed out in this column, the entire
absence Of public has reduced the pur-
chasing demand to the snort interest alone
and whom this is supplied the demand ceases.
THIS point has been reached, ana the bulls
having killed of the majority Of tue bears In The last
batsue, find themselves IN tho condition Of hunter
with the game spelling upon mis- hands Whether thus
I'm idsunner madness" Of July rise viii DO renewed
under the impression that new short interest being
created, whether an attempt at further advance
Will DO abandoned, the next few days will reveal;
meanwhile the nstigators Of the advance 1T sub
pets for writ Of de iunaco inquirendo, aud 1t would
DC Kindness toward them Tor somebody 10 move It,
Tho changed aspect OF things this morning was
assisted, perhaps compelled by threatened disturb
II Is the old story repeated I'D nauseam. Too many
railroads, too little trafc and utter oblivIous
ness 10 pllghted faith when sef-interest IS
touched. Just there is more smoke than
fire, Tor limitations oil danger are confined 20 the
minor outlying roads that lead into Chicago and St.
Louis; but there Is telling how soon breeze may
DO Kicked up that will carry the confagraton the
trunk lines Under this apprehension, and as nero
matter OF insurance. holders o! shares inclined 10
realization Us being the best policy attanaOIc
The coal stocks were the weakest OF the lot, simply
because they had been mado without reason the
sNongest Delaware and Hudson sunk under the
Anticipated weight OF tho $40 900 mortgage, despite
Of the denial that such Is contemplated and Morris
and Essex and Delaware anu Lackawanna equally
weak, either in sympathy or from troubles OF their
The trunk lines followed at respectful distance
for reasons have gwen, aud grangers renamed
steady because nobody bothered about them Mean
while railroad bonds held their own and even ad.
vanccd some Instances under the 60 Mai sun that
shouo out OF the investments demand Ia the shape of
the July dividends.
rue SALES TODAY.
The sales OF active stocks to-day aggregated 1888 3as
shares, which distr buted as follows Now YORK
Central, 49, 02; Erie, O90 Lake Shore 49, 100; Wa.
bash. 800; Northwestern zoos Northwestern preferred
1900; Rock Island $3.50; Fort Wayne 200: Mw aukee
and ST. Paul. 700 Milwaukee and ST. Paul preferred,
$3.50; Delaware, Lackawanna and Western 49, GOO New
Jersey Central, 800; Delaware and Hudson Canal.
H. 100; Norris ana Essex. 1850; Michigan Central
$685. Il,aos Central, 700; Hannibal and St. Joseph
preferred. LOG; Western Union, 2,5OO Atlantic and
Pacific Telegraph, 600; Pacific Mail, 500.
OPENING, mIG HEST AND LOWEST
The following shows tho opening. highest and
Lou ri duv