The New York herald., 1877-03-01
The Stock Market Active, with Gen.
eral Rally in Prices.
GOLD 104 rs A 104 ga A 104 5-S.
Government Bonds Feyerish and Weaker at the
ClOse-Railway Bonds Irregular.
Money Easy on Call at 1-2 Per Cent,
Closing at Per Cent on Call.
WALL STkEKT,

WEDNESDAY, FeD. 2S-O r. M.
Like Garrick between Tragedy and Comedy, In the
famous picture, the prudent stock obbor Is hating
tween two opinions the future OF the market and
IL in sore uncertainty as TO which way to turn.
Bears, dyed In the wool laugh to the existing
animation and impue the rise to dextcrous twist OF
the shorts They prophesy that the advance viii die
out with tho short interest," and that the effect will bo
simply 10 establish favorable ''coigne OF vantage"
upon which build fresh series OF sales. Meantime,
per contra, long suffering bulls regard the situation
with unusual hopeulness-are generally buoyant and
sometimes blatant They regard the Presidential ques-
tion to be as good settled the rcposc OF the nation
nssurcd and argue that the country will at last got the
chance, for which it has long been waiting
OF fresh prosperity. Between opinions thus dia-
metrcay opposed TO each other the prudent speculaor
stands content TO accept the dilemma Tor fear OF
toss from It's horns should he swcrvc TO the right
left There are plenty Of imprudent operators, how
ever who willing to tho odds and take the
chances long they deprived Of their daily
gamble and these made lively work to-day. Tho In
clinaton was strongly toward the bull side OF the
account, and the effect visible In rising market
and Increased transactions No inconsiderabe part of
The strength attributable a sharp upward squirt
Of the coal stocks. which in due the
ablo prices realized the auction the Penn
sylvania and Delaware and Lackawanna companies
Much apprehension had been lested lest serious
concession In prices would have to be submitted to-
but when 1t was realized that the rates obtained
wero oven better than those OF the previous
sale tho favorable effect at made itself visible
on the stock market by sharp advance in quotations
Bears not easily nOnpussed, however, and for
tile in resources and did take long construct
neat little story The effect that the coal sale
put job, in that buyers and sellers convertible
personages and that the product disposed of
likely to be disturbed.
We give the story for what is WORTH simply noting
that 1t had q certain value in the board IN the
way Of creating doubt and subsequent depression
which not entirely recovered from. Both Western
Union and Lake Shore were prominent In the advance
though Gould's broker apparently attacking the
former through the medium Of seller 90 options
5000 shares having been thus marketed There was
no proof, however, that equal larger
amount was not bought at the time, for cash
regular by other agents quietly employed Tor that
pose. Points given to purchase Rock Island
and Northwest preferred. There a moderate ad-
vance in each Of them, but the price did hold
the end Some of the Twenty third people have
been buyers the last three days. whether
they have ventured beyond covering shorts is not
yet apparent They have keen scent for O dollar,
however, and have not been bad persons to follow in
the last sixpmonths 1t is desirable nevertheless
get we'll their trail before giving tongue. The suit
70 eject Messrs. Torrance King from the receiver.
ships Of the Ohio and Mississippi road commenced to-
day. and hopes entertained that some vitality may
be galvanized into tho stock which has lain dead
herring tor the last six weeks Perhaps the most
notable event of the day, and nearly overlooked
was the decline OF gold to 1041a which the lowest
prco since June, 1862 The decline is referable tho
action In Congress, which seems to presage q quiet
solution to the political problem.
SALES TO-DAY.
rhe principal sales to-day were confined to the fol-
lowing stocks, and distributed as foows:-Chi-
cago, Rock Island and Pacific 6.lOo; Delaware, Lacka-
and Western, 45,9OO; Delaware and Hudson
Canal l1,900; Lake Shore, $4,000; Michigan Central
5000; Milwaukee and st. Paul preferred, $500; New
York Central, 10000; Western Union Telegraph,
$4,000.
OPENING, HIGHEST AND LOWEST.
The following table shows the opening, highest and