The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-03-29
FINANCIAL AND COMMERCIAL.
The Stock Market Very
Active, but Irregular.
GOLD 1O4 ga A 1O4 rs.
Government and Railroad Bonds
Generally Lower.
OLD 1O4 ga A 1O4 rs.
Money Easy at 2 1-2 8 Per
Cent on Call.
WALL STREET.

WEDNESDAY, March 2S-6 r n
Traders in the coal stocks pushed Delaware and
Lackawanna up to 81 this morning, dropped 1t TO ok.
recovered 1t to 6l then waited tho result Of the
coal sse for the next movement When It did come It
was In questionable shape being from 10 TO c5
cents per ton loss than the February sales by the
Lackawanna Company and triac below those OF the
Pennsylvania Company made last week. 1t had boen
seductively ntmated buyers OF the stock that the
auction prices would be made to show higher figures,
aud the failure OF the scheme fell with disheartening
effect upon the market So much that when the
facts reached the street lively selling movement
commenced and the price broke down to 59X almost
without u check Tho OF stockbrokers know me-
dium between unbelef and credulity, and may usually
DO found perched upon extreme or tho other.
Just now they shaking their heads doubtngly at
the coal Sales regard their integrity obviously
does orthodox divine the books Of the Apocalypse,
and In many instances declare boldly that they are
"rggcd" to suit the stock market Such Impressions
sent abroad regarding last months sales, such
belief largely prevails concerning the Pennsylvania
Company's action Of last week, and such would
doubtedy have been In mems mouths to-day had the
figures presented the favorable shape they were ex
pected to have taken. Not having done SO. thore
much disappointment and imitation OF the army in
Flanders in tho way OF strong language, modified how
ever. toward the close by fractional recovery,
presidents will develop something favorable. Apropos
OF this meeting, great is laid upon
the probable presence OF Mr. Asa Packer,
the President Of the Lehigh Valley Railroad.
He appears to be looked upon the nest egg Of the
meeting, without whom the process Of incubation can
not go on, or, at least, nothing be Matched that will
result to tho advantage OF the coal carriers Although
the probabilities to US to DO the other why there
mysterious intimatons afoat this afternoon that
something favorable will grow out of the meeting and
that Mr. Packer will be present in proprid persona.
Next to the coal stocks Lake Shore assumed tho
chief Importance being dealt in the extent Of 900
shares, and figures which varied from 40 to AK.
There is strong talk OF removal Of tho railway
all It's bitterness ana with its attendant depressing
effect upon value. Both Lake Shore and Central Hud
came under the harrow to-day upon this account,
the latter being particularly affected, as 1t Is asserted
being the first to throw down tho gage OF
battle the Baltimore and Ohio Company as
referred yesterday. Short sales in both OF these
securities have been made to an extensive amount
based upon anticipated renewal Of hostiites and
In many instances by parties who presumably should
know what they about The interest OF the day
swinging between the coal matters and the railway
war; the rest Of the list escaped scot free without
either commentator or attack.
THE SALES TO-DAY.
The sales Of active stocks aggregated 2 900 shares
which were distributed tolows:-New York Gen.
trial. H. ITO; Erie, 1885, Lake Shore, 67,05o Wabash,
1850; Northwestern preferred, 300: Rock Island,
$500; Milwaukee and St. Paul, 100; do. preferred,
1000; Delaware. Lackawanna and Western, $3.50;
New jersey Central 700; Delaware and Hudson Canal
7,O7l; Morris and Essex. 500; Michigan Central,
TO- 200; Illinois Central, 1000; Union Pacific, 200;
Hannibal and St. Joseph, 2oO do preferred 6OO OHIO
aud Mississippi. 700; Western Union, 10000; Atlantic
and Pacific Telegraph, s76; Pacific Mail, 6s2o
OPENING HIGHEST LOWEST.
The following table shows the opening, highest and