The New York herald., 1877-09-01
FINANCIAL AND COMMERCIAL.
The Stock Market Less Active and
Generally Lower.
GOLD STEADY AT 1O4.
Government! Bonds Weak, States Dull and
Steady and Railroads Strong.
Money on Call 8 a 4 q 8 4 Per
Cent.
WALL STREET,

WALL STREET,
FRIDAY, August Sl-6 =. H.
Stock speculation ran suddenly into q calm TO- day,
and headway logged by OF transactions, fell
OF nearly one-half from yesterdays record. Ia fact
the given prices in vigorous manner DUR
Ing day or two back was principally owing to the
Of the shorts who had been caught napping but
with this passed away and particularly new expe.
dent hand Tor the bulls to avail themselves OF, the
market grew sluggish aud dull as 1t was quite natural
II should be. There considerable s nness in early
dealings, though with moro or less irregularty to
quotations, but as the day grew older and the GUS
somary houp al usually wired from Saratoga failed to
be heard In the board room business stagnated and
prices grew weaker such evidence as driited
in from the Spas rather the reverse
Of strength compelling, bearing token, as
it did, that the aperient nature Of the waters
inclined to loosen the hold upon the mass OF ac
cumulaed stocks, even as it was affecting naturally
the corpore viie OF the bull leaders themselves The
market, however exhibited wry face to the saline
draughts which came IN the shape Of orders TO sell
aud could not DO coaxed to swallow more than u
limited amount without bctrayng disgust through
lowering OF prices Consequently the dose was not
pressed and the volume of business fell of without
materially affecting quotations. During the last half
hour nrmer feeling setin, probably for the purpose
Of making a favorable showing at the end of the day
morning 1t Is confidently stated that the Baltimore
and Ohio Railroad have negotiated, through Messrs.
j. S. Morgan Il Co., OF London, the much discussed
loan OF SS,000,000. 1t Is TO be borne in mind
that this is not 10 DO employed
for improvements upon tho road and Its equip
ment, or meet the demand OF an increased
traffic, but to pay of floating debt which should nat
uray have been provided for by the earnings Of the
com, my Money on call ruled to day at to per
loans for tho rest OF the year the latter
figure Experts look for much higher figures before
many weeks as duo the drain westward and south
ward How such an will affect the marxet prices
Of stocks, which are so extensively held margins,
the history OF the past under similar circumstances,
will readily answer
THE SALES
The sales of active stocks Aggregated 1o5 900 shares
which wero distributed ows:--.New York Cen.
lraI, 1856 Erie 1900; Lake Shore, 26,lS0; Wabash
II, ,e23; Northwestern, 4,2oo; do. preferred, $685.
Rock Island 4, $50; Fort Wayne l75; Milwaukee and
st. Paul, 500; do preferred, $500; Delaware,
Lackawann and Western, 4,S00 New Jersey Central,
45l Delaware and Hcdson Canal, 200; Morris and Es-
SEX SEQ; Michigan Central, 1875; Illinois Central,
ll50; Union Pacific, 4i0; c., G. and c., $500; Han
nipal and ST. Joseph, 1000; do. preferred, 100;
Ohio and Mississippi, 30o0 Western Union, 1872;
Pacific Mail, l, 400; do. preferred, 200.
HIGHEST
Tho following were tho highest aud lowest prices OF