The New York herald., 1877-02-01
FINANCIAL and COMMERCIAL.
An Active and Feyerish Stock Marktt-ShaPp
Fluctuations in the Coal Shares.
GOLD 1o5 1-2 A 1O5 IA.
Money on Call and 4 Per Cent-Goyernmen
Bonds Active and Shade Lower-Rail-
way Mortgages Generally Firm.
WALL STREET.

WEDNESDAY.
Il is an accepted uuism that no household with any
respectablity Is or should be, without
its pet skeleton in a closet The Stock Exchange. as
a family OF many MEMBERS has always something OF
tho sort on hand and to-day the head and bloody
bones was revealed the shape Of tho coal stocka
There was every disposition at the opening 20 provide
a Of good things for guests sanguine OF higher
prices and satisfactory spread for hungry bulls,
when, presto New Jersey Central, like the wired
anatomy which subdued Tuscuan banquets excrted
its baleful influence upon the market and oreshadowed
the dies ira Of lower prices
Plainly, tho movement OF to-day's quotations hung
upon the coal stocks most especially upon the New
Jersey fancy, which, declining rising, found
tho entire list acting most amlable ac-
cord II was we'll known that meeting
Of the Jersey Central stockholders had been called for
this morning. and the speculation Of the day turned
upon probable action that would be taken Bilious
bears who look upon the anthracite properties as be-
yond saving regarded the conference in the light Of
ante mortem wake, where funeral baked meats In the
shape OF pleasant reminders OF former dividends
would be freely dispensed, out where little could be
suggested as TO tho salvation Of the company
Accordingly short sales were freely induged In, with
the effect Of carrying price down from 24X to 2l
subsequently, however, facts, or at least rumors
leaked that things not so bad as had been an
,cipacd and the bcars quick turn tail at the first
scent OF dangor were camorous In their efforts 10
buy as they had been TO SELL Through this means the
price strengthened vsbly, and was speedily run up 10
o. though 1t lost quite per cent in npa dealings
The action taken at to-day's meeting may be briefly
described as follows Mr.. Knight the president,
stated that object OF tho meeting was TO urge upon
the stockholders the necessity OF subscribing 70 tho
So O0O 900 bonds. they were recently invited TO do
bv CIRCULAR and which thus far had elected little
opA q
the property was be beyond criticism but TO
retain u In that state or continue the road
under the present organ zaton. was impossible with
out the assistance OF the stockholders which was
necessary should bo expressed by tho amount above
stated.
II was also stated that the earnings for the cur
rent yoar as estimated, would amount TO $500, 600 to
81, ,oOO. .ooo
The Lehigh and wikesbarro Coal and Iron Company
were also reported in to tho Central Com
pany some ST. 500 900, which amount steps would 90
Immediately taken to collect
This latter project appears very we'll upon the face
of IT, but the two companies being somewhat liko the
s,amesc twins, with a mixed individuality, which rem
ders strict distinction of business difficult matter,
II Ia not easy TO SEQ how the plan Is to be carried
out
Late in the day It was currently reported that the
$3 required had boon subscribed to, but there
was nothing to verify the story.
The history o! fluctuations in tho other coal stocks
was the history of the Central property, they rose
and fell in unison herewith, the only point OF in-
terest being that Mr. Soan the President Of the Della
waro aud Lackawanna corporation denies all reports
of his company being unable respond to all debts
and obligations when and presented.
rhe rest of the market became good bad and tn-
different under dicaton Of the coal stocks, and wore
otherwise without special feature.
TnE SALE DAY
aggregated 23 63S shares which were distributed a.
follows:-New York Central and Hudson, l,450; Erle
200; Lake Shore, 34,1o0; Northwestern 200; North
western preferred, LOO; Rock Island, 700 Pacific
Mail, 700; ST. Paul. 5Oo0 do preferred, 25 ooO Oh'os,
400 Western Union, 45, $685. Wabash, 800; Union Pa.
ciac. 900; Delaware, Lackawanna and Western,
S. 600; Now Jersey Central, 46776; Michigan Central
$500; Illinois Central l,6oo; Delaware and Hudson
Canal, $500.
OPENING, HIGHEST AND LOWEST PRICES
Tho following table shows tho Opening highest and