The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-11-28
FINANCIAL and COMMERCIAL,
The Stock Market More Ac-
tive and Very Weak.
GOLD 1O2 10 A JOB.
Government Bonds Firm, States Steady
and Railroads Irregular.
MONEY ON CALL 4 A 8 PER CENT.
WALL srRxsr,

TUESDAY. Nov. 27-6P r. N.
The inqulring mind which, as = rule possesses the
average stock broker has been much exercised TO-
day In endeavorng 70 discover tho seller sellers OF
the large amount OF Lake Shore which was marketed
yesterday Mr.. Gould was OF the question, as he
Is supposed 10 DO already short oft; Mr. Vanderbilt
represented impossIbhty. as he never speculates
and Mr.. Kcsne Is well convinced Of the value Of
the property TO soil share at ruling prices. Some
body Sold nevertheless and freely too, OF long stock,
greatly TO the encouragement Of the bulls but vastly
10 the dedication OF tho besrs. Marking down Inc
brokers employed las would partridge IN stub
BILE ned) tho HES back the Union Trust Com
pany as the g,ver OF the order and wonders ut the
same time what an institution Of this class has &c do
with speculative fancy like Lake Shore. unless the
same should have been held a collateral security
Tor advances made We havc Mr.. yanderbilL's lpse
airit that he is NO buyer upon margins. and we have
Mr. Kecne's-but, on consideration, no, we haven't
80 the question 70 who killed Lake Shore is
As great mystery a. "Who killed Cock Robn9n and
10 just about as important. Yesterdays butchery,
traceable TO the shambes Of the account
and counting up some ten twelve thousand Shares
was renewed this morning for about the
amount, with the immediate effect OF reducing the
market value from 60 10 645s. During The last hour
Two, however, tho sacrilcal knife was stayed by
the Intervention OF the bow window party. and the
price steadied up TO 6o,l 651, at which closing
prices were made With the decline in Lake Shore
came decline In the rest OF the list,
but TO less degree-the fall Of the Eve OF the
ket pulled down the Adam Of less favorite securities
MS matter Of course threatening at time to turn
tho speculative garden into abominaton Of desoa-
tioD. 80 far as bull pasturage Is concerned The evil
was checked In time, has been noted, and the
rious active stocks that had weakened IN sympathy
with Lake Shore grew again with its strength when
thQ iuck WAR; npn in In aftarn nup-
Ing the first hour two the tendency Of prices
upward, an advance being the rule right through the
list. Later on depression set In, which made lower
bgures, and subsequently an active and strong
ket, which In most instances restored values 10 the
best quotations OF the day. Thus the coal stocks
Lake Shore. Western Union AMI the North.
Westerns, after declining one per cent or
more. recovered to within fraction OF opening
prices. while tho ST. Paul shares, common and pre-
fcrred, finished with gain OF half point Michigan
Central the contrary, to have recovered
from It's unhealthy twist Of lew days since, and
sluggishly downward from 62x 10 6oa, though II
nnaly rallied to 6l1s As predicted in this column
The coal sale held to-day brought lower prices by 5c
I5c per The effect upon the quotations Of shares
however. was small, the decline beng quito much
the example Of Lake Shore to the results OF
The auction. widespread belief still obtains that
combination Is probable, though the companies them
selves claim to be innocent doves Of any such
tenton The episode Lake Shore gave fresh life to
business upon 'Change, rs aid to the homeopathic
speculation IN blackboard quarters. where seedy
pun,ers sat gazing upon chalked ouotstions with the
game absorbing interest that would characterize
group of connoisseurs before masterpiece OF
Detaille Whether the Stock Exchange has lost
~ the transfer OF business 10 those Establishments
is mooted question, though 1t cannot be disputed
that these latter have obtained a very lively business
from somewhere
The opening prices to-day as folows:-West-
ern Union, 7s,s Lake Shore 65s; New York Central,
1o6X: Michigan Central, ga; Rock Island, 1O0H;
Delaware, Lackawanna and Western, son; Delaware
and Hudson, An; Morris and Essex, 70; Erie, 9X
Ohios, 50; Wabash, 1873; st. Paul. 35I; do pre-
ferred 70h; Northwestern. 361; do preferred, 68f;
Pacific Natl, 2sh Illinois Central 1871; Hannibal and.
st. Joseph l2k; do preferred, 20; Quicksilver, Tx;
Chicago and Alton, 1871 do preferred. 100; c., c., q.
and l., 81 u; Kansas Pacific 9; st. Louis Northern,