New-York tribune., 1877-05-03
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WEDNESDAY, NAY Pr. NJ.

WEDNESDAY, MAY p NJ
If there existed single justification for the
recent and sharp advance IN the prices of stocks
beyond the vagres OF powerful specuators
reaction which has occurred to-day might be regarded
healthy indication Of future bull market. But the
fact Stbere is no restoration Of conhdcnce-wch there
should not be- till officials make a clean showng-and
the decline Of to-day has taken place against the
persistent efforts to steady and hold prices up Yet
the smaller operators viii do well TO the present
market with extreme caution, because the position
such that they sell short prices will be UP
them, or they buy sufficient quantity the market VIII
be left without support That is to say War ana re-
newed prosperity for us has placed the large operators
in unnatural position to escape from which their tao
ties hencclorth viii be governed by the opportunities OF
the moment.
The stock market TO day opened sluggish and void Of
animation; prices at first yielding fraction, only to be
immediately restimulated and then 20 settle of When
II IS explained that at each advance the bidding
spirited and rapid study the official list Of sales will
show howSricos rose on few purchases while the
turn tide the transactions reached 10 thousands. For
instance, Delaware, Lac6awanna and Western, which
opened at 520j2ls and declined TO 81 81 advanced
In few minutes TO h3is transactions in only 1900
shares Of stock, while at the highest price aud down to
81 81 again, the sales aggregated 300 shares later On
The price again rapidly bid up from 51& TO 52ai on
1000 shares and then 6,IOO srns were dealt before
it again touched 5Iai. sai the stock sold at
5O7s and after a rally 10 5ll2 closed at 51ls.
l'tioNtIt anu HulHOH Was aho aFlNt Jul
less erratic than its competitor; Opcl>ng at
4S il sold at 4s9 iSl20f7 204Ssa iG2i 0S7l3. Morris
ANA Essex started at 7G3 and followed the fortunes oi
its lessor by selling at 96017a4 G7J01Jli. The trunk
lines exhibited the same fcycriSh characteristics which
appcrtHncd 10 the culcr-. Central and Hudson sold at
9i0g37vU 9i U9370 "a OBJ O933i; Lake Shore at
52e0Jl 3 co. oGJl -0J2l - OJ1ai, and Michigan
Central 40 425sa 1880 424 a i3lI a I2Ol Ol2 while Ere
neglected al rs. OF tnc Changers Rock Island was
the most attractive in fluctuations between 52U9la0
92l2 ANA 81 09l %. 81. PAM common light trading
dropped from 19i tp l.l20ls1s but the preferred
more active at 49s d49l2 q sl20l 1873 o the North
Westerns the banks AMI bankers who hold them
as collateral seem. 10 Prove 10 more successinl
manipulatois than did the original UagV. The irioe5
up To -O"-d ZUU-Oas lOl the common ana 4J'0 a2
li for toe preferred, hu tuc trading vnt interest "a
fiDcd D. scaut 30 has been at any time Western
Union played 1s accustomed part to-day, and r toe en-
G340Gi TO U2 0GZ7s. Pacific Mail was nrhyr at 2-7@
-{lt uu q uuls.cd statement that the company uld
sole lts property at Hong Kong for 100000. When
TINS COMPANY sold Its property ga Yokohama wear
and half SINCE stock ruling about 40. which
suggests the query what it Doe when iis last asset
bias been disposed OF. The LXprcs,es we're al higher
with sales OF moment
TAc sales ut ie last cail3.15 p mof the open board
Wvic; -vo Central ann Hudson, SO rs; 900 l.1s. ,ot'
JIA: 200 Michigan Central, J-2; 100 Erie, 1i0 49,
300 Ruck I,lf 81. 9l D.; TOO -. PAM preferred, @s;
900 Northwestern preferred. 4l2G 4t"7; 200 delaware
Ld,ka wanna aud Western, 81 T.; a0l d. aware ana -Hi
41'- 6Ju NeW-Jer,ey Central $3.50; 300 western
Union, o27s; 900 Pacific Mail, 21ls @-J aud TlJuOJo
. gold. lu1.
R,NGE of rHE N,REUr AT THE STOCK EXCHANGE.