The New York herald., 1877-10-10
The Stock Market Active and Strong
at the Close.
GOLD 1O2 1-2 A 1O2 5-8.
Government Bonds Firm, States Dull and
Railroads Steady.
MONEY ON CALL ACTIVE AT 7 PER CENT.
WALL STREET,


Tho tog which had begun to settle down upon the
market at the close yesterday rather thIckcned than
lessened in the early morning hours. and materially
interfered with the progress OF the bull movement
In consequence there occurred material decline In
che whole list, and prices drfted back with the tide
which was setting against them The present condi-
lion Of speculation, however, does not admit Of .
waiting for either time tide, but necesstates push
Ing ahead though fog horn be mute and lead line
snarled Accordingly Michigan Central was hit upon
as likely craft to show the way, and, under the
pressure Of CANVAS which tho bulls piled on, made
an advance of over per cent before the hrst
hour had passed. Following the loader, tho re-
mainder Of the active list sailed in the wake
and better prices rule before noon. Shortly
aIter however, the iavoring winds began die out,
and thereupon quotations weakened prices Of the
leading stocks iell off, reducing, among the number,
Lake Shore TO 7O7s and Erie 10 Il The experiment
with Michigan Central proving not altogether satis-
iactory, recourse had Western Union as being
The next available STOCK both the steadness
which It has recently displayed aud from the fact
something to DO said in its favor This ''some-
hing TOOK tho shape OF report that the election
Tor directors tomorrow Mr.Gould's chance for a
was Of the smmcst Description and that between tho
Two stools offered by the recently rival companies he
was likely to come comfortably to the ground.
sufficient Of itsolf far his connection
with . speculation goes, to improve its market value
and attract buyers for the same. Supplementary to
h.s came revival Of the old story that proposition
would be made to distribute the shares held by the
company IN q pro rata way among the stockholders
Although it may have had some effect upon buyers
cannot learn that such step contemplated by
the company, and It's suggestion 10 mainly duo the
hopes OF such holders, with whom the father
the thought Erie having fallen IA late in the day.
advanced x per cent. There q talk Of o new re-
ceiver in place OF Mr. Joweit. and this the basis
Of "anything for change: appears TO be the
chief reason for the late activity. Coal stocks
vbrated between the limits of two points
in matter OF quotations, and ended about
midway between the highest and lowest A new CIR
cular was issued this afternoon by Pennsylvania
Coal Company, which marks down tho prices of coal
fifty cents per ton below the figures OF the Lehigh
aud Wilkesbarre Company, a. lately announced, and
the same amount below the prevailing rates Of the
Reading Railroad. Thus we have disclosed US an
other wrinkle In the face Of the ssgrim vsaged war;
which is threatening the coal companies, and one
which bids fair to cheaper their product degree
winch has been previously unknown. Money on call
ruled from TO per cent, with the larger business
done at the higher figure. The stiffness In the rate
already intmidaes small Dealers and reluctance to
former freedom is sufficiently marked.
HIGHEST LOWEST.
The following were the highest and lowest prices OF