The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-06-12
The Stock Market Fairly Ac.
tive and FeVerieh.
GOLD 100 7-e A 1o1.
Government Bonds Firm. States Strong
and Railroads Quiet.
MONEY ON CALL 2 IL A 8 PER CENT
WALL sTRwEr. I
~ n ID n

TUESDAY. June 1l-6P. ID.
Somebody pulled the spigot OF the Lake Shore
speculation this mornings givlngvent to free how Of
shares, ana, as a sequence thoroughly dampng the
rest OF the market. The mystery which has SO long
hung about this stock hangs about II still, and eada
to conjecturss to what all this back
ing and filing in market price may mean. Idle
brokers, who, for want Of something better to dc,
keep watch and ward over the dotngs oftheir ouser
brethren report that the bow window people covered
shorts largely yesterday ut about 65 and rcsod
again to-day AZ one per cent lower fgurez This was
taken as evidence that something now was "up." but
what tho elevation consisted In they were unable ia
say. At tho time TWO per cent was bid for the
dividend expected next month, and several thou
sand shares were bought and sold at this hgurey
thereby aYording pretty index that speculative
opinion is all adrlit upon this point also. The most
likely explanation seems to be that the break in Lake
Shore to-day was simply . bear-bxiting arrangement
executed for the purpose OF capturing
q fresh lot OF ursino innocsntg. Nevertheless Ina
lowest prices, within q traction, were made as the
close, SO the theory may have its weak points afser
ALL Although Lake Shore absor ped the maximum OF
transactions there was fair amount Of business
distributed among the other active stocks at slightly
decreased figures Western Union obtained Its full
share, through sem, official declaration that tho
quarterly report would snow earnings equal to 2A
inc amount due Tor purchase OF Atlantic and
Pacific stock would be reduced to about 100000.
Michigan Central unusually active, and though 1t
lost point in the days business . hot tavorite
with the bulls ut the close. On the Oath inst The
annual election will be hcd, aud u open scores
that the property Will then under the control Of
Mrvanderbil Great faith placed In this gcntiemans
ability 10 resusc,tate the property particularly II
be true as stated entanglng alliances In the
shape OF leased been got rid OF or straight
encd satisfactory shape In Eric there was less
dong, and at lower figures The policy shop Afforded
by the London market being closed by reason Of the
Wnitsuntide holidays the spectators At home were
forced 10 play their sshorscs and gigs" among them
sclves which they with indifferent success. The
railway managers wsre TO have met this afternoon
10 take in subject OF eastern bound
freight, tho previous contract expiring to-day BY
limitation. 1t IL generally supposed that effort
viii be made 70 mark up freight charges. with which.
Judging BY the past whole matter will begin and
end. Closing prices measurabIy better than
fairly steady. t-e
the opening prices Of stocks ct the Board to-day
were as foIlows:-Nsw York Central, nix; Erie.
ION; Lake shore, 10; Wabash, 49,; North~ss.ern.
52sS; do. preferred, 76%; Rock Island, ll6k; NIL
wsukes aud ST. Paul, 6lN do. preferred, 79x; Della
ware. Lackaw anna and Western, 6ok; New Jersey
Central, so; Delaware and Hudson Canal 67x; sxor.
r,s and Essex s54; Michigan Central. II cnycago,
Burlington and Quincy, 107; Ohio and Mississippi,
OK; Western Union, s5H; Pacific Mail, 10.
Ex dividend