The New York herald., 1878-01-10
FINANCIAL And COMMERCIAL.
The Stock Market Unsettled, but
Steady at the Close.
GOLD lO2 l-2 A lQ2 5-S A lO2 IL.
Government Bonds Higher, States Dull and
Railroads Strong.
GOLD lO2 l-2 A lQ2 5-S A 1902 IL.
Money on Call Easy at g a 7
Per Cent.
WALL STREET.
WEDNESDAY, Jan. &c p. II.

WEDNESDAY, Jan. W +. N.
Tho stock market opened this morning more grue.
some than eleesome, In spite OF me strong appear.
-oncc which it had assumed last evening" and during
the first hour prices heavy and lower. Before
noon however, all this changed, tho market
around with tho coerty of shit of wind, and
the financial barometer recorded rise in prices and
prospects OF clearing weather right through tho list
How long this favorable state Of things might have
lasted is impossible 10 say; II sufficient to know
that It did not last much beyond noon and that the
whole bull speculation for tho time being knocked
into cooked hat, to speak, by the advent OF
eral iortuitous and unlocked Tor occurrences Prom-
nent among these was foreign telegram that Turkey
and Russia likely to arrange for armistico,
Ing which bird and bear would have opportunity to
contemplate other with better chances of future
reconciliation than through the prevailing medium OF
cannon smoke aud cold steel. However, desirable
restoration OF peace would be to the contending Pow
and rest OF Europe considered here.
Carnage is lear rll thing TO contem plateso Is corn
without market, and, IN tho mercenary light Of
lars and CENTS the latter has the moro dreadful aspect
of tho two Consequently tho baro chance OF the bel
lgercns stopping tho cutting OF each others hroats
and beating their swords into ploug hares had do.
pressing effect upon the grain carrying railroads. and
was accepted as very uncivil disregard ofthe'agr-
cultural interests Of this country, to say the OF
it. More potont however, than the arinstico rumor
were reports of failures among the large sugar REIN
ing houses and the evils entailed upon firms that
thought to be holders OF their paper The report re
ceived the usual additions and orn amcn tation which
attach 10 stories of this kind. but as on
examination the matter appears 10 be founded
upon the three black crows order Of rather
than upon facts, follow the example Of tho Speaker
OF the House OF Commons aud refrain from "naming
names' at present. To cap the climax Of these evil
tidings, the Board was treated to regular
'bouncer," In the shape Of story that enormous
dcfacaton had been detected In largo Institution.
Although It was u mere skeleton rumor--tac origi.
nators having failed TO 6ll in ether tho Of the
deiaulter, the title Of the company or tho amount
stocnit nevertheless had certain effect and added
10 tho existing depression. To sum up, the effect OF
all these stories create sharp selling move
ment which quickly lowered prices from n 20 Ia per
was checked and slight rally created, upon which
nnd generally feverish market, final transactions
were made.
OPENING PRICES.
The opening prices of active stocks at the Board
day were as folows:-New York Central, 1917 Har-
lem. l42 Erie, s1S; Lake Shore, 63I; Wabash, 17I4;
Northwestern, 37k; Northwestern preferred, 634;
Rock Island. 100H; Milwaukee and ST. Paul, 3Sil;
Milwaukee and ST. Paul prcforred, 49, Delaware,
Lackawanna and Western, 491a; New Jersey Central,
IAN; Delaware and Hudson Canal, as; Morris and
Essex, "a; Michigan Central 61h: Illinois Central,
"a; Union Pacific, 674; Chicago and Alton, 7gs6; c..
Z. and l. G., az; Hannibal and St Joseph preferred
o5i<; Western Union, T7,s.
CIO ouO lTroys