The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-16
The Stock Market Dull and
Weak.
GOLD STEADY AT 100 IL.
Government Bonds Firm, States Steady
and Railroads Irregular.
WALL STREET,

MONDAY, July l5-0 p. Ml
Tho speculative juice having been pretty well
squeezed out OF Lake Shore, leaving nothing but an
Improbable Rad, stock Exchange people havc been
forced 10 aoout for something that Will offer
more favorable chance Tor earning penny, honest or
otherwise. From the course OF events It would ap-
near lat the ST. Paul stocks esteemed likely TO
afford profitable placer and all hands have already
set 10 work panning out tho profits. These, for
day past, have been yielded ny reversing tho
previous course Of speculation and making dead sot
ut values through the medium OF bear RAID and Tree
sales OF lons stock The latter, as~evcr happens
contingent upon the former, and the two together
were suggested aud encouraged by dismal stories
of irrcmcdiablo injury 10 Tho corn crop
along the line OF Inc road. IL is reported
that the recent violent wind and rain storms have
seriously beaten down ana otherwise damaged tho
growing corn and conciusien Is at once jumped at
that the earnings line Will suffer in proportion.
This concusio however, hcro reason TO believe 10
u lame and impOtent ono and not borne Out ~ the
facts which, Invested OF the bear anmus, CONSIDER
ably mod,y the reports OF the damage done. Never
theless The unfavorabe impression mado upon values
was serious, the price OF the common stock falling
morning from 53 10 81 X and that OF the preferred
from S3s 70 S25s. at whicn latter figures hnal sales
wers made.
The STOCK was further discredited by . belief that
Mr. Keene who was considered firm FRIEND
OF tho property, had lost faith, ana what
was worse, had shown that he had lost
1t by an extensive marketing OF shares.
bad name applied 10 ST Paul was inierent'ally to
suggest unpleasant ep,thets for It's Northwestern
neghDor this stock suffered also on the Grcddes
ambo principle tho extent Of one per cent loss
whicn it had not recovered at gong sound Lake
Shore IN point OF interest," was dismissed 10 the BACK
benches speculation for reasons given, and failed TO
4 nf han IN
such as were encompassed between the figures OF 81
and 62s/ the former being the bidding price At the
c,ose In Delaware ana Lsckawanna a large business
was one house alone, 1t Is said having pur.
chased TO- 900 shares between coz and 81 r.
There was suspicion that tho money received
from the ST. Paul shares went toward Inc Delaware
and Lackawanna and that good part Of the
Joint TRANSACTION was in the nature OF SWAP
In other stocks dealiogs were small aud without ins
terest or material change IN figures the spirit Of
s,ock uxmol,ag. Ike measles In q large family, 10
hardly SUFFICIENT at this season OF tho year 70 50 'ns
rounds of Tho entire stock ist and consequently ac'
t,vtv is confined 10 lew specaities, wh'lo the ro'
a,nder are permitted lie IDLE. This Is likely u
continue until there be let up tAe temperature OF
until the great operators finding their mouths water.
ing for their accustomed speculative mes maze then
reappearance tho market
opaxIxG PRICES
The opening prices Of stocks ut the Board eo-oay
vor. a. to,iows:-New York Central, 1904; Erie.
1s,s: Lake shore, 6sH; Wabash, 1SA; NorthwesserH,
.,n. Northwestern preferred, 70; Milwaukee aud St
p.nl. 52lS: Milwaukee and ST Paul preferred, 1874
P,,,sburg, s2x: Delaware, Lackawanna and Western,
aox. Now Jersey Central, Al: Delaware and Hudson
Canal 5sx; Morris and Essex, SAX; Michigan Gen.
,,., s7x: Illinois Central ss4; Union Pacific, 62h
chicago. Burlington and QUINCY, 1l2X; Chicago and
A,,ou so,.; c. Z. aud Indiana Central ~; OHIO ana
M,.s,ssippi, TX; Western Union, 9oH; Pacac As'1
TX. x o,,or.r,or,