The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-04
The Stock Market Dull and
Steady.
GOLD STEADY AT 100 3-S.
government Bonds Firm, States Dull and
Railroads Strong.
money on Cali Very Easy at 4 a
3 2 1-2 Per Cent.
WALL STRICT,


Al the old. fashioned old country fairs possessed
within themselves every variety Of show that could
appeal to aud capture tho bucolic taste, does the
sock market spread its alurements before the Anan-
cia codpoie whose arrivalin the market IL earnestly
ana increasingly expected II 10 TO DO feared, how
evsr that the managers Of the modern financial fair
- not handle their public nearly deity as did
sney OF Dublin aud Greenwich In years gone by, Tor
shsy exhibit proneness to let things fall into conu
sion and work INTO an alarming snari at the very
mont that they should be made to appear most pleas
ant Thus the other day large contingent OF tho
public certainly stood with eye seriously regard
Mg the propriety OF venturing in, while there
wAver in the other oye which showed how little there
was to prevent q complete and binocular agreement
upon this point, whom hey, presto somebody bon-
dcrs, cheats or cuts and runs-tho market turns
sopsy turvy, and the public withdrawing It's blnocu
lar, shuts II up with snap. and leaves for parts
known. Thus the pulling and hauling In Lake Shore
and The grangers has created feverish and change
able speculation which appears to DO directed rather
by the whims Of individual traders than by any well
defined plans upon the part OF cliques. Such beng
The casc it was evident at the opening this morning
that the market would have take care Of tsef--a
nursing process which brought about nothing moro
satisfactory than session OF complete dulness The
election having boon conceded to Mr.. Gould, In the
the usual sharp craving for shares was
q, longer visible; the temptation to enter into
Tho speculation tor the legitimate purposes OF
Investment being considered q dangerous venture
INTO tho region OF fancy figures As for Lake Shore,
It'd uncertainty sufficient under ordinary crcum-
Stances to have checked its activity probably this
v'ry reason IL was the most active the list
Tho annual report Of the company has been In
measure disappointment In that tho probability OF
per cent dividend been reduced scarcely the
tv nj vhsrho tuao to
scaled down by Board room bets still simmer ne-
uros Dealers upon the long side also rendered
tmid by numberiess reports, more or lcss tnc:ured
with TRUTH as to present earnings and future pros
poets. Mr.. Vanderbilt credited with being large
seller, comparative earnings are known to be less
and lake competition 10 made the most Of by
tho bears TO throw cold water upon the situation.
Tho recent drop Of Avc points In Wabash Is fully
planned by tho legal action brought against the
pany, which taxes the shape OF enjoinng payment
upon certain classes OF bonds and of applying Tor
receiver The general opinion is that Wabash. in Its
efforts reorganization, has promised more than
is able to perform, and hence the present snarl,
which probably can be only disentanged through the
process OF fresh reconstruction As proof Of this
II is confidently stated that the company forced
TO have 10 money lenders tor money where
with to pay the February Interest Michigan Central
received degree OF attention In view OF the APP
preaching election. Tho market closed armly.
siderable strength being lent to It from the belief that
Nj. Keene was quiet and persistent purchaser Of
Lake Shore.
3 OPENING PRICES.
Tho opening prices Of stocks At the Board to-day
were follows:-New York Central, lo6k; Erie,
l2X; Lako Shore. 63; Wabash. l5k; North western,
S1 40 preferred, 70; Milwaukee and 81. Paul, 495S
To- preferred, 73I; pittsburg, 75A; Delaware,
lack AVA ma and Western SAY: Now Jersey Central
Iii Delaware and Hudson Canal, 53As; Morris and
Essex. 7sjl; Michigan Contra 7oh Illinois Central,
,ek; Union Pacific, 6sx; Chicago, Burlington and
Quincy, 103;. Ohio and Missssippi SH; Western
Union, BY; Atlantic and Pacific Telegraph, 22k;
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