The New York herald., 1878-03-23
FINANCIAL and COMMERCIAL.
The Stock Market Active
and Fever:sh.
GOLD 1O1 1-S A 1Ol.
Government Bonds Firm, States Steady
and Railroads Quiet.
Money on Call Easy at 4 a 1-2
8 Per Cent.
WALL STREET,


Tho very decided strength OF the anthracite stocks
has been the prominent feature OF to-days market.
NOBODY knows precisely why they should bo stronger
but the TACT exists nevertheless. Certainly there Is
NO Improvement In the condition OF the coal trade,
and consequently nothing to better the prospects
the companies. Loaning rates easier tor the Dor.
rover, and there is evidence that twist OF The
short interest is even contemplated. II is true that
the combination has marked up tho price OF coal
some twenty-nv cents per ton but II nconsider-
able has been potent advance tho price
OF shares by tour Ave per cent, why not havc
capped on fifty cents or a dollar more and sent tho
STOCKS 'kiteing?" The solution OF the matter will
come In due tme and with II the revelation
that the advance Is nothing better than
speculative sham, which, indeed everybody
believes IL to be- While the coal absorbed
the strength OF the days business Lako Shore
yielded lis own. II was financial repetition Of the
old story OF Samson ana Delilah with Lake Shore
Hlng the role of the cropped party That this stock
has been pretty 'roughly and persstently shorn Of
Its strength demonstrated by the drop its value.
Who the sheurers be Is n matter OF conjecture,
while the STOCK itself. being dumb sheep conveys
no intimaton. the popular impression is that Mr..
kcene has "sloped'-Psclhcally il possible, aggres-
Bvey II must at any rate that no has, in tho patoss
d the street, 'cut, run, skipped or waltzcd' out Of
his Lake Shore holdings to his comfort II not 10
that of the creduous who been tracted by
bg prices and bigger promises. II is by
certain that these latter individuals big fools
they look under the unbecomng ght of lower quo
taons for we have had occasion to write before,
tho earnings OF the road have been eminenty salts
factory. the outlook for the summer dividend Is
moro promising Tor three than for two per cent AS
Vas intimated yesterday this column tho street
was rather precip,ate in conslrning the legal dec
fions IN the Erie salts as favorable to stock oders
Tns morning the leaning Of the Court McHenry ward
taken to be antagonistic. and the price receded
from II at the close yesterd 10S ut the close
to-day. The whole matter mixed ut the best, and
talent Inferior TO that of Philadelphia lawyer Is
competent 10 cope with tho dillculties which
surround it, Pac nc Mail, after Its periodical
cursIop, has come TO anchor in quiet spec
uative and shallow watcr-deep enough,
however to float the shell which remains OF
lis former prosperity. Western Union renamed
steady and eeected. 1t IS understood that the Ben.
edict SUIT Will rot De pressed at present. and indeed
II Is probable that 1t intended to bc pressed
Asa de guerre, which may he prof able OF good
results after the Atlantic and Pacific election, may
have been wise thing TO have put in motion. The
Wisconsin stocks simply held between the limits
Of one per cent and effort made to force them
up down. They closed as did The rest OF the mar.
ket about midway between highest and lowest points
aud without noticeable features.
OPENING fRICEs.
The opening prices OF stocks at the Board to-day
wcrc us fo,lows-New York Central, 1853; Harlem,
las; Ere. IL; Lake Shore, "a; Wabash l54; North
western, AK do preferred. 694; Rock Island, 1927
Milwaukee ana 81. Paul, 4oa; do. preferred, 721a
Pittsburg, 70; Delaware, Lackawanna and Western,
blA Delaware and Hudson Canal, 81; Morris and
Essex 744; Michigan Central. 63}4; Illinois Central
751s; Union Pacific. 72lS Ohio and Mississippi. So;
Western Union, 59h Atlantic and Pacific Telegraph,
T95s; Pacllo Mail, 1874
CLOSING QUOTATIONS..