The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-11
FINANCIAL and COMMERCIAL.
The Stock Market Less Ac-
tive and Lower.
GOLD 100 ga A 100 5-8.
Government Bonds Weak, States Dull and
Railroads Irregular.
. NJ az q
GOLD 100 ga A 100 5-8.
Money on Call Active at g a z
Per Cent.
WALL STREET,

WEDNEepAf, Aprli NO r. n
II has BEEN uphill work for the bulls on Changs
day, and downhi work for pretty much every kind Of
speculative properly aclis descensus" OF course,
rs 10 always tie case with that has mother
public bears 10 sustain IT. Shortly after the
opening prices began to slip quietly A. first, more
rapidly aitsrward. and with something approaching
= plunge before the close. happily the pace ex
hausted the motive power, and the decline was
checked before material damage was done. Never
thsless such was experienced was sufficient to re-
ouce values from 10 per cent, and TO leave the
market vt the close In decidedly uncertain and fever
ish state. the action OF the Senate yesterday In
passing the Union Pacific Sinking Fund bill
regarded very thoroughly bottling up Mr..
Gould, and q vague alarm prevailed that the
event might lead to free sales Of North
western common on his part and an andonment Of
The effort TO control the election. The reasoning Is
certainly not very logical for II would seem that II
rs per cont Of the Union Pacific net earnings
be diverted from It's treasury the part OF wisdom
would be TO acquire enough additional facilities
store them. Hswbeit the defeat OF Gould taken
10 imply weakness IN the Northwestern movement
and shares pressed tor sale at loss OF TX per
the days business The good bull manners Of
The rest Of the list quickly corrupted by the evil
communication thus Afforded Thorn, and tho business
OF manufacturing lower prices became the occupation
OF everybody for tho rest Of the day. Lake shore,
tho grangers and The anthrscites unhappy
together 10 about The same degree, and even
the gossamers lost more than they could afford
under the present condition OF their
quotations Thus. Ohios dropped back 10 l0k.
Pacific Mail from 2oA 10 17I-the latter property,
however, Is famous for having screws oosc ana prob
ably now one was reported to-day So far we have
mentioned but one cause tor the decline, that
The most important one Shortly after midday tele-
gram from Baltimore announced that the Baltimore
and Ohio Railroad Company had passed It's dividend.
subsequently il became known that the cash dividend
had been passed, but that scrip dividend OF per
bad been made In lieu Of It. The correction
sufficient TO check the downward impetus 10 the
ket which mad been created BY the error, bu.
WA not strong enough 70 rally the market
Ut the close The two circumstances alluded 10,
falling upon q market which naturally depressed
by the gloomy weather, have reversed tho OF
speculation Tor the moment. bat there
believe that the decline Ill be either
lasting.
OPENING PRICES.
The opening prices Of stocks At the Board to-day
wero:-New York Central, lo6x; Erie. llh; Lake
Shore, eoH; Wabash, l9k; Northwestern, 4oK;
DO preferred, 72,1; Rock Island, lo2k; Milwaukee
and ST. Paul. 461; do preferred, Tx; Delaware,
Lackawanns and Western, b4H; Now Jersey Central,
l6x; Delaware and Hudson Canal, So; Morris and
.Esssx, Tx; Michigan Central, 6Sk; Union Pacific,
IS; Chicago, Burlington and Quincy. l03; Chicago
ana Alton, Tax; Hannibal and ST. Joseph, llX; do.
preferred, 26k; Ohio and Mississippi, IL; Western
Union, s2h; Pacific Mail, COX.
CLosIxG QUOTATIONS..
The following were the closing quotations AZ three