The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-30
FINANCIAL and COMMERCIAL.
An Exciting Day at the Stock
Exchange.
A BREAK IN "THE CHANGERS. T"
Gold Unchanged Government Bonds Quiet
and Railroads Weak.
WALL STREET.

MONDAY, July 29-6 p. n.
To-day has been one OF unusual excitement on the
stock market, with the attending circumstances OF
great transactions and violent Auctuarions. The
far auspices indicated by the strong prices at tho
opening proved 10 altogether deceptive before the
business day was TWO hours old, for that time de-
cline set In which advanced with acceierated speed
and only escaped panic by the closest Of shaves In
TACT the three O'Clock gong which sounded the close
OF business came in the nick OF time and possibly pre-
vented disaster by summarily putting stop to deal
nga AS IL was, the fnai prices were within the vu-
yarss fraction Of being the lowest OF the session.
ana they At tho sumo time recorded most
Berlous decline Tho trouble centred In the
granger shares, where 1t had originated
couple Of weeks back, and from which locality It
has spread injection into the rest OF the list The
differences between the highest and lowest points
touched this morning ~ per cent zach for st.
Paul and preferred OK for each Of the North
Westerns and 2x tor Lake Shore. Other stocks
Mmilarly affected, but to less degree, and more from
sympathy than from any inherent weakness Of their
own. When the dribbling process which has been 60
ing on IN the estern shares for days back became
Buddenly converted a doache this morning 1t
plainly evident that some important loose.
In what part of the speculative machine It had
curred what was the proper cause for the break
down did not clearly appear, though many reasons
ports OF bad weather at the West. which
came frequent enough and gloomy enough TO suggest
DOUBTS TO there being any saved at oil there
were, In addition, sinister intimations that this
that operator was in difficulties land rumor mongers
In citing names few high for their game); and then
WAS what appeared more probable ana reasonable
han either, the belief that large blocks of hypothe
ssted stock mad been thrown upon the market.
there no doubling the volume OF the outpour,
however. or the fact that somebody had boen hurt
leverely. Appearances ut the close OF business
lrpromsing enough to suit tho most acrimonious OF
BEARS tnere nothing In the outlook for to-
row 10 disturb his complacency. The great mass OF
business confined the stocks referred 70, and
lhs sympathetic decline ch attached to tho rest
II the list failed to attract particular attention. The
marriott closed feverish aud altogether weak and
respondent.
TRANSACTIONS AT BOARD.
The total number Of shares dealt In to-day was
A3o7l. These wore distributed mainly among halls
dozen speculative stocks. Shares sold:-Western
Union Telegraph, 1851; New York Central, no;
Erie, 40. 07O; Lake Shore, BAL Union Pacific 200 do
Preferred 100; Northwestern, "a, 3O0 do preferred
40; St Paul, 70 l6S; do. preferred 1900; Wabash.
1850, Ohio, 800; Lackawanna, 1000; Delaware and
Hudson, LOO; Mich gan Central, 400.
OPENING QUOTATIONS.
At the opening OF the Board prices were As fol-
iows:-western Union Telegraph, 931; Pacific Mail,
i6x; New YORK Central. 100; Erie, 1SK; Lake Shore,
BSX; Union Pacific 69H; Illinois Central, IS; Pitts
burg s21; Northwestern, 4511; DO. preferred. 76,s
New Jersey Central, SO; Rock Island, ia: ST. Paul.
~; do. preferred. III; Wabash, 1917; Ohios. TX;
Lackawanno, 81; Morris and Essex. So; Hannibal and
Bt. Joseph IL; do preferred. 26s1; c., g. ana G
az; Delaware and Hudson, 56x; Michigan Central,
s5X; Chicago, Burlington and Quincy, liz; Chicago
ana Alton, 49,