The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-31
The Stock Market Opens Active and
'> Weak-ClOses Stronger.
GOLD STILL UNCHANGED.
Government Bonds Dull, States Meg
lected, Railroads Frmer.
WALL STREET, I
TUESDAY. July 800 r. n. (

: }
The decline in the grangerA which had been
brought with round turn at the close OF business
yesterday, broke loose this morning and ratified on
with the celebrity of anchor chain from the cable
locker Of FIRST class yacht II panics were not as
scarce nowadays the Australian dodo and in
manner looked upon as beyond the range OF posi-
bity, the situation to-day AT least strongly sag-
gestive Of something very nearly akin to it. During
the nrst two hours before noon the shares OF both
kinds OF Northwestern and st. Paul stocks were
dumped upon the market with the recklessusss OF
police garbage boats in she Lower Bay, and it was
clearly evident that the necessity OF selling forbade
any stipulation as to the price to be obtained.
Clearer than all was It evident that some
great operator had been pushed to this
extremity by the shrinkage In prices, and was
passing through q nery furnace, scorching to both
t'mselr and his adherents. With his name banded
mouth to mouth, as It was to-day, thore can be
Improperly repeating the street belief that Mr..
Gould has been caught at least temporarily and,
vulgariy speaking, in slight place." II was in the
mir last week that certain loans Of his, effected
pledge OF Union Pacific shares, had been with diff
Guilty renewed, and is certain that calls for further
margins upon borrowed moneys were in Inherently
sponded to to-day In fact easier to sell stocks
than to carry them when money lenders fought shy,
-ud the former, ana very probably the only dernier
resort available at the timo was res0rted
to 10 escape from dilemma which was
certainly pressing and might nave been disastrous
Nine brokers out OF ten believe that Gould was put
upon the dead scamper to-day, and there Is nothing
In the appearance Of things belc the impression.
In tho afternoon the pressure to sell Stacked gradu
Ally and finally stopped altogether Presumably tho
money difficulties, Tor the day at least, had becn
ranged; OF failures there none for trading brok
Drs learned to divide up losses asd the market
had greatly oversod, thereby, giving courage to
veniuresome bulls. In consequence the market first
halted, then turned and finely rallied sufficiently to
restore prices in many instances to nearly the best
figures OF the day. Appearances always dccetiu as
they are) would nevertheless lead to the belief that
the hardpan OF the present decline has been struck
Whether a coming rise may be anticipated is quite
another thing.
STOCK TRANSACTIONS.
The total number OF shares dealt in at the Board
to-day was 2s2, 200, the most active being North
western, 36,460; do. preferred, 27,455; St Paul,
BA075; do preferred. 1880; Erie. 80 325; Lake
Shore, 4l,ol5; Lackawanna, 16 GOO; Western Union.
1850; Union Pacific, i43o; New YORK Central, 725;
Harlem, 200; Pacific Mail, 200; c., c., c. and l., 500
New Jersey Central, 100; Rock leland, 2,415; Wa
bash, 600; Ohios, 1900; Hannibal ana ST. Joseph,
200; New Jersey Southern, 800; Delaware and Hud
son. lO50; NJ. X. r. s., LOU; Michigan Central,
Lsoo; illinois Central. 800; Burlington and Quincy,
bOo st. Louis. Kansas City and Northern. 200; Chi
cago ana Alton, 100; Missouri, Kansas and I. r. 100;
Pitlsburg, 200.
OPENING PRICES.
The following table shows the condition Of the
market at the opening Tho figures In the nrst col
umu show the closing prices OF Monday afternoon
and those in the second column the opening quola-
NOR