The New York herald., 1878-12-18
FINANCIAL and COMMERCIAL.
The Stock Market Active and Weak
at the Close.
GOLD 100 Is A 100.
Government Bonds Firm, States Weak
and Railroads Strong.
MONEY 3 IL A 7 A 5 PER CENT.
WALL STREET,

TUESDAY, Dec. l7--6 r. M.
The Latin poet who originated the impershable
sentiment that cart is long and life is short. would
be surprised could he realize how aptly the axiom
fits into the daily existence of spectators Change
Perhaps no other vocation necessitates so great
and tear of bodily and mental faculties the
business of stock gambling; certainly none other.
demands Ito insure success the development of such
high "art The Stock Exchange is never lacking the
presence of Artful Dodger greater less cabre
and Mt the moment Mr. Gould is filling the role with
doxterous agility. 1t is considered "high art" in
speculative circles when operator succeeds in
lmpressng the public with belief that he
is upon one side of the market when
he is actually upon the other. 1t is like
gathering crowd in gaping admiration of one Of
Turner's pictures which is the less productive
OF euloyiun because it happens to be upside down.
In this 'art of mystifying his fellow spectators
Mr.. Gould is q master hand-the Artful Dodger him
SELF referring to his peculiar neof business would
probably advert to him "downy cove" and
downy he ought to be. judging from the thor
ough manner in which he has plucked the street
during the last ten years. The most recent example
OF his artistic skill was afforded to-day An idea was
rcligiously entertained by the majority that Mr..
Gonld had ranged himself upon the bull side Of the
market. and. in accordance Herewith prices opened
with upward burst that promised most
suspicious results. Unfortunately this promise,
like most of those Of a stockjobbing nature,
was broken before it had well been made.
Reaching their meridian ut about the same time that
the sun did. prices eliminated and descending payt
pdssa with the luminary eventually set several
degrees below the points they had risen from 1t
Is needless to say that to Mr.. Gould imputed
this duh ending Of brightly commencing day.
Whether he is long or whether he is short.
whether like Turner's pictures. he is right side up
or upside down, is the mystery which the street is
just now striving to solve. 1t quite clear how
that he was large seller Of stocks this after
noon-probably his purchases Of the last few days
and that quotations seriously affected thereby
The Northwescrns. Lake Shore and the coal carriers
were the greatest sufferers. an additional weight
being imposed upon the two latter properties by
o belief that Mr.. Vanderbilt was free
seller Of the railroad and by the report
that some Of the anthracite companies had made
important reduction In tho schedule price Of coal
In Western Union. also. there . drop Of per
cent from the top figures OF the day. The disappon
ment in regard to the dividends is beginning take
practical shape In bringing long stock to market and
that Congress would shortly take up the SUBJ
jet Of postal telegraphs under government control
did not mend matters Added to these depressing
facts and rumors came . pinch In money. the rate
having been forced mp TO per cent at time
though loans were made Ut per cent at the close
The day was made cvcntful one In tho Gold Room
by the sale Of two lots OF $4,000 each ut par 1t is
popularly accepted unsafe to hurrah until one is
of the woods. but there is every excuse for re-
jocng tho OF this broad streak Of day.
light.
The opening. highest lowest and closing prices OF
stocks and gold at tho New York stock Exchange were
e follows:-