The New York herald., 1878-11-26
The Stock Market Active and
Weak at the Close.
GOLD 100 Is A 100 IA.
Government Bonds Firm, States Steady
and Railroads Strong.
MONEY on CALL EASY AT sAsl-2 PER CENT.
WALL STREET,


Speculation upon the Stock Exchange this morn
Ing may be likened to picnic party which sets for
under clear Skies passes the best of the day under
the most favorable weather and finishes up in u rain
storm. In similar way were prices of stocks at
fected to-day Good at the beginning. best at mid
day and worse at the close. This description in
wolves a horrible manglng Of grammatical compari-
son, but the fact remains true trivet In the
early part Of the day the bull influence para
mount. Scarcely any stock, however obscure, that
could work itself into notice but experienced some
thing Of the bullish feeling which permeated the
leaders Of the list OF these latter Lake Shore the
grangers and Western Union were III the There
advance Of 1n per cent in Northweit It common.
of y per cent in the preferred and ct x to per
cent in the st. Pauls. In keeping with the proverb
the bulls laughed. winners, but later ON, when
prices gave way, they laughed "upon the other side
OF the mouth At the opening this morning prices
were steady and strengthened under the liberal buy
ing of prominent operators. Very plausible, and
from information yery good. reasonS are given for
this demand The Northwest road is said to be doing
well enough not only to insure 3ts per cent div
dcnd upon the preferred stock. but to earn hand
some surplus, which may or may not be divided
among the common stock holders Equally good
counts come from the Lake Shore property which it
is asserted will be able to show net earnings of Az
amount the ''street" has dccreed Gt must be con-
fcssed without consultation with the direcors) that
per cent shall be paid to stockholders and the
balance be set aside toward the payment Of the
succeeding dividend Something more, however.
than reports of favorable earnings are necessary to
sustain tho market when profits on paper invite
reaizations Nothing Of this sort Offering at noon
to-day it considered wise thing to gather such
gains as tho rise had provided, and in the selling
movement which ensucd prices dropped off in most
cases nearly TO opening The decline Of the af-
u per cent in gol;. Not that the additional eighth
TO the premium Of Importance but that there
signs that Mr.. Gould contemplated repetition
of the tactics developed at the time Of the Haar fail
urc, when it sought to advance the price of
gold. tighten money and break stocks. At that time
ulow SOME six weeks ago) it will be remembered
that Mr.. Sherman stepped in and put
quietus upon the whole plot by Offering to pay gold
for bonds without the formay of calling them. and
it is scarcely probable that he will permit repetition
of the attempt ut the present time when resumption
premium at the smalles. fraction Nevertheless the
fear OF tight money. even though artihcally made,
was dsmper upon the market to-day, and the
reczations Of spectators added to the depression.
Consequently prices at the end lower than the
best figures Of the day. though with the exception Of
the coal stocks) they in most cases equal to
opening ones.
The opening. highest lowest and closing prices OF
ytocks and gold at the New York Stock Exchange to-
day were as folloWs:-