The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-01
FINANCIAL AND COMMERCIAL.
The Stock Market Very Ac-
tive and FeVerish.
MONEY ON CALL A 2 PER CENT.
Government Bonds Firm. States Dull
and Railroads Quiet.
MONEY ON CALL A 2 PER CENT.
GOLD UNCHANGED.
WALL STREET,

WALL STREET,
WEDNESDAY. July 3l-s6 p. N.
Business atthe Stock Board this morning was rep
resented by dealings rapid fluctuations
rhe excitement OF the last two days, however. had
measurably simmered aowh default the announce
ment OF failures and the absence OF disturbing rumors
Adownward plunge OF prices at the opening succeeded
by an upward u second dip and second rally
previous to the close the chief characteristics OF
the session. 1t remains 10 be seen whether the mar
ket, like drowning swimmer, will sink away for the
third and fatally last time tomorrow, or whether tho
rally at the end may prove the agent OF
successful roscus. The process OF liquidation
Is undoubtedly nearly completed. and there
we're strong evidences this afternoon that The
bears were eager covsrers OF shors contracts.
The market opened with gust which In few min
utes Frustrated prices from to ~ per cent ths lat
ter NeSthwe common) and bid fair TO create as great
havoc with bulls bank balances as has the weather
with Western crops. II was OF short durasion now
Iver the skies clearing quickly and the dsy ending,
barring q few passing clouds In the interim, quite
sunny and serene. In TACT about threeourths OF the
decline from opening prices was recovered from. and
In solitary OF Lake Shore and Della
ware and Lackawanna a fractional gain was made.
The strength OF Lake shore SSH puzzles the market
In spite the adverse circumstances with which It
has had contend the controlling party In the stock
II temporarily weakening, has never lost its grip, and
to-day has even tightened it. 1t Is probable, toe,
that tho position Of the stock regards future adj
vance has been rather improved than injured, seeing
that and important short interest has been
created, thus forming valuable point dappni 10Y an
upward move which did not exist before the granger
breakdown. Delaware and Lackawanna recorded
better figures at the ond by per cent The monthly
coal sale this morning brought prices fully equal to
those OF the previous ono, and these impaired some
hrmness while the stubborn belief Of the friends Of
The In coal millennium at NO distant day,
and fact that bulls in the stock for fear OF breaking
prices compelled hold on whether or no. At once
contributed render the both steady and dull
Changes in other properties we're moderate and SYM
In the general revival at the close.
PRICES
The first sales OF stocks ut the Board yesterday
showed advance the closing quotations OF the
previous day OF q to per cent as follows:-Nsw
Jersey Central sold n higher at 37K Western Union,
n higher, at s2K; Pacific Mail. y higher, at 16A;
Eric, u higher. at 1s1S; Rock Island. 4 higher at
H.; Chicago and Northwestern, u higher, at 37X;
Lake Shore, q higher, at 62l& lew, however, sold
NJ a decns. ST Pau common opened q lower, at
81; Chicago and Northwestern, = lower, at 69X |;
Union Pacific, Il lower, at 61T; Delaware, Lacka-
wanna and Western, n lower, At 571; Morris and
Essex. l lower. at 81. Other speculative stocks
opened at the closing figures OF Tuesday:-St. Paul
preferred. 72A; Michigan Central, Ga; Delaware and
Hudson, 64X. and ohios, TX.
HIGHEST
fcuo tNa htgha and lnwo af