The New York herald., 1878-12-20
The Stock Market Fairly Ac-
tive and Steady.
GOLD 100 1882 A 100 3-64.
Government Bonds Weaker, States Lower
and Railroads Strong.
MONEY ON CALL 4 A 7 PER CENT.
WALL STREET,

r..
The Stock Exchange this morning was chiefly re.
markable for intense dulness and the absence Of
all exciting rumors. day Of this description not
infrequently drops in at the heels Of preceding
activity and in nine out Of ten proves to be
the advance courier OF new and vigorous specula-
tion Time to take breath Is as necessary to the
operator struggling with stocks Us TO the puglst in
twenty-oot ring. for without it there is little chance
of obtaining that desirable second wind" which is
"sine qua non" both in finance and fsticuffs. For
this or some other equally cogent reason prime
speculators kept out Of the arena to-day and
values pretty much left to make them
selves. 1t naturally happened therefore. that
business greatly restricted. with prices irregular
and in most lower. Transactions were chiefly
confined 10 Lake Shore, Western Union and the
coal stocks with the grangcrs following next III order
Lake Shore remains an unsolvable puzzle. The best
guessers In the Board fault and Offer salts
factory explanation as to why II hangs hre when the
rest OF the list goes up like rocket or why the point
Of ''70" offers such insurmountable obstacle.
Certainly the stock reaching these figures there is
horde of sellers who come down like wolf on the
fold and play the mischief generally. OF course, of
these financial Assyrians popular rumor points to
either Vanderbilt Gould or Keene as the destroyer
en- c II not one it is the other. In most cases the
malice prepense is shouldered upon Mr. Vanderbilt.
to look Thus. for several days past the
brokerage house which acts as agent for the
road and is supposed to be In Mr.. vandcrbilt's
condolences has been free seller of the Lake Shore
stock and ~ Q natural consequence the price has
been weak and sckly. the belief in respectable div
dend shaken and oil faith in the good accounts Of
the road materially damaged. This is probably just
what sought to be attained and though three per
cent dividend will almost surely be declared to-mor-
row and respectable surplus shown there were as
many unbelieving Thomases at the end of the day
at the beginning. Another stock to decline was
Western Union. and with reason. for its market
value. bolstered up to inflated figures by the romantic
hopes of improbable dividends, has not yet sunk
back to where it belongs, while from all accounts.
the Colgate suit for damages illegal Of patent
is daily assuming more threatening shape. Among
the few strong stocks upon the list Michigan
Central, the price advancing from 70 to 70T and
closing ut 70A. There is likewise dividend agita-
tion in this security. the prevailing belief being that
two per cent will be declared and enough left to pay
of the dividend borrowed on the last occasion The
anthracite fancies also ranged themselves upon the
strong side of the market and, by doing so. much
perplexed the BEARS who reconcile their frm-
with the tumble in coal and the foggy prospect
of new combination. Rock Island was less strong
than yesterday the bulls beginning to discover Il at
they rather prcciptate in their notions TO
additional issue Of scrip or stock. New Jersey Gen.
trail declined per cent holders not seeing their way
quite clearly TO Baltimore and the West as they
did yesterday. while the grangers depressed in
turn rather from neglect than any other reason
Money again temporarily pinched up to per
cent but closed at per cent
The opening. highest lowest and closing prices Of
gold and stocks at the New York Stock Exchange to-
day were as follows:-