The New York herald., 1878-09-11
FINANCIAL and COMMERCIAL,
Stocks More Active and Gen
orally Stronger.
GOLD DOWN TO 100 1-8.
Government Bonds Weaker, States Dull and
Railways Active and lrrcg ular
MONEY ON CALL / IL TO 2 PER CENT.
WALL STREET.,


TUESDAY. Sept 10-6 P. M.
moderately active business distributed to-day
between selling the Vanderbilt stocks for fail
purchasing tho srangers for a riso article ths
Chicago Tribune asserting tho exist OF difficulty
between tho presdcn, of The New York Central and
tho Great Western Railroad Company the head
and front OF the offending far tho Vanderbilt
stocks arc concerned The gst Of the whole matter
is that somebody has been cheating along line Of
tho Michigan Central, Grand TrunK and Great wost-
crn railroads The compact to freight aud passen-
ger rates. soemniy entered into at Saratoga, having
existed tor three weeks what else but rupture could
bo expected after so inordinate an elapse OF time
How much OF truth or faisy there may
be In the reported disruption We ara
not prepared to say; as circulated
rumor, however, it fell with injurious effect both
upon Lake Shore and Michigan Central both OF these
stocks declining seriously under the uniavorabie
news. The grangers. in point OF strength, were IN
strong opposition to the weakness OF the Vanderoits
holding their own they did for most OF Tho day. and
exhibiting particular Hrmness at tho close Tho I'm
preston pre- vailed that Mr.. 1ouo was pcrsistent
buyer tho that hc was an ostcnsioie seller.
This trick tho trade is an old one and unworthy Of
SO old and tried hand. An idiotic report that the
Western Union Company would pass their next divi-
dend weakened the stock. Short sellers upon this
rumor may be classed among those whom the GODS
previous
cnangss In the coal shares which were meaningless,
and q stubborn hrmness In tho rest OF the market,
which expressed belief In better future whothef
tho Vanderbilt school kept not, were the sole and
only characteristics OF an otherwise dull day
Gold sold down to 100H to-day-a decline that may
be directly ascribed 10 Mr. Secretary Sherman's order
- pay out standard silver dollars for grsenbacks.
Tho enec. Is simply send purchasers OF coin for
customs duties SubTreasuries instead Of to the
Gold Room The first market offers the needul at
oneeghlh cheaper than the second, and tnat Is all
there is of It, So bringing the paternal dollar
into circulation tho order is imperative The best
that tho Secretary achieve is to lower the gold
premium and air hts musty silver dollars by an cx.
curs,on from the Treasury through the Custom
Houses and back to tho place OF departure Not ono
dollar is likely into circulation by forco OF the
Sccretarys order Nor clear by what means they
can to enter Into the currepcy OF the coun.
try. Maturing obligations may be paid OIL In the
standard dollar, but new ones will be made with
clear understanding to whether tho debt is to ba
paid IN silver IN god. and the price Will DO made
higher or accordingly pound OF toa which has
cost q gold dollar TO import can be sold at gold
dollar without loss, but cannot bo sold at silver
dollar (takng present bullion value without loss
of twelve cents Consequently two standards VIII be
made-the pound of Tea will only DO obtainable at
100 cents ir gold, or at liz cents silver post
tive imitation OF prices must BIO the direct result,
the silver dollar becomes standard OF vaiues II
would bo curious Gold Room, which Tor so many
years mas expressed the difference between tho gold
dollar ana tho grcenback dollar. should get . now
lease OF HE through being called upon 10 represent
the difference In valuo between the gold dollar and the
now silver dollar. a further thought, admitting thas
gold and greenbacks be brought to an equality OF
value, will the government In the redemption OF tho
nj Tan
s,,vsr or 100 cents IN gold? II tho redemption b
mado dollar for dollar silver for paper, the greenback
Is simply worth the bullion value OF silver in spite Of
,,s apparent contiguity to gold.
RANGE OF VLucTuATIoX
The following the opening highest and lowest
n,,ces Of to-day, With the three r. NJ. closing quota
tiops:- ,.