The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-27
FINANCIAL and COMMERCIAL.
The Stock Market Active
and Lower.
GOLD 100 A 100 1874.
Government Bonds Quiet States Dull
and Railroads Steady

WALL STREET, |
THURSDAY, Dec. 26-U p. M. !

THURSDAY Dec. 26-G MI
What Charles Lamb calls the ssholiday rejoicing
spirit" does not appear to have seriously impaired
the capacity of stock operators for work this morn
ing. judging by the sprightness of the market and
the activity of its fluctuations. Although specula-
ton diverted into channels there was con-
siderable tide-way in the old ones. and for most Of
the day it ran ebb. Commencing with the closing
prices of Tuesday the antemeridian figures became
generally of improved calibre, and this espe
cially true of the Northwesterns Erie Lake Shore
and Western Union. After midday shrinkage set
in and with few exceptions the lowest prices of the
day were made at the close The small operators.
which hover like moths about the shining lights
OF finance and usually meet like fate with that
which befas the lepidopterous smilitude Of insect
le beginning to worry about the evident hitch in
the Northwestern progress, and anxious to know
what the leaders in the movement arc going to do
abou.it There certainly appears to be some reason
for being inqusitive seeing that the highest figures
made on Monday have not since been exceeded, and
that finishing quotations to-day less by per
cent for the common stock. and fractionally lower
for the preferred. As setof to this fact however
the large holders are chirpy ever. and If the
small holders decline to accept fair words salts
factory butter to the parsnips which they carry
Ing in the shape Of long stock 1t Is certainly not the
fault of the former. More solid encouragement Is
to be found however, in the statement of earnings
for the first two days Of the fourth week Of Deem
Der. the being $4,000 in Of
last year. There lively passages in
the Erie speculation to-day. both Of crescendo and
diminuendo description. the price having first ad-
vanced per cent and aferward receded about the
same amount Appearances were that the market
had been stened to sell Ordinarily it is requisite
to juggle with both the London and New York mar
kets, but there being close holiday upon the former
to-day it was only necessary to advance the homo
one. which was done without the risk of being COM
PEELED to purchase English stock. The coup was
rather successful one, though the English holders
from not being able to avail themselves Of the oppor
tunity to sell will probably regard it with different
feelings. Probably something Of the same s.smart-
ness influenced the Jersey Central movement. the
stock being made to sell up to SO and down to 31k
though the doubts that the Board Of Control
at their meeting tomorrow will be able to
effect anything favorable toward continu-
Of the combination tended to further
depress the stock For this latter reason Delaware
and Lackawanna also fell off more than per cent
while Delaware and Hudson remained barely steady.
There very little change and very little doing in
any of the Vanderbilt properties. We understand
that an English steamship company has been formed
with feet Of ten vessels to form direct connec-
ton between the Central and Hudson River Railroad
Company's terminus in this city and ports in Great
Britain. and that such arrangements have been made
between the two parties will shortly secure to
these steamers the entire shipments of the Central
road As arrangement of this kind should secure
to this port such freightage is diverted to
Boston it may be regarded as affording favorable
addition to the business Of this city.
The opening. highest. lowest and closing prices
Of stocks at the New York Stock Exchange