The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-07

GOLD 100 1-S A 100 IA A 100 Is.
Government Bonds Firm, States Higher and
Railroads Irregular .als
MONEY ON CALL 5 A. 8 IL PER CENT.
WALL STREET.

l1s
The Ave hours of wear and tear to body and mind
which constitute the so-caled days business upon
the Stock Exchange were productive this morning of
very meagre results. both regards the magnitude
OF transactions and the sharpness of fluctuations In
fact. the two three prominent points upon which
speculation has pivoted for week or two back have
been blunted by the events Of yesterday and are no
longer serviceable for speculative purposes Refer
snce is had to the Northwestern dividends. to the
meeting of the coal companies Board Of Control and
to the Convention Of Railway Managers Decisions
more less satisfactory having been arrived
IT by these various interests the lingering
uncertainty which had fostered speculation
ceased to exist. and the market grew dull
and -vapid from withdrawal of the pabu-
lum which had kept it alive. There enough
stamina stored up. however. to give inclination
10 prices either way or the other The official
report Of the Northwestern Railway Company can
not be construed otherwise than being highly
favorable now and most promising for the future
and 1t helped to hold prices firmly to-day In spite OF
vigorous efforts made by the bear party to depress
them. The unanimity expressed by the railroad
managers at the meeting last evening az to pooling
arrangements and the strong safeguards adopted to
prevent any future tampering with freight sched
ules also potent in giving tone to the railway
market. While the grangers. after an interlude of
opened. Lake Shore benefited to the extent Of one
per cent. This. too. despite recurrence OF the
sharp practice Of rigging" quotations. which we
have had occasion more than once to comment upon
The in point happened in this wise - The clos
Ing price Of Lake Shore last evening was 6sa. Moth
Ing occurred during the night to lessen this value
In fact the action of the railroad conference tended
to appreciate tyet at the opening this morning
half dozen brokers charged to offer the stock at
GS4 which done, though there orders present
to purchase at higher rates The trick succeeded how
ever and an official record of sham quotation was
secured, to the -etrment Of holders whose margins
were wiped out and to the dissemination far and wide
of a false value to the stock. While the railroad
meetings worked benefcially that Of the coal
companies Board Of Control worked the reverse
The action taken. or. correctly, the alb
sence Of all action, to the renewal of the
that the monopoly will expire with the
dying year. 1t is understood that the Lehigh
Valley people win stick to their demands for larger
quota and that the other companies will refuse to
concede them. It ia case Of E Paribus Unum
which, being freely rendered, that between the
two stools the combination Ia likely to fall to the
ground. The chance left is that Mr.. Packer may
before the 9th of December surrender his position
and stack arms-to tho best Of our inform alton Mr.
Packer will do nothing of the sort. Closing prices
the general market were nothing to brag of. being
altogether irregular and in most cases only shade
removed from the opening Hf%
The opening, highest lowest and closing prices Of
stocks and gold at the New York Stock Exchange to-
day were as follows:- t.l sa.a .t4l@ EVA. .a....a