The New York herald., 1870-04-27
FINANCIAL and COMMERCIAL.
WALL STREET,

TUESDAY, April 28--6 p. M.
The information from Washington late this after
noon that the House Committee had decided adj
versely upon the Senate Funding bill and were in
consultation on new bill providing for the funding
OF the debt into long bond, running forty to fifty
years. at four per cent had the effect OF once more
starting aresh the speculative sprieof the street.
THE STOCK MARKET STRONG AND ACTIVE.
In the earlier portion of the day there had been
a rather sharp decline in most OF the
railways, particularly in New York Central.
The movement to lower prices was assisted
by the larger operators, who hammered tine market
for che purpose Of buying fresh nstaments Of stocks
as well Of letting IN outside specuators who pro-
missed to buy II the market would react little. The
cliques still holding vast quantities OF stocks,
and by suffering the market to roop to-day brought
In another line OF 'shorrs,n who were induced to
sell on early kilograms tnat the Ways and Means
Committee were about to introduce q new funding
bill IL was not until later In the day they learned
that the proposed substitute for the Senate bill
Is OF such q character as not to interfere with
the natural course OF the markets, as o four
per cent loan will require years OF gradual negotia
ton, even IL such measure should pass the Senate
at all, where 1t would be likely to encounter the
steadfast hostility OF the friends OF Mr.. Boutwell, and
the original scheme In the early business the ex-
Central which advanced to 1861 through efforts OF
the "ring" to buy, and Pacific Mail. which, on the
report OF Postmaster Creswell IN favor OF doubling
the China mail service, took sharp upward turn.
The improvement so frightened the shorts that in
their frantic scramble to cover late In the
afternoon they ran the price up to A. On the other
hand, Erie. on further decline in London, sold
down to 231z Rock Island, on large increase Of
earnings for the past week, advanced to 1l9T In
the reaction on the discovery or the real situation Of
the Funding bill, Ohio and Mississippi ran up to
34A and Lake Shore to e3X. Toward the close OF
business there considerable movement in &C. G..
and l. C,n which advanced to lsk. In the miscela-
neous shares Western Union was strong. The ex-
press stocks were more active at higher prices The
market at the termination Of street business was
firm at the highest prices OF the day, much to the
chagrn of the 'bears," who doubted the capacity
Of the "buls" carry out their proclaimed purpose
OF putting the market as high it went year ago.
The sbus' nave at present all the prestige OF sue.
cess, and tue outside public are falling with them,
despite the warning so often given that when q
"bull" Is most v0ciferous as to his plans he s
secretly doing the reverse Of his announced IN
tentions. But in Wall street 1t is just as easy
to deceive by telling the truth as by telling
untruths; for the sceptcal ''bear" will turn
around and sell ga hundredr on good "bu point.'
The success Of the operators for rise in steadily
bringing fresh "shortn interest at each advance
up the scale Of prices must be accounted for this
ground The following the closing aprices at
the last session OF the Stock Exchange:-Canton, "
IA 73Js; Cumberland 3OA Western Union, S2sS 3ozs
QUICKSILVER, sh bid; Mariposa, a ~; do. pre-
ferred, IA 141S; do, certificates, 42A bid; do,
nst preferred, Al; Pacific Mail, 39lz 39X; Adams
Express. 81 02A; wells-Fargo Express 81 2lI
American Express 3sk 3sal; United states Ex
press, AK a 44M; Merchants Union Express 9 bid
New YORK Central consolidated, 947s 95; do. scrip
90 921s; Harlem, 144s las; do. preferred las bid
Erie 239l Reading 1905 1o0al; Michigan Central,
125 l26; Lake Shore, 92% 027s Illinois Central,
1873 142; Cleveland and Pittsburg, los 1867; Chi
cago and Northwestern, 76H 765z; do. preferred,
S74 a S72s; Cleveland, Columbus and Cincinnati,
Tx 70; Rock Island, 11sa4 119; Milwaukee and
st. Paul. 612s 81; do. preferred, 761s 76A; To-
ledo and wabash, 52sS a 521; do preerred, rs;
Fort Wayne 92h q 90; Alton and TerIe Haute, 81
3s; do. preferred, 63 bid; Ohio and Mississippi,
33H 335s; Delaware and Lackawanna, 1858
New Jersey Central, 1868 1887; Chicago and
Alton, ia li4H; do. preferred, ia 1l5; Morris
and Essex 90 bid; Hannibal and ST. Joseph, l1I2S
Il 1l19f; do. preferred ITO l1OH; Iron Mountain,
AK bid; Dubuque and Sioux City, 107h 1os; Co
lumbus Chicago and indiana Central, 17I Tx.
HIGHEST AND LOWEST PRICES.
The following shows the highest and lowest prices