The New York herald., 1870-01-29
STOCKS STRONG.


GOiu pulances.. l,7io, lOl
Currency balances ................ 2l03, ,2OS
STOCKS STRONG.
The stock market al the opening retained some
thing OF the heavncss which characterized yester-
day. but after the morning call became active ana
strong. The Improvement was quite marked In the
Vanderbilt shares which the subject Of great
curiosity In the street, inasnuch the directors
reported to be quietly in session at Albany delibe.
rating on the question or converting much OF the
scrip a. they have been authorized to DO by the
Legislature Of 1862 1t is also corJecturcd that they
are deciding In what way they Will nqui.
dsto certain Indebtedness, consisting Of Hudson
River mortgage bonds which fall due next MONTH
the same having been contracted IN specie times,
and therefore suggesting aAueston OF the liability
Of the company TO pay them IN COIN. The bond.
holders viii probably b offered the alternative Of
currency tWebty-year gold bond at six to seven
per Ge4% Erie was dull and fraction BETTER Read
l9g was quiet and steady. Lake Shore was strong
ana quiet The Northwest shares active on tue
formal announcements OF the intention TO issue
$720o,0Oo bonds convertible INTO preferred stock.
The price recovered from the depression OF yester.
day, showing that the effect OF this issue had been
more than discounted The new bonds do not vir.
tually increase the Indebtedness OF the road which
y perfect centipede OF branches and small lines.
ABSORBED or leased In the course OF years, ana on
which theFe is an ever mailring Series of mort.
cages. These new issues will In time have the
enect OF consolidating all these various debts,
20 variously named in the records OF the present
Chicago and Northwestern l,ne. ST. Paul was irrer.
ular and at one time declined t- 7Is< but closed
nrni. Rock Island still attracted d large concourse
on the sidewalk In front OF the Stock Exchanges the
dealings were again heavy, the prices fluctuating
between the extremes ofl1las ana 1924 The Rock
asand anair has been attended by further action OF
She stock Exchange, which body by large vote,
tnls morning, requested the Governing Committee
to permit the telegraph company's quotations or
street quotations for the stock be hereto
fore. The Governing Committee hold the request In
In allegiance and have called o special meeting OF the
Stock Exchange for tomorrow aG hali-pasS eleven
O'Clock. when they Will submit their reasons for not
only striking the STOCK from the list but also for
bidding the telegraph quotations OF sidewalk prices.
The circular OF the Hannibal and ST. Joseph Railway
was given TO the public to-day. IL contains very
SILLY resume OF what the company intended to earn
In 1863, but did not Hence the necessity for issuing
Tour millions OF eight per cent convertible bonds TO
meet indebtedness contracted In expectation OF
these increased earnings. and also to consolidate
certain floating and maturing Indebtedness. The
stock at the second board fell to loaior the common
and 1o4 for the preferred, but then to iOe
l07. Indeed, the sober second thought Of the street
began TO mistrust the whole document as a stock
tObbing affair, to induce holders TO sell their long
stock to the clique and go short OF LOT more Tnis
ruse worked very successfully IN Rock Island, OF
which the holders were depleted by the sudden dis
covery " that there had been overssue or stock
last summer. Again, Northwestern Is undergoing
like manipulation the bears selling It freely yes
terday from 72x to II, on the announcement
Of the proposition to issue convertible bonds.
Wabash was weak and declined to 81 on the regular
announcement that Sl,700,o00 new stock would be
issued. Toward the close there was some ac
tivity in Columbus. Chicago and Indiana Central
winch sold at 1S1s In the miscellaneous shares
there active market for Pacific Mail, IN which
Che 'sbears'' desired to put forth new line of
short sales and accordingly revived the report OF a.
Congressional subsidy for the Clna branch. which
had the effect OF putting the price TO 4oaS again. when
. decline to 39G ensued Western Union was active
and rose to 36t.. marposa preferred touched 10
Cumberland Coal was steady. The express stocks
were dull and inclined TO heavine5s. In the rail-
way bonds there further activity in the Pacific
railways the Centras advancing TO 95, as against
94H yesterday, ana the Unions 10 S1ga, as against
B4M at the same time. Tenth National Bank shares
sold at 1o7.
THE EXTREME FLUCrU ATOMS
The extreme fluctuations OF the leading specu!a-
tive stocks are given IN the following table OF the
highest and lowest prices Of the day
M