New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-09-26

LIE S1TAIA IL
its appearance az a lively speculative. Commodore
Vanderbilt and his famous waterin pot may be ex-
pected to be discernible in tho not very dim dis
tauce. In price the shares had gained a small
fraction at the close to-day c.. C. and c. was the
subject of unusual amount of buying and selling
with no very considerable huctuation in price. but
with final gain of per cent. Delaware, Lacka-
wanna and Western held its own throughout the day
and closed at an advance of !. Erie receded some
In London, but fuctuated within only a narrow
range here our operators testifying their disregard
of John BULBS opinion by marking the price up TO
37l, gain of a fraction. Hannibal and st. Joseph
was subjected to the same adverse manipulation
limited at yesterday but sold as high as q. in the
face of it, closing at an improvement of about per
cent Harlem was stale and Improbable to the
spectators, but not more fiat" than at the
close last night, when 1911 was bid, and
~ asked. There were sales at 1913, the highest
and almost the only price of tho day AS usual
Lake Shore overtOpped them all as respects guam
tty, and, is not common for this speciality, its
fluctuations took range of fully per cent closing
at just 81 per share above the price last night The
bulls were exceeding iubilant over this success,
while the bears declare that the rise altogether
sympathetic and cannot hold. If the Company
would let us know something about the earn
ings it would relieve operators Of degree
of suspense that is becoming uncomfortable.
There are holders of shares in this company who
say they wonld rather know the worst than remain
in a state of ignorance that is not in the slightest
respect blissful Chicago and Northwestern stock
was model of steadiness when the magnitude Of
the transactions is considered the highest quotation
having been 39t and the lowest Sss 1t opened at
;,nD i,,t ba
upward until after noon. when it rose slightly
but finally closed at an improvement of
compared with last nights quotation.
There are few stocks in which the business may be
said to be so much diffused as in this old favorite
All grades of operators like to deal in it, from the
impecunious hanger on who ventures his all in
ten day option for a single hundred shares, mp TO
the doughty specuatOr who is not to be intimidated
by block of thousands. The stories respecting the
situation of the Company, the state Of the traffic
&c. &c. are plentier than berries in their season,
but the bulls turn deaf to them all and go on
buying as if they expected the supply TO be ex-
hausted as it was in the ver-t0-beforgOtten cor
ner when some of the shrewdest and wealthest
speculaters were caught on the shady side Of the
market with the price marked up between 200 and
300 Ohio and Mississippi was without material va
ration during the day, and closed at an advance or
/. Pacific Mail maintains its position among the
stocks most largely dealt i'll, being regarded in the
light of o concern quite as subject to VI
cisstudes as any stock company on the list.
There are strong opposing interests 10 il, so that
there Is probably as large proportion Of short sales
as in Lake Shore, these two being almost the only
stocks in which there is believed 10 be much dispo-
sition TO operate on the short side Panama was
without yariabeness Or shadow Of turning, ana
closed at last nights quOtat0ns-ll5i bid and ll6f
asked. Quicksilver lost I, while Rock Island and
Wabash each gained ] per cent. Of all the
speculatives Union Pacific was the favorite,
some % 900 shares having changed hands to-day at
generally improving prices TO the end. when 1t
closed at the highest price of the daynamely. SIG
an advance on the closing quotation Of yesterday of
/! per cent. The reasons given for the continued
rise in this stock are many ard varous-such the
road is out Of the way Of all Granger influences; it
traverses a country that must increase in
population; 1t already possesses a valuable
through traffic for which there is no pros
peet of early competitions it may sell
many millions of of land without diminishing
the total market value of ITS real estate interests
il may be consolidated with the other Pacific roads
and become a dividend paying institution, OF the
larger holders of the stock having a procliyity for
" corners" may attempt something in that line
with its shares, and then even small quantity
may be good to have in the house" These are
few of the hints thrown out by interested partisans
and as there to be lite no short interest IN
the stock and of consequence no bears TO circulate
counterbaancng reports the bulls have it all their
own way Wise men will receive the stories
with a few grains of salt. Western
Union Telegraph shares held position, in point OF
activity but little inferior TO that of the Union
Pacific Company. Opening at a fractional improve
ment it remained about steady until toward the
end of the first Board, when it gradually moved for
ward with immateral reflections 70 the end closing
at 792 an improvement of l per cent since
Yesterday There may be q few shorts in
this stock but it is favorite just with those
who operate for short turns and moves up partly
this account and partly in sympathy with the gen.
eral market The most Indifferent observer cannot
fail to see in the operations at the Stock Ex-
change q determined bull movement. How far
it will 20 OF when it will end, are questions
the correct solution Of which in advance would
be better than the possession Of any gold mine
within our knowledge The real basis of the rise in
speculatve stocks is believed TO be the large and
steadily continued investment purchases of interest
paving securities. The appreciation IN these brings
the inferior classes of shares to higher plane and
"a the prices of tho latter tend higher and higher
new buyers come in to add to the furore. An ex-
animation Of the list of sales will give clear idea
of the excited state of the market. while the follow
ing table furnishes the opening highest. lowest and
closing prices: a.
Harlem Sen'fl'..,......i3s i2s i9s i2s
Bne..:;................'. az 4432s 22saS $$73