The New York herald., 1874-09-23
Increasing Activity on the
Stock Exchange.
A BULL" MARKET.
Gold Steady, 100 l2 lO9 5-S-fOreign EX.
change Firm-MOney Easy.
SALES TO-DAY 100000 SHARES.
WALL STREET,


TUESDAY. Sept 22-6 +. NJ.
As we pass throusn the anniversary period of
the disastrous panic Of last year and attention Is
more clearly drawn 70 rs calses ana conse-
uuences the confidence, which has been oil such
slow growth seems e. strengthen with each days
contrast OF then and now. We nave had occasion
70 note this feeling IN commercial circles as un-
DERIVING q revlying iall trade; but later events
have demonstrated 1t more completely, until at
last 1t may be fairly said TO have reached expires
sion in
AN ACTIVE BULL MARKET
on the Stock Exchange How long this may con-
tlnue OF course cannot be determined, nor Is 1t
material now to consider 1t, the present TACT being
sufficient TO call a. tenton 10, that In the absence
OF any clique movement, OF Independent OF any
great leader, the recuperatve forces OF the
country have silently wrought the convic-
ton in mems minds tnat the securities
now being dealt in on the Stock
Exchange were selling below their value and
offered the opportunity OF pront' TO those who
would purchase them at their present prices.
This dvested OF the elaborate argument with
which rumor assigns To each stock some par
ticular reason for Its advance to-day is the eX-
panatlon OF yesterdays and to-day's bull market.
Whether ir viii continue tomorrow, Tor the bal
ance OF the week, or month, it is impossible to
state, or whether some sceptica bear OF SUFFICIENT
resources may. by daring rad frighten, in any
OF these periods mentioned, weak holders into
sacrificing That which tuey now SO eagerly buy, Is
matter for the future to elucdate. 1t has been so
before, and 1t may be again; but yet the one TACT
with which we have now TO deal remains, that the
temper OF speculation on the stock Exchange to-
day was decidedly ''bullish," rejecting IN this an
improved tone and feeling OF increasing confidence
in all the departments OF trade.
THE sTJCE MARKET
opened strong and buoya ant and continued active
at advancing ngures, with but a slight reaction
Just before noon from which it quickly recovered,
registering advance OF 4 TO 5j4 per cent. The
latter figure was made in Harlem, which rose on
sales OF 3,400 shares from 1854 to l31. New York
Central Lake Shore and Western Union were also
strong. g., c. and &, advanced from l1T to l3 IN
sympathy with firmer ieellng IN respect to the
first mortgage bonds OF that road, which sold this
afternoon at 72a upon the accepted belief that
the guarantee Of the Pennsylvania Railroad
Company as to the payment OF interest
on such bonds VIII be upheld should
there be occasion. At the second call the market
was still irm but later there was a reaction OF 4
to Il per cent from the highest figures OF the day.
Harlem in this interval sold at 129H. Toward the
close there was less activity and prices continued
to recede, the decline from the best fgures Of the
day reaching 4 10 Ia per cent, but In the hnal
dealings the strong unaertore OF the market reas-
serted itself, and the closing prices showeda a par
tial recovery The total sales OF the day were over
aoO,oOO shares, Lake Shore, Union Pacific, North
west western Union, Erie and Ohio and Missis-
sippi being those largely dealt in In the order
each stock and also