The New York herald., 1876-10-06
FINANCIAL and COMMERCIAL.
The Stock Market BuOyant and Exriled-Larss
Transactions and an Important Advance.
GOLD 100 "a A 100 La.
Money on Call and Per Cent-Goyern-
ment Bonds Active Railway Bonds Dull.
WALL STREET, 4

THURSDAY, Oct Do 4. M
The attack the Shorts which was an affair OF out
posts yesterday (beng confined a. II was to the coal
stocks) grew into = general engagement to-day
Scarcely stock the list that had received attention
from the bears but went bounding up in sympathy
with the pronounced bush feeling that pervaded tho
MARKET The scare was widespread complete and ef-
lectua and up the present moment doubtless salts
factory to the promoters OF the movement There was
little evidence however OF any support from oeyend
the four walls Of Exchange, while that within was
confined to elevenhhour bears, converted into non
descript bulls tmo being. hopes OF recover
ing their losses BY the upward turn.
In New Jersey Central there was undoubtedly some
buying for the long account based upon the resigna
on OF Mr. Johnston and the election to the presidency
In his place Of Mr.. Knight OF Philadelphia together
with the evidence that effort is being made to
srol the property the OF the Baltimore and
Ohio Railroad Company, was alluded to some days
back. In addition this Il IL clear that some good
samaritans have pulled the morbund body corporate
out Of tho ''road to ruin" and poured new lie into
its by furnishing greenbacks TO Its treasury,
while the reconstruction OF directory extends At
least the hope OF future convalescence.
As regards Delaware and Lackawanna tho property
does not to be any better or worse than II was
week q month ago. 1t is simply case in which the
bears have digged pit for the bulls and fallen into It
braned temerty and suffered the pangs OF an "ambi-
tion which o'erlcaps ITSELF" Voibd tout Whatever
may pe the result the leaders in the present move
mcnt great credit for the mastery manner In
which they have, thus far conducted the campaign,
rs well as for the boldness by which an ini-
liatory shove OIL gwen to other promi-
ncnt, but stagnant stocks 'sL'audace paudace,
brjours pandace to be their motto to day. and
may prove satisfactory precept 10 them az u did
10 the Frenchman, If earnestly followed up and
not allowed TO die away Fabian tactics at tho end
Lake Shore Michigan Central and, mirdbie dctu Gen.
Iral Hudson all in full feather. the latter in
particular astonishing the board by tho strength and
activity display cd by staid . stock What has be-
come the recent bear attack this security
know for there is not left deritss enough 10
show that It existed Referring TO tho record OF
sales for details Of fluctuations it is sufficient to note
Ihe Improvement or the day being from TO 51a per
eent at least threequarters OF which retained at
the close OF business
Transactions were exceptionally large. aggregating
nearly 800 600 shares cd tho excitement and general
interest unprecedented for many weeks past.
The day having brought forth such good fruit. the
question arises will be garnered in its primo or left
TO fall roting from tho troes In word is It better
than Dead Sea apples aftcr aa The rise has been
doubtedly precipated upon vast existing short in
terest and probably without other aim than to orco
the shorts into tho market unwilling buyers 1t
has the time checked the decline Of mo coal
ptocks and thus ousted the bete noire of specu-
ht,on, which stood in the way OF any
advance in sympathy with trade movement But will
stay ousedf The great bears say 'no," and predict
shat the movement but passing furry, which will
fade away with the closing OF short contracts The
great bulls confident that tho natural reaction
has last reached the stock market, and that the
course will henceforth bo upward and onward. and
they point to the volume OF grain receipts, Increased
earnings Of trunk lines and probable cessation Of the
railroad war, a proofs OF their theory.
Who shall decide. when doctors disagree
And soundcst casuists doubt, like you and meS
SALES TODAY
The transactions the Stock Exchange to-day ag-
Eregaed 2o6 263 shares: New York Central and Hud-
Bon 6si6; Erie 14oo; Lake Shore, 81 sos; Cleveland
and Ptsburg, SEQ; Northwestern, SOo do preferred,
24oo; Rock Island 7,7l5; Pacific Mall 3.4oo; St Paul,
100; do preferred, Is $50; Ohios, 5000; Western
Union. l67o; Wabash $780, c., G. ]. c., 100; Pana-
ma, 300; Delaware, Lackawanna and Western. $3.50;
New Jersey Central So 1885, Michigan Central % GOO;
Delaware and Hudson Canal Company, 3,761
OPENING, LOWEST PRICES
The following table shows the opening, highest and
loves pric ccs OF 10