The New York herald., 1877-11-16
FINANCIAL AND COMMERCIAL.
A Stronger Market in
Wall Street.
GOLD lO2 5-S A 102 l-2 A 102 5-S.
Government Bonds Firm. States Higher
and Railroads Strong.
GOLD 102 5-S A 102 IL A 1O2 So.
MONEY ON CALL EASY At 5A 6 PER CENT.
WALL STREET,

THURSDAY, NOV 10 r. ~.
The improvement which showed itself yesterday
upon the Stock Exchange we'll supported to-day,
and tended generally toward higher scale OF prices
Unfortunately the advance is meaningless, since IL
arises from the mauipulations OF market that is
entirely IN tho hands of professional brokers Of the
"baser Sort" and one that receives no recognition
from the moro important spectators This latter
class manifest but little desire TO touch the market,
either for the long or short account, and is con-
tent to leave tho formation OF prices to the hoi poto
who just be working out OF their bearish
notions and transferring their allegiance to a bull
speculation. This change particularly noticeable
the granger shares. which. being thought bcttor OF
every day. are improving their market values
accordingly. The advanced figures made today
throughout the list principally the cxcep-
tona strength OF Michigan Central This strength In
turn. was purely artificial and resulted from the
sold condition Of the stock, which has been brought
about BY short saies OF prominent bow window bears
The situation invited the attention Of the bull interest,"
which waxing from Its apathetic state for a brief
period) engineered sharp and sudden upward turn,
which carried quotations from 60T TO 64x. The
closing price lower by the of traction
but the popular suppositon is that the ventursome
bears will be made TO 'squea' even Mr. Gould was
mado to do few weeks back. This furry in Mchi-
gan Central constituted the only disturbing factor
q ready relief by the commission men, not
only because created trade the stock ITSELF
but because 1t broke up the monotony OF the Of
The market. AS simply referable to this spurt Lake
Bhore and the Western stocks took upon themselves
he garb OF fresh activity and appeared in tile "Sun-
lays Desr OF an unexpected advance There was
some little Improvement In the remainder OF the list
Is WELL arising from sympathy with and the slop overt
from the better feeling whicn had set in. Even the
coal stocks crawed up few fractions from the mag
netism OF good company, though neither the condition
Of their trade nor their financial warrants
belief In any other improvement than such as
would result from the influence Of galvanic
spasm. To sum up, the market remains
as 1t has done Tor weeks past an arena
for professional dealers, VINO 60 TO work as sys-
tematlcaly as the croupiers aud cappcrs Of fash
ionable hell The "play' is confined family party,
In whose gains losses the public takes no interest,"
and the "chips' lost to-day tomorrow with
''quits" as general thing cried at the end OF the
week. Howto get out Of this Improbable slough is
The question. While some believe that increased
business to be enjoyed by the railroads will start
trcsh and vigorous speculation, others believe that
stock gambling at least for me present. .'played
out" ''Time," the poet declares, '.sels all things
even, but brokers' who look to the market for their
daily bread, do not nsed 'tme," but .'money" SUBJ
stantves, which, In their at least, not prac.
tically convertible tcrms
OPENING PRICES.
The opening prices we're as ioilows:-Gold, 102K:
Western Union, 7sA; Lake Shore, 67N; New York
Central 1O6h; Rock Psland, 100; Michigan Central
6lk; Delaware, LacKawanna and Western, Al; Della
and Hudson, Al Eric, lO1s: Ohios, SKI st. Paul,
34H; do. preferred, 6SA; Northwestern preferred,
64 Hannibal and st. Joseph, Is; do. preferred, 29X;
Fort Wayne 9lh; C., g., G. and l.. 39s Illinois Gen.
tra, 73H; ST. Louis N. preferred, 22x; S. L. and
S. +. preferred az; c. B. and Quincy. 1925; New
Jersey Southern. IA; Pacific Mail 2aH; Union Pa
rlhc, 66h.