The New York herald., 1877-10-13
FINANCIAL AND COMMERCIAL
The Stock Market Active
and Strong.
GOLD l02 rs A l03 l-s A 103.
Government Bonds Firm, States Dull and
Railroads Higher.
GOLD lO2 rs A lo3 l-s A lo3.
Money on Call g a z 8 a z
Per Cent.
WALL srRsrr,


FRIDAY Oct l2-6P N.
The drop In prices which startled the weakor bulls
couple OF days since and permitted TO exist with
such sangfrod by the leaders Of the upward move
mont has turned out TO be what Burke called ga wso
and sautary neglect" for frosh short interest
created and restoration to previous quotations
derod easy matter thereby Any doubt OF this fact
has been dspolled by the strength and activity dis
played in yesterday and to-day's markets. Tho ball
set rolling after midday Thursday was kept going
for the most part of to-day and aggregated to itself
somo important fractions SO fur as AN addition
to values won't Tho trunk railroads. especially,
were benefited by this Improvement, the report
that peace and harmony rogned among these
lines aud that satisfactory freight charges had
been made and would be stuck to, being vigorously
pressed az good and sufficient for tho same.
The velsst speculation oi the lot turned up In tho
shape Of Michigan Central, which NJ one time showed
= clean gain OF 6vs points upon yesterdays lowest
figures This stock Is SO hodged about by Mr. Sage's
privileges that it is difficult to got IT the true meaning
of Its fluctuations. Under an excessive issue OF
sputsn the price advances out of the way OF danger
undcr redundancy OF "calls'' It sinks away into
safety the great fabricator Of privileges, like the
manipulator roulette table, has thorough knowl-
edge o the machinery, and deity touches the spring
with his when the ball threatens to fall into the
s.hippodromed" today 10 the delight OF
tho small traders upon privileges and the
wise operator stood the and took gate money
for every put, call straddle which he sold Pretty
nearly az much interest was exhibited In Erie which
was carried up TO lax, undor large purchases made
by parties who acknowledged by the Board TO b
ssdowny coves" aud likely TO know 'shawk from
handsaw" whom thoy see one. Rumor went even 10
the extent Of numbering Mr. Vanderbilt among th,s
select coterie and credit him with being tho chief
nssigalor OF the movement Be this SO or not, II Is
certain that very bulish feeling has sprung up in
Erie and higher prices are confidently predicted
within tho last week largo purchases have been made
on the London Stock Exchange, with the
purpose Of making the turn offered by tho
difference In price between the homo and
foreign markets, and . FREQ exhibition OF this
stock on tho price touching l4h this morning,
checked the rise aud returned the quotation to IA at
the close. Coal stocks were comparatively neglected
and prices were anything but buoyanL To be ablo
even to "damn them with faint praise" may be COM
sidered complimentary in view OF the positive dsas
trous condition OF their trade Western Union res
mained quiet with unimportant fluctuations The
companys report has fallen fiat as the typical pam
CAKE and fails TO excite tho appetite OF either bull or
bear. Gould u believed 10 have been seller both
yesterday and today but thero ittic definitely
known Of the matter there il OF the amount OF tho
company's 1oaiing debt. Toward the close there Was
general falling OF in prices some securities losing
ali they had gained aud others showing only frac-
tional recession 4Et9a@
OPENING QUOTATIONS.
The opening quotations wcrc:-Gold,s 1o27S; West
ern Union, SO; Lake Shore, IS; Now York Central.
lOsh Rock Island, 1854; Michigan Central, esN;
Deawlre. Lackawanna and Western, SOY; Delaware
and Hudson, AZ; Morris Essex, 70; Er'c IL; Ohios,
s5s; Wabash, 1917; O., 9. and ]. G.. s. O., C.. G. ant
L, 4sA; st. Paul, 4o1s; do. preferred. 7oX; North
western, s2A; do preferred, 671l; Illinois Central
7eh Pacific Mail, 2a5S; ST. Louis N. preferred, 25@,
Quicksilver 21A; do preferred. Ss. Union Pacific 81
For. Wayne. os; Pitssburg SO; Harlem, las; Albany
aud susquahanna, bid, 80; Chicago and Alton, sokl
Chicago Burlington ana Quincy lo3k; Erie preferred,
90