The New York herald., 1877-11-15
The Stock Market Stronger
and Higher.
GOLD WEAKER AT 1O2 5-8.
Government Bonds Quiet, States Firm
and Railroads Stronger.
MONEY ON CALL EASY AT 5A6ASPER CENT
WALL STREET,

WEDNESDAY, Nov l4-6 I. NJ
Although the amount OF business transacted to-day
will vary little in Of bulk from that OF yester-
aay there has occurred a very appreciabe improve
ment in prices Nearly all tho railways have added
something to their market values Especially has this
been the case with Michigan Central, tho grangers
and Lake Shore Why any change whatever should
occur ,s az difficult of solution tho mystic IN an
algebraic problem, particularly when tho result is
worked out OF q brokers' Market pur ct stmpie, ana
when the brokers themselves have no idea oil a more
complex arith me,ic than that which attaches to the
gathering OF cighihs and quarters Never
theless prices generally were better NJ the
close than at the opening, partly because
the sawdust party OF Exchange court was
supposed TO be cmulous OF gain through the medium
OF feeting and fractional Flip flaps, and partly because
an impression prevails that tho chief railways OF the
West Will for the winter months present an mpor-
rant In earnings Whether the acrobatic per-
formances alluded TOR the moment dverIs the mar
ket TO higher prices matters lite the anti
phlogistic greyhound OF true values Is capable oi
running against railway tram simply ioadeu
speculative figures, and in the end Is pretty sure
win. So the notion of the future course o vaiues
seems to be predicated upon what is likely to be the
result increased railroad earnings rather than upon
the manipulations OF spectators Ine reasoning
appears 10 be as follows While the present
is too low guarantee profits exports, and while
frciphts bv steam are too high to shipments
the existing check trade is nearly certain to be re-
moved In the future both by the clearing OF Tor
eign markets, through decline In supplies, and IN
the competitive bids for freigns which, u Is argued
will be forced upon the steamship companies. with
foreign markets depleted and cheaper access TO them
obtained It is fair supposition that the hoardeu crops
OF the West will bo released and sent on their way 10
the scabonrd In the event that the canals ana lake
communication be stopped at any hour by a 'coid
snapn traffic referred TO must necessarily take ITS
way over the railroads. tho manifest benefit OF their
exchequers OF the privy OF such spec
uiators have purchased shares upon this
forecast Some such sentiment could only
have prevailed to-day as stimulus TO the trunk lines
and Western shares. Even Michigan Central, which
has been Conspicuous for "eye in mourning" put
less disrep appearance and advanced nearly
three points at one time. though something was lost
before gong sound Lake shore improved slightly,
the granger shares notably, and the rest Of the mar
ket hardly at alI though tho at tho close was
good ana clear, but scarcely sympathetic with the
bears notion Of melody, which, everybody knows.
fhas little in common with ear Tor bull music
OPENING PRICES.
The opening prices iollows:-Gold, l02S;
Western Union, 70; Lake Shore, 67,s; New York Cen
trial, 1861; Rock Island 9oH; Michigan Central, SO;
Delaware Lackawanna and Western, 461S; Delaware
and Hudson, 43; Erio IoI; Ohios. 81; G., G., O. and
L., 80; ST. Paul. 3ss3< do preferred. 67% Northwest
ern. 34k; do. preaerrsd, 81; Pacific Mail, 22A; III
nols Central "A; Hannibal and ST Joseph. 13; do
preferred, 80; Chicago and Alton Tx Union Pacific,
565t New Jersey Central, llA
CLOSING QUOTATIONS.
The closing quotations at three p. M. were as fol.