The New York herald., 1878-09-12
FINANCIAL and COMMERCIAL.
An Active and More BuOyant
Market For Stocks.
GOLD STRO N @ E r.
Government Bonds Steady and Quiet-Statcs
Dull and Railways Strong.
MONEY ON CALL l ID TO 2.
GOLD STRON G. E r.
MONEY ON CALL | - TO 2.
WALL STREET,

WALL STREET,
WEDNESDAY, Sept l-6 p. ~.
During many days past reference has been made in
this column to the sseainy persistent purchase OF
granger shares by leading spectators. proof Of
It's correctness is exhibited In the smart advance Of
.his morning ana the Stubborn seadness Of tho rest
H the DAY. II is almost as delicate n matter 10
"name names In stock operations for tho Speaker
the House or Commons, but inasmuch as tho street
discards this decacy by public proclamation OF the
names in question, IT would be false modcsty TO dc
sne to print them. Be it known, therefore, that
hessrs. could and Keene, through an alliance
ono nsive defensive, are populary supposed
10 be the head and front OF the advance
movement in the granger shares. The rise is
not destined, however, to follow nterruptedly
the ways Of peasntness or the paths OF peace, for
bitter bears stand in the way and tho advance is u
Ofobstaclea The future prospects OF tho st. Paul
road are by the bears to look very had indesd
Tho crop along tho line is stated to be inferior
enough to moet with rejection If fed to nrst class
poultry yard; the dividend upon the preferred stock
is said 10 have wasted in the acquisition of un.
profitable roads, ana chances OF tho paid charges
being paid upon bonded debt are represented as
being at least doubtful On the other hand the sup
poters properly that the preferred ctvi
dend will be surely paid out OF tho earnings that the
loss receipts through depreciation OF the crop Will
but moderately affect the years. business,
ana tnat present prices much below tho
intrinsic value OF the stocks tn emscves.
The real truth seems 10 be that, whether prices be
high low, very large short interest has been Gre
aed and that Tho astute operators mentioned mean to
turn tho iaot TO good account by advancing prices
and squeezing tho their hearts, content. The
reported earnings OF ST. Paul road for the first
week In September show q loss Of $4,000 as CON-
pared with last year. The say that tho decrease
actually amounts 10 $71,0o0, since $2l 0oo OF the
weeks receipts duo TO tho exceptional business
afforded by tho State iair rho Western Union Ex-
ecutIve Committee to day recommended dividend Of
liz per cent bc paid to stockholders the 18th OF
October Although everybody foit assured that the
dividend would be at least that amount (and some
sangu,ne holders thought It might 90 more The
stock advanced as though tho concern had struck
new bonanza Alter paying all indebto iness and The
abovo dividend tho surplus added 70 sbo previous
sne looss up to respectable amount OF $685. 5l2
The day through IN most OF the prominent stocks
was a progressive one and, gonerulIy, the closing
prices were the best OF the day. Setting aside oil
considerations OF intrinsic values II 10 quito apparent
that for the immediate future profitable speculation
lies with the bull siie OF tho account
RANGE PUNCTUATION.
Following the opening, highost and lowest
prices stocks to-day, with the three NJ. closing
ouotations.-