The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-08
The Stock Market Active
and Strong.
GOLD STEADY AT 1O2 So
Government Bonds Firm, States Steady and
Railroads Higher.
Money on Call Easier ats a z
Per Cent.
WALL STREET,

MONDAY. Jan. 7-6 r. II.
The bull speculation In railway shares further
progress to-day. or course Lake Shore led the way,
advancing from 62H to 63% and only losing 4 per
cent in final quotations. while the granger stocks did
nearly rs we'll From unprejudiced OF the sit
uation It would appear that the bull party having
the weight of advantages in their favor. while the
have ridden thoir cevaur de bataAe Of strikes
financial disaster and mud to unamely death There
appears 10 be doubt that the roads which tap the
Western granares and connect with tho scaboard Will
have offered to them an unprecedented traffic which
will greatly benefit their excnequer From all parts
Of tho West comes the news that the country
roads are getting into working shape and
that produce is being conveyed to the nearest
railroads In extraordinary quantities, while
the lines traversing the Sta OF Iowa Wisconsin
are embarrassed for the want OF rolling stock
the demand for transportation and find themselves,
like Oliver Twist, eagerly asking for Tho
turns OF earnings of the Central and Hudson road
for the month Of December, show vast increase
over the same month Of last pear, significant OF
q still greater business Tor two three months to
como 1t Is stated by friends OF tho property with
perhaps pardouabIo desire count thor chickens
before they are Matched, that the surplus cash
hand after the dividend paid the 18th inst will
amount to about and that the earnings for
the current month will (by estimate) those OF
tany Is magnificent enough to suit the views of
a Monte Cristo and ought to satisfy the
most modest of board bulls, but tho price
OF the stock nevertheless responds slowly, and deal
ings are confined to beggarly number OF sales and
purchases each day. Moro, however, IS beng done In
the granger shares at advancing prices the CROP Of
course, being the basis OF operations. While tho
popular feeling being directed to the probability OF
advance In the stocks referred there
clare that there buyers Of stocks for invest
ment that the Is due to the juggling OF profess
sonal prestdiRitateurs; that the crop abnormal
stimulus, whicn probably cannot be avalod OF to the
for many years to come. and that after
few weeks the-end Will have arrived tho roads
that busy will sink back to the old chrome
state Of idleness and TO the bitter wrangling
freight charges which characterized thcm In days
gone by Contemplativo spectators ana investors
are at liberty 'look here, upon this picture
and on this" pay their money and take their choice
There much less unanimity Of feeling coal
stocks and opinion 10 as much mixed a batch OF
Bonner's colateras and generally worthless his
Bankers and Brokers' stock. The rumor that the two
Deawares and the Pennsylvania Railroad Company
would dock OIL enough OF their allotment make up
for The scant allowance tho Lehigh Valley Company
met with an uneQuvocal denial this morning, and
prices which had improved weakened perceptibly.
Later on 1t was reported that tho Reading Company
would submit to a similar trimming rather than let
the combination tall through. and upon this and some
covering OF shorts, apparently by the bow win
dow people, prices rallied and the closing ones
up the best of the day. There nothing OF
interest IN the fringe OF djaphanous stocks which
hang ABOUT the active avoritcs and the market closed
generally strong and with an upward tendency
PRICES.
The ODeuinp prices o stocks a the Board 10 dov
were (ollows:-New York Central, 1861; Erie, s;
Lake Shore, 62I; WABASH, 10; Northwesterp, 35h;
do. preferred, 631s; Rock Island, 400; Fort Wayne
%; Milwaukee and St Paul. 37H; do preferred, 1871;
Delaware Lackawanna and Western, 4s% New Jersey
Central 15Il; Delaware and Hudson Canal. 49, Morris
and Essex, 7sX; Michigan Central, 62X; Illinois Cen
trial. 734; Union Pacific. 65,s; c., G. and l. c., 81;
Ohio and Mississippi, 81; Panama, 100; Western
Union, Tx; Pacific Mail, %.