The New York herald., 1878-11-01
The Stock Market Dull and
Irregular.
GOLD STEADY AT 100 IA.
Government Bonds Strong, States Dull
ied and Railroads Irregular. -' I
MONEY ON CALL 5 A 5 A s PER CENT.
wAr. srRrur


THURSDAY. Oct 31--6 p. NJ
The Western Union speculation continued TO abb
Dorp to-day the rsignng ipfuence OF both the street
and the Board room. Advancing from par to l02 the
price next recsded TO 1913 and then closed. Why
it should have done either the ono or the other is
simply attributable TO tho sheerest Of stock gambling
Tho msnipulators Tor rise have clsverly established
what their brethren In sporting circles profession
ally designate ''doubls cross" II you buy It Is
impossible win. II you sell you are sure to lose
s.uoila totP' Under these circumstances discretion
II the better part OF valor and The courageous speou
lator Ia he who washes his hands of the whole busi'
AZ the matter stands the engineers Of the pres
snt bull movement undoubtedly control the Western
Uuion property. They may leave the capital stock
1t something short Of $4,000 600, they may mark
u mp 10 $50. 100000 All depends upon their success
In dsposng OF their holdings at about present rrioes
n the allursments Of promised stock dividend are
sufficiently attractive to afford market for the accu
muatsd shares nothing will be done toward inoreas
Ing The capital; II the forewarned public decline the
bait the new issue OF shares will be made AS near ns
posRible tho familiar proposition OF "heads win
tails you lsse will be put in practicable shape with
the stock selling at 1O2 1t becomes question Of In
tsrest whether tho Western Union directors have or
will avail themselves of present inflated figures to
turn the companys TO- 600 shares into cash. and If not
why notf Knowing, as they must the artificial
of decline In the future IL Is clearly
Bheir duty servants OF the stockholders to avail
themselves OF the opportunity TO sell out and turn
q round into tho treasury. failure to do this
simply suggests sympatny with the present specu-
ativo and willingness to sacrifice tho
terests shareholders the rapacty Of stock gam
bers. Perhaps, however, the net results OF sale Of
the companys stock may figure up less than
10 counted upon. 1t would be matter Of interest to
know the whole any portion Of this stock
has hypothscated If SO, what has become Of the
proceeds OF til loan and what financial institution
advanced the money. This being the last day upon
which the Erie rsconstructioniss could avail them
selves OF their privilege to assent monotarily
10 the corporation. few payments have
been made both upon the common and pre-
Serred stocks Tho result was shown In
Increased transactions In the asssnted" shares at
fractional Improvement In quotations In Lake Shore,
the stocks and tho grangers there moderats
gain in closing opening prices, the same being
due TO the widely prevailing impression that the
future prospects Of trade warrant improvement OF
values. The Western Union craze is longer affect
Ing the general st and bullish feeling winch
sts is founded upon q critical estimate oil business
prospects which arc in the main regarded iavor-
able. t1. . III
ru The opening, highest lowest and closing prices OF
reid and stocks at the New York stock Exchange