The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-15
The Stock Market Inactive,
but Stronger.
SOLD 100 SIS A 100 ga.
Sovernment Bonds Firm, States Dull and
Railroads Strong.
MONEY ON CALL EASY AT ga A PER CENT.
WALL STREET,

I
TUESDAY, May Id ~
No little timo occupied to-day in installing tho
newly e.ectad Stock Exchange officers and IN giving
them AN opportunity 10 air their eloquence from ihe
rostrum through the form OF returning thanks. Ino
loss OF time probably did not matter much 10 any
body; certainly not TO the large officers, When pad
showing s.sittcrsn have grown be nuisance SO
that recourse Is being had to q modern mene
meme tekel upharstn .writing upon the wall, to
warn them OF the promises and to make their room
to-day an acceptable exchange for their company;
certainly not TO the great operators who are doing
next to nothing and doing II sparnsiy, ana certainty
not to tue commission brokers, whose time
Just OF feeble monetary value ana
.'out OF joint" generally Nevertheless, during the
period devoted TO business the market remained
strong inclined better ngures. Particularly
was this the case with Wisconsin stocks and Lake
Shore the latter appearing in iull rs this morning
MS the prime favorite of an upward speculation. AS
the prospects OF the road better to-day than
they last week, and are not likely 10 be better
under the cutting under OF rates and the severe CON-
petition Of railroads and water ways, IL Is apparent
that any improve mont in the market value OF tho
stock must be due to pure manipulation. Inquiry
conhrms this hypothesis and develops The tact That
a small pool OF not exceeding 10000 shares has been
formed, which aspres 10 the profits OF Two or throc
per turn and POUNDS s chances for success upon
The very considerable short interest which has been
created In the stock. AS tho whole matter smells
Df the awdust and possesses acrobac flavor IL is
not dllcut to make 4 shrewd guess as TO the extent
OF the movement and tho period oil It's duration. The
shares OF undoubtcd strength and hold their
own with tenacty which puzzles the bear contin-
gent that has persistent!y prophesied Tor them
grand climacteric OF receverships and ruin. The
fact is that the combination has shown greater CO.
hesiveness than thought possible, and whatever
there may be for dsintegration IN the future
there signs OF it as yet The furry IN Rock
Island has passed away and the stock was barely
steady Evidently the experiment Of erfdeavoring TO
bolster up the Northwesterns was not success ana
not thought worth repeating. Other stocks were
dull, but strong, and this condition the market
closed.
OPENING
Tho opening prices OF stocks at the Board to-day
were as foows:-New York Central, 1863 Erie, 12S
Lake Shore, GIN; Wabash 14is; Northwestern, so;
Northwestern preferred, .i5a Rock Island l07h;
Milwaukee and ST. Paul 5o1s; Milwaukee and ST. Paul
preferred, 754; Pittseurg, 7414; Delaware, Lacka-
wanna and Wcstorn 81 New Jersey Central, Is; Della
ware and Hudson Canal, 5l4 Morris and Essex, 1871;
Michigan Central, CT; Union Pacific, G91S: Chicago
Burlington and Quincy, 1o2%; Hannibal and ST. Jo-
scph, 124; Hannibal aud ST. Joseph preferred, 2SA;
Ohio aud Mississippi, So; Western Union, So5s; At
lantic and Pacific Telegraph, II Pacific Mail, 2O.
CLOSING