The New York herald., 1878-12-19
The Stock Market Active
and Strong.
GOLD 100 A 100 3-e4.
Government Bonds Firm, States
and Railroads Strong.
MONEY ON CALL 3 sl-2A6A4l-9 PER CENT.
WALL STREET, l
WEDNESDAY, Dec. 1876 p. M. I

e
II may be judged indecorous to suggest the possi-
bility of difference between backing the "kng" to
win in first class gambling house. Of "copper"
ing the Northwesterns tdiose upon the Stock Ex-
change; but in reality the animus which influences
either transaction is absolutely the In either
profits or losses due to manipulation or
chance Yesterdays market prices were all down. to-
day they all up, but we have no information that
the intrinsic values Of the properties represented
either worse yesterday better to-day
Consequently we forced to believe that the
changes madc from day to day in these
same values are altogether artificial, and solely
attributable to the manipulation of prominent specu
laors. While testimony from every side supports the
belief that the country has turned slowly but surely
toward more prosperous condition. and that it.
therefore, from necessity implies better prices in
the future whether it be for real estate merchandise
stocks, spectators confne themselves to follow
ing the movements Of the half leading operators
who chang out" within hail of the Stock Exchange
and who "rig' prices without reference to whether
the country at large is financially speaking going to
the good bad Quoted prices, therefore. in Stock
Exchange official reports Of sales utterly
liable exponents Of actual values stock quoted
low to-day may be quoted high tomorrow. not that
the property has intrnsicaly increased in value
night. but that prominent stock gambler has
sort of thimblerigging yesterdays decline and
to-days rise may be ju\tly attributed.
While everything lower at the close yesterday,
everything higher to-day. Based upon real
values there reason why there should have
been any change ut ALL but such there was and we
proceed to give it briefly. The Northwesterns ad-
vanced nearly per cent purchases of the Osborn
party; Michigan Central advanced 4 under Mr.. Van
derbilt's buying and the hopes Of dividend. Rock
Island advanced from 11S5s to 1904 because some
body said that extra dividend would be declared.
There advance too, in the coal stocks, which,
IN New England phraseology, might be considered
"agin natnr, considering that the sale Of 100000
tons Of coal by the Delaware and Lackawanna Com
pany to-day realized average 701s cents per
ton below that Of November New Jersey Central ad-
under stories of its being used outlet the
Baltimore and Ohio road-en route to New York-from
sion to refer to this report days since old
story revived, and have to discover any
fresh novelty in it any greater reliance upon its
correctness to-day than when 1t first made
public. Gold sold at "shade" above par to-day.
Stock brokerage firms desrous of an advertisement
for selling at 100 found themselves anticipated by
yesterday proceedings. In this connection it may
be stated that report of the Canadian banks having
withdrawn their special deposits Of gold from the
city banks is officially denied 1t is stated un-
questionable authority that the Bank of Montreal has
converted its gold into currency and it is believed
that the other colonial banks have or will shortly
follow suit.
The opening, highest, lowest and closing prices Of
stocks and gold were as follows:-