Daily Los Angeles herald., 1878-03-16
gus Au9tlcs 5lerald.
a B,onltn sssock Market.

az wonder what brings old Eyre
into the Exchange ?p remarked
one of the shellbacks in the lobby
this morning, as he saw the astute
Colonel pacing the center for the
first time in three weeks. "Some-
thing unusual must have happened
or you would not have ventured
out. The Colonel has lived the life
of recluse, almost, since those
telegraph operators over in the
Western Union building rugged
that magnifying machine and read
all of his private memorandums. l
guess there's fun ahead and it'll be
money in my fist to watch Eyre
and see what effect his presence has
on the stock market" So saying,
the lobbyist subsidized into his shirt
collar and scrutinized the
man9uvres of the Colonel
as closely as n cat would
the movements of a mouse.
The market was dull and slightly
off color at the early session of the
Pacific and few among those who
walked over to the San Francisco
Board anticipated that things would
improve. The Post, like the old
shellback in the lobby, will now
watch the movements of Colonel
Eyre. With the exception of Mex
lean and Grand Prize there was no
Improvement in the first few stocks
that were called, Ophir included.
Small dealers, who could, sought to
sell the latter stock, and it seemed
impossible to get the price above
$54h. Smiley and other inveterate
sschippers" looked as if few buyer
five, judiciously put out, would
swell their bank accounts. Five
minutes later, when disconsolate
feeling ran through the ranks OF
the true believers, Colonel Eyre
was seen to look Sandy Austin and
Hale squarely in the face and lay
three fingers cautiously on his right
cheek. This was evidently a pre-
concerted signal, for Ophir was
called and Austin and Hale, tossing
the stock from one to the other,
held the price at S55. Meanwhile
COLONEL EYRE DREW HIS WATCH
From its pocket and coughed
slightly. This was, of course, a
hint to Gurnett, who, acting as
sknm;sher for Austin and Hale,
bagged all the stock which was Of
fered by the other brokers'. Then,
to the astonishmept of the lockers
on, the price began to rise. Austir
and Hale continued to drive thu
stock of other brokers into Cur
pett's hands as efficiently as shep
herd does a flock of sheep into al
enclosure. Dollar after dollar the
market advanced, until, at the
very close, Ophir stood squarely a
sos, the highest point yet reached
The total sales of the session were
2,700 shares, an intense excitemen
prevailed.
JUST BEFORE THE REGULAR BoARI
Was called to order crowd of ex'
cited brokers collected in the cen
ter, and it was plain from their ac'
tions that Ophir would touch $50
The Chairman finally gave the sig
nal; there was momentary lull
then with q roar the excited
knights of the order book, obeyinl
the mandates of their customers
took possession of the market
Scott bought the first lot ct $50
The power of the house of Glazie
& Co. manifested itself as lifting
agency through Erich, who bit
the stock up to S62. Herman ant
Walker did q large buying bust
ness. Fitch paid 694 seller 10 t.
Shotwell for quantity. The high
est and eliminating price was S64
Notwithstanding the marked rise
fully SO from the price Of the early
morning, the sales were light, ant
the stock could only be obtained ii
small lots. The fever theIl seizet
Mexisan, Which touched SIS. Cal
ifornia rose to $34. Consolidated
Virginia, Best & Belcher, Gould &
Curry, Savage and Hale & Nor.
cross did not respond to the rise il
Ophir and Mexican to q great ex
tent, but Union was strong at 81
and Sierra Nevada better at $44
There was improvement, asa rule,
IN the balance of the market, but
as before stated, the excitemen
was confined to Ophir and its i'm.
mediate neighbors.-S. f. Post
March 18th.