The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-04
The Stock Market Active
and Strong.
GOLD STEADY AT lOl l-s.
Government Bonds Firm States Dull
and Railroads Quiet.
MONEY ON CALL ACTIVE AT 7 PER CENT.
W ALL STREET,

WEDNESDAY,, April ST p. H.
The stock market is fairly wound up and runs with
the regularity Of eight day clock whose hands IN
traversing the dal continuously point 10 higher n.y.
ures. Especially to-day OF the 81. Paul
property, wnicn took the lead in speculative esiima
ton and kept IT, Present unexampled earnings and
prospects OF . continuance OF the same Tor another
twsivemonth III the favorable promises OF the mex:
crop be Borne out BY practical rcsulsl attracting
buyers aud advancing values. Consequently. the az.
yregate Of TRANSACTIONS IN the two classes Of stock
exceeded $1,000 shares, and tho gain In market
price surpassed any other STOCK upon the list Close
behind came the Northwestern ana Lake Shore-stili
continuing be nrst favoritss the betting; bat for
The day. at least, remarkable rather Tor steadi-
moss OF quotations than for an increase
vi values Included in the category
Western Union-strong at one time, weak at an
Other, but the end sufficiently Arm TO meet the do
sires holders who had bought in under reports OF
An increased business. More than usual attention
was gwen TO Pacific Mall over 10 600 shares chang
ing hands prices that ranged from 20 10 2zss, al
though latest dealings made at decline OF one
per cent from best figures. correspondent objects
10 our classifying the '.maJor part" OF the Pacific
Mail leet siourtn rate hulks' and claims that at
least two vessels the City OF Picking and City OF
rokio s.smply agnihcsnt in all respects" They
certainly being ''magnifcent' failures II
Inc log OF their first voyages ships Is criterion
Of their value, the arrival OF the rst named at
Ban Francisco II was found necessary 10 dock her and
tinker up iron plates aud bolt heads, At the cost
Of many thousands OF dollars. before tho ship
again pronounced seaworthy. II We re-
member rightly the Toxic was subsequently,
submitted TO the same process and for the same rea
II these crack ships OF tho line turned out
Be crppes their youth, what Is TO be said OF the
rest OF tho noe which have been invalds for many
Year, OF the last acquisition" OF ave steamers
from defu net Transit Company the less said the
better. white elephant on ones hands - an sue
QUESTION" certainly, but II does not better ones
credit TO talk about OF Its keep As for the
management OF the concern, sufficient commentary
upon that 10 be found ia the Market price OF the
stock. Fifteen years ago shares sold AZ SO
Io-iay they are selling at 20. The last brilliant
financial coup or this sintelligcnt and capabc' man
lgement was the purchase Of the I've steamers re-
ierred TO for $3.50, 600; actual vaIne $500, 000
Perhaps, however. We have used extrava0ant figures
rating the majority OF the fleet as fourth class
hulks.n We alphabetically change the expression
to s.third class" hunks, aud thus hope that this
modification will meet the ideas OF our correspondent
The business coal carriers was less than usual,
the interest OF the day being attracted TO the
active railways. No lack OF strength shown in
the market the close ana almost every instance
Tho best prices oil the day nearly retained in
nual dealings.
OPENING PRICEs
The opening prices Of stocks at the Board to-day
were as foliows:-New York Central, 107h; Erie,
10h: Like shore, 66sS; Wabash, lSk; Northwestern.
49,; Northwestern preferred, 1915; Rock Island,
l04x; Mlwaukce and Sc. Paul, 45k Milwaukee
aud 81 Paul preferred, 727s pittsburg. 77k;
Delaware, Lacxawanna and Western, o.; New Jer-
roy Central. lex; Delaware and Hudson Canal 53x
Morris Essex T74; Michigan Central, 81; Illinois
Central, 75a; Union Pacific, 6sJs; Chicago Burlington
and Quincy, lol Chicago and Alton, 74k; Hannibal
and 81. Joseph preferred. 81; Ohio and Mississippi
0k; Western Union, 500; Atlantic and Pacific Tsle-
graph, 20h; Pacific Mail, 21K.
cInsINa ororArIoxS