The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-06-27
FINANCIAL and COMMERCIAL
The Stock Market Fairly Ac-
tive and Strong.
GOLD STEADY AT 100 5-8.
Government Bonds Firm, States Higher
and Railroads Strong.
MONEY ON CALL EASY AT Q A 8 PER CENT.
WALL STREET,
WEDNESDAY, June 26-6 T. n

WEDNESDAY, June 26-6 r. ".
The Roadway givcn TO Lake shore during the
closing hours ofyesterday enabled II TO forge ahead
m additional point this morning, we'll tow the
rest OF the market its waKe; consequently better
prices were made for nearly everything. As usual,
Lake shore won the palm and bore it, as II deserved
to do Tor the gnitude Of transactions, though its
popularity was enhanced by some large purchases
which rumor placed TO the account OF the financial
agents OF tho road and by impcati to tho OF
hr. Vanderbilt. Tho impression thus conveyed
cadied the stock nearly top prices for tho OF
the day. though no further advance beyond the gain
referred 10 obtained The coal stocks were strong
ana higher There was some anxiety yesterday lest
the Board OF Control might experience some trouble
with its FESTIVE member, the Lehigh Valley Company,
and the combination be endangered thereby; but
nothing Of the occurred, the concern In question
wheeling into line with the others with rcassurng
and commendabie alacrity. The increase in the
schedule rates OF coal by the company and BY
Delaware and Hudson the improved prices OBJ
tAned to-day the Delaware ami Lackawanna's auc-
ton salo OF $4,000 tons helped materially 10
strengthen prices Tho striking event OF tho day was
tho sudden and unexpected Joueursemet in the Rock
Island property. In very few minutes and without
warning tho prico won't down by the run from 1l7H
TO 1155s. splendid chance hereby offered to the
OF the street TO exercise their functions
in discovering reasons for the drop. ara
they shortly reported . story almost iden-
teal with that printed this column
somo ten days back. and which requires repetition.
The committee TO whom was referred the dcvsing
of scheme BY which the surplus earnings OF the
company might be legally distributed to the stock
holders will meet tomorrow, and, It is card, viii
ommend the following plan:-A new company to be
formed TO represent the surplus in question by tho
creation OF 900 scrip, In the ratio Of twenty-five
shares OF scrip TO each 100 shares Of Rock Island
stock, the said scrip to DO held in trust but not TO be
issued, and 10 draw such interest may DO left
aftsr paying eight per cent to the holders Of Rock
Island stock proper Rock Island having been ad-
vanced upon tho belief that something tangible would
be divided, naturally declined when It reported
that the surplus would be made to
sumo the shape OF mythical invest
ment that could not DO touched At all.
However, there does to be any better ground
for THIS last statemen than there tor the many
previous Ones and bchooves holders possess their
souls In peace until something official Is proclaimed.
Western Union retained Its persistent strength ana
Wabash and Pacific Mall were IS persistsnty weak
The rest Of the list was more than steady and with
decidedly better tome through tue whole Market
OPENING PRICES.
Tho opening prices OF sIocKs At the Board to-day
follows:-New York Central. 109h Erie, 49,;
Lake Shore. 6sh; Wabash, 13; Northwestern, ~;
Northwestern preferred. 7lX; Rock Island, lis; Nil
waukee aud St Paul, 5o7s; Milwaukee and ST. Paul
preferred, s01; Delaware, Lackawanna and Western.
5sK Now Jersey Central, BY: Delaware and Hud.
SOC Canai, sex; Morris and Essex SO; Michigan Cen.
,rsi. SO; Union Pacific, 645< OHIO and Mississippi,
TX; Western Union, S6s1; Pacific Mall, Is
CLOSING QUOTATIONS