The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-14
The Stock Market Active
and Very Strong.
GOLD 100 10 A 100 IA.
Government Bonds Lower, States Steady and
Railroads Irregular.
THE BANK STATEMENT.
Money on Call Easy at 2 8
Per Cent.
WALL STREET,

WALL STREET, !
SATURDAY, April I3-t r. u.
It not possible that fav0rite stock as Lake
Shore could 10 tho doldrums Tor any length Of
time without attracting nelp from some quarter, SO
when an active speculation was started to-day and
the price carried up from 66 TO 67X at tho close no
great surprise created. According 70 street re-
ports, which a usual thing nearly wrong
as they right tho new departure has been taken
under the Incentive OF slang Of tho trade
il known as "straddle," privilege 10 receive
deliver u certain number Of shares within fixed
time at fixed price, In the present instance tho
story goes that Mr.. Keene has sold SUCH privilege
upon 10000 shares tho time being sixty days and
the equivalent $50 600. Tho necessary sequence
would be operation in tho Stock which
in this case has been buying one,
with the result noted Tho advance. however.
was only partially due to this transaction. Lake
Shore about tho only bear pit IN the market
whore full grown bruins and trading cubs nave deemed
themselves reasonably safe from the attacks OF their
foes the bulls aud consequently It was startling this
morning to hnd themselves tho victims OF misplaced
confidence There was but thing 10 DO and that
was to scamper, and scamper they did from bow
window 10 Broad street. covering their shorts and
adding fictitious valuc to quotations II 10 not to Dc
supposed because the old favorite has been re.
enthroned, that the Northwest speculation was
allowed TO suffer- On the contrary II was pushed with
unaUated perseverance. The control OF the electio
IL stu tho bone Of contention, and to-day's wrangle
was savage enough 10 further advance both common
and preferred stock severaly TX and pcr cent In
fact, the market advanced 10 greater or less
degree aud the bull impulse was more strongly
developed than has been tho case tor many month.
To the various arguments in favor Of rise which tho
bulls adduce additional presents itself in the
expansion VIII ch would arise from return 10 specie
payments In fact the financial situation has greatly
the syndicate and the premium on gold has dropped
10 4 paItry quarter per cent. With this out OF The
way and kept Of tho way the gold outside OF the
Treasury is converted from merchandise nto money
and many millions are added TO tho currency Of the
country Under this infation-an Initiation founded
upon solid values and upon mere promises 10 pay
an important advance In all descriptions OF property
would seem to be Inevitable. recognition Of this
fact by tho public and disposition 10 act IN accor-
dance would 70 DO tho one thing needu to help
the market on to sill higher prices
OPENING
The opening prices Of stocks at the Board to-day
wero as follows:-Erie, ll5s; Lake shore, COZ; Wa
bash I9l4; Northwestern, 5lT; do. preferred, 722s;
Rock Island, l02x; Fort Wayne, 90h; Milwaukee
and st. Paul, AK; do. preferred, 723s; Delaware,
Lackawauna and Western, 561; New Jersey Central,
| 18L: Delaware and Hudson Canal, 54ss; Morris and
Essex Tx; Michigan Central, 70: Illinois Central,
| 7bh; Chicago Burlington and Quincy, 1921; G., q.
| and l. G., 4; Hannibal and 81 Joseph, IL; do pre-
forred 81; OHIO aud Mississippi 10; Western Union,
| S2A Pacific Mail. 10. 81
Ms CI0sNG ouorAT Ioxs.