The New York herald., 1878-03-13
FINANCIAL and COMMERCIAL.
The Stock Market Very Ac-
tive and Strong.
GOLD STEADY AT 100 rs
Government Bonds Weak, States Dull and
Railroads Generally Higher.
STEADY AT 100 rs
MONEY ON CALL 4 A 5 AS PER CENT.
WALL SrREET,
TUESDAY, March 12-6 Z. N.


Verify Taurus is In the ascendant and is shining in
Stock Exchange heavens with all the briliancy OF
hrst class sconsteilation--orighter to-day than
yesterday, aud with rays difused-penetrating
into the where obscure have been
growing musty from desuetude and lighting them up
into something IKE activity. The spread OF the bull
movement very decided to-day, and 1t grew
weaker because grew wider The old avorites con-
iinued to hold the lead, with the Northwestern Lake
Shore aud Western Union conspicuous tor their
Btrepgth and amount OF transactions. In fact, the
speculation for a has permeated the enure
Market and the whole fraternity OF traders, If not
yet spreading the luxurious horns OF full grown
Dos, confess to an existence OF them in the vel
vet. With such cheerful state Of things 1t 10
pity that tho truth must be told. which s
that far the movement Is altogether a
mechanical one, that the partcipators in 1t the
most thorough going stock gambling nacks ana that
10 far as pubic interest is concerned II
tend block from the Board room. Some qualihca-
tion is necessary, however, in the OF the North
stocks and Lake Shore. 1t is popularity sup
posed, with good show OF reason, that Mr. Gould
has boen ana is large buyer former property
IN Iurherance Of his pet scheme OF extending his
Union Pacific connections ana OF ultimately control
ling line OF road from the Atlantic TO tho Pacific.
This, OF course, perfectly legitimate transacton
aud not to be confounded with tho purely specula-
tive operations which have followed It In other stocks,
the chief end aimed at Is to squeeze the shorts
ana finally dump tho load whenever and wherever
ocUasion offers There Is basis also Tor
a. moderate advance in Lake Shore, in
OF the TACT that the company possesses
surplus Of ST. OOO, 900 more, and that the August
dividend is more likely to be three per cent than two
Tne drawback is that reliance be placed upon
pcrmanency Of earnings. huge crop not Of yearly
W lin eR n m nderh lin tor
business and increasing facilities for lake tralic
Fixed and unpaetabe facts. Transactions IN Western
Union were again large to-day the price Of the stock
advancing 10 So from WHICH IL receded traction At
the close. II is expected or pretended 10 be expected
that the Executive Committee will recommend divi-
dend OF per cent, aud that the showing OF the past
three months work will be very satisfactory one.
Central and Hudson was worked up point sales of
2,400 shares and Ohos were galvanized to on about
the same quantity Of STOCK There Is evidence that
OF tho better classes OF dividend paying stock.
such as New York Central aud Rock Island, are bong
taken Of the street for Investment; several lots
OF the above named having lately gone this way The
coal carriers shared in the general harty, moving
up from TO u per cent; the transactions in Della
and Lack being 70 the extent OF II, 900
shares Out oil the whole list Pacific Mail pretty
nearly the only stock that was lied in duness and
made no progress. The remarkable financial opera
tion OF ship purchasing nature seems TO have
hausted feeble vital forces II possessed ot
While tho bull movement is as yet receiving ont
side aid, such may be offered in the future, through
tho pernicious action OF Congress. The Silver
unQuesti0nabiy planted the seeds OF inhaton which,
though slow OF growth, Will ultimately produce fruit,
whilo the wild and disastrous schemes OF the
nature, now being agtated In Washington, threaten
expansion the widest and worst form.
OPENING PRICES.
The opening prices of stocks at the Board to-day
were iolows:-New York Central, 106I Erie, 10 I;
Lake Shore, 621s; Wabash 1874; Northwestern, 39; +;
do. preferred Is; Rock Island, 10l; Milwaukee
ST Paul, 391; do. preferred, 71% Pittsburg, 7ON; /;
Delaware, Lackawanna and Western, AT; New Jersey y
Central Is; Delaware and Hudson Canal 47k; Morris
and Essex. 691a; Michigan Central 6l1S; Illinois Gen.
trail TAX; Chicago, Burlington and Quincy, 1OOX /;
Chicago and Alton, 69h Hannibal ana ST. Joseph
preferred, 2a; ohio and Mississippi. TX; Panama,
l30; Western Union, 797s; Atlantic and Pacific Tee-
graph. 20; Pacific Mali, 2lA
CLOSING QUOTATIONS.
The closing quotations OF stocks to-day at three P.