The New York herald., 1878-10-24
FINANCIAL AND COMMERCIAL.
The Stock Market Active
and FeVerish.
GOLD STEADY AT 100 1-2.
Government Bonds Firm, States Dull
and Railroads Quiet
MONEY ON CALL 5 A 6 A 1 PER CENT.
WALL STREET, /

WEDNESDAY, Ocl 23--6 r. M
The upward burst In Western Union. inauguratsd
yesterday and continued to-day, entirely un-
expected that the great mass OF spsculators
driven 10 their wits end to discover whether the
movement presages general rise In the market or
simply expresses i'm exceptional attention 10 par.
ticuiar stock. What tho traders would IKE 10 know
s whether The cass Is simply sporadic or whether II
Is tho forsrunnsr Of epidemic. Lake Shore was
undoubtedly infected day, shown BY its rise
Of two per cent-the rest Of tho market. however,
escaped Free IL affected by NO rise At
all. Consequently the traders doubts are % yet
chaotic anu not bo settled until something further
is developed. II may be taken, however. AZ gospel
that important rise or iall In the
market occurs without plausible reasons being
assigned therefor Ia one timc in Ton they
may be good ones, but good or bad. they are or the
time being sufficiently credited 10 effect their purpose
To-day there were oil sorts OF stories concerning West
ern Upion-utdelicet, that Mr.. Vanderbilt and Mr.
Gould thick thieves that pool OF 81 O00O 600
had been formed 70 hull the stock, ot which these
spectators ana we'll known operators were part
and parcel; that tho stock was 10 be increased to
$780, 0 the surpusage the existing sal 00o 900
10 be issued ~ interest bearing scp that tho 700O 700
reserved shares to be divided pro rata. and that,
Ia npe--wcii, that anything absolutely absurd and
altogether Improbable likely to happen not.
hte spectators were con 6dng such condolences us
she above each other vt low breath the price OF
tho stock was rapidly advancing from Its opening
figures OF 90 to Its noondsy quotation Of 05. From
this point gradually saggod of tas was natural II
should do with the bear interest exnaustsd) to 93X
and thsre closed. Setting aside the improbable slo-
rios afoat the solution appears be that Could
having lound excessive short interest, simply
twisted H. with the result recorded. Wo have int.
mated that Lake Shsco to-day Influenced by tho
course Of Western Union. II Is certain that some
husncs carried IT'S quotation from 67Hto cox, though
u Jailed 10 hold more than half advance In fnal
salos. Undouotedy the telegraph influence had
much TO do with the Improvement, but some iAets
made public AZ 10 the roads business probably
did more Il u stated thss the gross earnings
loF The 1rss Two weeks In October surpass those
OF the same period OF last year (Which amounted 10
81 $50, 900 and which the deemed extraor-
dinaryl by $1,000, and that October l6 alter the
proper allowance Tor Interest, charges and SINKING
fund, there was net surpus oi 900 appli.
cable 10 the next dividend This would amount 10
clean two per cent upon tho capital stock. 70 say
nothing OF the amount which may be earned and
added thereto from the the road
shs 10Th Of October and the 81st OF Decem bsr The
sttsntiou Of dealers being almost entirely confined
rest oi the market was neglected and remained with
out Significance either amount OF transactions
or sx,snt si fluctuations
The opening. highest, lowest and closing prices OF
stocks VI the Board to-day wsrs:-