The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-05
The Stock Market Active
and Steady.
GOLD STEADY AT 1O1.
Government Bonds Higher, States Steady
and Railroads Strong.
HONEY ON CALL ACTIVE At 7 PER CENT.
WALL SrRExr.

THURSDAY, April 4-6P.
The strength Of prices to-day shows no evidence
that bull movement In stocks Is eithar Inclined to
fail faiter, but Il. ON the contrary, points to q
probability Of higher prices before the grand denoue
ment OF a general smash shall occur in It's proper
der. IL 10 grievous TO contemplate such . catas-
trophs even in tho future, but from the nature OF
stock speculation it exists At present seems be
unavoidable. The last couple OF weeks has witnessed
o general rise In the market. remarkable In some in
Stances important in others, and not without signf
canoe oven In the usually neglected stocks the
Of which Is legion. In many cases the ad-
vance in values has been the result
OF good and sufncient reasons. The gram carrying
roads show returns OF earnings sufficiently large not
only sponge out floating debts but even TO promise
dividends to patiently waiting stockholders Miscel
laneous stocks, lFe Western Union and Pacific Mail,
urge their claims for higher standard of pricethe
first by reason OF increased business, which they
claim 10 be receiving the second by the business
which they expect to receive should England ana
Turkey get AZ loggerhcads they devouty wish they
would do. The weak point In the whole matter
u that the speculative furore Is confined TO
the four walls Of the Board room. Peter
buys OF Paul and Paul buys back OF Peter,
but there is apostolic public to believe chor Of
the purchasers. Stocks have been battledored and
sbuttlecocked by professional operators aud hand
some score has been marked up, but the public re-
mains Indifferent to the game. SO the whole bust
Ii family matter, In which nobody benefits and
nobody suffers beyond the walls OF the Board
The precincts OF the .sreet" Yet without aid OF
public to absorb stocks at top prices somebody viii
have to suffer- and Il requires great foresight to
place calamity at the doors OF enth usiastic
buyers will ind out when too late that
while II Is easy to purchase there may be
nobody to sell to. For the st. Paul
stocks and Michigan Central there were
an advancing market ana higher range OF figures,
which gave tone TO the rest Of the list, II they
failed 10 better quotations The Northwesterns re-
NAMED quiet and steady in the absence OF any demon
s,ratiou upon the part OF their friends Western
Union crept up TOR reasons previously given. Lake
Shore though continuing to b. the prime favorite rs
enigma dealers from the fact that the outpour oil
long stock continues whenever . strong market
Offers. Coal stocks were fractonay better, and the
market generally closed with much nrmuoss and
~ strong quotations
OPENING PRICES
The opening prices OF stocks ut the Board to-day
were as fohows:-New York Central, I07; Erie, 1Oa;
Lake Shore. 654; Wabash, 1sX; Northwestern. 4S1S;
do. preferred. 70; kock Island, 1928; Fort
Wayne. 90; Milwaukee aud St Paul. AK;
do. preferred, 73ls; Phtsburg, TN; Delaware,
LacKawanna and Western. SAY; Now Jersey
Central IT; Delaware and Hudson Canal, OAK:
Morris and Essex, Tx; Michigan CentraL IS; Ill.,
nois Central, 751; Union Pacific. 6sh; Chicagn,
Burlington and Quincy. lolx; Chc,go and Alton,
s3n; HANNIBAL aud 81. Joseph. Tx; do preferred,
26sI; ONO and Mississippi OK; Western Union, SIX;
Pacific Mail, 2l1.
ouo