The New York herald., 1878-12-01
FINANCIAL And COMMERCIAL.
The Stock Market Active
and FeveriSh.
GOLD 100 IA A 100 rs A 100 IL.
Government Bonds Firm, States Steady
and Railroads Strong.
GOLD 100 IA A 100 rs A 100 l..
THE BANK STATEMENT.
Money on Call Easy at 2 1-2 a
8 1-2 Per Cent.
WALL STREET.

SATURDAY, Nov. 10, 1878.
Whether II was that the bulls bclated this
morning that the bears put in unusually early
appearance, certain it is that the stock market
showed weakening tendency and gave way fraction
or two from opening prices. This condition OF de-
preston was however. Of short duration An ar
rival of the bulls in force quickly carried things their
own way. and before noon the decline had been re-
covered from and stocks sent booming. This favor
able effect most particularly experienced by the
ST. Paul shares next to them by the Northwestcrns
and next again by Lake Shore. 1t is begin
ming to be inquired why the Northwestern pre-
ferrcd stock should be selling at 77is when
the st. Paul preferred stock is selling at
Tie. For four years back the latter stock has
divided per cent per annum, irrcguiariy
it is true but surely, while the Northwestern stock
Of the grade has offered nothing better than u
certain and paroxysnal responses to tie demands or
stockholders. 1t is the fashion to-day however. to
back the Northwcsterns for rise. and as general
thing they get the of popular attention and the
bulk of the days business. Reports of extraordinary
earnings continue to be widely dsscminated-a mat
ter OF $4,000 being given the increase for the sixth
day Of the fourth week in Novcmbcr-bnr there Is
nothing said about the sparse earnings Of last year
and the almost entire stoppage Of business as result
of the then existing mud blockade continuance of
the creased pole business again observable in
Lake Shore to-day. The price, after clnmbcring up
to 70',, slipped back to 69ls and there rested at
the close. The point Of 30 or within fraction
thereof, to present stumbling block insur-
mountablc to Jew Gentle. fresh rattling of the
dry bones of the ordinarily torpid stocks was dts
played to-day by revived activity in the c., {. and
l. G. shares. which advanced from s52s to So per
share The first mortgage bonds were even stronger
in comparison, sales having been made as high as 5S
When the price Of these securities at 43 some
three months ago we had occasion to suggest that
the buyer would find money in Them" and the cor
roctness Of the surmisc is proved by todays quota
tions. Friends of the property who have been
patiently waiting for Judge Haran's decision expect
it within few days; confident, from the testi
mony offered at the trial that it must be made in
their favor, and free buyers of the stock
upon this supposition A decision in favor
OF the company would require paying over of
twenty-oight per cent of back interest by the
Pennsylvania railroad upon outstanding bonds, and
should fayorably effect the values of both bonds and
stock. The share market, which had shown Sam
sonan strength up to two O'Clock. began TO yield at
that time. and subsequently turned complete SOM
crsault The paramount and pernicious influence
which brought about the decline WAS traced to the
Gold Room. In desperate attempt to break the
share market Gould appeared buyer Of gold at
l0Oss-his intention being to squeeze money and
break stocks This is pretty dirty sort Of business
for individual but is drter yet for the National
Bank which is helping him, il there is any sort Of
credence to be lent to street reports. macontcnt
OF the Gould description who deliberately endeavors
to thwart the execution of the nations will,
pressed in the act Of resumption. merits short
shift If not merry one, and in most other countries
he would get IL.
The openuQ. highest. lowest and closing Orices Of
stocks and gold at the New York Stock Exchange
fn11n