The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-13
FINANCIAL and COMMERCIAL.
The Stock Market Active
and Strong.
GOLD LOWER AT 100 IL.
Government Bonds Firm States Dull
and Railroads Quiet
HONEY ON CALL 6A7 S PER CENT.
WALL STREET,


3 Northwest common, ST Paul common and Michigan
Central presented to-day all the constit uents Of
spike" team, which be driven easily enough
provided there be a skEiul hand steer the leader.
With the nrst named stock upon the lead and the
others at the wheel the whole speculative ability
the market handling the ribbons u Is not surpris-
Ing that good progress made upon the upward
turn Probably something better would havo been
aono than done had been necessary Tor the
strong team TO drag after u the heavy, numbering
slow coach, Lake Shore. upon which somebody puts
the brakes At most inoppoitune moments, and which
apparently requires general fabrication and over
hauling before be made TT vchice for service
In the bull movement Opening at co. the price
Of Northwest steadily worked up to 62H,
tho contendng parties for the control OF the election
bidding against each other with all the pcrtinacty OF
Mrs. Toodes auction, while an additional lit
Afforded by the transactions based upon the 5000
hare stra0dle which, It is ailfr mod Mr. Could has
sold TO Mr. Morgan. In st. Paul ana Michigan Gen.
ral there was some disposition to "hasten slowly"
Inc being half that tho favorite and aitrb.
ltabls rather a sy mpahetIc and neRhbory feeling
Than to any particular attention they received from
operators. In word, Northwest common supplied
be ptce de rtsistance Tor the days entertainment,
while the rest Of the list tho Yorkshire pudding
that sopped up the drippings OF speculation. As for
Lake Shore, people getting out OF patience with
II; 1t has proved tset TO be q delusion
and snare-as treacherous as April
day and as perplcxing as Chinese puzzle.
Moreover refuses to 60 up with the carrying
railroads, which exasperates the bull party twho have
been heavy buyers), and deciiEes 90 down, which
provokes tho BEARS which have chosen out this stock
rs tho only safe to 60 short or Consequently
nobody plcased and yet nobody Is able to sovc the
mystery Of its heaviDess. Such gossan as Ohio,
Wabash, Pacific Mail aud Erie were fairiy steady at
prices which did exceed the limits or per cent
Particularly this tho with Eric. the quota
Iations upon tho London and home markets being the
same Tho Ohio and Mississippi Reconstruction
Committee meet this evening, and report Is ex-
pected next week. Tho coal stocks remained dull,
neglected and without change Of any mom,ent The
contract entered with sne Syndicate TOR tho dis
posai OF $50 900 OF four and a half per
cent governments stocks IL regarded with great
favor both from the that tho national credit viii
be enhanced and that the assurance OF return TO
specie payments Is secured thereby The ooslook tor
this contamination even before the LIST OF January
next Is promising. and the chances are that the
gold premium Will be reduced to and the~foating
gold OF tho country be restored to circulation In
advance OF tho hopes Of the most sangutno.
The opening prices of stocks at the Board to-day
were follows:-Now York Central, 1oeK; Erie, Tx
Lake Shore, 664; Wabash, l9x Northwestern 50; do
preferred. 72h; Rock Island, 1921; Fort Wayne.
e0k; Milwaukee ana ~. Paul, 46k; do. prcisrred,
72H; pittsburg, 75k; Delaware, Lackawanna and
Western, S.; New Jersey Central loA: Delaware and
HUDSON Canal, 64N; Morris and Essex. II; Michigan
Central, 6sA; ILLINOIS Central, 75h Union Pacific,
67K; Chicago, Burlington and Quincy, l02k; CoiGm.
bus. Chicago aud Indiana Central 4; Hannibal ana 81
Joseph. Tx; do preferred, 49, Ohio and Mississippi
lox; Western Union, s2k; Pacific Mall, l9H.