The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-09-07
The Stock Market More Active and
Generally Buoyant
GOLD TOUCHES 100 Ia
Government Securities Pirm, State Bonds
Neglected and Railways Lower.
MONEY ON CALL l-2 TO 3.
WALL STREET,

-
To the majority stock dealers to-day has been one
of wear tear both cerebral and adiposs tissues
put without o compensatory return OF pecuniary
profit After diseursivo wandering, nrst into lower
figures and second into higher snes the 2rim ariy
tive stocks closed up within fraction Of where
they had begun. Freshened up BY the weakness OF
yesterdays closing prices the bears were IN better
form than the bulls NJ tho opening this morning and
speedily convinced the market OF the iact by selling
down the whole list Tho decline, however, was both
temporary and fractional since IL was recovered from
before meridian and quite blotted out before lunch
time. II at this time swell enough" had been 'lst
alone" the highest prices OF the day might have
been recorded as the nual once, but unfortunately
for the bulls III wind which blew no
good TO anybody but to the Eous that started It
swept ovor tho market from Mr. Gould's Office, pros
trated values that were struggling upward and re-
duced quotations 10 tho level from which they had
risen. Consequently, tho operator Who had "stuck"
to his stocks tho day through found himself st the
end neither loser winner, except so far - body
ana mind had suffered from the wear and tear alluded
to- Is generally conceded that the market, with
fair chance show It's bent, would develop rise IN
prices THIS free agency however, IL thwared by the
undecided course OF the ST. Paul stocks, which,
while they resist decline, refuse to advance, and in
general way most inconsistent and pcrpisxinR
manner Being elevated TO the rank OF first favor
lies and thereby giving tone 10 general specula-
tiop their vacialing course not only dwxrfs trade
but blocks fuctu atoms In the rest Of the list.
In fact there diversity OF opinion enough AZ TO the
future Of the ST. Paul road TO stock debating society
for whole season. Tho bulls point to the record Of
the preferred stoek az dividend payer and call Il
cheap At tho m arket price they assert that the earn
pgs for 1878 Will be equal 10 1877 crop or no crop.
backing the up by figures real or Imaginary and
they assert that the serious loss IN business SHOWN
dufnp the current weeks Unfair test of the roads
traffic. since II arises from comparison Of this years
trade With the exceptional business Of the same
period last year. ON the other hand, the bears al
arm that the destruction of the will sweep from
tho road two,hrds OF business ana leave barely
enough for fixed charges 1t - probable that the
truth Is 10 be found between the extremes
OF these two opinions Bad or COED as prospects may
DO there lack Of buyers. II prices can Be made
cheap enough Ono way to procure this ID 70 induce
real holders 10 sell their stock either through repds-
ton or disgust and from oil Appearances this modus
opersnd d IL being sedulously carried out
THE ACTIVE STOCKS.
Tho number Of shares sold at the Board to-day 10
l24s53. smbracinR:-Laks Shore, 220l0; c., c., @
and l.. 2sss; Northwestern, 12,37o; Northwestern
preferred, l5,l7S; ST. Paul, lo,2s0 ST Paul pre-
ferrod. II, $50; Delaware, Lsckawanna and Western
10 7oo Eric Railway, TO- 9lo Hannibal and St Joseph
$50: Hannibal ana ST. Joseph preferred, 2o37;
M,cnieau Central 4,1lO; Wabash, 1900; New Jersey
Central 1900; Union Pacific 2Aoo; Rock Island, 100;
Cn,caQo. Burlington and Quincy, l075; Delaware and
Hudson, 600; Western Union, $3.50; Pacific Nail,
40. New YORK Central ana Hudson, $685.
THE MONEY MARKET.
Money was easy on call loans at l Il TO 8 per cent
Prime mercantile paper was SO TO per cent The
lowing vsrs the rates OF exchange on New York as
tho undermeD toned cities TO day: Savannah, buy
Ing, y offered, selling y offered; Charleston, weak,
Y discount, par; Now. Orleans, commercial SIG,
bank X; st. Louis, 1926 discount; Chicagos 80 dis
count and Boston, par.
RANGE OF YLucrUArioy.
Following are the opening highest and lowest
c,,css togethsr with the closing quotatiens:-