The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-26
The Stock Market Active
and Strong.
Government Bonds Weak, States Dull
and Railroads Strong.
THE BANK STATEMENT.
Money on Call Easy at 1-2 a
2 1-2 a 2 Per Cent.
WALL STREET,

SATURDAY. Jan. 25-6 +. NJ
The stock market continues advance without let
or hndrance and prices which looked dear yesterday
seem cheap to-day. The old staaers of the street
who have been looking for reaction, confess them
selves to be utterly obfuscated at state OF things
which goes dead against any decline whatever. 1t is
argued that Stock Exchange history like that of the
world at large, should repeat tself-but 1t doesn't
Consequently the solons of the Board room are all
abroad as to their opinions, while their trading
brethren who do not aspire to the possession of
particular wisdom gather the shekels. stock
market pertinacously sustained as is the present
one is phenomenal. and it passes the memory of man
to recall its parallel. That is to say, if the
said memory be not carried further back than the
times when were frequently treated to
taste of something of the same nature. Since 1878,
however there has been nothing like it, and the
city Of stock market which seems set upon going
only one way is perhaps astounding to the old
school operators than the rise itself That values
were to advance a natural result of resumption
and consequent imitation of the currency was APP
1fent enough. but that speculation should take the
Dit in its teeth and run away with the market was
scarcely looked for. Indeed. this reckless mode OF
travelling is hardly to be wished for lest the market
Ike a runaway team. may end in serious smash up
There exist however, certain elements Of a safety
brake nature which have not been applicable before
in years, but which applicable now and tend
greatly to check the chance of disaster. These
are to be found in the born but very
extensive interest which the public is taking in the
market. Since five years there has been nothing ap
preaching to the demand for stocks from outside
parties that prevails at present and the ciques who
gave send off to the upward movement find that
their accumulated shares when offered for sale
absorbed in manner that is almost stcrous. TO
this demand may be ascrbed the pertnacity Of the
RISE and what is much more important, the immu
nifty of the market from disastrous break. The
whole list continued to exhibit adamantine strength
to-day to the accompaniment of extensive transac
tons. 1t was irregular. however. some stocks show
ing great elasticity while others content simply
to hold their own The most prominent in the
former category was Michigan Central which being
held off the market in comparatively few hands. has
virtually corncred itself. There consequently
. sharp demand for stock the part of the
bears for purposes of delivery, and under this and
the buying of spectators and investors the price
from "a at the opening to 81 in the afternoon
Apart from the fact Of large short interest existing
there quasi official report that the next two
per cent quarterly dividend had been already earned
and the quotation proftcd accordingly Next in the
Delaware and Lackswanna and the common stocks
Of the grangers. The remainder OF the market cx-
hibited sticking qualities rather than advancing
ones, though ut the close there not weak spot
In the whole list
The opening, highest and lowest prices Of stocks
at the Board to. day were follows:-