The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-13
FINANCIAL and COMMERCIAL
A Buoyant and Excited
Stock Market.
.ctIA
MONEY RULES AT Z.
Everything on the List
Going Up.
,NEY RULES AT Z.
WALL STREET,

WEDNESDAY, Nov. 12-6P N.
Apparently the Stock Exchange moon is in the full
again and every speculative lunstio is bowling in
response to its influence to tho top OF his bent In
the degree of excitement manifested in the volume
Of transactions and in the rise OF prices few prev
days. II any. have exceeded the present one All
this was due to the disbursements from the Treas
ury In payment Of the bond purchases and to the al
dtional million sent into circulation from the
Assay Office Something like 81 10000 or $i20o'ooo
have been turned in to appease the appetite OF
furnishing money market. and. from all appearances
they geen gobbled up in todays rise in STOCKS
Like the child whose Christmas "tip' burns III
his pocket SO long as 1t lasts. stock spec
ulstors have largely awaited themselves or the gov
eminent "tip" to buy pretty much everything that
was offered for sale long the $l2.OoOoOo held
out. It is consequently nice question whether the
rise In prices to-day has has not used up the adj
ditional facilities for speculation afforded by the
government disbursements. Nevertheless. two
things were established todsy-frst. Ave per cent
money markets and. second. roaring advance in the
stock market. AZ the general rise, which ranged
anywhere from to 10 per cent. Is given in detail
below 1t would be work OF supererogation to re-
peat the particulars here sufficient to note that
Erie, Iron Mountain. New Central Coal. Western
Union. Nashville and Chattanooga and Delaware
and Hudson were the most prominent stocks
was decidedly the favorite. The street is
full of points and they all tend regularly
way do the points Of pins in paper. conser-
vatve will be content to take 50 for their stock
before the year. while enthusiasts will
hear Of nothing below 60 = 70. Possibly with an
intention to encourage this idea 1t was reported in
the street that the Erie earnings for October ex-
cceded S20O0.000. The smart rise In the bituminous
shares was due to the then relative cheapness in COM
parson with the snthractes and to the fact that the
market is positively bare of soft" coal either for
steamer or domestic Both the grangers and the
vahderbilts were stronger and higher. but specula
ton rather tended toward the lighter Western roads
and to the bidders for popular favor. Taken as
whole the day remarkable for buoy
ant and wonderfully sustained market, prices
at the close being within fraction Of the best ones
Of the session. The Phiiadelphia market seems to
have been counterpart Of the New York one in
way Of excitement though in comparative amount
Of dealings it is to be regarded through the big
End OF the telescope. Stocks were active the day
through. with the highest prices at the close. Read
Ing advanced rom 34la to IS. being stimulated by
The correct information that the stock would be
placed upon the New York stock list tomorrow
Pennsylvania sold ut 49H and so. buyer 90; Lehigh
Valley closed at 54il. Lehigh Navigation at 39,S.
Northern Pacifcs were strong and Influenced by
New York Quotations-the common stock being
36< and the preferred 61 at the close Of business
Money appears to have been more active than here.
and 1t is reported that brokers found difficulty
In making their accounts without submitting to
. shave.
Total sales to-day. 500 shares against 249.175
Yesterday. Following is synopsis OF the ssles:-