The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-04
FINANCIAL AND COMMERCIAL.
The Stock Market Firm and
Moderately Active.
THE LONDON MARKET STRONG.
Money Easy al S Per Cent and Government and Invest
ment Securities in Fair demand.
WALL STREET.
WEDNESDAY, Dec. 3-6 p. NJ. !

WEDNESDAY Dec. 3-6 p. NJ.
Brokers called to-day's market dull Conn
parativey speaking it so. for both in the matter
of transactions and OF fluctuations there was
manifest falling off. AS We have had occasion 10
predict. market is tending toward the occupation
of neutral ground, which at present is not likely
to DO disturbed by the incursions of either bulls or
bears. The dun days of the approaching holidays
have dampening effect upon prospective ventures
and the bothering of Congress to financial bills ID
conducive to wet banketng influence upon the
existing speculation. To-day's market was very
considerably controlled by these Influences Prices
swayed backward and forward within few points,
but the changes rather due to the buying ana
selling of the small operators. who trade en- defa"
than to the magnates of the street, who when they
deal at ALL deal en- gros An exception must be
made, however, to the street impression that MIR.
Keene was prominently represented in to-day's
market as buyer of short stocks. Whether right or
wrong the rise in Erie al time and the cor
responding Improvement in some OF the other
stocks attributed to his purchases. The street
is never satisfied with result without trying
back" for a reason, and just now the "great first
cause least understood" Of to-day's stiffness IL.
with - reason without reason. traced to
Mr.. Keene. Under any circumstances 1t is
matter of record that to-days market
was fairly strong ono and continued to the end.
AS usual Erie skinned the cream off the days
business. 1t was strong at one time weak at
another and not particularly encouraging for long
holders at the close. 1t is understood that the di
rectors meet tomorrow tor the organization OF the
board and the election of officers, and some cue
may be afforded by the proceedings to the future
course Of the stock. As it is doubtful whether
report will be made to the condition of the road,
rough estimate to what IL ought to be may BIO
hazarded in advance. Under liberal allowance. the
c.I, o 1ad, ~
from this 10 per cent for working expenses-or.
In money ST., GOO. 000-snd we have left $5.400.000
to pay the fixed charges of nearly S5.OOO0OO. This
would leave about $500 900 tor incidental expenses
and o dividend upon the two sorts Of CAPT.
tai stocks. which aggregate together some
thing like $9O.OOOOOO. Verbwm sat sapientia
We hear that tho managers Of the prominent coal
companies met to-day consider the propriety of
suspending running between the dates Of December
20 and January 10. Rumor had it that it was re-
solved not to do This would appear to be a very
wise resolution in view of the reports given forth
by the companies of the great demand which exists
and the higher prices which being obtained. It
certainly appears somewhat anomalous that the
companies should seek to choke off the supply in the
face Of this active and remunerative demand. The
Hannibal and st. 10. stocks strong and
higher. We get from headquarters that an
arrangement has been made with. the Rock Island
Company by which the trains of this road
will be run over the Hannibal and st. 10.
line and the latter companys bridge directly
into Kansas CITY, instead Of having to take the
roundabout route by way OF Leavenworth
as hitherto has been tho There will be saving
of thirty miles of journey. much discomfort
to passengers and an addition OF very handsome
sum per annum to the Hannibal and st. 10.
treasury the way of bridge tolls and charges for
the use Of their line The Philadelphia market
opened strong and higher. with free buying of
coal stocks on New York account. Dealings in
Pennsylvania Railroad were large, being stimu-
lated by purchase Of 900 shares OF this stock
from tho city, at par. by the road itself This efec-
tually does away with the syndicate story SO re-
Gently prevalent. AS this block of stock has been
regarded as q sort of sword Of Damocles. which at
any moment might be cut loose to slaughter the
market WITH the fact Of its being safely sheathed by
the company itself not only encouraged holders
of shares but materially advanced the price. Penn
sylvania Railroad closed at 81 81 Reading at IS
$50.
Total sales the Board to-day 49, shares,
against 347. 203 yesterday, and 447275 on Monday.
Following is q synopsis of to-day's Transactions