The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-03
FINANCIAL and COMMERCIAL.
Stocks Active and the Market
Stronger.
MONEY RULES AT 5 TO 6.
Governments Buoyant States Dull Rail-
way Bonds Irregular
WALL STRETr,

The bull and bear element upon the stock market
Is rapidly nearing an equilibrium in point OF i'm
portance and both parties are willing to acknowl
edge that the immediate future is fraught with
doubt. The outside public is still suffering with UNI
cured wounds. Congress expected to shilly-shaly
on matters OF finance which, whether they come to
something nothing. will nevertheless disturb the
market. and in addition there are the Christmas
holidays close at hand, which have always acted
heretofore and likely to act again as potent
quenchers to an active speculation Forecasting the
future in this way safe to predict that for
some weeks to como there will be no startling
changes in prices. but that with moderate
ups and downs the market WILL remain
fairly steady until the fresh bull move
ment Is inaugurated in the early spring. In this
Huttering condition the market was to be found to-
day. There alterations of strength and weak
ness, as though the market were malarial patient
that had picked up attack OF chils and fever out
Of the recent breakdown in prices and was in
,lined to grow hot and cold by turns. In COMPARE
son with the business of couple of weeks past the
market dull. There were no demonstrations
upon the part OF the great operators and the Rumor
Committee was silent though as they say in the
woollen market. "there fair inquiry for
yarns" The coal shares both quiet and
strong. In referring to the Reading road yesterday
we wrote that "the employees Of the company are
put off with promises to pay in the shape of
due bills having thirty days to three months
to run" This statement has brought down
upon the indignation Of the Reading Company.
who. with some disregard to polite choice of
words, wired over to Mr.. Herman that 'there is
truth in the statement in the money article in this
mornings HERALD with reference to their company.
They have invariably paid their miners in cash. but
have issued scrip bearing interest for the payment
OF railroad employees" We submit that this is
actly what stated, in slightly different language,
that 'the employees of the company are put off with
due bills having thirty days to three months to
rum. The Reading people are to DO credited with
possessing unusually fine appreciation of the diff
ference between tweedledum and tweedledee bnt it
does not do away with the fact that our statement
correct that they wledged it to be So and
that it does not apply at the moment to the miners
we'll to the railroad employees. it would
have done so but little time back. due bills
were paid out equally to the hard-fsted coal
digger to the "gentlemanly conductor" AS
usual Erie was most prominent in the days
speculation, the extremes in quotations being
81 and 393S, with decline Of about y per cent
from the highest price at the close. sale of $4,000
shares Of Western Union by prominent Arm at
tracted attention, but the true inwardness OF the
transaction remained in the dark. The sale
made at Jog, but the price subsequently to 1O7
and there closed. The grangors were steady.
but comparatively neglected. The increased receipts
of wheat at Milwaukee and Chicago would
seem to intimate that the railroad earnings had in
creased well. The Philadelphia market dull
Today. and fluctuations were limited to ana
half per cent. Reading-resigned to the traders
was active at fractional changes Lehigh dull and
shade weaker; ditto tho Northern Pacifcs. Pennsyl
vana Railroad steady at FIRST and then strong, on
demand supposed to emanate from friends OF the
company. Messrs. Drexe Co. being ''given up for
the purchases. 1t is rumored that the financial COM
mitee have decided not to sell the 10000 shares be-
longing to the city Pennsylvania Railroad closed at
5Oia and Reading at 343a.
Total sales ut the Board to-day BAT 203 shares
against 447.275 yesterday. Following is synopsis
OF to-day's transactions:-