The New York herald., 1879-11-30
FINANCIAL and COMMERCIAL.
Stocks Active, but Feverish
and Weaker.
MONEY RULES AT 5.
Governments Strong, State Securities Dull
Railway Bonds Heavy
WALL STREET,
IN a II "


Like the weather upon an April day. the course Of
stocks this morning was attended by sunshine and
cloud. Very good prices made in the morning.
moderate at midday and decidedly bad ones in
the afternoon. In other words. the market opened
strong and closed weak. The Vanderbilt syndicate
transaction momentarily gave squirt to the list put
when its true nwardness was understood the Market
gave way. Erie gave way most of all, falling to-day
from As to AZ, at which point or nearly it remained
ut the close The ups and downs Of this stock con-
tnue too mysterious ever and dealers IN II are
entirely befogged as to the reasons which send
the price mounting one day and stampede it the
next. The great sale Of Central aud Hudson
continues to be a matter of discussion.
There seems to be Misrepresentation respecting
some of the minor points of the negotiation 1t is
not true that the terms have been changed go that
only two new directors 60 into the New York Central
Board Mr. J. Pierpont Morgan and Mr.. Cyrus w.
Field were yesterday admitted to tho Board-the
former to represent the bankers in the syndicate
and the latter the Wabash system of roads. Mr..
Solon Humphreys will go into the Board at future
day, according to the original plan. There seems
also to be impression that the New York Central
stock may come on this market through the indi-
vdual members of the syndicate. This cannot be,
rs no single member OF the syndicate
can sell the part OF the stock to which he
affair is that capitalists have been found to
invest their money in this stock which they cannot
sell now, obtain possession of before the end Of
1880. until which time the management is conhded
exclusively to joint committee in London and New
York named by the parties in interest. In answer
to many interrogations to the actual condition Of
the elevated railroads have obtained the follow
ing particulars, which are deemed reliablc:-On
Wednesday last tho "L" roads carried $4,000 pas
sengers and the receipts were close upon $4,000.
With the completed reconstruction OF the Ninth
avenue line which just now carries only half its
usual number of passengers. with the opening of
the Second avenue line in January. the extension
Of the Sixth avenue line to South ferry. the OPEN
ing of the Thirty fourth street branch next spring
and the connection Eighth avenue and the Harlem
River with the Boston aud New England Railroad is
claimed that the roads will carry least two hundred
and twenty-five thousand passengers per day next
year. This weuld enable them to pay per cent
the Manhattan Company's stock and leave a surplus
On January the first quarterly dividend will be
paid the guaranteed stocks. leaving surplus of
$GO0,OOO nearly per cent, to the credit of the
Manhattan Company. In general fashion the
stock market gave way at the end, the whole list
following with more or less alacrity. the decline in
Erie Central and Hudson and the other stocks to
which Mr.. Vanderbilt is supposed to stand god
father The consequence was D decldeuly weak mar
ket at the end and perfect dearth of prognostica-
tions among the street prophets as to what Monday
is to bring forth. In mining shares business was
fair to middling. We note some activity
in Little Pittsburg to-day and we welcome
it as a sign Of greater activity in the
more valuable mining properties which have hith-
erto been overlooked. There is no reason why such
mines as this should not be dealt in as freely rail-
road stocks. Indeed, when compared with many of
the latter which ind representation on the Stock
Exchange, they may be regarded as quite as valua-
BILE at present and infinitely promising of sat-
isactory returns in the future. Our despatch from
Philadelphia represents Pennsylvania Railroad as
opening at ga full head of steam" and with the
price at 51il Reading opened at 361S and Lehigh at
ssh Afterward there was decline Of to per
cent Pennsylvania Railroad being the weakest OF the
list After slight rally fresh decline set In and
Pennsylvania Railroad fell to 497s and Reading to
S4I. Closing prices were heavy and made at the
lowest figures of the day.
Total sales at the Board to-day 457 $50 shares.
against 5Os,O22 yesterday. Following is = synopsis
of to-day's trunsactions:-