Daily globe., 1879-09-30
MONEY AND TRADE.
FINANCIAL.
Mouey and stooks.


New YoBk, Sept. 29.- Governments Arm at i'd
vanced prices. Railroad bonds strong and higher.
The feature Of the market was again enormous trans
actions In Erie seconds new consolidated, which ad-
vanced 1 per sO,x. The next largest trans
actions were In Erie seconds per cents funded,
which advanced lh per cent. 10 78h. The largest
rise was per cent in New Jersey Central conyerti-
bles assorted and the next per ct. in Alton Terre
Haute unconvertible. The Commercial says: "There
Is no question that the new election for managers Of
the property let who will succeed, Win place seconds
bonds, Including the per cents, under the same
mortgage and on much higher plane Of credit than
80 per cent" Cleveland, Columbus + Indiana Cen
trail Arsts brought 7sH. State securities dull.
Stocks-The leading feature at the stock exchange
to-day was Erie, which, amid great excitement and
under extraordinary transactions advanced to 84N
for common and 83 for preferred. In early dealings
a very buoyant tone prevailed and prices advanced 4
@3N per cent, Michigan Central leading In the up
ward movement with Lake Shore & Michigan South
en, Granger and coal stocks also prominent In the
Improvement In the afternoon under sales to real.
ize prof the general List reacted per can't, while
New Jersey Central fell off az, Hannibal + st. Joe
8, aud st. Paul h Sioux City per cent. In late
dealings the market became frmer and there was
partial recovery. The transactions aggregated 464,
900 shares, which is the largest single days business
since the hours Of dealings were changed. The
early rise In Erie was due to an advance ut London,
increased earnings and revival OF reports that Van
derbt Gould and Field we're buying, that the board
of directors would be reconstructed at the October
election, that E. D. Morgan would be made president
and that the London trustees were In sympathy with
the programme. The Graphic says: "The bulls
argue that Erie is the only trunk line stock that has
not up to this time largely advanced while Chicago
& Northwestern, Milwaukee & st. Paul and Lake
Shore l. Michigan Southern have advanced from so
to 80 per cent Erie has remained stationary. It Is
now generally believed that Gould and Sage have
bought and continue buying largely Of stock under
IN arrangement with the Erie trustees, by which Erie
will be the eastern connection of the southwestern
combination, The recent large purchases Of Pacific
Mail are based upon statements that the indebted.
ness Of the company is being rapidly reduced and
its financial condition is consequently greatly Inn
proved. a 5s ;7ttl aacc
At the close transactions aggregated 46 900 shares
Of which $4,000 were Erie; 1000 Lake Shore 4
Chicago & Northwestern; 1900 MllwanKee + 81.
Paul; 27 600 Delaware, Lackawanna Western; q,
COO New Jersey Central; IL 600 Delaware Hudsor
IL 900 Michigan Central; 10000 Union Pacific; 5000
Cleveland, Columbus, Cincinnati h Indianapolis;
1900 Cleveland, Columbus Indiana Central; 49, 600
Hannibal q St. Joe; 49, 600 Ohio mississippi 5000
Western Union: $500 Pacific Mall; 400 st. Lous,
Kansas City l. Northern; 5000 st. Louis 4 Iron
Mountain; $500 Missouri Kansas 4 Texas; 400
Louisville & Nashville; 249O Houston + Texas; $500
st. Louis & San Francisco; 200 Kansas Pacific;
10 Indianapolis, Cincinnati Lafayette, and 1000
Northern Pacific. 2&51
Money sos, closing at per cent. Prime mercsn-
bills firm at 6II; sight exchange New York 631s.
The following we're the closing quotations: