The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-11
FINANCIAL And COMMERCIAL.
Revival Of Activity in
Stocks.
MONEY RULES AT y.
Government Purchases the
$lO,OOO,OOO OF Bonds.
WALL STREET, I

MONDAY. Nov. l0-6P. M.
The information that the Secretary of the Treas
ury, after business hours Saturday. had been
offered and had accepted something over $4,000 900
of bonds his bidding price OF 106. and that the
remaining 81 600, 600 would undoubtedly be forth.
coming to-day. set the stock market simmering
Sunday and brought it up to the boiling point this
morning There was decided and general inn
provement ut the opening right through the list. The
coal properties got the best Of it. prCbably because
the shorts in these stocks are more easily scared
than any Others and because the prospective ease
up in the money market threatened the uncovered
shorts with punishment, even the vigilant
"cop" threatens the street gamin who ventures
to bathe in puris naturaibus of the city piers.
Moreover. there reports of steady Improvement
in the demand for coal at schedule prices and fair
expectations that the output Of the companies will
meet with ready buyers ut rates which promise to
be even better than those now ruling. Under these
influences Delaware and Lackawanna rose from 90<
to 9Sh, and New Jersey Central from slA to S6h-
the former closing at the best price Of the day and
tho latter about one-haf per cent below it. The
greatest advance Of the session was In Lafayette.
Bloomington and Munce. which rose from 6S1s to
So. but afterward lost per cent Of the gain. The
sudden paroxysm in this stock due to the off,
cal announcement of its consolidation with the
Lake Eric aud Western road the terms Of the same
first named companys stock and issue
OF the latter company's shares to the extent
of 81 900 900. There better prices made to the
extent OF from to per cent in the generally active
list but it was done without excitement and upon the
stimulus, pure and simple. of easier money. Before
three O'Clock Mr.. Sherman had successfully bagged
his recalcitrant S4.OOvOOO and filled his bid for
$40 000, 900 Of bonds. Against these purchases hs
paid out 81 900 900, which money borrowers got the
benefit of. Nothing per cent was paid for &c
commodation to-day and toward the close it was ia
be had to per cent. cheaper. Notwithstanding
this significant let up the loan market stocks did
not bounce up with any hurrah. but responded
quietly and steadily, as it behooved healthy
market to do. At the end quotations were
a shade lower finishing however. quiet and strong.
As announced. meeting Of the Board was held this
afternoon consider the proposition Of selling forty
seats to outsiders in order to procure the amount
needed Fay for the adjacent property recently pur
chased by the Stock Exchange. As the proposition
had already been voted down by the ballots Of men,
bers recorded during the past week. there moth.
ing further to say about it. The meeting. however,
unanimously ratified the purchase of the property.
without bothering themselves with any projects a.
to how it was to be paid for. and further recon-
mended to the Governing Committee. that the con-
stitut:on be amended to raise the par value OF
seats to $50, 900 and the entrance fee 10 81 900.
Total sales the Board s5S75 shares against
271 o5s ON Saturday. Following is synopsis OF the
sales:-