The New York herald., 1879-12-12
FINANCIAL and COMMERCIAL.
ter Activity and
in Stocks.
Strength
AN UNEvENTFUL DAY.
Money on Call 4 to 6 Per Cent Railway Bonds
in Brisk Demand.
WALL STREET.

THURSDAY. Dec. 1l-G P. NJ.
There is but little of interest and nothing to
be said about to-day's market. There was good
deal of strength and q fair amount OF business.
There was nothing. however. which approached
Samsonian demonstration upon the part OF either
bulls or bears Allowing for an occasional hitch.
which caused temporary setback. prices were vol
sustained the day through At the very close there
partial Weakening but not sufficiently serious
to affect the general fact that the market fond was
. strong and rising As We have had occasion
heretofore state the speculative sentiment il dead
set toward higher figures and there Is every reason
to anticipate its realization. or course by ana py
(which may mean many months hence) there Will Do
q grand tumble over Meanwhile there appears to be
little to swim against the current "Vtcdmus dstm
Vipdmas appears to be the rnle and II the specula
tive life is to be short one all hands are agreed to
make it q merry one This expected hiarty is
founded upon the widespread faith IN higher prices
They may be made before the holidays or they may
be made after them but. sooner or later. they are
confidently expected. Operators. forccaatng the fu
ture are taking time by the foreock and laying
in q supply OF stocks against an event which just
now seems inevitable. This theory fact. 1t may
be regard ed from different standponts, seems to
count for the prevailing strength Of the market.
Prices peremptorily refuse. to 10 down. and whom
they decline to 60 up they stand STILL To-
day. in the majority Of cases. they went up
The strongest stocks were Central and Hud-
son, Erie. Pacific Mail. Nashville and Chattanooga
and Wabash. Pretty much everybody had point
to buy tho other. report, circulated early
in the day. that Mr. Keene had retired from the Erie
direction was devised with view of affecting the
price OF the stock. 1t fe fat. contradiction OF
the report later fell fatter Nobody seemed to
whether Mr.. Keene was in or was out. and quo
tations were scarcely disturbed one way or the
other. On its own merits. or. what Is moro proba-
BILE. from speculative reasons only. Erie was the
trump card in the mornings deal and was played as
winner to the extent of about IL per cent in the
game Of the day. So far from Mr.. Keene resigning
1t is stated that under the representations of an
English capitalist largely interested in Erie at
present in New York. he has been induced to change
his views as to the undesirable nature Of the prop
erty aud will henceforth devote his energies to .
profitable development Of the same. Almost without
exception the tendency In other stocks was upward
How much achieved in this respect will be
discovered by consulting the list of prices printed
below. Messrs. Prince & Whiteys special despatch
from Philadelphia reports affairs there to have been
~ follows: The market opened dull. and for time
operators seemed to be in doubt which way to turn.
but LATER under the lead Of Now York. they decided
10 buy and prices which early tended downward.
improved. Most conspicuous were the Northern
Pacifcs, which advanced to 331 for common and
IS for preferred: Pennsylvania remained quite
steady at 5O5s sos; Reading declined to 353s and
rallied to 35%; Lehigh Valley weak and sold at
6lM but improved to 50. Operations were not large
In any particular stock but the tone was good The
market closed firm at quotations. Messrs. Cadwala-
der Evans Co. report the closing prices of Penn
sylvana Railroad at sos sos and Reading Railroad
ut S5h 25;S.
Total sales at the Board were 313632 shares.
against 2s1 $50 yesterday and 2s4. .s3A Tuesday.
Following is q synopss of to-day's transactions: -