The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-10-10
FINANCIAL and COMMERCIAL.
Stocks Duller, but Stronger
Than Ever.
MONEY RATHER STRINGENT.
Governments Firm, States and
Railway Bonds Active.
VAIL oIHEEI,
THURSDAY. Oct. 0--O L. ".

THURSDAY, Oct. y-O II. Nj
The extraordinary activity of the stock markct--at
prices which under the of circumstances hold
their own and under the best advance-stl con-
tinues Conservative spectators who read present
events by the light of past history nonpussed
and give up the prevailing condition Of things an
unguessable conundrum. The market ought to
break away. but it doesn't The wise heads say that
1t is kept going by mere force of propulsion was
Mr.. Pckwick's cab horse. which was only kept upon
its legs by pair of large wheels and short bearing
rein. The blockheads (who. by the way. making
all the money! say that they are having blind luck
upon the bull side and mean to it through coute
que coe. 1t is not to be denied that far. they are
right and will continue to be until the bubble bursts
As matter of course the Erie speculation to-day
far ahead of the rest OF the list in popular estima
ton. Opening ut yesterday closing figures of $685. it
quickly moved up to 39A. during the day fell OFF to
the opening price. and finally closed ut 3ozS bid
Thore two notable things-trst, the ex!raord-
nary amount Of transactions. and second the readi
ness with which the market sponged up tho outpour
Of stock. 1t was very evident that while there were
good sellers there equally good buyers, or
svon better ones. tho street price. after Board
hours. OF 409S would go to show. There is hardly
doubt now that MIR. Vanderbilt controls the stock
and that the Gould party have been left to cat tho
leek of defeat There less doubt that Jay Could
has boon larger seller and that Vanderbilt been
the absorber OF his shares. In no other way can
tho strength of the market under the pressure of
the extraordinary Offering of shares DO accounted
for Having stood the racket with SO little loss
Eric looks to us better than Although Broad
street stock brokers not inclined to regard Mr..
Vanderbilt financially immaculate most people
upon the other side Of the water inclined to do
Consequently we'll grounded assurance that
no has obtained o control o: Erie would u hot
buying of shares both in tho English and German
markets. Meantime. IL the above be true. poor Mr..
Gould is being left out in the cold. with his Eastern
extension cut Off like the tail Of terrier. Still
there is balm in railroad projects there in
Gilcad, and the Stock Exchange has found one for
Mr.. Gould and has applied 1t in tho shape Of the
Chesapeake and Ohio road. Spectators in this stock
suggesting that to Mr.. Gould. in cxtremities for
seaboard outlet (now that Erie is cut o) this route
would be 'just the thing" and probably upon this
theory have been working tho stock up to higher
figures. Tho coal stocks were especially strong to-
day. not so much upon the probabilities Of o cOmbi
nation upon the sounder that higher
prices for their product may be legitimately de-
mandcd and obtained. An informal meeting OF somo
OF the coal managers held to-day to consider the
propriety of advancing rates fifty cents
per ton but In the absence Of Of the leading
representatives OF the companies nothing was done.
In the Mining Board there was an unusual excite
ment. due to large dealings and sharp advance
in Gold Placer. which rose from 81 this morning to
AZ a. the close. Tho stock appears to have been
taken hold of by members Of the Stock Exchange.
and the is said to be based upon the clear
ing up OF embarrassing litigation to title"
and the encouraging returns from noighboring
mines.
Total sales ut tho Board to-day 500 SAT shares.
The following is an epitome OF the days busi-