New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-11-03
De felt OF reserve
under LEGAL re-
Qu.rtrlgTfS


Gu.rcmonis.... ss2.7o0 s3ll.sOO Inc. $ee9lOO
The stock market to-day opened with genuine
"boom." the first prices OF many stocks having been y
20 per cent above the last figures Of Friday night The
remarkable of the market that tese prices
either were improved upon fully sustained AT the
end and this in the face OF a continued striugency
money that for Saturday is unusual IN stringent
fines After the the Board IL reported
the report has been since conhfmeO that the
Government would purchase SlO,0oOOOO OF g
DER cent bonds for the sinking fund. II was
strongly suspected that early aovlccs Of such
an intention received 10y certain leading operators
caused prices 10 be remarkably stubborn to-day IN
the face OF slt The facts are that the Treas
urY has iuvi ted proposals. until November ITO be
opened that day. Tor The sale OF SlOOOOOOO United
States FER cent bonds the rsht reject my
and all Ces made. There are only ~2s3 OSl35C Of the
q per cent bonds OUTSTANDING ana none Of these pay
able before December 81. 1850 Therefore the holders
OF bonds at liberty 10 fix their own prices FOR
price Of the s. Of 1851 about 1OSs aud OF the O. Of
1880 (only about 81 100000 ou.standne) lOiss.
Lately the transaeiio,s IN both OF ines" classes Of
bonds have hecn very small t1ry S2,5G0OOV IN the last
four montASl and therefor" unless the Department is
present market prices, the Offer purchase is likely
donbtedy the ''bus" making great calculations on
The effect II The Offer both TIE rates for money and
the prices ~ stocks carry neNi week. ana as they haVe
gone home tonight quite jlpiiaa' the situation,
Is almost rtGn thai tncy Wi hud vent Tor tteir
h2Taor m .9e s sSr sggs iI teS Ton
the way eiif there we've SPECIAL i.aurs thar attracted
higher al 80 rose TO 39la ended at ,s7s "a INST
37s. IsdaY Hannibal and 81 Josolh 80, is were
eagerly purchased. tic common at from - 20 39ls,
against 36ss. and the preferred from 6.l2 to 65s0
o.. against 0O@. yesterdays hnGl price. Why these
stocks ate selling SUch figures no knows. and
present seems 10 The BUYERS - yesterday
nave opportunity 10 make from 10 > Der ccut on
their purchases which gives them confidence HAT they
can make 10 per cent. The - Louis Kansas CITY
and Northern and Wabash stacks were excited and
higher. wabash, however at Co.'S its closing price. is
relatively pa per cent TOO HIGH with 81 Louis. Kansas
City and MOI thern common and preferred stocks az - =
and 7Oi respectively The 81 Louis and san francisco
stocks we're notably bnoyant. Us also was 81 LOUIS.
Iron Mountain aud Southern, with advance 20
o. 1850 Missouri Kansas and Texas stock sold up to
297sQ.93 on the supposIiOn that tho Wabash cOmbna
tn was ID assume control oi the property. with the
first bonds per cent Instead OF
per cent rs proposed 10y The Chicago, burlington and
ouiney Company This Is rather illogical sequence 10
confnuauce OF the first charges AT their former stand
bur perfectly consistent with the present spec
u,aOn coal stocks better, but he transac-
lions betrayed degree OF feversnueSs perhaps as
tie oufroi "A reaction in the rOu boom" Erie
rose 40l2 AZ, finally selling az IFS Lake Shore
was active, final sales showed decline OF &
Der cent. while Michigan Central gained l, Canada
bOuihern 2. and C., c. c. and |. per cent.
The market closed firm.
RANGE fHE STOCK MARKEf.
AsretCrfcd bV the GOtd and SOcs T,lsJraDh comDanp