The New York herald., 1879-08-30
FINANCIAL And COMMERCIAL.
Stocks Steady and Fairly
Active.
M Q N E Y l. O w E r..
Governments and Railway Bonds Strong
and Brisk.
WALL STREET,


4 .ftt, FRIDAY, August 29-6 p. M.
ALLOWING for occasional perturbations. the stock
market maintained the character for strength
which " had assumed during yesterdays closing
hours. and at the end of the session decidedly
Arm. even II it fell short of being buoyant The
Improvement was directly traceable to the easier
terms for money. Loans ut all times readily
obtanable at sx per cent. and before the close OF
bank hours borrowers of respectable standing pro-
vided with comparatively decent list of collatersls.
we're plentifully accommodated at Ave. 1t is APP
parent that the attempt Of certain leading bears to
put the screws on the money market has been aban-
doned for the present; very wisely it would appear,
In consideration OF the large shipments OF bullion
which are being made from Europe. the still
larger ones that must inevitably follow and
the consequent abundance Of money that sooner or
later will be massed at this point. The failure of
the crops abroad and the demand which will neces-
sarily arise for American breadstus cannot fail to
create continuous flow of gold to this country.
which must greatly add to the ease of our money
market. Here is where i'll winds literally
blowing somebody good for Jupiter Pluvius. spread
Ing destruction by storm and tempest through Eu-
ropean cornfelds. is forced to WOO the Damn Of
own abundant harvests under the guise of shower
OF gold. The stock list was strong at the opening
and stronger IS the day grow older, but had
the look OF being somewhat tired out at the end.
In plaan English. closing prices were not mp to
the best ones Of the day. the pronounced weakness
in the coal shares and rather signfcsnt SELL
ing of the grangers producing something Of chill
on the market. The anthracites were depressed the
day through, partially because they were subjected
to the hammering of one or two prominent bears
and partially because Of the Encouraging feature Of
the coal trade. Michigan Central was weak aud de-
ciined ~ per cent. The probability that the Grand
Trunk Of Canada will effect such extensions toward
Chicago as will create formidable opposition had
adepressing influence. 1t is reported that the Bur-
lington and Cedar Rapids directors met to-day and
consummaed the lease to the Northwestern road. In
consequence of this action and very foggy rumOr
to the effect that the unissued $4,000. 900 Of capital
stock would bo divided. pro rata, among the share
holders, the price advanced from SO to 63H and
closed with the latter figures bid. Some complaint
is made that the bullion recently received from
aroad is 30 tied mp by the red ape arrangements Of
the ubTreasury that the consignees unable to
obtain 1t until after delay Of four or ave days.
Some years ago the existing law permitted the Sub
Qreasurer to advance currency to nearly the value Of
the imported bullion but this law has since been
pealed. and consignees are now compelled to wait
until such time the bullion be converted into
coin. -t -
The extreme fluctuations Of tho day in leading
nhsres are shown in the following table of urces