The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-30
FINANCIAL AND COMMERCIAL.
The Stock Market Active
and Strong.
Government Bonds Active States Dull
and Railroads Strong.
Money on Call Easy at 2 a 8
2 Per Cent.
WALL STREET,

WEDNESDAY, JAM 20-6 T. NJ
Although considerably scared by yesterdays break
lown in stocks the bull contingent inclined
This morning to meet the views of that celebrated
but apochryphal navigator. Who upon being refused
admission to the ark. expressed his belief that the
down pour was nothing but shower after ALL"
Judged by events they were right in their conjec-
ture, for the storm Of yesterday gave way to fair
weather to-day. and "a the clouds which lowered
threaeningy over tho speculative house passed away
without any especial wonder" upon the part of good
bulls. who believe firmly in higher prices to come.
Speaking for the bull party, yesterdays "dirty"
weather cleared away before the close Of the first
hours business. and. with the exception of
siona cloud there bright skies to the very end.
Plainly, tho market. which staggered during the first
hour or two though 1t had taken drop too
much the day before. became firmly planted upon its
legs by meridian and walked of for the rest of tho
day like female pedestrian doing her quarter miles
In quarter hours. From noon to gong sound the
progress of the market was interruptedly upward.
Almost without exception the proverbially active
stocks advanced sufficiently to regain at least two
thirds Of yesterday loss aud in the Of Western
Union the rise meant considerably more. From 97%
the price rose to 1918 aud closed within quarter
per cent Of these figures. Points to buy
bristlcd like q chcveamr de tiise and were as
abundant as those to be found in a paper
Of pins. They were ascribed first to Mr..
Vanderbilt railroad king and were promulgated
secondly, under benefit of clergy. by speculative
divine. Backed up thus by God and Mammon 1t is
not surprising that they should have obtained ready
credence. Some points in regard to Western Union
were old. some new. TIE assertion that the COM
pany is greatly increasing its earnings is authenti-
Gated. Two per cent is confidently expected for the
next quarterly dividend. Jay Gould Is counted to
be q dead cock in the pit, and longer able to
dehantly with the threat of opposition limos. Tho
cipher scandal at Washington has snubbed any pres
emit possibility Of ABSORPTION of the tee
graph business. From one. another. from all Of
these causes Western Union benefited and became
the prominent speculation Of the day. Delaware and
Lackawanns recovered per cent from the early
depression, although the coal sale showed a
decline in prices of from to IS cents
per ton. In Canada Southern, Michigan Central
and the Northwestcrns there nh improvement of
from to per cent and there scarcely any stock
upon the list with any pretence to popularity. but
showed an advance upon opening prices. Strength
cned by fresh short interest and the demand Of
smaller bulls, who influenced yesterday to let
60 their grip. it is fair suppostion that the market
will resume its upward course until it again topples
over by sheer overweight
The opening, highest, lowest and closing prices of
stocks at tho New York Stock Exchange to-day
Were:-