The New York herald., 1879-11-14
FINANCIAL and COMMERCIAL.
Another Exciting Day in
the Stock Market.
MANIPULATING MONEY.
Call Loans Decline from Per Cent and q
Bonus to 4 Per Cent Net.
WALL STREET.

THURSDAY, NOV. l3-o 4. NJ
II was hardly possible that the extraordinary
racket in yesterdays stock market could be kept up
without q check sooner or later and it was. there
fore. not unexpected when it came to-day. There
was further .bulging" of prices Ito coin an infn-
itive) at the opening. very material recession to-
ward noon and a recovery of about half the loss
before the end. To particularzc tho various
shauges the unprecedented list Of securities daily
dealt in would require u supplemental sheet OF the
HERALD. The best that can do is TO refer to the
comparative table of prices and transactions printed
below. The bulls who had quieted yesterdays
market with hurrah. gave tongue at this mornings
opening more vigorously than ever. and. rs a
result, the highest prices of the present rise
marked. Toward noon. However. quotations
commenced to droop. Almost every dealer. had
profit far it was figured out by pen and pencil
but 1t was another thing get this paper profit into
bank To do so required realization and realization
necessiated pressure to SELL and pressure to sell
brought about lower prices. and lower prices fol-
lowed as it perfectly natural and proper that
they should have done. Moreover. it began to be
realized that yesterdays hoist in values had about
eaten up the government disbursements, and that.
An money borrowing way. the stock market might
be reduced to the short commons OF last week. So
ut least some capitalists thought, and. thinking,
acted. as ride their endcavors to tighten money.
Sage Gould. by calling in loans and
otherwise making themselves disagreeablo to
borrowers. werc at the 'head and front Of this
offending" If so, they not to be congratulated
upon their success. for although loanabe funds for
. moment commanded q small bonus for the better
part OF the day they were to be had at per cent.
and before the close Of bank hours were obtanable
At 3 to per cent. Briefly, prices for stocks gave
way under the realizatons and the apprehension Of
tight money, and rallied at the close when both
these influences had passed away Reading-rcturned
to the market sort Of prodgal son that had been
feeding in q half-starved condition. for some years
back, upon such speculative husks the Phadel-
phia market aforded-was received to-day with open
arms and the ovation Of fatted calf q rise in
price from 13 7s provided. Later the quotations
fell back to below the starting point and eventually
closed with an improvement Of IL per cent ON the
lowest figures. Among the stocks in which there
were sharp changes to-day Nashville and Chat
tanooga. AS new claimant for speculative honors
. bit Of information may be valuable. The property
represented by quarter shares) has paid and per
cent annual dividends since 1872, and from its
plus earnings has built 105 miles of road which
addition to the property it is proposed to recoR
pze the issue of scrip to the extent of % 80 per
cent. In answer to numerous inquiries to the
status Of the Canton Company of Baltimore we
sources:-The company own the Union Railroad and
Tunnel under the city. from which the following
earnings have been derived:-