The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-10-07
FINANCIAL And COMMERCIAL.
Prodigious Buoyancy OF the
Stock Market.
MONEY STEADY AT T..
All Glasses OF Securities Adj
vancing.
WALL STREET.


Dealings in Erie to-day were pushed to an extra
ordinary extent and completely dwarfed the rest of
the market. While no stocks lower but most
of them higher, the general list inclined to stop
and take breath while the battle Of the Titans was
going on. Reference is Of course had to Vanderbilt
and Jay Gould Unless the spectators of the street
are to be picked up for greater fools than they look
to be the unanimous opinion obtains that the rise
the stock is referable to the efforts OF the aforesaid
Tor the control of the road. Without disrespect to
fther party it appears to be matter Of pull Dick
bull Devil" with good deal of doubt as to the win
Ter. In popular athletic parance there exists q
ftug Of war; between the above named
fIr. Vanderbilt being at ono end Of the rope and
hfr. Gould the other-and nothing decisive will be
known until the rope breaks and one champion or
the other comes to grief. From the well known
staying qualities of each contestant this result is
mot to DO looked for immediately. but that the
struggle will continue and tho price Of the stock
advance SO long as 1t lasts In tho Board room at
the close quotations made as high as 407s and
afterward, In quiet way. they were advanced to
AK in tho street. There were stories of there
having boon transfers of over 100000 to Van
dcrtilr aud his representatives but from good au-
thorty inclined to doubt them. Mr. Wander
bilt has not been remarkable for giving much
away under any circumstances. and he is not
likely to give himself away, would be
the were tho above reports correct.
Nevertheless the strength Of Erie the strength
OF tho market II there was any inclination in any
stock to decline the sympathetic "boost" of Erie
prevented 1t. Consequently the list was firm
throughout. and the worst to be said of it that
wherever there was no gain there was ut least no
loss. Higher prices made for Wabash. the
Hannibal and st. JOS and some of the Western
roads, due far could be seen. to the expecta
fair degree Of steadiness In the coal carriers lin
hopes Of q combination, which. being deferred by
Mr.. Packers recalcitrancy. is making the heart
sck OF the high priced buyers) and to undoubted
hrmncss for all other classes of securities which
grow bright dull under the reelected light of the
rest of tho market. Considerable attention was
directed to-day to tho revival Of animation in the
Mining Board. There was fresh start in every
thing, with Gold Placer the Blower Brown" of
speculation. From state of quiescence the deal
ins in Gold Placer suddenly to tho phenomenal
extent of something over 900 shares. The move
ment directly traceable to members of high
position upon the Stock Exchange. and on inquiry
we learn that 1t is based upon favorable turn in
the affairs of the company. 1t appears that all mat
tiers in dispute to the title of lands claimed have
been satisfactorily settled and that the mining work
will 60 without hindrance. There is debt,
and the "panning OUT estimates promise yield Of
from rs cents to 81 80 per cubic yard. Furthermore
IT Is proposed TO reduce the capital stock from
s5.ooo.0oo TO s6Oo.000. upon which sum it is ex-
pccted that dividends be paid without difficulty
There Is chance that Reading will be put upon the
Lizard list again. 1t will be remembered that the
fusal OF tho company to consent to registration in
New York caused the stock to be stricken from the
list some years ago. They are apparently thinking
better OF It now. and II is said will comply with the
rule IL rcadmittcL 10 the list. There is still
plant of tho delay In Erie transfers the consequence
OF which results In much growing upon the part Of
Stockholders.
sales at the board reached the astonishing number
Of l94 500 shares. Erie alone being dealt in to tho
extent OF nearly 100000 shares. Following is o
lvnons,s Of the DAYS busiuess:-