New-York tribune., 1879-01-29
SECOND CALL O'CLOCK p. M
rnIRp cALL.-2;3O O'CLOCK p. NJ.
TUESDAY. Jan. os-P. ".

".
Another large business was done IN stocks to-day
the transactions amounting TO 4J2.IOO shares Of
recorded sales, and this record probably repre-,
sents far less than the actual transactions. The
first hours business gave no indications Of the s
rOus break in prices that was TO occur later in ths
day; in fact the market generally opened higha
than the close of yesterday, and IN some instanca
made further advance. But just before midday the
ball got started down hill, and saving temporary
check continued to roll in that direction for the
mander of the day, so that the final prices of the
speculative stocks ranged from lis per cent
for Ohio and Mississippi TO 52i per
cent for ST. Paul common lower than the
last sales of yesterday. The theories advanced to
account for the decline were as numerous as were
the operators. One insisted that supposed promi'
nent &" bear" had put his foot upon the market as
first step in q systematic campaign against the mar
ket Another thought the cliques had sold out thes
stocks and him at the same time, and third
knew there was trouble in the bull camp, be.
cause one of their number, being a little lane,'
had begun his retreat in advance OF the Others.
There is doubtless grain of truth in all OF the va.
riOus theories but considering the large and
rapid advance in prices that has occurred within
the last few days. reaction that still leaves prices
about as high as they were on last Friday without
any great stretch of the Imagination might be re-
garded as the natural effect of natural cause.
Ii was St. Paul common stock that exhibited the
first signs OF danger This stock opened at 4s3, and
advanced to 4s3 against 473, its highest and lass
price yesterday. From this price II reacted TO AZ
rallied to 473s and then broke 10 43I2 Later 10
sold ND to 45l4, and then down to ~ at which 10
closed after recorded sales Of 81, 600 shares The
preferred stock opened at s3l2 and sold down TO
S14GSl3s having tuctuated in unison W wlth tho
whole market after the fashion OF the
common stock. Northwest common sold as
65G61, the preferred at SSl2d Sidsll2 Canada
Southern at 56l2a S3iG51Q54l2, Lake Shore az
7440747sG 713s, Michigan Central at S9d S949
S60S7, and Ere, which stood the strain about as
well as any stock, at 26l2d244G2iSs. Wabash
declined from 247s to 203lG2l, ~. Louis. Kansas
City and Northern from 37l2 to 3i3i, and Ohio and
Mississippi from 1913 to 93 the preferred stock be-
ing offered at 2S without sale, against 81 g yester-
day. The investment stocks generally were lower.
Central and Hudson selling at 1l6a ll5, Rock
Island at 127 against 12S yesterday a l214 Chi
Cleveland and Plttsburg at 1888 against 92Is yes
terday) a92, Fort Wayne at 10l against lO6t,
Union Pacific at G6l2d66, and Illinois Central az
sS0s63t. Chicago and Alton was higher az ssGs7's.
The coal stocks suffered with the general list or
railways; Delaware. Lackawanna and Western
selling at 55l24 J5osG 50G 50l2. Delaware and
Hudson at 4544l, Morris and Essex at S6lsGSll3
393i. Western Union was an exception to me
general rule opening at 0S, it advanced 10 W.
declined To 967s and recovered To 91as. The e1.
press stocks were steady and Pacific Nail sold az
l3liQ127s -
is unlikely that those who recently were the prime
movers of the market are by any means out OF
stocks, tomorrow may witness tone OF dll-
ferent character. At all events, there IL every
probability of an active and excited business.
xANGE OF THE STOCK MARKEr
AsrpOred byne Gold and stock Telegraph Company