The New York herald., 1879-11-23
FINANCIAL AND COMMERCIAL.
a Surprising Rebound in the
Stock Market.
EVERYTHING GOING Up AGAIN.
Favorable Bank Statement, ana Munty
Lending 6 to Per Cent.
WALL STREET,
SATURDAY. Nov. 22--6 p. NJ

SATURDAY Nov. 22--6 p M.
To-day has beea one of surprises. After the
rattlng which yesterdays stock market received no.
body looked for the signal recovery in prices which
occurred day. 1t came. nevertheless. contrary 70
the teachings Of all Stock Exchange experience and
to the upsettng of all precedents that have hereto
fore been considered unalterable as the laws OF
the Modes and Persians. None of the old rules
which governed speculation seem to be worth the
trouble of remembering. In this phenomenal mar
ket ali signs fail Judged by the history OF the past
under similar conditions, to-day should have been
one of weeping and wailing 1t was nothing OF the
sort but tho contrary. cheerful and chirpy. In
stead crying split milk the whole speculative
community was upon the alert to skim the cream
afforded by the chance of new rise. There was no
lack of opportunities to do SO. for. without excep
tion every stock upon the list showed decided re-
covery from yesterdays lowest prices. There was
something even more than a recovery" for in the
schedule Of prominent stocks the market was buoy
ant Erie Delaware and Hudson Irop Mountain,
Lake Shore the San Franciscos and dozen of others
were as quick to go up to-day as they were to go
down yesterday. 1t is true that the heavy loss
scored against them only partially retrieved but
a most unexpected progress was made in an upward
direction. This partially due to the fact that
investors with idle money lying in bank were liberal
purchasers and that large spectators on margins
quick TO see tnat tnc unuue oppression ouereu
safe opportunity for fresh dyer There is
to believe that yesterdays depression "fuke"
after all. The true inwardness of the bear move
ment is to be traced premeditated design to
break Erie without thought as to what the effect
would pe upon the rest Of the market To assist
this the preposterous story of sale of 100000
shares of New York Central to Mr.. Gould and an
English syndicate devised and set going. The
scheme was successful in breaking Erie, but. what
was neither anticipated desired. it broke the
rest of the market This certainly did not suit the
books of MI. Could who his own stocks suffer
in sympathy just at the moment when he was
checking largely against his Western railroad pur
chases. From all accounts, however, it suited the
books of Mr. Keene who is reported to have sold
Erie short to the extent of some 10000 shares
and to have bought them back at handsome
profit. While it is indubitably the fact that the
market for time slipped away further than it was
intended it should, it has been brought back again
to a stable condition by large purchases by leading
spectators. There is every to believe that
the magnates of the street again ranged upon
the long side and that their interests directed
toward attaining higher figures. Our Philadelphia
despatch shows the market there to have been
greatly influenced by our Prices were higher
at the opening and there well distributed or
ders for all leading securities at advancing figures.
Reading sold at 34 3i Lehigh at 1884, Pennsylvania
Railroad at 40, Northern Pacific common at 34 pre-
ferred at 55H and Lehigh Valley at 5lai. Messrs.
Cadwalader, Evans Co. quote Reading at 343 in
final transactions and Pennsylvania Railroad at 4S3s
The market was well sustained, though shade
lower prices was submitted to at the end.
Total sales at the Board to-day SAT 721 shares
against 662 900 yesterday and GS3 900 Thursday.
Following is q synopsis of to-days Transactions