The New York herald., 1879-08-03
FINANCIAL AND COMMERCIAL.
Remarkable Activity in
Stocks.
A FURRY IN MONEY.
Railroad Bonds Still in Demand
and Higher.
WALL STREET.


The stock market again under whip and spur
this morning and under the excitement of 'eoirs
the pace" no idea OF q possible breakdown seemed
to occur to anybody. The grangers. Lake Shore and
some of the Kansas stocks moved upward under
persistent demand and recorded the highest prices
Tor many year past. To the conservative ana eA-
perienced stock operator. however bullish he may
be in his propensites. the present rise appears to be
carried step too far. That higher values Tor div-
dend paying shares should be ultimately at
tanned is natural consequence of the cheapness OF
money and the general Improvement of trade ana
commerce. 1t by no means follows, how
ever. that this improvement is to be se-
cured in a day, that advance of values.
which should be the slow growth OF months is to be
attained in few weeks. There is such thing as
riding willing horse to death. and there are oper-
upon the bull side of the market at the moment
vino inclined to force the running. even though
they land in the knacker's yard at last however
estimabe the favorites OF the market may DC con-
sdered intrnsically it questionable whether
present prices are not being pushed to dangerous
extreme At least such fear occurs to US, ana IL Is
strengthened by the comparative statement gwen
below of prices of the Wisconsin stocks IN 1918
and 1879. Money lenders getting to be in the
doubtful Thomas vein Also Call loans were at per
cent to-day at one time. unusual rate for
Saturday Capitalist unwilling to loan within ten
or fifteen per the present market prices and
consequently there considerable hunting for
money to-day. This is likely to happen again. and
will continue happen until the folly of attempt
Ing to squeeze rise (Which should be spread over
two years. into period of six months is definitely
understood. The prevailing rise in the speculative
hacks of the market, has not, however been without
benefit to many lesser known securities whose value
speak, has been unearthed by inquring invest
ors. Among these our attention has been drawn to
the Frankfort and Kokomo Railroad Company OF
Indiana the stock and bonds Of which have been re-
Gently placed upon the board list The road is
connecting link, feeder of Wabash, is twenty-eght
miles long. has insignificant bonded debt upon
which it pays interest promptly. has stock issue
$500 900 upon which it is earning some four or five
per cent and is without any floating debt whatever.
Holders of the c., q. and l. c. securities bright
ening up under the anticipation that Justice Harlan
will on Wednesday next positively fix time for the
payment of the thirty per cent back interest due by
the Pennsylvania Company. The bonds have ad-
vanced from n 81 4 this week, and should the in
terest question be definitely settled, expected.
further rise would seem to be inevitable. The Min
ing Board still continues dull. the more so to-day
that there third call. There were fewer deal
lngs in Bertha and Edith, without change Of price.
and larger ones in Lucerne ut steady figures.
The range of fuctuation in the prices Of active
stocks is shown in the following table,