The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-04-14
IN AND our or WALL STREET.

Tho fear OF tight money market has
passed away. Saturdays bank statement shows
u gain OF over four millions in the surplus re-
serve call loans are made at per cent. and
everything looks lovely again. The street is
full OF bulls, and the few bears st remaining
alive are rctreGtng Ms fast as their legs will
carry them.
How long this rampant disposition Of the
bulls is going to last is another question. The
crops in Kansas and Nebraska are reported 10
be- in very poor condition. In the Northwest
farm work has not begun yet. owing to the
back wardncss OF the season. Most OF the great
railroads show decrease Of earnings coupled
with a considerable increase Of trafIic which
means extra wear and tear Of the roads at ruin
ously unremuncrativr rates. The managers II
the great trunk lines have boon in almost per-
manent conference since last summers Sara
toga days. but they have not yet discovered the
means Of preventing the cutting Of rates below
paying figures. The Southwestern Railroad
Association held out for some time. but broke
ts freight pool on Saturday last
All this combined with the protracted litiga-
tions between several OF the roads. ought 10 de-
press railroad securities. But money is so
plentiful aud investors are So anxious to find
employment for II that all common sense con-
illusions drawn from facts aud figures have TO
Dc lut NStt's topper tue ulflhlfS OF lhkl's anu
you are sure 10 be- right. This has always been
the law Of Wall street, and it is working now
more stringenty than ever.
The plethora Of money and the speculative
craz ness actually seem To be so great that the
regular list Of the Stock Exchange does not any
| longer satisfy the community Every specu-
| lHtor takes n hack now and then at tho light
innrics Of the Mining Board, and several min
| ing securities have been recently put upon the
! list OF the Stock Exchange. Ontario and Home
| stake shares have become staple articles Last
woek the Standard mine was added 10 them
| The operations in this stock began some weeks
| ago 10y "A private subscription at $50 n share
| The security seemed To be very respectfully con-
nected. II was at all events. highly recon-
| menled. having paid a llty-cent monthly diyi-
| dcnd for many months past. Yet the moment
| 1t was put on the Board down it went from 3j
to &c. and the grecnhorns who went in for a
rise had, Of course. TO pay the profits of the en-
terprsing gentlemen who started the affair.
| Tho mine may be Il very good ono in itself, but
| in the eyes Of the simple minded fellows who
| got cleaned out on the sure point, the trausac-
ton must appear very much in the light of a
fishing expedition for what the late Commodore
Vanderbilt used 10 call suckers"
Speaking generally. Mr., David G. Croly's
| prophecy tnat there would arise "a widespread
interest in precious metal mining" seems to bo
| in process Of realization, Nevada and Colorado
mining stocks begin to be almost as much Mt
| home In New York as they are in San Francisco,
There are now several firms in Wall street that
make a specially OF them. Prominent among
these is the house Of 1Iessrs. Sternborgcr Of
Broad street. They have several influential
and wealthy correspondents ont West One OF
these. known to be tho best authority on every
thing connected with Nevada mining wrote the
other day from Virginia City TO the Mcssrs
Sternberger:
Yesterday was visiting at the mines Sierra Nevada
has RNtreN large bOidcN ui that their l. dOup
Of when ne stock Is gone M ~ viii 60 Nerel high At
once may Drup from WheHr II L. Bat then Louk
out it VIE so higher than Last summer Shure Union
aud Mexican hlIti big buy sand u you VIII bus
them and holc ana not nj Brake you will make
Great Deal ct monn,l Tor the onr Is In the mines op
| Is Biz BuN.-Hhd viii ray a di radvnd ia les than
! months Thv scorpion Is u govd aud eheape Buy til,