The New York herald., 1879-11-15
FINANCIAL and COMMERCIAL.
UndiminiShed Boom" in
Stocks.
MONEY ON CALL EASY
Governments Firm State Bonds Dull
Railways Very Active.
WALL STREET. I

There was very considerable lull in Stock Ex-
change proceedings to-day. Transactions were
fewer. and there was decided hning down OF the
excitement which attended the topsy-turvy market
of the past few days. Nevertheless. stocks gen.
orally speaking held their own. and in special in
stances advanced Opening prices were
scarcely good yesterdays Anal ones. but they
became better before the day closed. As Paris rules
France. SO does Eric the stock market
As Paris directs ths of political
opinion. so does Erie direct the course of stock
speculation. 1t wonder. therefore, that
with Erie leading the way toward higher prices.
everything else should have attempted to follow.
As Erie ITSELF it steadily worked its way upward
from As. the lowest point. to 4S the highest one'
although final transactions were made at conces-
sion OF about y per cent. The st. Louis ana oan
Francisco Railroad shares were forged ahead OF the
favorte the rise netting some to per cont to yes
terdays lucky buyers. Very large earnings arc re-
ported from this property large enough if they be
continued to promise dividend upon the preferred
shares. Reading less active than yesterday. at
prices that hardly better than steady. There
was delay in the deliveries since. between the
discharge of shares from the Philadelphia books and
the registration OF the in New York. the issue
Of new certificates scarcely kept pace with the de-
mand. ohe inclination to purchase c.. 9. and l. c.
stock continues. being fostered by abelef that CON-
promise with the Pennsylvania road on the question
Of back interest due b. tho latter to the former)
will be effected to tho satisfaction Of both parties
At any rate committee appointed by the c., G. l.
c. road have the matter hand and expect to bring
about definite settlement. Unusually large trans
actions in New Central Coal during the past week or
two have invited inquiries as to the value OF the
property. The last statement made by the company
Is under date of January 2. 1879. and from this
eo1l>. Tha of
tion in 1878 1877 1869 TONS or 1000 tons
greater than 1872 in which year the property
listed on the Board and sold at $40 per share. The
net earnings for 1878 S104.494 &c. out of which
$lO0 600 paid in dividends. There is bonded
and no floating debt The assets OF the company at
date OF report S5303. .356 "a and the liabilities
including $5OO000O of capital stock. $5.O5S 82G g.
leaving the credit Of profit and loss $24i530 80
The scheme to sell forty Board seats has been
Eed out after all. enough members having changed
their to render the opposition to the action of the
Governing Committee of no avail. 1t was decided
by this latter body this afternoon to advertise for
proposals for membership (the same to remain open
until November 25) and to entertain bid for seat
under $4,000. The accepted candidates will have
TO pass the ordeal OF tho Committee of Admissions
and be recommended by two members OF the
Board in good standing The market closed with .
good deal of strength. which was added to some-
what in the end by the easing down Of money to 3
and per cent from the threatening aspect which
per cent and 1-32 commission had given it at
time during the day. The Phiadelphia stock market
reflected tho comparative quietness Of our own and
there is nothing of importance to note. Pennsyl-
vaniA Railroad ruled between 49S and 49X. Reading
between $685. and s6zs and Lehigh Valley between
6ah aud 5as<. Other stocks were quiet and un-
changed to any material extent.
Total sales at the Board were 537 1926 shares.
against 552. .G26 shares yesterday Following is an
spitome OF the transactions:-