National Republican. (Washington City (D.C.)) 1872-1888, 1879-11-13
FINANCE AND COMMERCE.
MONET1RY MATTERS IN VIEW YORK
And SIN FRANCISCO.
New York Money Market.

NEW YoHK, November II, 1879.
Money was quite easy and loaned down from
to per cent, closing ut the lowest point; -.,
Exchange was inactive but iariy steady at 400
for long and iS2@iSS for short.
government bonds were strong ana e per cent
higher for new 5s coupon, new as ana new Is.
State bonds were quiet ana nominaly un-
changed.
advance of / to 9 per cent The great feature OF
the market was the enormous purchases of Erie
issues, which advanced sharply, new, seconds
consols rising from S1A to 90 and funded bs from
S3l2 to 81 In the new second consols the transac,
tons aggregated about 81 100000. The upward
movement in these bonds also In the shares, Is
based upon the large and increasing traffic of me
company and the general Improvement III lIle
condition of the property There were asq iaige
transactions IN the Kansas & Texas, Texas Paclhc
and Mobile & Ohio issues. Kansas " texas Sec
onds rose from a to dSA and reacted TO AZ. Texas
Pacific land grants rose from 723 to 70, and fell of
TO 10 Mobile K Ohio iirsts debentutes rose from GO
TO Ga; second do from 40 TO 10; Chesapeake Il Ohio
firsts from 57S TO 5S1E do currency Is from 3O to
32M: Boston, Hartford IL Erie iiTss from 47A to
49ss Lake Erie q Western incomes from G2 TO Gi
Jersey Central adjustments from 1881 to l03Ig do
incomes from S73s to sG American Dock IS from
1887 TO 1906 do assented from l0j to lO7 San Fran
cisco seconds, class b. from Gll9 to g. and Wabash
ex-convcrtibles from 81 to 0jl3 Denver and Rio
Grande hrsts advanced to 063I; Rome y Ogdens-
burg lrsts to G7 ST. Paul & Sioux City frsts to o.
md Ohio e Mississippi Springfield division( trsts
70 G3. Kansas Pacific incomes No: II fell OIL from
20 to n, while do No. l6 rose from "a to ~.
The stock speculation was on scale of magni-
tude never before equaed, the transactions having
been enormous ana tue dealings uttenueu WIN
great excitement The prevailing tone of the mar
ket was the buoyancy which extended, without
exception, throughout the entire list The greatest
advance was In Nashville Chattanooga q 81. Louis,
which sold up from G91i TO SO, closing at 79A. One
of the principal features of the market was the
large transactions in Erie, chiefly i'll the common
stock, which rose IL per cent; the preferred ad-
vanced per cent, The upward movement in the
Granger and coal shares was continued, and they
rose to ~ per cent, the coal stocks being fayora-
bly, affected by the announcement OF general nd
i'll the price of coal of five cents TO take effect
December l. The telegraph shares, which have
been inactive for some time, took Il sudden upward
turn, Western Union advancing AZ, and Atlantic
d. Pacific So per cent. with subsequent reduction
of and "a per cent. respectively In the miscella.
neous share list Chesapeake ohio first preferred
showed the most improvement, advancing Ga per
cent to 29JI, purchases Of these stocks being re-
duced by the report that the company had con-
tracted TO extend its Southern line from Hunting
ton TO Lexington KY, and also an extension TO
Mississippi C c Il G. Alton IL Tcrre Haue, Iron
Mountain and Mobile ~ Ohio were also notably
strong. In the final dealings strong and Duoyunt
tone prevailed, an advance for the day ranging
from to 10 per cent.
The sales aggregated G236OO shares, including
Eric lG3 100 Lake shore l449O Wabash 1900, North
west 1900, St. Paul 2j,l00 Delaware Lackuwanna
d Western 20,9OO, New Jersey Central ll,200 Della
ware Il Hudson 1O600 Michigan Central $500,
Union Pacific 1900 q G & G 10000, Hannibal Il st.
Joseph 1850, Ohio q Mississippi 22jO0 Western
Union 454OO Atlantic 4 Pacific II 900, Pacific Mail
1900 St. Louis, Kansas City ~ Northern 1850 Kan
sas & Texas 26,O00 Iron Mountain $4,000, Northern
Pacific $500, St. Paul 4 Sioux City $500 Indianap-
oils Cincinnati IL Lafayette 10000, Chesapeake "
Ohio u 100, Alton d Terre Haute 600 st. Louis "
San Francisco 9,IOO and Mobile IL Ohio 7,iU0
The closing quotations were us follows.