The New York herald., 1879-10-08
FINANCIAL and COMMERCIAL.
Stocks Very Active, but a
Shade Weaker.
MONEY ON CALL AZ.
Governments Stronger, State Bonds Neglected,
Railways Active and Ragged"
WALL STREET. l
a. u a II NJ

TUESDAY, Oct. TO +. M
As everybody knows yesterdays market closed
with raging. tearing speculation III Erie which was
only choked off, to speak, by the sound of the in
evitable gong 1t is no wonder. therefore. that 1t
should have taken fresh breath this morning and
have appeared more rampant than Although
closing at Al yesterday tho opening price to-day was
close upon AZ, the quotation, like Jonah's goerd,
having grown up to the latter figures during tho
night. AS it turned this was tho high water
mark OF the day, the low water mark being made
very the close business when the official tape
recorded fall OF something over three per cent.
Between the AZ points of the opening and the
30 points of the afternoon there were variations
in prices sudden and frequent enough to satisfy
the taste Of the most fastidious of operators did
they happen be either bull bear Shortly after
two O'Clock however. the set of the became
strongly downward. Somebody. who apparently
has been saving stock at the spigot began to spill
at the bung, ana the consequence was that the mar
ket became drenched with shares. The outpour
simply enormous, and the only wonder was that
with the wetting 1t got the stock stood up well
1t did. AS usual there considerable castng
about for clew to the operator who had ruth
lcssly upset tho financial apple cart well as the
hopes of the bulls. and with singular unanimity
Board room opinion pointed. with what Justice we
know not. to Mr.. Kceno AS against this recession
in Erie there occurred seo in the report that the
London direction had signifed to Mr.. Vanderbilt.
by cable, their willingness to support him at the
November election. The Erie speculation entirely
abrorbed the popular interest that the rest Of the
market comparatively neglected. In the main
prices somewhat higher. though there were
individual instances where they irregular and
lower. The Hannibal and st. Joseph stocks and
Wabash frightened up considerably as though they
desired to greet Mr.. Gould on his arrival with
smiling face, and Iron Mountain rose per cent
the excellent statement of earnings and
tho report that tho negotiations for tho
Texas Pacific extension would be brought to a salts.
factory issue. There further advance also in
Ohio and Mississippi apparently without reason and
In American and United States Express stocks which,
being directly and greatly benefited by the
vival in trade have, curiously, been almost
entirely neglected by spectators for rise.
Western Union declined per cent from yester-
day (the other "Richmond in the field" becoming
day by day moro formidable antagonist, and Pa
chc Mail fell off u per cent. possibly because the
steam has been shut off for the present In spite of
the weakness in Erie the market whole remained
strong and the sympathetic decline slight
While spectators at liberty to choose the boar
side of the market tho bull side thoy think ft
there is undoubtedly but safe side and that is
the outside. The Manhattan Banking Company yes
terday elected Mr. J. ]. Baldwin, who has been
twenty-six years in the bank to the position of
cashier. In the Mining Board there was continued
animation and large dealings in Gold Placer at well
sustained prices 1t is rumored that there is a
siderable short interest, which may be uncomfort-
ably squeezed.
Total sales at the Board .0ss shares, Of
which 1S9 900 were Erie common. Following is IN
epitome of the days business:-