The Rock Island Argus., 1879-11-13
Last Nights Dispatches.
KEW YORK

NEW DIRK. Nov. IZ.-lhe excitement
in the Stock Exchange to day was unpre-
cedented, even in that body. and prices
went up rapidly and to very high figures,
varying so rapidly that they taxed the ut
most capacity OF the stock telegraph in
struments to report them and orders pour
ed in 50 continuously from all parts of the
country that brokers 10 many instances ex-
perienced considerable difficulty in execut-
ing them. Nearly the entire list partici-
pated in the activity and many stocks
heretofore quiet became prominent 10
dealings. The large and increasing traffic
of railroads, consequent upon the general
revival of business throughout the country
of course had much to Go with the con-
dition of affairs to day. but in a number
of instances there were special causes at
work to put up this or that stock The
greatest advance was in Nashville, Chat
tanooga & St. Louis, which sold up from
694 to SO, closing at 794 on statement
that the president of tue company had
quietly bought controlling interest in
Western 4 Atlantic, which runs from
Chattanooga to Atlantic aud is regarded
as The key to the Southern railroad sys
ten. One of the principal features of
the market was the large transaction in
Erie, chiefly IN common stock, which rose
cent. The upward movement of these
stocks, and also in bonds,is based upon the
large and increasing traffic of the company
and the general improvement in the con
dltlon OF the property. The earnings foT
October were over 100000 greater than
those of the same month last year, which
was one OF the heaviest months for busi-
ness in the history of the road. Again the
railroad company owns a large amount
of e., c., G. [. railroad stock, which
has recently advanced greatly in value,
and now represents 10 the assets over
$l,000,000 The advance in granger and
coal shares continued and .they rose la
- per cent coal stocks being favor
ably affected by the announcement of a
general advance OF fifty cents 10 the price
OF coal, to take effect Dec. 1. Telegraph |
shares, which nave been inactive for some |
time, took sudden upward turn. Western |
Union advancing a and Atlantic & Pacific |
81 per cent, with a reaction of II per cent |
respectively. The rise was attributed to |
the enormous business of the Western |
Union and its leased lines, growing out of |
the great activity OF the trade markets and |
the greatly increased improvements in |
stocks and grain. In final dealings a |
buoya1t tone prevailed and the market
closed at an advance on Friday ranging
from | to 10 per cent. St. Paul 4 Sioux
City common closed at 429, the preferred
at 73. Pullman Palace Car stock sold up
to $1.06(9l.09, against $l00 a few day
since. The rise is due to reports that the |
cars OF the company are to be used by the
entire southwestern system of roads and |
by the lines west of Chicago. 10 addition
to the influence mentioned above fur ther |
impetus was given the advancing market
by reports that $4,000 600 more bonds |
will soon be purchased by the government |
sinking fund. These reports are probably |
based upon the fact that for the first ten |
business days of November the customs |
and internal revenue receipts have aggre |
gated over $l.000,000 a day on an aver
age, and the receipts from customs alone |
for the first nine days Of this month aver |
aged about $625 600 u day. This will
result in large surplus revenue tor the |
current month and its prospective contlu- |
uatioD, which may be locked upon as as |
sured, will enable the secretary OF the |
treasury to purchase more six per cent |
bonds early next mouth. 10 the mean |
time, however, at the rate the stocks of
al speculative description are going UP, 1t |
will not take long to use up the surplus
$4,000, 900 thrown into the market by |
the recent purchase. Substantial brokers
are requiring substantial margin and |
some have lost accounts because of the
refusal to carry stocks on five per cent |
deposit. The Central Pacific paid into |
the treasury to-day at ashiugtop, 1920 |
0G0.