The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-10-18
FINANCIAL and COMMERCIAL.
Lower Prices in the Stock
Market.
M Q N E Y E A s I E r .
Government Bonds Firm-States and Rail-
ways Dull and Lower.
WALL STREET.

FRIDAY. Oct It's p II.
Tho direction OF to-day's market bears out the
opinion expressed in yestsrdays article that for the
time at least the bull movement had run its course
and that with the shutting OF OF speculative steam
prices would slow down to the dull level of steady
market. oven if they did not drop below it, In
general way the prediction has proved to be fact;
for while few stocks have done better than hold their
own. many of them have lost their mold to . per-
ceptibe degree. There was $50 so' frmness in
opening prices, irregular flashes of strength and
weakness between times and considerable debility
at the end; in fact the poorest prices OF the day
were made at the close. Judging from appearances
the rampant bull movement has come to halt.
There was risk OF riding willing horse
to DEATH and tho bulls have only stopped short OF
doing it, The question now arises as to what IL to
be the future Of speculation. and tho query OF
"what do you think of the marketa" is put to every
operator whose opinion IL worth having. The
answer is not altogether satisfactory for operators
are pretty evenly divided to whether tho market
Is going to tend upward to tend downward in the
immediate future. We venture. however. to predict
that should period of comparative dulness set in
(which is quite probabe). lower prices will be made.
There is no fun and less profit in carrying light
Weighted stocks under tho handicapping Of a tight
money market. unless they advance in price day by
day under the hurrah Of . general bull movement.
LOT tho uurrbu cease Huo tuo aoVbuce CehAcs
appreciation Of the properties in the eyes of holders
also. general selling movement follows as
q matter Of course. and with it decline in prices
that is not confined to the fancies but by sympathy
spreads to the best stocks upon the list. There Is
evidence that matters may take this shape and
that speculation which has been excited to fever
heat may be cooled down to tho equitable tenn
perature OF real values. Except that the market
to-day was very irregular, being strong and weak
by turns. and in general way without significance.
there Is little to be said. There additional ac
tivty and considerable strength in Lake Shore,
founded upon q revival Of the very problematcal
story that tho Central and Hudson Company had in
contemplation the policy of buying up one-half or
moro Of the stock OF the former company by
the issue Of bonds at par. bearing Ave per
cent interest and thereby controlling the property
There large earnings reported by the st. Paul
road for the second week in October the
last year being ss7lO4. 1t is not to be forgotten.
however. that the company is working some seven
hundred miles OF additional road. or that the COM
parison of earnings is made against very light
business this time last year. Among the good
things which offered to buyers for Investment
speculation the points given in favor Of Boston,
Hartford and Erie first mortRages, and Iron Mountain
second incomes. The closing prices Of the general
market were weak and feverish. and the "snap"
which has lately been the feature of the market
no longer perceptible. #N1@ faNtlf
Total sales at the Board were 9115 shares. Fol-
lowing Ia an epitome Of the transactions. =