The New York herald., 1879-01-03
FINANCIAL AND COMMERCIAL.
The Stock Market Active
and Irregular.
Government Bonds Quiet States Weak
and Railroads Strong.
Money on Call Easy at a Q
4 Per Cent.
WALL STREET,

THrRsDAY Jan. 2-6 p. M.
The bull movement in stocks inaugurated day or
two back found full and satisfactory expression IN
this mornings opening prices. The speculative
field, forced to lie faow by the occurrence OF gen.
eral holiday, budded exuberantly this morning. ana
pretty much the entire corps % bulish operators
was enlisted sin tllng the crop. with very consider
able success too for prices from the beginning grew
rapidly larger Unfortunately it happens ON Change
as it does in agricultural pursuits that there inter-
poses very critical period between seedtime and
harvest The farmer keeps his weather eye open for
approaching storms, the stock speculator, with
war horse capacity. scents the threatened
battle of the bears afar of. Whether regarded
as growing crop an inviting "bee tree" every
important rise upon the stock market invites an at
tempt from its natural enemies 1t came to-day as
matter Of course. shortly after MONDAY, and con-
tinued to the close. Prices which had mounted with
"hurrah" ut the commencement of business de.
,ned seriously and ended considerably below open
Ing figures Particularly this the case with Lake
Shore. Western Union and the grangers which I'm
ished something like one per cent below opening
prices. On the contrary. the coal stocks. as ex-
pressed by the two Delawares and Jersey Central.
showed fractional Improvement. in spite OF the
very Indifferent character for intrinsic value whicn
they possess among stock speculators The super
sedure OF the very strong market this morning by
some evidences Of weakness this afternoon may be
rightly considered one OF the inalien-
able attendants upon bull speculation.
To expect prices to continuously rise is as absurd
to attempt to pile Pelion upon Ossa. Advances will
be made, profits taken and reactions ensue as mat
ter of necessity It by means follows. however.
that the irresistible tendency of the market toward
higher prices is materially impeded thereby. To all
intents and purposes the Gold Room pure and SIMPLE
put up its shutters to-day. There few transac-
hons par but these only to close up old contracts
in pace" it has done some good and much harm
"Peace to its ashes" How to utilize the Gold Room
Is exercising the master minds Of the Governing
Committee. 1t proposed to it for transactions
In mining stocks. The Mining Board, however,
which is distinct organization. objects, asserting
that verbal contract exists between themselves and
the Stock Exchange to the purport that the latter
body engaged to deal in this class of secur
ties. They further assert that the Stock Exchange,
now that the Mining Board has built up good busi
ness is inclined to ignore any compact. expressed or
implied and is desrous Of swallowing up tho whole
concern in its capacious NAV. The Mining Board
naturally foes at the condition Of things. and is
inclined to believe that balm can be found in
Gilead than in the Of Justice which prevails at
the Stock Board. Whether they are right or wrong
will probably be shortly settled by committee of
conference between the two institutions.
The opening. highest lowest and closing prices of
stocks at the New York Stock Exchange to-day were