The New York herald., 1879-09-28
FINANCIAL and COMMERCIAL.
Stocks Very Active and
Strong.
MONEY ON CALL 4 TO z.
Governments Firm, Railroads Active.
States Dull
WALL STREET.

SATURDAY. Sept. 27-6 +. NJ.
Like the individual who foated alongside the Ark
and refused to DO taken in-rst, because he did not
like the terms and conditions, and second, because
he did not believe there to be much of q
shower-the stock market to-day steadily ignored
the possibility Of drop in prices. and went pound
ing away toward higher figures without any con-
sideraton of the relapse which is threatening.
IL It not be imminent. Most things stronger
this morning. and the rest OF them. If not strong
were at least steady. If there exist fear of col
lapse ii was not apparent in to-day's dealings for
everything buoyant and vogue Ia galere was the
order of tho day. In today's speculation the Erie
common shares were the most prominent of ALL
They the centre Of attraction and both in the
number OF transactions and in amount Of activity
they headed tho list. After having been knocked
about between 20 aud ~ for months past it has sud-
denly occurred to spectators that while the rest Of
the market has moved up from 10 to 30 per cent.
Erie has scarcely moved at ALL This fact alone
an incentive 10 buyers, even were there lack of
other 1t happens. however, that there
other reasons why Erie should be bought. and these
rest in tho very probable report that Mr.. Gould is
endeavoring to obtain control OF the road If Mr.
Gould be sincere in his project of establishing
trans-continental through line no better eastern
outlet could be Afforded than by the Erie route. TO
provide for awestern outlet is reported today that
Mr. Gould has purchased at the expense 900,
q road surveyed and partly constructed) from the
terminus OF the Union Pacific line to Puget Sound
This route when completed WILL is stated shorten
the distance to Japan by 800 miles, With west
ern line to the Pacific perfected and eastern
tions established, all Mr.. Gould would have to do
would be to look aftor theintermediary links. which.
from all Appearances have been already secured. That
sort Of result of this kind would be the out
OF this rather magnificent plan lent helping
hand to Erie to-day. and sent the quotation up
per cent Northwest common stock higher
to-day by nearly per cent on increased grain
ceipts ut Chicago. There equal rise in New
Jersey Central on the present and prospective bus
ness of tho road, and fractional advance in
tho other coal stocks on purchases Of strong
parties, who are buying under tho belief
that with an increasing prosperity these
properties must necessarily prosper also.
With shade less OF activity Pacific Mail neverthe-
less remained firm. There strong buyers Of the
stock at 81 and under and the shares being taken
by parties who believe that the earnings Of tho line
fully warrant the price they paying the stock
There was advance Of about per cent in the
Ohio and mississippi common shares to-day-rather
from sympathy with the rest Of the market than
from increase in their intrinsic merit. In fact,
matters seem to be the other way. for, learn,
the efforts made within day or two past to
cle the opposing interests have failed utterly. and
that the Springfield bondholders threaten to bring
suit to compel the payment of back interest.
Total sales at the Board to-day 37S Gl5 shares.
The following table shows the sales of each stock
with the range Of fuctuations:-