The New York herald., 1879-10-23
FINANCIAL and COMMERCIAL.
Stocks Still More Buoyant
and Active.
MONEY STEADY AT 7.
Governments Strong, State and Railway
Bonds in Demand.
WALL STREET,

WEDNESDAY Oct. 22-6 z. NJ.
Prices Change to-day all higher and
within ace of being rampant. From all appear
ances the stock market is grazing ground for
short horned bulls of conservative tendencies. IL
the average speculator aspircs to be cornuted at all
1t must be after the fashion of the bovines that one
meets the Roman Campagna-long horned and
widespread. Crumpled horned veterans upon the
Stock Exchange stand aghast at the persistent rise
while newly born operators whose horns are in the
velvet. rush in and make the money. Nothing can
be truer than the fact that while the great body OF
young and inexperienced operators pitching III
upon the bull side i'll a hit or miss ana
slap dash sort of way. have feathered their
nests, the experienced old fogies of the street
have made next to nothing. History ought to re-
peat itself upon the stock market as well as IN po-
litical matters. but it does not. Judged by the
past the market ought to break but it don't; hence
spectators who their fingers at the teachinss
OF the past make money by bung stocks, and those
who regard them lose it. From the strength OF TO-
DAVIS market il doesn't appear that they ever Will
make money. for there was cessation to the Dull
feeling and no decline in tho clamor for shares at
advancing prices. While this was true OF the days
market, taken in it's entirety there was neverthe-
less lull after MONDAY. due to the sharp demand
for call money. Loans were made in many cases at
premium the regular interest of l32 per cent,
and in u bonus was demanded ana PAID.
Toward O'Clock the rate grew easier and either
from this reason or because the money question is
considered to be "bagateiIe" when stocks rs-
ing three four per cent a day, the share market
stened up. and the session closed with great vgor
and animation. There sharp advance in thecoal
early in the day. although it was not supported
to the end. Nothing moreis said about combination,
but much OF the revival in the coal trade. The CON-
panies to let the former die out in view
of the active demand they getting for their
product and tho surety that the output will not
more than supply present and future buyers.
Prominent among the stocks which reached
higher prices to-day the Kansas and Texas
securities the rise being stimulated this afternoon
by . report that the Wabash combination had OBJ
tanned control of the property. We have reason to
believe that this report is destitute OF foundation
1t is well known that both tho new Wabash and Kan
sas City and Northern combination and the Bur
lington and Quincy Railroad desirous Of con-
trolling the Kansas and Texas line, but it is not
well known that the Burlington and Quincy COM
pany have at present the whiphand Of the matter
through refusal to accept decline the contract
which they hold for week to come. Without doubt
the road in question will come under the control Of
one or the other Of these companies, aud in either
case the transfer would seemingly bo greatly to its
advantage.
Total sales at the Stock Exchange 1912
shares. Following is an epitome of the days busi-
ness:-