The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-19
FINANCIAL and COMMERCIAL
Smaller Business and Lower
Prices in Stocks.
MONEY RULES AT =.
Governments Quiet State and Railway
Bonds Pull and Fairly Steady.
WALL STREET.

TUESDAY, Nov lS-b r. MI
On Change to-day there has been continuance OF
FREQ reaizations. and prices OF stocks have dropped
accordingly To accept the popular report. the ma
jority of large holders have sold out Popular re-
port il not so confident, however. AZ to who the
BUYERS have been. or to why so large number OF
shares have changed hands with little diminution
In their market value For the last two days there
has been splitting of stocks by the spigot out an
outpour by the bung; nevertheless. they have been
sopped up by the mysterious sponge OF popular
demand the existence of which is as 70
the plans of the great operators a. 1t Is tncompre
hensible to the small ones Within day or two past
there has been enough long Erie sold to swamp the
quotations of an ordinary stock market. but 1t has
been absorbed at prices within three per cent OF
the best that have yet been made Observers OF the
Erie market are of opinion that both Messrs. Gould
and Sage were buyers at the recession to-day and
that they eagerly took all she stock which certain
holders who had either grown sceptical OF further
advance or were DESTROYS to secure paper profts)
were willing to sell chem. Under largo transactions
Erie fell from 4s4 to 4G. but at the end rallied to
and closed at AZ. What was true Of Erie was to .
great extent of the rest of the market Prices
were all depressed during the first hour. were stiff
fened up during the succeeding two or three hours
and las the cotton quotations have it were only fair
to middling'' In the final ono. They swung up,
eQuanimity, there being absolute absence of any
outside report, story statement to affect
per any particular stock upon the list
As exception. there is some doubt about the
status of Missouri Pacific. Spectators who plunged
in at low prices and plunged out at high Ones TAX
ing the stock they would their matutinal club"
safe enough. Present holders may. however.
find themselves in hot water If it be true. rs as
serted that there Is no transfer Office in this city.
that the stock is consequently not registered upon
the board list and in fact that 1t has legal exis
tence whatever. We understand that representa-
lions to this effect have been made to the governing
committee. with what issue yet unin-
formed. The coal stocks were all heavy to-day the
further advance of twenty-five cents per ton in the
price Of the product being insufficient to Offset the
free realzations in the stocks themselves. The
Philadelphia market was pretty much like our own
being irregular and only passably strong the day
through. There were large sales Of Penn
sylvania Railroad by two or three prominent
houses. Reading was steady and influenced by New
York quotations. while Lehigh Valley proved to be
the strongest stock the list, advancing in fact
under purchases by prominent parties Lehigh Val
ley remained in fair demand. with a sharp inquiry
just before the close. Low priced fancies were
pressed for sale and showed material decline at the
end Of the day. At the very close prices
what frmer. in response to the rally upon the New
York market.
The Mining Board notable for increased
business and firm market. but without any partic.
uar prominence being attached to any special stock.
Total sales at the Board to-day 405,Ol5
shares against 57063S yesterday. Following is .
synopsis OF to-day's busness:-