The New York herald., 1879-12-10
FINANCIAL and COMMERCIAL.
Stocks Fairly Active and
BuOyant.
MONEY ON CALL RULES AT 6.
Governments Quiet State Bonds Fairly
Active-RaiIways Firm.
WALL STREET.

TUESDAY, Dec. So +. M.
From oil outward appearances to-day's market
was the counterpart OF yesterdays There was tue
same guerilla warfare between skirmishing parties
Of the lighter sort Of bulls and bears. but there was
no general engagement. There was great desire to
forage "eghths and quarters but no evidence oil
IN intention to ..go in for "grand COUP 1t 10
more than probable, however. that something OF
this sort is contemplated. 1t is by no means I'M
probable that while the attention Of the pubic Is
directed to the picket firing of small operators the
great generals OF speculation are contemplating
serious movement. That it will be an advance
movement seems to be unquestionable. Although
In comparison with the bloated transactions OF
weex or 80 ago speculation has shrunk in
us proportions it has done 80 ut the ex-
psnse OF dealings. but not at that OF prices
Tore are fewer stocks bought and sold, but values
held their own. Somebody is content to buy stocks
1t present prices and is buying them for purpose.
It will readily be conceived that the purpose is en-
bodied In the intention to sell them out again at
profit when the boom, Which everybody ex-
poets early in the coming year. will permit it. In
anticipation of this event there is quiet but con-
slant purchasing of such securities most likely
to respond when the sound Of the new boom shall
strike upon the tympanum of Wall street. No day
~t1thin the last two weeks has shown this more
clearly than the present The timeworn device
Of treading upon the market when prices grew
comfortably stiff resorted to more than once
during the day, but tho pressure was of but
temporary duration. The desire to store up
stocks against the future clearly manifest
and tha frmness of the market proved 1t.
While the whole list strong and at no time Of
the day better than at the end. there was special
Improvement in Erie. New Jersey Central and Pacific
Mail The latter especially active and higher on
reports of large business (the Toxic having earned
lo.e Onl har1 1ocf rom
China) and rumors that advantageous ar
rangement would be made with tho Central and
Union Pacific railroads. The Atlantic and Pacific
Telegraph Company has declared its regular divt-
dend of three-quarters of per cent and an extra
dividend OF per cent and shows surplus OF
100000. The Western Union Company will to-
morrow declare a dividend of "a per cent and per
cent as an "extra,' and show o surplus of about
$1.1OO.OcO. The long vexed question which has
bean pending between the c.. c. and l. G. Railroad
and the Pennsylvania Railroad bids fair be settled
shortly. The following may be accepted as reliable:
The c.. c. and !. C.'s long contested suit is to be
settled on the 2Oth inst being the day fixed by
Judge Harlan for q final decree against the Penn
sylvania Railroad Company for back rental under
the lease. The Pennsylvania Company have turned
their through business to Chicago and st. Louis over
to the c., c. and G. road again, which must neces-
sary largely increase the earnings of the c.. g. and
/. @. road It is stated by parties conversant
with the facts that compromise has been
sgreed upon and that before tho goth tho
whole matter at litigation will be settled.
Our despatch from Philadelphia describes tho mar
ket there as closely following in it's
changes. Reading touched 36 on rumors that the
company had succeeded in borrowing three and
half millions pledge of five millions Of their
general mortgage bonds. The price afterward fell
back to S5h. but closed at 357s SO. Lehgh Valley
declared quarterly dividend Of SO cents per share.
It was expected that the dividend would have been
equal to six per cent per annum and the dsappoint
men. caused drop in the stock Of per cent.
Pennsylvania Railroad was dull and steady. closing
1t soy 50H. Lehigh also dull and steady at about
as Tho market, however. closed strong at quota
uons-
Total sales at the Board 2s4 sS4 shares. against
BOT 367 shares yesterday. Following is synopsis Of
to-day's transactions:-