The New York herald., 1879-09-04
FINANCIAL And COMMERCIAL.
Stocks More Active and
Higher.
MONEY LOANING AT s.
Governments Strong. State Bonds Dull
Railroads Buoyant
Y LoAMING AT 8.
WALL STREET,


The stock market to-day was fairly active this
morning and as general thing higher prices were
made. Like That aeronautic novelty, the "captiye
bailoon. vanes would soar higher were they not
tied down by some doubts to tho future of the
money market and very cxcusable impression that
many OF the most prominent stocks ON tho list had
Already advanced so far as existing circumstances
should permit them GO. Mr.. Gould with
excelsior notion OF his own $50 far at least his
own interests were concerned). early buyer
to-day and persistent one throughout. Kansas
Pacific ito quote the expression of the late and la
mented Underhil OF race memory, the
"nrst choice" advancing, as 1t did. six per
cent above yesterdays prices for second. third
and other choices came the other Kansas roads.
Wabash Erie and the Of the arket-these latter
less in the ruck. it is true but, neverthe-
less. ''placed" higher than yesterdays quotations
gave promise OF. In a word Jay Gould. steering
his OWL stocks like modern Palinurus. showed the
way to the whole market the majority OF Spectators
forgetting that ho was up to more than one trick"
at tho Wheel and that. pilot. he was no more to
be depended upon than tho skipper alluded to
i'll the old Latin story. Mr.. Gould, nevertheless.
made his mark to-day. and it Expressed by
rise either directly or sympathotically in tho whole
list His support OF the Kansas and Wabash roads
accepted as conclusive intention to carry
late report which came into the stroot to the cect
that he had bought out Mr. Keene's interest in Eric
confirmed tho impression. for some time held. that
this great artery would be secured for the new limo
eastern outlet to tiewater. The Cedar Rapids
directors met to-day and adjourned to late hour in
the afternoon. At the timo Of writing it was be-
lievcd that the Rock Island road would secure the
lease. favorable terms having been offered by
this company than by tho Northwestern corpora
ton. Both tho st. Paul and Northwestern roads
publish their earnings for August to-day.
The st. Paul road shows increase OF S2O6 for
the month while tho Northwest road has no better
exhibit to make than $s0000 increase for the same
time. The discrepancy Is somewhat curious. con.
sidering that the earnings OF the ST. Paul road
derived (as ascertained from Poor's "ManualJ from
1.5l2 miles OF road and those Of Northwest from
2.l5s miles. 1t would appear therefore, that the ad-
dtion of nearly hundred miles to the st. Paul
property (of which SO far no official mention has
been made) would be necessary to account for
this unprecedented increase its earnings.
The acquisition Of new branches by the st. Paul
Railroad Company, and the question as to how far
it is to DO either benefited injured thereby. is
subject OF considerable comment. The following
PARTICULARS have been furnished from reliable
source-The bonded debt. amounting to $50, 800 900
on the 1st of August. 1878. has grown up to
,S25. at the present slnes increase
for the year of 7OO0OO2 OF this increase 900
consists Of bonds issued to purchase s3.5OoO0O
Of Western Union obligations. 1t is proposed to
make further issue OF SOY. 900 for the purchase
control Of the Davenport and North western Rail-
road. line 160 miles long. Meanwhile learn
that tho earnings Of this road included in
the st. Pan receipts for August ~ given
above. It is positively affirmed that the
earnings derived from the 53l miles of ad-
ditional lines have already appeared in the pub
lished returns OF the company. Tho unfairncss of
the exhibit is in permitting comparison to DO
drawn between the earnings Of this year and those
OF last year without an explanation being made Of
the fact thut the increased receipts greatly duo
to the increased mileage Prices OF tho general list
y shade of at the end OF tho day. but tho
ket closed strong and confident. Among the busi
ness changes of tho new month notice the for
nation of tho commission house of II. s. Elliott
Il Co.. the partners (both we'll known members of
the Stock Exchan2e) being Messrs. H. s. Elliott and
Haywood Prince
The extreme fluctuations Of the day in leading
stocks shown in tho following table OF prices