The New York herald., 1879-09-29
FINANCIAL and COMMERCIAL.
Summary Of the Week in
Wall Street.
A STRONG MARKET.
WALL STREET.

[
SUNDAY, Sept. %. 1879.
At the end Of another six days work upon the
Stock Exchange we nnd a still further fattening up
of values, which no fears of possible "Banting"
process to come with all Its disagreeabe accompani
ments, have had the least effect In checking. 1t
would almost seem that the market. with asentient
appreciation of the fitness Of things had taken Its
from the "go as you please" people at the Gar
dcn and meant to walk up prices long as it could
stand on its legs. 1t certainly pushed ahead con-
sdcrably during the past week. scoring as 1t did, an
advance for everything upon the list. Tho improve
ment ranged from fraction in the staid and steady
investments to or eight per cent in the more
speculative stocks, and certainly averaged some
three or four per taking the list through While
there was less excitement in the grangers and Lake
Shore there was moro Of it in the coal shares, Pa
ciic Mail and Erie. In fact these stocks were the
shining lights OF the market both as regarded i'm
provemont and volume Of dealings. The coal COM
bination seems to be far off as ever, oven the
managers themselves appearing to think that no
good Is likely to como out of Nazareth of this Sort
Still the anthractes have shown great animation,
and either because it is supposed that something
will be yet effected in this way that as reported
Mr.. Vanderbilt is really buying Delaware and Hud-
son. or that Jersey Central is to be put up to 70 by
tho strong party supporting it. or. in fne that a
rise is the natural sequent OF the general improve
ment in matters commercial certain 1t is that they
wero among tho most lively stocks upon the list and
ut figures which grew from day to day. There was
advance of some three per cent in Pacific Mall and
ut times dealings brisk enough to revive
lively recoections of the old days when it was at the
head Of speculation. Although it lost something of
its advance at the close higher prices promised
by the movers who assert with q straight face that
tho line is doing finely. and that the debt to the
Panama road has been greatly reduced The real
sensation of the week. however. has been in Erie.
this old favorite turning up fresh as daisy in
speculative prominence. The common stock rose
from 27 to 31S, and the preferred from 51A to 81.
though at the end the highest figures had dimin-
ished shade. The real springs to the movement have
been difficult to get at, but the probability lies in
tho direction of Mr. Gould and his scheme for esab
fishing transcontinental route of which Erie would
form the eastern terminal link. The eider-downs
of the market, such as the Southwesterns, Ohios,
tho st. Louis and San Franciscos. c., Z. and I. G.
and others of similar feather equally strong Of
wing, whilo such stock as Western Union. Michigan
Central Burlington and Quincy and the other divi-
dend payers made a steady progress upward. Money
call remained sufficiently plentiful at an average
rate of to per cent. though per cent was occa-
sionay paid Gold has continued to arrive in large
quantities. and at the nick Of time to prevent dis
astrous pinch in money, which. in view of the ship
monts of currency West and the payments by the
banks into the Treasury in settlement of the 4
per cent loan. could hardly have been avoided The
bond settlements have. however. nearly been ad-
justed and for the future the payments will take the
opposite direction. to the benefit Of the bank re-
serve and to the ease of the money market.
Total sales at the Board during the week amounted
to 2OO2 2O5 shares. The following table shows the
highest and lowest and closing prices of each stock
for tho week. with amount OF sales of each. and tho
prices one week ago