The New York herald., 1879-12-09
FINANCIAL AND COMMERCIAL
Revival Of Activity in the
Stock Market.
r iss
MONEY RULES AT 6.
Governments Quiet and Steady Railway
Bonds Fairly Active.
WALL STREET. =

y. 81. .i.f MONDAY. Deo. Sd Il. MI ,,{i
The strength of Saturdays closing market prom
ised strong prices for to-day's opening. Bullish
brokers left the Board room with half gallo OF wind
blowing in their favor and with the expectation that
1t would blow great guns" to-day. There was con-
sequently some disappointment when it was dis
that gale had already blown out and that
the market was likely close under the influence OF
tho gentest OF zephyrs. In plain English. the mar
ket opened strong. continued SO for most OF the
day. and closed weak Although 1t is pretty wen
agroed that the new year will be marked by fresh
boom in stocks that will carry prices to higher
elevation than has yet been attained. there Is hte
disposition to take time by the foreiock through
the purchase Of securities in anticipation OF
this event. Consequently the market remains
dull snd feverish. The strength at one time OF the
day is Offset by the weakness another time. and
the whole market s given to the trading element
which attains seventh heaven when it realizes an
eighth or quarter" or chants de prctundis when
1t loses s.three-eighths half" In plain words,
the market is brokers' one 1t is possible that
some of the magnates may have touched it, but If
So they have touched it gngerly, Mr.. Keene is said
to be short Of New Jersey Central. Mr.. Keene is
also said be long OF it. Not having access to his
stock ledger we are unable to say upon which side
of the account mis- interests lie We do know, how
ever that the stock in question spurted up strongly
The rise was predcated upon two things.
First. that Mr.. Keene greatly short Of
tho stock, and that the bulls. having discovered
the fact, had organized q committee Of 'rotis-
seurs," with the intention. vulgarly speaking. of
cooking his goose;" second. that the Standard OIL
Company had on Saturday made contract with the
Readng Company for the shipment Of oil which
would And its way to New York by means of. and
greatly to the emoument OF. the New Jersey Central
Company. Telegraph stocks were strong and well
sustained. Rumors are that quarterly divi-
dends OF ~ and x per cent will severally be de-
clared upon the Western Union and Atlantic and
Pacific stocks. Besides this extra per cent is
expected to be declared to each bonus from the
extraordinary earnings OF the last quarter If this
be truo stockholders of Western Union will receive
p% and Atlantic and Pacific 1x per cent as the quar-
terly dividend upon their shares Should an
entire consolidation Of Western Union. Atlantic and
Pacific and the Gold and Stock Company be consum-
mated as is intmated, the quarterly results in the
future may be stnl more favorable There was
. sharp rise in st. Louis San Francisco stock
There is the best OF to believe that the pend
ing negotiations between this road and the Atchison
md Topeka Company have resulted in community
of interests with the of extending the line to
the Pacific Ocean under the old Atlantic and Pacific
charter It is said that the funds necessary for this
extension will be provided equally by the two roads
aforesaid Taking the market whole business
was dull and prices oscillated between narrow limits.
as is the rule when speculation swings out of tho
hands OF large operators into the hands Of small
ones. Money was easy early in tho day. and hard
ened to per cent at the close. Possibly something
of the droop in tho stock market at the end may be
traced to the greater demand for money.
Total sales at the Board were s27. .s67 shares.
Following is synopsis of the days transactions4 =