Year: 1878




WEDNESDAY,. Nov. 13-6P. NJ


IT would appear that any scheme for a decided and
permanent depression of the stock market is much
difncult Of accomplishment at the present mo-
ment than it was few months back. Founded upon
the well known fact that several of the large holders Of
stocks had been heavy sellers plan conceived Of
driving prices still lower, by which process weak
holders would be forced to part with their shares
fresh short interest established and favor tbe basis
constructed for new and vigorous bun movement.
Plausible US the scheme would appear to be the
movers in it have recloned without their host and
the intention so promising in theory has proved
impossible in practice. 1t turns out that
the stocks thrown upon the market have
found their way into hands stronger than
expected Instead of everything going
to the "bad" everything appears to be going to
the good with the aacrity Of converted sinners at
. revival; stocks which sinking two or three
days back buoyant to-day, and appearances are
that they will become still so tomorrow. 1t is
becoming more and evident that the mere
Vaccinations of stock gamblers powerless to ser
ousy depress prices The slowly but surely improv-
ing prospects for trade the sound condition of the
country's finances and the confidence impaired by
the certainty OF specie resumption ugly obstacles
In the way of bear movement The action OF the
city banks yesterday (Which will undoubtedly invite





square support Of the nations honesty and repudi
atng any connection with schemes to debase the cur
rency unquestionably exertcd favorable influence
upon the stock market to-day and helped to give
strength to prices. Without exception there was an
improvement right through the list. and it was re-
tanned at the close The socalled active stocks were
benefited most Of all, the gain ranging from y to
per cent Especially this the with the North
westerns. which had many friends as an heir on at
tanning his majority. few days back Mr.. Gould
said to be large seller; to-day he is reported to be
large buyer. He may be either or neither. and it
would puzzle the .nest police force in the world to
find out which, In either event the street sentiment
leans strongly in favor Of higher prices and it is en-
couraged to do by the almost certainty of three
and half per cent dividend upon the preferred stock
in December and the very probable declaration of three
per cent upon the common sort after the new year.
Lake Shore after day Of active dealings but modcr
ate fluctuations closed an eighth higher than it had
opened; Western Union gained y per cent under the
suppositiop that the stock-watering scheme would
still be made to bear fruit Of the melon species and
the coal stocks remained strong and steady for no
particular reason at all. circular issued this
ing by Secretary Sherman states that hereafter sub
scribers for four per cent bonds may pay for them
with any Of the fve-twcnty bonds issued under the
act Of March o. 1866. in the same way as If they
called at the date of subscription. The subscriber to
avail himself Of this privilege. must accompany the
subscription with full description Of such bonds by
numbers and denominations and. within thirty days
thereafter forward the bonds to the Treasury Depart
ment.


The opening, highest, lowest and closing prices Of
stocks and gold at the New York Stock Exchange