Year: 1879

SUNDAY. Sept. 2l. 1879.


The past week opened with q continuance Of the
bull movement and terminated with regular ram
page. There was no fear Of any grass growing under


the feet Of the herd of bulls which took possession
Of the speculative pastures. for it kept moving.
with scarcely let up from one end of the week to
the other. Anything upon the list that looked
cheap or had remained idle or was new thing
upon the market acted like red rag in attracting
the attention Of the bulls. who Immediately pro-
ceeded to toss it up into the region of higher hg-
In this category to be found such stocks
Iron Mountain Pacific Mail c., c. and I. c.,
Houston and Texas Central Northern Pacific and the
various roads that are identified with Mr.. Gould's
interests which otherwise gridiron the
great West The rise in these stocks varied
from to 81 per cent. the latter pertaining to Iron
Mountain and Houston and Texas. In the Wander
bis and the grangers there WAS less OF demonstra-
ton and. consequently. more steadiness, although
they could not fail to participate in the general
hiarity OF this latter Lake Shore was the bright
est example. the reports that large block of the
stock had been taken for Investment by English
capitalists. and that it had been admitted to the
London Stock Exchange, causing brisk dealings and
o rise Of about per cent. In the Northwestern
shares there comparative quietude. the pre-
ferred stock having been pretty much retired from
the market by investors, while the common
stock is rapidly following suit. The same
is measurably true Of the st. Paul pre-
ferred stock. although there is doubtful
flavor about the common sort that does
not meet the taste of buyers. Consequently. this
latter at times irregular and weak condition
which the uncertainty to q dividend did not tend
to improve. When Mr.. Mitchell, the president. ar-
rives. which will be in day two this question
will probably be definitely settled. The largest rise
of the week was in Iron Mountain and Houston and
Texas. A scheme which is in contemplation to ex-
Tend the Texas Pacific road to the Rio Grande thus
opening up and fertile grain and cotton coun-
cry. is regarded highly favorable to Iron Noun
tain. which direct connection would be made
with st. Louis. Houston and Texas as . new conner
and possessed Of good record received with
all the honors that expressed by sharp and
vigorous rise Although the movement of the
week has been carried on, regarded by many
with breakneck speed, the highly promising out
seem to offer plausible for the activity
The danger is not that values too high but that
in the attempt to cram extraordinary rise into
limited space Of time sudden and serious. albeit
temporary reaction. may occur. There is numer-
contingencies yet blind to the fact that the rate
Of Interest hereafter to be lower in this country
and that foreign capital must individually seek out
Tho better class Of securities for Investment
that regard the present prices OF even our six and
seven per cent dividend paying stocks as being dan
gerously high. TO show how this class Of securities
is regarded In England clip few examples Of the
best esteemed railways from the London stock List,
oh ouy;,, div,darda and D,arkat vpluoa.--