Year: 1878

outs Of stock speculation confess their inability to
make head or tail Of the existing market. Prices
when apparently at the strongest topple over with
suddenness that the bulls to gasp for BREATH
and when at the weakest squirt upward with velocity
that makes the bears howl. day like the present
one. with its quick and rapid fluctuations presents
dismal list Of killed and wounded upon both sides Of
the account and ia in the main satisfactory to nobody
The market to-day has been Of the most irregular
description strong upon some things weak on Others
and altogether at purposes The list Of active
stocks at the close showed decline for some and an
advance for Others and in fact this heterogeneous
condition has been the characteristic of the entire day.


While outside of the purlieus OF the Stock Exchange
all branches Of business are manifesty improving
and there clear tokens Of dawning prosperity.
within the walls of the Board room everything Is
chaotic and unsatisfactory There is scarcely doubt
that stocks left to their volition slow but
steady appreciation Of values would ensue. Con-
trolled however they by speculative schemers
the prescience of prophet would hardly avail to pre-
dict the future. 1t is said to-day with some paus-
ibiity that new speculative triumvirate has been
formed. the components Of which Messrs. Could
Keene and Sage It is not said, however upon which
side Of the market they intend to work. which is.
after all. the only fact worth knowing. Is known.
however. that this ring. some section Of
it, supplied the market freely with Western
Union between the highest point Of 99A and the
lowest point Of s7H At the close the price rallied to
98,<, which within fraction Of opening figures.
In more moderate way the same rise. decline and
rally characterized the other active stocks and the
question arises AZ to who the good Samaritans are
that minister the market when looks the sckest
dropping values and set prices upon their legs
again. The question is answered by brokers who
daily receiving orders from their Western customers
to purchase shares Of the most prominent securities
and by the German element which especially cottons
to the Northwesterns and buys at every decline.
Lake Shore only moderately active to-day and
quotations did not exceed one-half Of one per
cent in spite Of the rumor that 100000.
which had been carried to construction account.
would be capitalized and the proceeds added to the
next dividend. The highest prices Of the day gave
way In the afternoon reiteration Of the stories
concerning the cutting of railway passenger rates.
For good solid "bouncers" these stories lacked
nothing being carried to the extent Of declaring that
the price from Chicago to New York had been re-
duced from $40 to $12 and from Cincinnati to New
York to $l and questions asked to whether the
dollar rendered was to be ''trade or psternal" At
last the Board is waking up to sensible and practi
cal scheme for defeating the perncious competition
OF the bucket shops. petition. signed by 9 num-
Der Of prominent firms. will be presented to the
Governing Committee asking for . more complete
recognition of dealings in fractional shares than
at present exists Under the present ruling
quosations not made and printed for amounts
under 100 shares and the consequence Ia that dealers
in. Sodd lots unable to buy sell without
making very material advance upon or concession
to the market price. It is hoped that, under proper
regulations. lots Of ten shares will be afforded
equally favorable market with lots Of 100 shares and
it is urged this be done. that the smaller traders
who have been attracted to the bucket shops will be
induced TO return to the Board room, where greater
safety viii be guaranteed and higher commissions
charged


The opening. highest. lowest and closing prices OF
stocks and gold the New York Stock Exchange
as follows:-