New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-01-22

SATURDAY, Jan. 2e-P. NJ.

SA1URDAf, Jan. up. NJ
The week just drawing to close has been
characterized by stock speculation scarcely surpassed
by the exciting times OF the Chicago fire, and perhaps
barely eGualed IN any week before since that time
during the memorable year 1871 It had been thought
by many that the sharp rise in stocks so closely follow
ing that dire disaster Chicago, and the vigorous bull
which Phenixke, from the ashes OF the
coahagraon, would be followed by an equally sudden
break and the campaign be- brought to grief
and desoation on the breakers OF stringent
money, which always appear about the first
OF the Ecw-Year. And with good apparent
reason sound practical judgments was this theory
based For days and weeks money stringent enough
satisfy the longnga OF the most extortonate Shyock
and ZIG. !, SIG, / and sometimes OF per cent
were required of brokers holders OF stock TO have
their ventures carried night, so difficult were
the money accommodations. Yet step hy step did prices
advances round after round OF the ladder assembled
with scarcely any faltcring or hcstancy, until at
last came easy money and clear financial
sky. Nothing dampencd the nrdor OF the bulls,
ana no obstacle presented itself that they did
not readily and easily surmount All this 1t should be
remembered accomplished without material aid
from the general public At last, after educating the
and the public up TO condition OF high prices,
and belief in the stability Of stocks, whether well i'll
founded need not stop to inquire the past weeA las
developed an accession TO the business Of the street
In the form OF new orders from buyers who
have heretofore stood aOOf from speculation; and
the TELEGRAPH, as we are cTCdiby informed has been
kept busy in sending "orders to buy," from Name to
California that the commission houses have been made
quito happy by what looks very much like revival or
business and n return OF the palmy days when stock
brokers Gassed fortunes by the legitimate business OF
commission houses but IL should be remembered that
in those days there were not so many bro
kers in the street and hence those engaged in
the business had better opportunities than when IL
is almost impossible to go amiss of brokers' Office in
the vicinity OF the Stock Exchange. Experience has
shown that the unproiessonal speculaor IL generally
inclined TO buy rising market than any other,
and the higher stocks the more anxious he seems to
invest. Indeed the fascination of general advance,
day after day. securities is such that the disposition 10
invest and chance it" for profit is not by any
means confined to outsiders" The person, however,
who should express decided opinion to the course
speculation will take week would probably be
garded taking extra hazardous risk his reputa
ton for sound Judgment The market to-day, early re-
covered the buOyancy temporarily lost yesterday. by
what is believed 20 have been wholesale "scoop, dex-
terousy engineered by the veterans the street Open
ing strong the market quickly advanced to cent,
though the tone was somewhat unsettled and feversh
under reports OF bad faith among the leading pools
and cliques. There was somewhat diminished volume
OF business and apparently less marked disposition
the part OF outsiders to speculate. After the first Board
prices declined slightly nearly quite the entire
list but the market became steady about o'clock and
recovered partially; but the bank statement
proving less favorable than SPECTATORS had
been led TO expect, was made the pretext for
further sales, particularly among small holders
who unwilling TO keep open their contracts
Sunday and the late market the whole unsteady
though strong OF the list. The distinguishing
feature Of course Union Pacific, In which the sales
were OF extraordinary magnitude and equal perhaps
any day this week The changes and variations in this
stock extremely rapid, and afforded brilliant
opportunity for profit to the eighth chasers Of the
to,th
tons The Of this stock and Its mysterious
is enigma TO the street. which looks yainly for
some Gdipus that shall make public ts solution The
extreme range Of the price 80 and $50. Pacific Mail
was also very lively. but gave rise 10 less talk. There
large trade in Lake Shore, Erie Ohio and Missis
sipp Wabash. and Western Union Telegraph, Central
stock being firm The Directors Of the Milwaukee and
St. Paul Company held meeting to-day, and declared
dividend the preferred stock of per cent less Gov
ernment tax the common stock Ia left out In the cold
The investment stocks quiet, miscellaneous shares
steady, shares heavy, Express stocks firm, will
be by reference to the official printed list at the
head OF the column. The highest and lowest prices OF
stocks made to-day we're as follows: