The New York herald., 1876-11-13
FINANCIAL and COMMERCIAL.
The Facts Of the Week-A Dull and
Lower Stock Market.
THE GOLD AND PAPER MARKETS.
Government Bonds Steady-Railway and State
Bonds Generally Firm. with an En-
couraging Outlook.
WALL STRKxr,

WALL STRExr, /
SUNDAY, Nov IL, 1870
As far as business concerned Monday and Tues
day OF last week wore to all intents and purposes
dropped ont OF the calendar such existed
connned TO the proceedings OF four days only.
Naturally under The political excitement speculation
In shares converted into speculation In Prcsiden
tal chances and for the time being pool box and ballot
box offered metal more attractive than tho prosae
fluctuations Of the board room. Consequently the
market left to drift along by ITSELF at BEST under
the plotage Of feeble stock navigators who seered
close to the wind and made little progress Pahnurus
Gould seen nodded at the helm did his namesake
Of old, and was only occasionally that his handiwork
apparent in the form OF the man At the Wheel
There nothing in the condition Of things under the
apprehension OF political crisis and the state Of rail-
road business invite the attention Of buyers and
clique support bolster up prices, consequently the
general of speculation shaped toward lower
figures, which In most cases were reached with the
end OF the week.
With the exception OF tho pool in Western Union
which has its eyes nxed upon the great bear
steaton Of pleasing contemplation, and, as 10 hoped
by II, with prospect Of much remuneration-the i'm
porant railway bulls have shifted to the bear
sids and already manifested disposition to tear
and rend their former favortes Not to any great
extent as yet for they have feared out OF
their depths while political waters disturbed and
things not going swmmingly; still they have
given sufficient evidence Of intention to check she ad
in the market aud, In fact in many cases, to
turn It the other way In proof OF this nnd such
stocks Lake shore, ST. Paul. Michigan Central Ohio
and Illinois Central ranging several points under
the ruling prices OF week ago, and
likely to lower still In tho long
run If left to their own morits and
unasssted by any Fictitious support This is most
which, now thatthe fall trado is dropping or and Gen.
tennial travel end. find themselves confronted
with a diminishing traffic and In many instances with
an unmanageable floating debt. The values OF their
properties being purely speculative, buyers are found
with difficulty, except In the event Of prevailing buli
market, when 1t 10 assumed that they will float with
their betters along the pleasant current toward higher
prices Reverse the position and there "none SO
poor to do them reverence" Returning no income
tho of carrying is expensive drug, and, being
held margins they prove undesirable contents OF
brokers' box The result OF pressure to sell is
10 follow, and quotations shrink faster than they
expanded.
Those hybrids, the coal stocks appear be in the
category, and burning their cnndles at both
ends as coal miners and public carriers The low price
Of te staple and the dscouraRng results Of the Lass
public Sales added the belief that New Jersey Gen.
trail is again hard up" had depressing effect
upon prices, and brought quotations materially lower
during the week. Although, in general way, the
drift Of prices have been downward, the decline was
checkered by spasms Of Improvement which were
availed OF by to market long stock rally Of
this kind marked the close Of yesterdays business,
the whole list improving under the lead of Western
Union, which gained two points on the days work.
In the uncertainty which prevails AZ to the result
OF the election and the fear in some quarters that It
NAV be productive OF bitter fruits the future OF specu
ation Is excessively uncertain, and little inclination s
shown among operators TO wander about blndy In the
fog
THE TRANSACTIONS or TIE WEEK
The following table reflects the opening highest and
lowest sales regular way, OF the principal stocks
during tho past week, together with the number Of
sharc dealt -