The New York herald., 1877-02-12
Review Of the Events Of the Wrek-An AMI
mated Stock Speculation.
THE GOLD AND MONEY MARKETS.
Bonds-Inyestmen Securities Gener-
ally in Fair Demand Money
Abundant and Easy.
WALL STREET.

SUNDAY, FcO. H. 1871.
The Western Union pool, which had marched forth
"lko army with banners" to attack Jay Gould in
his short entrcnchmonts and mako him captive to
their and spear in the early part OF the
week beaten and chapallen. Tho retreat at time
became nearly rort, and tho desire to rid themselves
OF the impedimcnta OF acquired shares was great
that Monday over CO. 900 OF this description Of prop
erty was thrown upon tho market To say nothing Of
the blocks Of real stock ong and patiently waiting
marketl which confronted tho pool, there pro.
pared ior their discontinue neatly arranged ambus-
cadc Ia the shape OF pretended consolidation between
the rival companies. Into this the manipuators ot
tho movement walked with their eyes wido open only
To nnd themselves trapped As a natural sequence
came dcscrtions from tho ranks, charges OF fraud,
ordinations, "envy, hatred and maco." explosion
and probable law suits to follow
Tho whole movement was paraphrase OF tho "On
10 Richmond" craze In the early days of the rcbclcn,
and Ike II met with Bull Run termination
Regarding the allar in the prosaic light of figures
We Ind recorded drop price of from 10 to FOX for
the weeks work, as extreme limits, but with rccov-
cry OF a per cent In latest dealings.
The excitement IN tho telegraph operation gradually
smmered away MS the week advanced, and gave place
10 growing interest In the coal stocks
New Jersey Central. which had been keeping up an
air OF rcspccabilty despite the widespread stories OF
OF It's financial distress at the stockholders meeting
held on Wednesday How direul this was it was MOI:
easy TO discover, for gurcs explanatory OF tho
pany's condtion hand and statistical infor-
nation obtaiEablc In any other way than by mark.
.ug down probability and taking tho chance OF bag.
gnx Il Tor fact
Tho one point, however. which was clearly dis.
ecrnibc presented itself Ia tho shape OF floating dcbt
pressing aud imperative II light amount to So 600 900
or Il might be s. 600 At any rate tho first named
sun must be had ut once to the life OF tho con.
rern; the balance could 10 looked after In the future
IL Was like throwing life prcservcr to a drowning
man. who, In his eagcrness to be saved, forgcs tho
damsgc apparel and his inability replace the
salnc Unfortunately the cry for help fell upon un-
sympathetic ears, for far the response has been
nrgardly one, being tho shape OF subscriptions
about 81, 100000 Of the certificates, tho only
holding coed the event Of the So 600 beng
taken.
Tho popular appreciation Of the proceeding was
fraught with great injury Go the market price OF tho
stock, and showed itself In bringing about decline
from ~ To ls, the latter being the closing quotation
of the week. Delaware aud Hudson suffered in an
equal degree point Of ngurcs ana Delaware
snd Iackawanna TO less extent, both through pure
sympathy and under the loss OF confidence VIII ch bears
upon the entire list of anthracite companies AT one
time smart reaction took place under rumors OF
construction OF tho combination, but the story
iound to have better basis than vague Impression
oil Mr.. Knight, who appears to know little Of the
dolnss OF tho other companies as hc does Of his
The bulk OF the weeks business being centred In tho
coal Stocks and speculative interest also. as matter
of course the OF the list quietly given the GO
by Even Like shore lost It's position first favore,
aud being left TO the manipuatons Of small traders,
showed decreased transactions, with decline for the
Of az per cent rue rest OF the railroad list
similarly Affected though to less degree, and prices
were inclined wcrken from want OF support well
M from being pressed this direction by stories Of
renewed cutting OF rates by competing companies
TIM TRANSACTIONS or rnE
The following represents the opening, highest and
lowest sacs regular way, OF the principal during
tho past week, together with the number Of shares
dealt IN