The New York herald., 1877-12-24
FINANCIAL and COMMERCIAL.
Review Of the Week-Stock Speou-
lation Very Dull.
THE GOLD AND MONEY MARKETS.
The Course Of Investment
Securities.
WALL SrpEET.

SrerAY. Dec %. 1871
.ssother week has slipped by with scarcely event
smportant enough to mark Its place In the financial
year. dull tread-mill work of routine prices and
s.dcmd horrd grind At the business which racks the
brain and siarves tho stomach is practically the his
tory Of the weeks work. There two subjects,
however which seemed to break into the existing
monotony. and they lay In tho discussion which was
prompted by the coal combination and the Lake Shore
dividend. II IL scarcely necessary TO say that Doth
these events brought disappointment with thom. Tho
popular impression that tho coal carriers arc being
pushed the wall under the combined pressure OF bad
luck, bad management and bad business, led TO the
belief that radical steps would be taken
in the direction OF reo buIlish feeling sprang
mp anticipation OF It's beng successful one. IL
turned out. however. that tho wish father TO the
thought; for alter a powwow with closed doors the
meeting hit upon-Just nothing at all, far as
practical remedy was obtained II Is true IL
solved to form ''board OF CONTROL" to ix fine Tor
production to each ton OF coal to tho amount
OF httccn cents, which should constitute "pot"
out OF which the nne should be paid, and finally to
apporton and restrict production ITSELF Tho latter
item Is really the only OF tho least Importance,
1t the only which tho meeting did not put
into practical shape An adjourned meeting, however,
is TO held Thursday next, and something may DO
done though with Mr. Gowcn master ofthe situation,
tons marketed during tho year, II IS diflcut 10 sec
how any arrangement be como to that will not bo
equally unsatisfactory TO the other companies as It
will be satisfactory to the Reading road itself Tho
combination scheme being thus regarded as moro or
less Of Gasco, the prices OF shares weakened sonc
what but afIerward remained steady ut the decline.
The paramount feature OF the week, however, the
Lake Shore speculation and its pivotal point tho
pected dividend This came on Friday in tho shape OF
q declaration OF per cent, and with II camc also
statement OF the condition and business OF road
for the twelve months ending September so Tho
good features Of the report that there 1oat-
ing debt that operating expenses loss than 1876 by
upward OF $500 00U and that the road proper and It's
nppurtenances have been kept up normal state or
repair. Tho bad features that in spite Of higher
for passengers and freight and the additional
trafc afforded by the extraordinary crops tho gross
earnings less by nearly halt million than In
1876 Moreover, nothing now appears to have been
added to tho 'pant" oil tho road though $1,000, 600
has been expended to remedy the loss of wear und
tear OF engines and The feature OF all Is
that for Ave yoars past each annual exhibit shows q
decrease of gross earnings in comparison with tho
preceding year. circumstance which is OF great I'm
porlance in that IL arises from the competition with
rival lines and the vastly increased facilities which
arc offered in opposition by steam power upon tho
lakes With the exception OF Lake Shore tho coal
carriers speculation in other securities renamed
almost a standstill, and nothing worth mentioning
occurred either In amount OF business importance
OF fluctuations
TRANSACTIONS WEEK.
The following ,ablo represents the opening highest
and lowest Sales regular way, OF tho principal
during tho past week, together with the number
OF shares dealt in:-