The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-06-04
FINANCIAL And COMMERCIAL.
Review of the Week-The Stock Mar
ket Active, with Lower Prices.
THE GOLD AND MONEY MARKETS.
The Course OF Investment Securities Mining
Intelligence.
WALL STREET, I


Sensations OF some sort necessary to the
stock market is coal TO an engine TO keep specu-
ation going they absolutely necessary, aud, aI-
though those OF a startling nature not readily
with a dun a due bill, those ot the feeble
Sort in the absence OF the Others gratefully
copied and made to do duty to the extent OF their
capacity The sensations OF the past week OF tho
latter description and existed In surmiscs what
would be the results OF tho coal and the last
train" alteration. The advertisement OF 800 600 tons
of coal be sold by auction upon Tuesday last had
created considerable uncertainty the minds OF board
operaiors tor while lower prices for tho product
spprehended, II still possible that efforts might
be made to the aud, with them. the
ket price for shares. The steadiness OF the stocks
rathered iostered this idea; but II any such really
listed il turned TO DO delusion and a when
II was found that the auction prices were from 40
30 cents per less than those obtained at the pre-
vious Sales A free selling movement In the stocks
the result, which broke prices 2 TO per aud
left the speculation inactive and steady Tor the OF
the week. Having disposed of sensation number one.
popular interest was directed TO sensation number
two This, has been stated, rested In the mnent
danger of u now railroad war. Mr.. Tom Scott and
his Western railroad allies favored fast trains and
popular prices Mr.. Vanderbilt believed slow trains
cheap and probably nasty, and inlimated
Of backing up bis faith by reduction In passenger
should tho rival lines stick to their ridiculous
Idea OF rapid transit II accordingly happened
that tho week was spent game
Of bluff between the contestants, in which stock
spectators took hand, losing winning the
shares rose or fell under tho contradictory reports
which conjectured the probable success of the chief
players The first stage of the game came to end
yesterday in the carrying out OF Mr.. Vanderbps
threat and tho cutting down OF rates his road
fro,,, 400 IN ynrs
decision was deemed particularly Important as sug-
costing the probability OF further and moro serious
complications. the market took alarm and Tor time
great eagerness shown to get rid Of long stocks
The decline thus started broke the trunk lines
nearly per cont. and by implication affected the less
important ones, Illinois Central suffering to tho
extent of OK points and Chicago aud Alton
points There rally speak
of and quotations at the close wero the
lowest of the day and the week. Western Union,
which had held nrmly day after day. took sudden
lurch yesterday, thereby upsettng It's value
to the extent OF ga per cent There apparent
reason tor this sudden depression, though 1t was
helped by fresh howl the part OF The bears
10 its diminished receipts and the belief that the sellers
OF tho railroads sellers OF this properly also. Gold
SPECTATORS during the week were rcated to dropping
market and a quotation that recedcd from 1861 to
1854 The Eastern question does not appear to DO
.ull Of nghtn as was expected, and oil posi-
bio peace reach US from Europe These and The gtv-
srnmcnt gold sale of 900, with the prospect OF
more OF the kind to come, werc Instrumental III
lowering the premium noted.
TRANSACTIONS or THE WEEK.
The following table represents the opening highest
and lowest Sales regular way. OF the principal stocks
during the past week, together with the number Of
shares dealt I'M