The New York herald., 1877-07-09
FINANCIAL and COMMERCIAL.
Review Of the Wcck-SpcculatiCn Dull--The
stock Market Strong.
THE GOLD AND MONEY MARKETS.
The Course of Investment Securities
Government State and Rail
road Bonds.
WALL STREET,

As o stone cast into quiet pool creates series OF
concentric rppes, does close holiday In the mid
die Of the week communicate wave OF dulness to
tho business days which precede and follow II. The
s.gorous Fourth" had precisely this effect The week
had to encounter half holidays and whole one,
and the effect OF the stoppage was to dwarf transac
tions quiet fluctuations. Necessarily events were
lew and unimporant and call for little comment Tho
early days OF the week chiefly notable for a
tinuance OF tho activity in tho coal stocksan activity
which had been born OF the Delaware Lackawanna
mortgage and nursed over the week with all
The attention that the Sairy Camps OF the bull
party could give it Whether this activity
not really congenitai weakness sim
ply stimulated by speculative gin, or whether
It began to be believed that the circumstances
preceding its birth OF doubtful legitimacy, GER
tan It is that the squirt died outright before the close
the week and the stocks themselves buried out
Of sight of public attention. Meantime the transfer Of
Interest had been made to the trunk railroads and
Western shares, Lake Shore and St Paul preferred
leading Off In point OF activity The Vanderbilt road
was chosen as the corner stone OF the new speculation
and, very oddly, by the very master workmen who
we're wont to decry Its value in unmeasured terms
what time the price ruled higher and business was
better than the last report shows 1t to ba Truly the
wnys OF the street past finding out but must be
accepted like ''giit horse"-without examination.
Under free buying by the longs and equally free buying
BY the shorts, an advance was made and retained
Of about three points Tor the week. II was quite evil
tent, however, that the movement, like Mr.. Pick
Sicks cab horse, must be kept going or there would
10 bad tumble, and this verified on the several
ccasions that the pool attempted to sell by an mme
ate recession in price. Nevertheless at the close Of
business yesterday the movement getting along at
brisk tro head and tail up, and nearly at the best
Hgures that Had been made Next in order the St.
Paul stocks wheeled into line upon the march to
Improvement, and the Hannibal and ST. 10 fancies
followed but gave out before they had covered much
ground. The decision In favor Of the latter company
of the $4 900 suit impaired sufficient strength to
carry up the common shares ~ per cent, and
the preferred sort per cent-it In fact did
more, for 1t enabled holders to market con-
siderable lots at tho improved figures, which
process speedily reduced quotations to where they had
started from. Central and Hudson, Michigan Central
aud Western Union aoated along pleasantly Ia the
current which had been created for Lake Shore, but
developed no motive power OF their own Railroad
bonds rather higher under moro active inquiry
from investors who had drawn their hafyearly divi-
dends and gold renamed the entire week dull and
steady between the quotations of I05 and los with
sales At 1861 at ths close.
TRANSACTIONS TIE WEEK.
The following table represents the opening highest
and lowest prices regular way, Of the principal stocks
during the past week, together with the number Of
shares dealt in:-