The New York herald., 1877-08-27
The Stock Market Active and Strong
Review Of the Week.
THE GOLD AND MONEY MARKETS.
Investment Secunties-Govemment, State
and Railroad Bonds.
WALL STREET,

SUNDAY, August ~. 1871
While the leaders OF tho existing bull movement
would be slow in expressing belief that the presence
f one swallow eau make they do not hest
,te TO aff IN that the garncrng of single crop il
'fncIent to restore the sunbeam OF prosperity ioan
npoverished country. Whether they serious
Ut, csnnot be gainsad that they have far prac
caly backed up their professions However, as spec
ators OF the deepest dye and notorious In days
or slcght OF hand performances in the stock Market
. 'vhich IN many clever than honest,
may be excused Tor doubling whether they ex-
'stiy the oi people ITO be known by their
worss," though they apparently gorge themselves
with stocks as deity as The vagabond saitimtanque
swallows his sword. For than month
now we have been treated TO "a rampant
speculation, exceptional for this timo OF year,
nnwurrantablc in many respects and comprehensive
Enough In its range to embrace not only the Trays
Blanchcs and Sweethear,s OF investment stocks. but
even such 'curs OF low degrce appear IN the shape
OF psyeI out fancies II is not disputed that the
more than usually abundant harvest, promising mar
kets and the improved condition OF financial matters
rs duo to n long aud painful liqnidation-have offered
g. oil for a reaction reaction, however, to
be radical aud lasting must grow out OF slow con-
valcscence, and be the result OF magical at
has been performed the great bull leaders would have
innocent pubic beieve-up to such time, at least
ihcy shall have caJoled them into shoudering the
load Of accumulated shares. Thus lar tho public have
turned tail TO the whole business, and though this
position may invite the attention oil the
salt sprinkers OF the bull faction they keep
safely Of catching distance In TACT, instead Of
appearing buyers outsiders are in tho market as
sellers particularly in cases. when for long weary
months they have hoped against hope; or at most they
touch stocks gngery guard against loss by stop
md ma n nar is said 10 q
upon bis FORM with eyes and open, ready to bolt
Rt the first appearance OF danger Briefly the public
(upon whose action the ultimate success Of the move
ment rest) not yet ready to believe in the advent
Of 4 commercial millennium. Remembering the dsas-
ters the distress aud the impovershment OF the last
four years. they doubt efficacy Of the elixir OF life
which has 81 miraculousy discovered. bounti-
ful harvest coniessedIy national blessing, but II
has scarcely power enough revive corporations that
are utterly bankrupt squeeze the water out OF drop
Dcai stocks and make up the losses which have
tailed upon many public interests by mismanagement
worse. The week Just finished was notable Tor
luuuuce Of the upward specuiaiion The chief FLIP
given TO it irlm the acton OF the joint commit
lees OF the Western Union ana Atlantic and Pacific
Telegraph companies, by which the latter concern was
handed body and breeches 10 ITS cidecdm rival
The certainty that this arrangcmeD. would result in
marking up OF rates for messages advanced The mar
ket rce Of the former stock from 7S1s TO S3ss and OF
the latter from lss 21 The settlement, however,
destroy ed much OF tho speculative interest," and a tho
close OF the week there some diminutlon both IN
prices aud Transactions The greatest ADVANCE, how
ever was be found In Lake Shore, which gained be-
tween and points IN the weeks work II is an
open secret that Mr. Vanderbilt the prime mover,
aud spectators have been eager to share
II with him we'll the benefits
that likely Various stories were rile as
to the reasons for the movement and each had It's
effect in turn. The road TO be leased to New York
Central guaranteed rate OF INTEREST," ten millions
Of common stock were to be cancelled and willy nilly,
and particular the stock was to DO car
red to 20 the ipse dirt OF Mr. Vanderbilt, which
was the most satisfactory announcement oi all AT
the end OF the week the price Jagged back, and the
quotation closed decidedly tender The upward i'm
pulse also impaired TO the Western AMI Granger
socKs the being strengthened by reports OF in
creased earn ngs. disposition TO realize during the
last hall hour OF yesterday met with an irrcsponsive
market, aud prices closcd irregular and feverish.
TRANSACTIONS
Tho following table represents the opening, highest
and lowest sales, rcgu wav of the principal stocks
during the past week, together with the mbcr OF
nharcs dealt In -