The New York herald., 1877-01-08
Review of the Week-An Irregular and
Eccentric Stock Market.
THE DECLINE IN GOLD.
A Sharp Investment Demand in Government
and First Closs Railway Securities
The Vagaries of the Money
Market-Mining Items.
WALL STREET,

SUNDAY, Jan. 7, 1871.
Coineldent with the advent Of the New Year comes
the birth OF fresh twelvemonth to the Stock Ex-
change. Though It cannot be claimed that the nnan-
cia bantng has made its appearance in very robust
form (or ante-natal impressions were prejudicai to
such condition. still it is to be hoped that naturally
strong constitution will develop more active and
satisfactory year than the have just buried out
OF our sight. Nor there wanting hopeful sponsors
Mt the baptism OF the New Year who confidently
''promise aud throe things in its name'':-First
Increased railroad earnings IRON faithful adherence
to the contract; second, political peace, which
will again set going tie wheels Of trade and third,
emergence from the shadow OF the hard times which
has SO long settled upon the country. II was some
what Of this feeling, perhaps, which started of the
week just passed with confident tone and preserved
1t, v .th some modulations, to the end.
Tuesday ami Wednesday notable for tho great
strength Of the market and the particular vigor mani
tested in the great trunk roads and in the coal stocks
II commenced 10 be credited that something would
grow out Of the railroad conference alter all partcu
ary when 1t became known that the chief officers had
taken the matter out of the hands OF impossible subor
dinates had agreed upon fixed and definite plan and
we're willing to publish the same openly. These facts
visbly impressed the quotations OF tn" leading roads
aud reflected tho prices obtained the
coal stocks (those of Delaware and Lackawanna espe
cially), though these latter helped on, no
slight degree by vague of reconstruction OF
the anthracite monopoly and by vigorous covering of
shorts the part OF bears, who, early taking ALARM
betook themselves to the inevitable scramble tor
shares and safety.
Tho critical condition OF Mr.. Vanderbilt
staining menace to the stability OF the market and
certain operators who. like Hogarths Idle Appren-
tce too good to cast dice upon tombstone
INDUCED In systematic selling OF Central and Hud-
son just before the close OF the with the hope
that old mortality would act as Crouper and rake in
the wages OF death before morning. In this however
Vanderbilts decease became known TO the street 1t
ell as lightly snowflake and made i'm
preston stock values than does the frozen crystal
frosty ground In fact after the first moment the
tendency OF prices was strongly upward, although the
movement was doubtless due to previous arrange
ment by which IL was sought to resist injurious do
cline or stay possible panic
For the rest OF the week have only to notice a
faIrly steady market, in which Western Union and
Ohios were conspicuous for activity and strength
sight OF gradual but steady decline of the premium
which has marked the price down TO the unprece.
dentedly low figure of 1861.
TRANSACTIONS OF THE WEEK.
The following table represents the opening highest
md lowest saes regular way. OF the principal Stocks
during the past week. together with the number OF
shares dealt in -