The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-16
FINANCIAL and COMMERCIAL.
Review of the Week-An Animated
Speculation in Stocks.
THE GOLD AND MONEY MARKETS.
The Course Of Government. Railroad
and State Bonds.
WALL SrRRET.

SUNDAY, April To- 1871
Tho events OF the past week have been OF such
serious importance and consequently SO fresh In
the minds OF readers that to recount them here would
be work Of supererogation. They give, however, an
opportunity glance back at the which pre-
cpitatcd them. II Ii fact we'll understood by stock.
jobbers that security which has lost lis speculative
attraction is tho susceptible attack and tho
same time less capable Of resistance than active
This condition is the dangerous fthe meagre
daily quotations suspected to be merely arbitrary
onos made Tor purpose. due to tho schemes OF pool
and irrespective OF actual values Tho matter
10 likely DO the state OF inactivity should
have grown out Of previous close corner. from the
fact that the stock is held by few hands
and these tie hands of speculative directors.
The Northwestern property has been suffering under
the blight Of all these uniavorable conditions. Tho
close corner OF some years since sent tho common
stock TO financial Coventry, whore to great meas
ure it'has renamed since. IL harcd up like
volcano In eruption and has been dead SINCE spccu
htvely, as an extinct crater. The natural consc.
auences followed step BY step. shrinkage In It's
values the inevitable result OF tho general deprcs
sion of trade and not to be resisted by any ar
clal support though the pool which has just to
grief stood by bravely 1t would have been better
had values been allowed to take their own way. which
would not have prevented shrnkage but would have
were In with the pool the worth OF the
security, and became less when II announced
that Jay Gould had gone into the drecton then their
prudence or tmidity II you will, prccipitated
tho catastrophe Yet with all this the
Northwestern property s worth much to-day as 1t
vas before the breakits value Ia simply illustrated by
different figures. But is not only the Northwestern
people that the gods have madc mad by subjecting
thom to attack Of Gould upon the brain; Rock
Island has received its dose also SO far tho injury in
aicted by Jay Gould's presence in the direction Is
rather moral than financial one for though IL has
not materially depressed prices. it has destroyed
confidence in q hitherto highly esteemed security.
Mr. Gould is just tho person to permit the hngcr-
ing Of 40. 900 shares lying conveniently about, and
Investors have so expressed themselves not only by
selling out their stock, but by refusing TO touch the
proposed new S. 900 loan. 1t will not be questioned
that sixty days since this loan would have been sub.
BcrIbed for with avidty. The bogus story which af-
sected the coal stocks needs recital here Prices
forced down under the pressure OF panic partially
recovered from while their future 10 dmmed by the
clouds OF smoke which we told exist without the
presence OF fire.
THE 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 in The aggregate volume OF business was
larger than Al any period since the panic OF 1873