The New York herald., 1877-02-05
FINANCIAL and COMMERCIAL.
The Events Of the Week in
Speculative Circles.
THE GOLD AND MONEY MARKETS.
Government and Railway BOnds-0ur For
cign Commerce Mining and
Mercantile Items.
WALL STREET,

SUNDAY, Feb. a. 1871
Tho event of. the past week. vastly moro important
than wrangle Of balls and bears the artificial
values made for stocks by schcming manipuators
has been decline OF gold TO 104, the lowest point
reached since the suspension OF specie payments
Gradually dropping under the influence Of natural
sauses and unaffected by any pressure the part Of
engineering cliques the premium has quietly
reached the above satisfactory ngure scarcely
elicit moro than passing commentary by the public
at large, and to fail entirely TO creatc even momcn-
tary furry In financial or commercial circles While
financial doctors disagree az to the future treatment
Of tho case whether to lot well enough alonc
to the rccupcratve powers Of healthy OF trade,
or to apply certain legislative remedies to dssipae
The remnant OF the evil still remaining II Is quito ap-
parent that radical cure is desired by both partes
who only dner as to the to be employed.
somo little impulse given tn tho decline by an i'm
preston that tho President would urge immediate
resumption; subsequently when IL became known that
hc would favor hasty action but would recommend
The conservative course Of funding $3.50 900
legal tenders in the shape OF fortyyear four per
bonds, the premium stneped fraction and LETT the
price al the close OF tho week at 1851
1t is probable however that this slight reaction was
due quite as much the covering OF shorts and to the
temporary investment Of considerable amounts in tho
called issues OF government bonds as to tho above
reason.
In the stock market changes Of values were due en-
hrcly to circumstances originating within its own
limits, and unaffected by the condition of
pubic and commercial affairs either at home abroad
rhc coal stocks made the stalking horses of tho
ipcculatop, and New Jersey Central appeared the
war horse Of tho stud In popular esti-
nation II voted a sorry jade indeed;
abounded points, but they all
,oits disadvantage and its best friends unwill-
Ing to give warranty deed for soundness Its value
had been questionable enough before, but was
dered moro by free distribution of rumors, which
not only backened It's financial condition, but
threw shadow upon such institutions as had money
dealings with IT, II reported that Mr.. knight, the
President sick of tho job and would give way to
receiver, that the company would default upon its
February interest," that its paper In the hands OF
notary-in fine, that msiortunes coming upon it
snot single spies, but in battalions." Matters
madc worse by the ndiscreet action Of the directors
In holding meeting with closed DOORS through which
caked out few distorted facts and moro distorted
ictons. second meeting, to be held on
Wednesday next 1t Is satisfactory to know, will
be freed from the above Objectionable feature.
The natural effect these scandals create free
sales of long stock principally account Of Phadel
pha holders and to invite vicious fling from hungry
pears; II surprising that break in prices
mould occur W carry tue quota-
lion down from 80 to 21A, although 1t subsequently
improved to 20X at the close OF the week. Nearly tho
entire list was adversely affected by the weakness OF
lhe Jersey road and great degree followed It's for
suncs in the way of fluctuations
Western Union and Lake Shore were not FREQ from
Mis influence, which at times proved paramount to
The efforts of the pools to sustain these favorltes
There was disposition to push these stocks for
iurthcr rise. but simply desire to unburden them
selves OF a load which has been anything but profit
ble and in this effort they still engaged at tho
Ial of the curtain Saturdays performance. To sum
up may be stated that prices were generally lower
ut the close OF the week than at tho opening, but bet
Ter than had at time peon tho case.
THE SALES THE
The following table represents the highest and low
est sales, regular way, OF the principal stocks during
the past week, together with the number OF shares
dealt in: