The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-02-19
FINANCIAL AND COMMERCIAL.
Review Of the Events Of the Week-Animated
Speculation, with Irregular Prices.
The Gold and Money
Markets.
MINING INTELLIGENCE.
The Course Of Government and Railway
Bonds Investment Securities Lower
Money Still Easy.
MINING INTELLIGENCE.
WALL SrREEr,

SCNpAf reo. 40, Aoit. !
In point OF speculative Interest tho coal stocks. ike
Aarons eerpent, have swallowed up the rest Of the
market The entire week passed in the discussion
OF concerning these properties, which ranged
from the realism OF fact to tho realms OF fancy, but
each in It's aordng fair excuse for speculation.
In tho early days of the week New Jersey Central
stood at tho head of activity; amcntabe tales OF bank
ruplcy and ruin came thick and fast, and threats OF
assumed more alarming shape than ever Ons
Wednesday 1t became definitely known that Mr. F. s.
Lathrop had been appointed to tho above position
petition OF the Lehigh Navigation Company and close
upon the heels OF this action the report OF the
committee named to investigate the affairs OF the
company. Regarding this latter in the light
Of post-mortcm examination tho discover
les made of the most damaging
character Not only the ravages of disease found
to deeply seated and of the extended nature,
but ascertaincd that they had existed for long
period OF years There strong reasons. too to
suspect foul play for Of the slow poison Of bad
management were abundant
Tho signs of robust health, had been manifested
in the distribution of liberal dividends turned out to
be but hectic flush, at once deceptive anu pregnant
with danger. In word the autopsy revealed state
OF things rotten as punk, as hollow as Dead Sea
apple. Under such revelations, II Is no wonder that
the price should fall from Is to TO- though recovered
to 1ls in final sales. Under the malign influence OF
jersey Centrui DcluWaTc huu LaCkaWannu, DeluWaTc
and Hudson and Reading, all sunk TO low ngures the
first receding from 60 to 65, the second from 52s
TO 49, and the third to %. This occurred. too, de-
spto the brisk buying of the Delaware shares
by the Osborn party and the scarcity OF cash stock In
The Hudson concern which taxed bears on borrowed
shares as high as " to 4 per cent day. An extra
turn of the applied TO Delaware and Hudson
In the shape of queer proceedings, which looked
like an attempt to steal IRON under the very
eyes of Justice, for too tightly bandaged
whether Il were bond fde or bogus whether cry OF
real grievance move in stockjoDblng plot Is as
yet unknown still the effect produced of knock
ing tie quotation down some two points. Tho order
10 show cause why receiver should not be appointed
was, under the plea Of a nisapprehension, vacated
almost granted and, the fact reaching the
street IN official shape caused rally to nearly the
highest points OF the week. Although the main
interest Of tho market centred about the coal
stocks large business was done IN West
ern Union and Lake shore, both stocks showing
poorer appreciation OF their values at tho end Of the
week than at the beginning. According to report tho
California spectators have struck hands with Jay
Gould in plan y enter the Atlantic and Pacific Tele-
graph Company as a formidable contestant with the
Western Union Company in the race Tor public patron
The necessary funds, Is said, will be put up to
back the enterprise, and advance has already been
made toward extending tho opposition through the
ACQUISITION by Gould's company OF the lines and bus
ness of the Baltimore and Ohio and connecting roads
The rivalry between tho lines cannot but be ad
yaptageous TO the general public, whatever may be
thought OF 1t by Western Union stockholders These
gentlemen however, may derive consolation from the
old saw that .Compctition is the life OF trade" and
cheer up accordingly. The unhappy history of the
coal stocks, with the sad fate OF investors
| therein, has produced widespread feeling
of uneasincss among holders OF all high
prced railroad and exhibits itself in prac
ucal way by an increasing disposition 10 bring the
shares of such properties to market This has been
seen in the last week by unwonted activity in Bur-
lncton and Quincy, Central and Hudson and Rock
Island and gradual Blu. unimpor.ant yielding In
prices.
rather strong effort was made to break the Wander
bit property by free offerings OF seller sixty options
ana an attempt "talk" 1t down by offering the
dividend at TX per cent. Whatever the upshot may
be progress so has been very brilliant, and
The case of Burlington and quincy next to nothing
strong parties stand ready the stock at
prices
4 Az for tho rest of the railroad list, IL exhibited
| ,vmpathetic tendency toward lower ngurcs but in
moderate degree while among the miscellaneous
stocks Atlantic and Pacific Telegraph and Pacific Mail
made the best figures tho week in final dealings At
,be very close the tone of the market somewhat
nv reason of the quoting down Of the anthra
cite fanci es.
Tho following represents the opening, highest and
lowest sales regular way OF tho principal stocks during
the past week, together with the number oil shares
ldeait In