The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-01-29
FINANCIAL and COMMERCIAL.
Review of the Week-The War Of
Bulls and Bears.
THE GOLD AND MONEY MARKETS.
Government, State and Railway Securities
Interesting Mining News
WALL STREET.
no llHA

WALL STREET /
SUNDAY, Jan. %, 1916
Wall street, for the major part OF the week past, re-
NAMED with ono eye fixed upon Congress and the
other on the price list II rather agreeable
condition strabsmus than otherwise the oblquity
OF vision was thought to be Of cure under the
hands Of Congressional DOCTORS and the restored sight
was centre upon the view of fresh confidence,
higher values general look forward to growing
prosperity. Things however, did not fall out as was
expected. No sooner 1t assured by the passage Of
The Electoral bill that everything IN Stock Exchange
matters to 60 right than ut everything went
wrong The higher prices that bulls mouths watered
for faded away like fog, bears grown NANCY appeared
aggrcssvcy sleek and snarlng and the entire specua
ton experienced complete revolution at the end OF
the week. At the beginning of the SEN might things
ruled quito differently, for then the nigh
est prices were made and everything pointed
10 sustained ana vigorous bull campaign. The
California party, which had braved tho rirors Of
Eastern winter with the purpose OF teaching New
York stock jobbers show to do things carly mani
festcd Keen appreciation OF the beauties OF Western
Union and subsequently transferred their attention to
Lake Shore In a perfectly satisfactory way, too,
far easy accumulation Of shares went for. under
very moderate advance in quotations. free supply
OF real stock long locked up and waiting Tor release,
flowed In upon their hands, So the process agree
stance, sslike tho gentle rain from heaven" which
.'besscth him that gives and him that takes''
Augures certainly propitious upon which to
advance the market; widespread and hopeful
feeling, founded upon the prospective SETTLE
ment OF tho vexed Presidential question, had
sprung up; the great stumbling block In
tho path OF prosperity to be cleared out OF
the way; merchants rubbing their hands at the
glimpse of tho bow Of promise; money growing
sasicr and seeking investment, and. in general
archaeological terms, the bird that saved Rome was
beld in envious exaltation
Unfortunately the roseate outlook was exaggerated,
and far deceptive that the supporting short interest
frightened from tho market, and nearly the whole
army OF operators, great and small, became ranged
apon the bull side Of the speculation In the absence
Of public (Which some sanguine ones expected would
appear upon the stage OF the Stock Exchange with the
suddenncss OF harlequin through trap, and with
only meagre demand from the BEARS the efforts Of
tho cques sell out and realize profits met with
success.
Consequently Lake Shore fell from So to 54ss, West-
ern Union from Is TO 1873 and Michigan Central from
60 to AK, these being the highest and lowest prices
Of the week and Of tho stocks that most directly
under pool man pulations.
An influence disconnected with clique movements,
however, and which lent additional heaviness to specu-
Iaton at the end OF tho week. cropped out in tho de-
moralized condition Of the coal stocks
The previous sales with their
returns, had depressing tendency, and these were
followed by various reports in regard to financial
barrassments within themselves and of moneycd din-
cult,es among institutions which had either advanced
upon their securities discounted their paper
Whether truo or false the of disastrous
effect evnced by fall in prices, which ranged from
~ to ca per cent and left quotations but little i'm
proved on Saturday night.
The St. Paul stocks another tainted spot in the
market, showing, they did, recession OF
some threa points for tho week. Bad busi-
aud worse stories, that will BIO sifted
when the timo comes, are hanging like
Nightmare over these properties, with little promise
Of pleasant waking In the near future. Beyond
tho stocks above spoken the remainder list
was buoyant Respondent received the from
the more prominent fancies.
At the very of Saturdays market the pressure to
soil gave way rather active covering Of the BEARS
who in view OF the intervening Sunday were anxious
10 close up their short contracs there appeared
ZONE disposition take Western Union for the long
account
In word, the market closed steady, but without
any index as whether Mondays business will show
. further Improvement or another downward plunga.
THE TRANSACTIONS WEEK
The following table represents the opening, highest
and lowest sales regular way, OF the principal
during the past week, together with the number of
shares dealt ms