The New York herald., 1877-07-02
FINANCIAL AND COMMERCIAL.
Review of the Week. Speculation Dull
and SpiritleSS.
THE GOLD AND MONEY MARKETS.
Investment Securities Government, State
and Railroad Bonds.
WALL STREET.

SUNDAY, July l, 1871
The events Of the week just passed present scanty
materials for a review does the Duchess Of Gero
stems army when submitted to similar ceremony
before the iootlights In fact If the Delaware and
Lackawanna people had not como to the Fri.
day with their parade OF nm additional debt there
would have corporal's guards worth OF IN
lerest the week through. The early days were noted
for nothing but dulness tho OF shares
changing hands being easily expressed by five figures
and the degree OF activity feeble enough to
within the sympathetic comprehension Of Little Neck
bivave. Nor were the lew operators engaged ono
whit happier than this esculent is affirmed TO bo
when tides run neap, for ofort 10 sell
long stocks created q nu.ter in the market
akin to that produced b. hawk in hen roost aud
an effort to cover, that would do credit the
rightcompelling paroxys sms Of a maddened spi.x In
the first CORY to be found tho prominent rail-
road ancies In the second the coal stocks. The up
town spectators are realizing that their metempsy.
Ghosts from bear to ball has not been productive OF
satisfactory results. II was easy enough to the
way in but to the way out is difficult, even
with the light OF the bow window TO help them New.
ertheless under the existing cheapnoss of money
stocks nearly carry themselves and Will be no hard
ship to wait tor the fall when II is devouty believed
that now and more promising leal will be turned
over speculation. Holders of coal Stocks however
In the daily bread which bonus upon loaned
stock furnishes them WITH The 'shave" as
general thing is small enough, since II seldom cx-
ceeds 132 per day, but in these dull times behoovs
one to be grateful for homeopathic treat ment rather
than to receive no treatment at all AS every one
knows. holders Of anthracite shares received unex-
pected wndiall through the course OF the Delaware
and Lackawanna company, which executed the rather
paradoxcal feat of increasing its bonded DEBT and the
price of its stock the time. Not only this but
II added several points OF strength to Its Morris
Essex leased line by cutting away material part OF
Its underpnning, thus proving that the financial
gincering and civil engineering not TO be takou
governed by principles identicay the same Part Of
The advance in Morris and Essex due to the short
Interest and part to wild story that the were
sndeavoring control tho line by purchases shares
The object Of course would be annul lease no.
difficult matter when the parties of both parts would
DO in accord) and 10 get rid of having pay guaranteed
dividend OF per cent SIS oO0 900 OF stock which
has been able to earn dollar for its stock.
aoders. But with this control of the concern obtained
wnat is to become OF the minority OF tho stockholders
Who holding on, VII have little to say OF its manage
ment they will be hopeless OF dividends; and what
will become Of their stocks, which will be only valu-
,bIe the controlling and only ut its own
price Railroad shares during the week free from
exciting Influences but kept strong by pur
FOR account Of the Fifth converts, who talk
crops foreign wars ana economy OF managemcnt-the
latter through the general reduction of 10 per cent in
Eages-wth an almost persuasive glibnoss West.
mn Union, which, in respect to the anthracite and
railroads proper holds sort of neutral POSITION was
lternatey strong and weak. Reports that the earn
ngs better than had been represented moved tho
quotation upward but it failed to hold other re.
ports that would be cut TO New Orleans ad.
OF tha opening OF the Atlantic and Pacific wire
that CITY, Gold did not vary beyond per cent, being
heavy at the beginning and frmer At tho OF the
week. The sale by the Treasury OF $1,000. .0O0 the
prepayment OF the July interest without rebate and
the foreign shipments, which light the only
events to disturb the prevailing dulness
TRANSACTIONS WEEK.
The following table represents the opening, highest
and lowest prccs regular way, Of the principal stocks
during the past week, together with the number OF
shares dealt n:-