The New York herald., 1877-10-22
Review Of the Week-SpeculatiOn
Active and FeveriSh.
The Gold and Money!
Markets.
THE COURSE OF INVESTMENT.
Securities, Government, State and
Railroad Bonds.
WALL STREET,

u, tts j
The ono pronounced feature of last weeks business
consisted the thorough dsnegraton ofhe bull party
and the reversal OF the speculative movement. At
the very opening It was clear from the irregular and
fcversh condition Of the Market that something was
amiss, and matters continued to grow more perpex-
Ing until the mystery was solved as stated. II Is an
open now that some Of tho largest holders,
finding the public remain deaf addcrs their
charming tcnarmed they never wseiyb exhibited
something oil the wisdom Of serpents themselves by
sezing the opportunity and selling out Later they
were followed by their moro slowly moving partners
who coming in after the cream gone, obliged
to put up with the skim milk prices OF declin-
ing market The wiseacrcs Of the street,
who make nothing Of seeing into millstones
and map out the middle of next week with
the ease Of clarvoyant have settled 1t that Messrs
Keene and Vanderbilt are now shedding the bag" oi
undisributed stocks between them, with tho "heit"
OF the burden the shoulders Of tho former. Fur
thermore 1t is accepted TACT that Mr. Could fur
nshed with new set OF claws and incisors, is going
in for a vigorous bear campaign, having already
shown his by extensive sales ot LaKo Shore and
Western Union, and that at least one OF the liberated
bulls has constituted himself parccps criminis in tho
attack upon values. This Is the situation in nut
she'll which need not be cracked 10 prove that
kernel OF truth lies within. The first day or two OF
the week were enlivened by what promised to be
sharp corner Michigan Central Advantage was
taken OF tho belief that both Gould and Sage were
largely short OF the stock to bid up prices
and make shares scarce for delivery. BY this means
quotations were marked up TO 74E, and borrowed
stock commanded from y to y per cent bonus for
The squeeze however, died out as suddenly and mys-
terousy az had commenced, and at tho end OF the
week tho stock had declined II points, while per
cent was paid for carrying. Western Union foil OIL
under pressure soil, aud from the unsatisfactory
state Of The compact between It and Atlantic aud
Pacific 1t is now stated that when the pro rata
division OF earnings was xed upon nothing done
about tho division ofexpensss "Hence those tears"
which are being shed Dy those who hopefully bought
upon the value OF the combination, and hence tho
invidious remarks. not loud, but deep we'll that
the whole may be nothing better than stock
gambling "plant" alter all. There has been trouble
and trbulaton among the lighter fancies, arising out
OF family quarres Hannibal and st. Joseph and ONO
and Mississippi not free entirely from suggestions OF
gore but without overt acts Erie has remained
steady in face Of declining market, and points are
rife that higher prices will be attained. The lowest
prices in the general market reached Satur-
day morning. partly from continued sales Of long stock
and partly from demonstration from the side OF the
BEARS who derived their incentive from somo baseess
stories attacking solvency Of two three financial
institutions Money on call ranged during the week
from per cent 1872 and interest, but with most
transactions made at to per cent le.
TRANSACTIONS WEEK.
The following table represents the opening, highest
and sales, regular way, OF tho principal sock
during the past week, together with the number OF
shares dealt in