The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-28
FINANCIAL AND COMMERCIAL
Review Of the Wssk-Spcculation in Stocks
Generally Active, but Dull At the Close.
THE GOLD AND MONEY MARKETS.
Government, State and Railroad Bonds-Money
Abundant and Easy-Mining Intelligence.
WALL STREET,
SUNDAY. May ~, 1877.


Tho past week was nearly barren Of evcnta Not
even the speculative stock brokins 'snps" who
wont to fashion curious specimens o. meudacty out
OF whole CLOTH and thesewith affect the Market
Ablc 10 turn out pieec oil handiwork In any way
crsdablc feeble attempt 10 influence me price Of
che coal stocks by alternately afrming and contra
ctiSg reports Of M Governs action In regard to the
plan for a suspension Of mining was abandoned
tho end Of tho week, when It was learned that
the gentleman had taken no action Whatever Never
thclcss tho representatives Of the various companies
went through tho forms OF m agreement we'll knowing
that u was simply house OF cards they had con-
sirueted which a dsspproving breath from The
Reading President would PROSTATE The direct effect
Of these reports ana counter reports was naturally
10 create a fcverish and Irregular Market which
professional operators used TO advance or deprcss
prices TO the extent Of a per cen. The sensational
lists successful when directing their atten
tiou 10 the railroads, partly because the heM was
widc and partly because they had grounds or
truth 10 work upon II turned out that tho peace and
harmony which had been arrived at with 20 much
difficulty BY the prom inent roads threatened with
disturbance not by under cutting of rates. but by
Under cutting in time OF transit between Chicago and
New York. BY an ingenious application Of the pro-
cess known as "beating the devil around tho stump"
The Pennsylvania line and its connections reduced the
running time for passenger trains between the above
cities scvera, hours The schedule OF ares as 'snamcd
In the bond" strictly adhered to, II
10 true but a lively bid was At the same
time made for all such passengers az preferred
speed 10 money. Tho Central ana Hudson people
were irate Of course, and, mounting the activities OF
their cars prepared do battle. Not by establishing
competitive fast trains ~ would seem NATURAL but by
threatening reduce fares from $23 to SIS by tho
slow coaches II the fast ones we're net Withdrawn.
s~syyya tao
and bids fait to direct railroad speculation during
the coming wsek Meantime its outbreak had de-
pressing Influence upon the shares Of the trunk lines
which fell on from TO per cent though fractional
recovery occurred nj the end. Western nion which
10 speculation per Sc, and Is unaffected With entang
ing alliances Though the Atlantic and Pacific orpo-
,on is exasperating burr in its sidc), 1ucuated
,elween tho limits OF two points, being depressed
Early In the week by reports OF diminished receipts
md advanced later on by contradiction OF
tho same and the further Information that
tho usual dividend was being earned and would un-
doubtedly DO paid Considerable comment was Gre
ated BY the announcement from Washington that the
Secretary Of The Treasury would Thursday next sell
81, 00o 900 OF gold Mr. Sherman has made no sign OF
Sis policy II he has any to make and It is therefore.
alAncut TO divine bis Intentions Enough, however.
10 known OF tho pcfncious effect OF converting the
Treasury into gold gambling concern by previous ex
amples or the SORT and the present step Of the
Secretary 10 met with almost universal condemnation
The gold offered Is probably . part OF the amount
realized from the zale OF 900 * per cents and
in that case belongs 10 the 1vetwentes redemption
fund when these latter are to be paid for another
visit to the rold market viii be necessary this time
a purchaser) with tho attendant evils OF a renewed
disturbance OF the premium and state OF doubt and
uncertainty in the interim
TRANSACTIONS or THE WEEK..
The following table represents the opening, highest
and lowest sales regular way Of the principal stocks
during the past week, together with the number Of
shares dealt In - Hulk