The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-08-20
FINANCIAL AND COMMERCIAL.
Review of the Week-Ihe Stock Market
More Active and Very Strong.
THE GOLD AND MONEY MARKETS.
Investment Securities Course Of Govern
ment, State and Railroad Bonds.
WALL STREET,

SUNDAY. August 10, 1871
The stock speculation during the past week has been
very active for the dog days, the total number of
shares dealt in aggregang over looo,o oo business
which would disgrace any week the busiest part
Of the year. The advance Of the last month was in
tensed during the past week. and tho highest figures
that Wall street has for long scored.
Whether It Will be possible the clqucs who now
ruo the street to keep prices their present figures
without aid from tho public 1t is difficult TO say
but the prospect of good crops and a conse
quent increase in the moving business ought
prevent any great relapse for the The
feature the week has been the meeting of the
mittees OF the Western Union ana the Atlantic and
Pacific companies II has long been apparent that the
present low rates for telegraphng would preclude any
possibility OF either company dong paying business,
and before tho present low rates prevailed the
Western Union unable 10 its dividend, which
was paid out of the surplus Of last year. letter was
consequently sent to the Atlantic and Pacific
company by their rival, asking them to appoint
committee of three to confer with similar
Western Union committee as to what should
be DONE These committees met twice and finally
adjourned until tomorrow (Monday) when they are to
have their last talk The members OF the committee
have very reticent TO what TRANSFERRED at the
meetings, but it has been semi officially announced
that OF the Atlantic and Pacific directors who with
their nangers-on, nolu IN tnat
stock, had made private arrangement with the West
ern Union by which the latter company was to buy
their stock $25 SHARE and thus acquire control Of
the Atlantic and Pacific Company. II this be really
so-and it is generally bclieved--the unfortunate
Atlantic and Pacific shareholders will find them
selves IN cad mess, as it now remains
with the purchaser TO ok the value OF
their property and no doubt he will estimate
1t very low So they will remember in their misfor-
tunes not put their trust princes, though
They arc conscientious church members The eject
Of this report sent Western Union up from 711s to
1914 and all the rest Of the market taking hand in
things were pretty lively.
The week has also been envened by the publication
Of three OF those Interesting literary productions
vclept 'reports" The FIRST both in time of publica-
ton and literary merit is that OF tho Delaware and
Hudson committee. 1t will be remembered that the
annual meeting last May appointed committee Of
shareholders to examine the affairs OF the
company, and, these gentlemen having no doubt
met and partaken Of various glasses OF sherry
and boxes Of Albert biscuits, and having been
whisked the roads belonging to the company at
sixty miles an hour, have now issued voluminous re-
port 1t consists of l04 pages and map, ana contains
q amount Of geograph cal and general Information
Upon the Immediate position OF the company il is not
however, so complete. and the directors themselves
poration financially strong" says the committee;
then say the directors 1--WE will ssue $40 900 900
mortgage" Tho report says
Fixed charges. which include interest on bonds and
rentals OF leased lines, are less Than s., 900 600
nuaily Applicable these incomes from railroads
oil other sources except coal, amounting to
S. 900 900, leaving TO be met by profit coal deact
Of rather less than 81, 000. 000
In the first hall oi the year profit has been mace
Notwithstanding the low prices Tor coal which pre-
vailed Upon present production average receipts of
So per would fixed charges and all in
OF that SUM would be applicable to dividends.
Upon production OF 1000, 900 tons, average re-
cep,s 81 per would pay all charges and restore
TO the corporation its former prosperity
The company's mines and equipment Of a
,paciy to produce annually ,000 900 tons OF COAL
The incomes from all other except coal are
put down here at 81 OoO, OOO but examination Of
The report fails to show how this is arrived at
rhe ncome according to the report, does not amount
nearly this sum, and the deficit to be made up by
The sale OF coal 500 900 $780, OOO
The other reports issued during the week those
Of the Northwestern and Wabash roads, and do call
for any further comment.
TRANSACTIONS THE WEEK.
The following table represents the opening, highest
and lowest sales, regu way, OF the principal stocks
together with tho number OF shares dealt in-