The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-12-03
FINANCIAL and COMMERCIAL.
Review Of the Week-MOre Excite.
ment in Speculation.
THE GOLD AND MONEY MARKETS.
Government, State and Railroad Bonds-Fi-
nancial Notcs-COal Production.
WALL STREET. |
SUNDAY. Dec. 2. 1877.

review OF last weeks stock market 10 confined to
the single bat very important fact that an entire re-
versal the OF speculation has occurred with
the establishment OF lower scale Of prices right
through the list The Righteousness exhibited by Lake
Shore early in the week was regarded display OF
jbbing propensites natural to stock which, having
been overridden under the whip and spur OF specua
son, declined 10 advance another STOP II was hardly
expected. however, that the favorite after refusing
would ANONYMOUSLY turn tail to the obstacles which
stood in tho way OF further rise and scamper or with
the bit in It's teeth the direction of serious fall
Il did 20, nevertheless, to the loss of some six
points on Its own and to the mmnent danger
OF creating q stampede among the other fancies. In
plain words the decline In Lake shore has been
steady continuous and persistent II has been the
same timc mysterious No one doubts that there
have large sales Of long Stock but opinion differs
as to the personality Of the sellers Mr.. Vanderbilt
through his sponsors, denies having sold shars Mr.
Keene holds on TO the strings OF his bag with the
tenacy Of chifonnier. and MI. Sage. threading the
tortuous path puts and calls, remember
whether he stepped out OF his way to realize not.
Apparently the stock Is suffering from marasmus, II
the above statements be credited, and is
simply weakening from hamilton. There are
base slaves, however, that have been made
to pay, whether they would or not, through being
long OF the stock, who do not hesitate TO declare
that and all OF the parties named, despite their
promises the contrary, have 'sold out upon them.
Their theory Is excusable one and, what is more,
q probable one. II has been apparent for some time
that the speculation for rise has become as It wsre
jammed; that blocks of stocks have accumulated In
few operators hands; that the public was coy Of
entering into the parlor of speculation the fly
to hold social Intercourse with the spider, and that
above all, railroad earnings, as based upon the ex-
and tha Cir war wa mt
coming up TO expectation. This particularly tho
case with Lake Shore, the receipts for November
being coniessedly unsatisfactory and the probabilities
or dividend growing smaller by degrees and
beautifully less. Until the last day or two
OF the week the main list remained surprisingly
strong but symptoms OF yielding were discoverable
on Friday and plainly developed on the day following
The grangers resisted best Of ALL establishing them
selves az o sort OF Horatus GOGGLES to defend the
bridge OF speculation against prcciptate stampede.
The decline In these shares ranged from n to per
cent; IL double that in Michigan Central and the
coal carriers the latter getting attack vertigo at
tho very end Of the week. Indeed the entire market
was. in the opinion OF financial doctors decidedly
"sickna case Of sfaling sickness in fact which in
matter Of proper treatment botherng was in
olden timss Although the distribution Of Lake shore
was the chet cause the MARKETS decline there were
other circum stances which helped it. The uncer-
taiuyy AZ the issue Of the Resumption and Silver
bills tho low pross OF COAL as obtained At the auction
Sales ana the litigation which threatens the compact
between the telegraph companies were OF dspres-
sing nature. In the end, however, more active
business ought result from lower scac OF prices
and general distribution OF shares since the preva-
lence OF directly opposite conditions has been one Of
the chief reasons Tor the existing stagnation.
TRANSACTIONS OF THE WEEK
The following ,abie represents the opening. highest
and lowest sales regular way OF the principal stocks
during the past week, together with the number