The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-02
FINANCIAL And COMMERCIAL.
Review Of The Events Of the Wesk---Ths- Stock
Malkst Aciys and Weak.
THE GOLD AND MONEY MARKETS.
The Course Of Government and Railroad
BOnds--MOney Abundant and Easy.
WALL STREET.


It is worth noting as curious fact that, while tho
credit OF the nation Is daily becoming Grmer, rs owl
dcnced by the increased demand for the and
half per cents, the great Industries Of tho country
which tho lie blood OF that credit steadily
shrinking In values. Although the bear party, in
professional way, has greatly aided the depression It
can scarcely be charged bong ut the head and front
OF the offending II found an edince unstable and tot
tering, and II simply gave shove which tumbled II
Tho insecurity existed before tho iconoclasts got
to work, and tho destruction which followed tho
unpleasant consequence OF being "found out" Being
found out easy to trace back Tor and to
find them In the general depression Of trade, in stock
capitals that 'wrt in water, In lying statements
dividends paid but not earned, and general mis-
management Of affairs, which was made to conduco
to the profit Of gambling directors and to tho ruin Of
stockholders. So cncctually hoodwinked was this
latter class that they slow to perceive the danger
Of their position, and was not until heavy losses had
been incurred that they began to shake from their
shoes the dust Of Improbable Investments. This
cleansing process has gone steadily until the fight
of investors has more injurousiy upon values
than the sharpest attack Of the bear contingent But
every exodus has its promised land and dcluded capt.
tasts quitting the inhospitabe shores Of railroad and
coal carrying tancies, seeking the moro reliable
milk and honey that offered in government bonds.
Tho bank statement: exhibits decrease Of 900
specie reserve OF which 1t probable has gone into
the four half per cents 10 the injury OF the share
market and TO tho temporary advancement Of the
gold premium. Matters on the Stock Exchange have
boon black during the week as though the tenebrG
OF the church had wrapped thcm in their gloom. The
decline in prices was steady and serious For this,
tho telegraph stocks tho coal carriers and the trunk
railroads responsible Tho opposition OF the
Atlantic and Pacific Telegraph Company was expressed
with fresh vgor In further cutting OF rates. which 1t
Is imperative upon Western Union to follow, and which
broke tho price OF the stock from 90 to 57a The
coal Carriers although advanced early in tho week
tho belief that something favorable would grow out OF
the meeting or representatives Thursday, broke
down on Wednesday after the coal SALE and refused
to improve notwithstanding the companies rosou
ton that If thor product was unsuitable at two dollars
and half the best thing TO do was TO ask three Third
and most important Of all was the fresh break out
among the trunk railroads on the freight question.
II the old story all again, with its entertaining
chapters OF poured faith, charges OF cheating, GRIM
nation and NEUTRALITY-SUSPICIOUS. which VIC have
boon forced to read ad ndusedm aud which are as do
lectabIo descriptions Of honorable dealings as pages
from the Newgate Calendar. The actual effect upon
the market was to break down quotations from to
per cent and to leave them topsy-turvy both to
temper and figures at the close OF business OF course
u depression In such important interests could not
exist without creating certain amount OF pertufba-
among the lesser satellites Of the MARKET and this
was shown general decline, less marked, however,
than in tho OF the bigger planets. AT tho very
close things steadicd somewhat under the report
that tho railroad might yo be settled, at least
that efforts would be made week Ia that direction.
THE TRANSACTIONS OF THE WEEK.
The following table represents the opening, highest
and lowest saes regular way, OF tho principal
during tho past week, together with the number Of
shares dealt ia