The New York herald., 1877-12-17
FINANCIAL AND COMMER(11.
Review of the Week-Speculation
Feverish and Heavy.
THE GOLD AND MONEY MARKETS.
The Course Of Investment ScCnritieS-COvern-
ment, State and Railroad Bonds.
WALL STREET,

There was but single .sappIe of god, discernible
In tho ptcures Of silver which pores conscripti
exhibited IN Congress during the last week, and that
in tho shape OF posi- ostponement OF tho whole mat
until alter the holidays The step was regarded,
In this quart.r at least, a reprove from a summary
OF the national credit aud possible loosen
ing OF the hangman's 8 which the silver fanatics
have twisted about INC neck OF the public faith.
Whether not the reprieve will amount to more
than q disappointing delay, TO be followed by con-
sgnment OF the national honor to financial Tyburn,
is hardly doubtful But OF such doubt as does exist
the gold market has taken advantage aud expressed
its hopeulness by dropping the premium from
1857 at the commencement to 1929 AT the Close
Early in the week thore decline also IN the rail-
road and miscellaneous shares, but it due to other
causes. The season proving a sickly in Gnan-
cal sense and the typhoid OF bankruptcy seems to be
seizng with unusual frequency upon private firms
and pubic institutions. The week just past has been
repletc with attacks Of this nature AT Newark j.,
there has been trouble with tho savings banks we're
enough 10 bring tho most prominent institution OF
that class in the State to grief; important mercantile
failures are recorded, both and the West while
the Of the National Trust Company OF this city
we are treated expose which is sorry
commentary upon the burst or virtuous indg-
nation with which the President met the early
imputations on It's credit. If the financial aspects
sons and deaications, SO rifs at present. are bad
enough, tho moral aspects are worse yet They dis
only rottennoss Of financial condition, but
alarming departure from The paths of integrity on
the part those who occupy places Of trust. Money
lost Is an individual matter and may be reganed;
trust betrayed by public officer is blow to the whole
community. Yet how many of these who appear be-
tore world in all tho lustre Of silky exterior
would be found examination to have cotton back
Ing after all? Under this uniavorabe condition OF
things the stock market adversely affected early
In the week and general decline took place. Lake
Shore, Michigan Central land the coal stocks
prominent in the la1l-the railroads be-
, cause tho bears cried thom down, and the
hracites because was stated that Mr.. Asa Packer
OF the Lehigh Valley road would refuse 10 countc-
, nance a combination, thereby weakening the conten-
plated rope oil sand by one strand at least. Toward
the end OF the week the engine OF speculation was re-
vcrsed and everything set going upon the up-srade.
Street talk, which had represented Mr.. Vanderbilt
o dvcstor oI Lake Shore, re-establshed him in his
favorite role Of an investor, while Ar Keene was
lugged in as a convert to the same opinion. Al the
sumo time the chances for a dividend madc to
look brighter and the general prospects Of she West
ern roads turbshed up under the anticpations of
improved business as the result OF fair weather
and the close of navigation. The coal
rers even outstrppcd the grain carriers on
the way to Improvement. Mr.. Packer did
not appear at the meeting, but his deputy did,
which the axiom OF facit aisss ocit
Sc was deemed to be the same thing. An adjourn
ment was taken, however, without doing anything
further Than to name committee with instructions
to report Tuesday next. Meantime spectators in
"black diamonds" left upon the anxious seat,
doubtful whether their will turn out bril-
Iants of tho FIRST water only Paals Royal paste.
Money, which had ranged at from to 8 per cent,
sLarpened up 10 l-64 at the end, though
final TRANSACTIONS were made at z per cent
TRANSACTIONS OF THE WEEK.
The following table represents the opening, highest
and lowest sacs regular way, OF the principal stocks
during tue past week. together with the number
OF shares dealt I'M