The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-07-30
The Great Strike the Event of
the Week.
A GENERAL REVIEW.
Course Of Events in Stocks and Government
and Railroad Bonds.
fHE GOLD AND MONEY MARKETS.
WALL STREET,

SUNDAY. July 20, 1871.
II ID not often that tho dog days provide With
stirring week as the ono just past Tho news from
Pittsburg, published hero on Sunday, prepared an
anxious night for spectators who out Of town,
and the early hours of Monday saw a mounting Of
trains In hot haste by the herd OF bulls which fully
believed that chaos had come again Indeed, at the
opening there seemed to be good grounds for this be-
lief for under the united dash OF bulls and bears-tho
nrst 70 realize and the second to sell short tho
Eet gave way in an alarming manner To the astonsh-
ment Of everybody, however before matters became
serious latent supporting power developed ITSELF the
decline was checked and prices turned the other way
Nor did tho stop here for the days grew
on and the rotvus proceedings began simmer
down, . fre-h impulse gwen to specula-
ton, and the week closed with u schedule OF
quotations and degree Of strength that in forc-
bic contrast to the weakness OF the beginning. The
modern financial Archimides who undertook to move
tho market upward against odds, csvery availed
himself Of tho leverage offered FIRST by the seadnoss
OF Western Union, ana second by plausible theory in
connection with the coal stocks The strikes were
undoubtedly beneficial to the telegraph fancy and the
fact was demonstrated by its nrmness, and when SUBJ
sequenty there revived the old story. which is
certain OF periodical temperance rs the seventeen
year ocusts, of combination between the rival lines
from that moment the stock took the bit In It's teeth
and ran away completely out OF all bear control Tho
highest and lowest points for the 90 and CO.
and the closing one e7K, to which the price
fell under realizations. The coal stocks wero
utilized In somewha. different manner,
with considerable forcing effect upon the
rest Of the market The argument used for their I'D
vance was u curious one and lay in the proposition
that it cheaper for the companies incur dam
nges by destruction Of property soppage of traffic and
flooding OF mines than to market Their coal at tho
Of 81 more the ton. The brisk business thus started
advanced the figures OF the different companies from
to l2H points, MS Will be seen by tho liable below,
though the highest prices maintained in final
dealings II is open secret that the bold and
cessful manipulation oil tho week due to Pacific
pluck almost entirely. Gould may may not have
had finger in the pie-the opinion is about eight to
that he had-but beyond extracting few West
Union plums his interest in the matter is problem
RtcaL IN the first days Of doubts and anxiety higher
made both for gold and for money call,
the premium the frst advancing 10 1861, and tho
latter oanng at por cent. On yesterday, however,
gold receded TO 1861. and money abundant at x
to per cent The advance In the trunk lines less
Important than that in the Anthracite and Western
Union speculatvos but nevertheless, ranged from 2
10 per cent The wonder is that, under such threat
ening circumstances there should have been any rise
at ALL 'What will he do with itP" is the
esting questionable impcrsona pronoun having ref
erence block Of 300 900 shares popularity
estimated and the personal pronoun standing for the
operator previously referred to. The latest feature
Saturday the exhibit OF fresh activity and
strength Pacific Mall which carried the price up to
o. and suggested the probability that this stock may
be used, in Its turn, as point dappui upon which to
base fu rther rise in the general market
TRANSACTIONS WEEK
The following table represents tho opening highest
and lowest saIes regular way, OF the PRINCIPAL stocks
during the past week, together with the number Of
sha res dealt in:--