The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-08-05
FINANCIAL and COMMERCIAL.
Review of the Week-Feverish Ac-
tivity Of the Stock Market.
FACTS AND FIGURES.
Fluctuations of Government and
q Other Securities
WALL STREET,

SUNDAY. August 4, 1878.
For dead season specuiasion upon the Stock Ex-
change has proved itself during the past week TO be
very lively corpse indeed Daily transactions, which
At this time OF tho year usually range among tho
"6rtiss," have rcachsd into the two hundred thou
sands and activity and excitement accompanying
them have been proportionately great This anomaly
has been due the persistent and extensive liQu1a.
ton Of the ST. Paul and Northwestern speculation
Commencing some weeks back the shares Of these
companies have been passed from hand 10 hand
like practice bail at cricket, losing strength
at each transfer and scoring smaller figures
day after day until something twonty points
has boon lost on the common stocks since game
began. Tho public has had another and bitter taste
OF the excitement OF stock gambling, which will
answer in lieu OF Boksr's for some time como.
Whatever existed outside interest In stock specua-
lion was almost wholly centred In the granger
shares It being firm boiler that the enormous earn
ings OF the roads created by the crop OF 1877 would
be supplemented by still greater ones from that
OF 1878, and that tho speculation was thereby rem
dered eminenty safe and profitable But '.l'homme
PROPOSE ct Dieu dispose" she provsrb has IT, and
Its truth has been exsmpned In the present instance
when the "bsst laid plans" o. have been brought
10 naught by unpropitious elements At least the
rain. hoat damp and general contrariness of the
weather have been made 10 the respon sblity
Cuaug aspect OF LuOuGn Tue rear truth
lies in the tact that prices mad been pushed an un-
warrantablc altitude and broke down from sheer alb
pence Of market to sell TO. There remark
able phases characterizng the dccne-arst
stubborn Armness Of the rest OF the list anu second
The absence oil failures upon the part operators
Board members Until the last week prices upon tho
general list scarcely affected by tho hurry burIy
going on in the Wisconsins, and until few
days since that any appre cable decline produced
The immunity from disaster TO spectators is un-
doubtsdy reierribls to the nimble sixpsnny quick.
ness with which small traders skip out OF harms
way, and to the probable fact that the largo losses
have fallen upon sssouiosrs able TO bear them. On
Friday poOutar attention was directed 10 a remarka-
BILE cscapads upon the part Of Western Uuion which
Buddeniy broke six per cont and almost suddenly
regaped the entire loss. Tho decline clearly
duo 10 malice pyepense supposaby for the purpose Of
facilitating purchases Of the granger shares) that Its
Effect upon the general market was only trans,tory,
ana before close the general list marked up
10 the highest figures Of tho day. Business satur
day apsed into comparative duIness. lower prices
being the rule with Lake Shore Western Union and
Delaware and Lackawahna exceptionally weak.
sunnARr OF THE wExK's BusIxxss.
The following carefully complied taUle shows tho
fluctuations Of stocks during tae week and the num-
Der Of shares OF each sold The total OF
tho week were 1858, s11 shares. The figures In tho
last column represent either sales or bids asking
nrces -