The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-01
FINANCIAL and COMMERCIAL.
Review Of the Week-A Fairly Active
and Excited Speculation in Stocks.
THE GOLD AND MONEY MARKETS.
Investment Securties-Govemment, State
and Railroad Bonds.
WALL STREET,
= Hnsx TnnA IN 1870

During the past week Lake shore stood In respect
TO the rest Of the market tho docs the solar
system, regulating its movements ana existing the
main source OF speculative light and heat In this
character OF bright and central orb. It naturally
attracted the chief attention Of Spectators OF all
grades and the result was 10 roll up amount OF
dealings which greatly surpassed those OF any other
stock upon the list The long discussed topic Of
dividend discourssd upon moro psrsistsnty than
aver all Of opinions being held its amount
which was variously estimated a. from two per
TO nothing. Meanwhile the prices ruled steady
In the neighboEhood OF SO, point which
It did not abandon completely until Friday. when
announcement Of per cent dividend for the past
SIX months put emu 10 surmsc ~ we'll MS to tho
hopes VI stockholders, who, like Oliver Twist, had
been asking and hoping for ''morc.' Tho company's
statements show that the net earnings after dcducng
interest aud running expenses nearly Two per
cent OF which one-half rad to account Of the
sinking fund, the purchase OF $4,000 worth Of real
estate in Chicago the acquisition OF $4,000 Of
Lake Erie and Phtsburg Railroad stock. As these
latter purchases are stated 10 be OF great value
TO the company and become addition to
its Haed properly It is urged that the out
lay for the Same should have been provided
for BY Of bonds rather than by depriving stock
holders OF the extra dividend which these payments
have rendered necessary. However the long agony
Attenue0
all complaint will probably die away in sullen
growL For Inc future tho speculation In Lake Shore
will probably turn upon is actual worth and upon
many references made TO the old 'rule OF three,'
which has Of its factors price at 81 and
twevemonth dividend OF per cent earned under cir
substances OF unexamped tonnage. The ceal carriers
were In the nam strong and higher. Some loars
Cd lest the meeting OF the Board OF Con-
ro might get At loggorheads aud the integrity OF the
combination be threassned. Quite the contrary
WAS the case, however, the meeting being hold
peace and harmony, and several OF the companies ul
timstely contributing thereto, by advance OF five
10 ten cents per ton upon their schedule prices.
For day or Two Rock Island pilfered from Lake
shore portion OF It's claims 10 public attention 1t
another of q moot dividend finally settled by
declaration Of az per cent for the quarter Of which
The traction ostsnsbiy from the company's
surplus Investment but really from the profits OF
Rock Island ITSELF For year TO come, then, share
holders safely Expect TO be paid at the rate OF
10 per cent per annum, though they will be wise II
they occasionally recall TO mind The poets liuss:
OFT expectation fails, and most oft thsre
Where most It promises
Little was done In tho graugers and In Western
Union and that tse 70 ngarss which inclined Ian.
gu,sh. In Pacific Mail Ohios Mississippi and Wa
bash this ioclinauon assumed during the early part
OF the week decided form and prices declined nosa
bly,. Later on II was given out that the Pacific Mail
and Panama troubles had been amicably settled and that
the application for Wabash receiver had been denied
Upon this both Of these portion OF
their loss, though Ohios left In the lurch and
with apparently no friends to lend helping hand.
Saturday passed without and without business
the market being abandoned by all operators who
mad the will and tho way to seek out ten Der.
ATE cline.
TRANSACTIONS WEEK.
Tbs following .sUle represents tho opening highest
and lowest Sales regular way, OF the principal stocks
during the past week, together with the number OF
shares dealt in:-