The New York herald., 1878-07-08
FINANCIAL and COMMERCIAL.
Review of the Week-An Active and
Stronr Speculation in Stocks.
THE GOLD AND MONEY MARKETS.
Investment SoeurtieS-The Course Of Govern
ment. State and Railroad Bonds
WALL STREET,

SUNDAY. July 7, 1851
Considering that the weeks business on 'Change was
confined to hvs working days. besides being heavily
handicapped by the heat tn absence OF promiu
sperators the aggregate oil transactions unusually
large for the season OF the year. This unwonted
hvity owed Its existence to the bull move.
mont mad been secretly determined upon early in the
week, was commenced with vgor and carried on with
determination TO the end The hour propTous.
for the Lake Shore DISAPPOINTMENT had induced large
short interest and the bears deludsd themselves
into the belief that prices would be allowed - rot
away under midsummer duress, while the men (for
there three OF them stood ready to improve the
occasion by sharp application OF the screws. Lake
Shore, which for time back mas been the
field TOR speculative tits between bull and bear
again made the sboody ground" Of the present con-
tes and to-day shows bru,n beaten and taurus master
OF the situation 1t does not appear that Messrs.
Gould, Keene aud sage, singy or collectively, have
any stropg pechdnt for Lake Shore desire absorb
its belief In Its intrinsic value, but they
have keen scent for stock tnat has been largely
oversod pe ssessIng valuable hitting powers
when its influence is brought to bear upon the
the market So it attached to the list. loco
motive is to a train, not because 1t particularly
valuable 10 ITSELF but because the rest OF the convoy
could not be moved without II. The correctness OF
the man@uvrc is visible in the result. The advance
In Lake shore has dragged along with II the
more sluggish stocks, and higher prices
have been made for the whole list
There havo Teen some grou nds, boxever, for i'm
provement in the grangers apart IRON what Is due
sympathy with Lake Shore. Receipts OF wheat and
corn these roads, which had at time fallen
Oh greatly, are again increasing In amount, and
II is stated that there is yet enough TO come to
secure remuperative business for the rest OF the
summer. Again, the crop standing and stacked IS
assured In all its enormous proportions, and, unless
something unforeseen happens, must contribute vastly
to the earnings OF the Wisconsin roads for twelve.
month come. Next 10 the railroads referred to
the coal stocks have been In the ascendant The re-
construction scheme OF the New Jersey Central
road seems to fnd faith with buyers, both in the
London and home markets. probably under the cal
culaton that the bonds Issued In exchange for the
the Deawares have gained In market price upon the
weeks work. To be sure the wholesale trade is at
stands and retail orders Tor domestic consumption
arc sensiblv diminished by reason OF last winters
moderate weather leaving supplies hand, yet the
companies are marking up rates ana attempting Il
force prices The lace OF this paucity Of demand.
The scnsble thns the companies have done is 10
shut down upon the production for two In July
though II is probable that the 25, 600 thu,
thrown OF employ ment will regard It, Tho low
priced fapcies were dull and neglected, no change
having such insecurities as Pacific Mall
Ohio aud Mississippi and Wabash to invite attention
from either bull bear. AS the week drew to an
end bull feeling rather increased than
the very highest prcos being made many OF the
active stocks the close of Saturdays session.
TRANSACTIONS THE wEEK