The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-07
FINANCIAL and COMMERCIAL.
Review Of the Week-Strong Tone in
the Stock Market.
THE GOLD AND MONEY MARKETS.
Investment Securities State
and Railroad Bonds.
WALL STREET. I

sunday jan o. 1857
Mr.. Mark Tapley's peculiar idiosyncrasy OF being
jolly under unusually depressing circumstances was
fully reelected In tho stock market during tho last
wcok. when prices held firmly the face OF
difficulties which would ordinarily have brought mat
tiers 10 unmItgated grier. These difficulties WERE
FIRST, tho Bonner escapade; second, tho pinch In
money as partial consequence thereof, and, third,
the 6zzlc $50 iar) OF tho proposed coal combination.
In the good old times when speculation was lively
ball In a cricket field any OF the above would
have been sufficient depress values II not to pro-
cIpitate a semi-panic Now, however. that spocuia-
tor has grown lukewarm and steady, all signs seem
10 fail, they do in drought, and
tho market stands up against hard knocks
with tho pluck of pugilist in a twouty.
foot ring So far tho railroad Stocks which tho
Of the market, concerned, this has
history OF the past week, glance at tho list OF
parative prices will show. Some little weakness
developed upon the closing out, under the rule Of
considerable line Of Bonner Co.'s hypothccatod Sc
curites, but had little permanent effect upon the
share list as though tho avuncular Simpson had
cleared his spout OF lot OF unredeemed pledges The
1rm grip held upon Lake Shore the rcst Of
the market slipping through the fingers Of general
holders and probably stopped a disastrous decline.
In ac the strength OF the market by tho
strength OF Lake Shore, far It has certainly
shown remarkable amount OF financial muscle.
How long it will DO abba to keep It, whether IL Is in
vulnerable to tho onsaughts OF the bear party, or
like Achilles, has weak spot that is open
to attack, are questions that tho future alone
can answer With less animation than charac-
terizod the Vanderbilt favorite, the Western roads
proper held their with a talr degree stability
The boueversement of the BonnorN Meter contingent
and the slippery condition OF many financial insti-
tutons, though bad enough in their way, are power.
less to prevent the existence of great crop
ignore the patent fact that tho railroads profit
thereby. Unfortunately for The coal companies too
much crop and little market Is playing "old hob
Whatever that mournful pastme may bel with their
credit bank balances and their future prospects
A meeting OF representative coal managers was held
on Wednesday devise schome of combination
by which these evils might be ntgated, but through
the recalctration Of the Lohigh Valley Company
nothing was effected. further effort at agreement
will probably be made In q few days. and well in
formed persons believe that sort OF compromise
must be hit upon u simple matter of self-pres
ervation The shifting OF loans and the impaired
confidence in borrower and lender. which the
natural oucrop OF the Bonner swipdle, had the effect
OF pnching the rates for money on call. Few loans
mado under per CONT while the bulk OF tho
business done at per cent and very consider.
nble amouat AZ 1872 to u per cent and interest Al
the close the week the price foil or TO per cent
partly from tho appearance in the market Of tho Jan.
nary disbursements account OF interest dvi-
dends and partly from desire 10 obtain returns upon
. TWO days. loan.
TRANSACTIONS OF THE WEEK.
The following tabc represents the opening, highest
and lowest sales, regular way OF the principal stocks
during the past week. together with the number
OF shares dealt in:-