The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-09
FINANCIAL and COMMERCIAL.
Review of the Week--An Active
Speculation in Stocks.
MINING INTELLIGENCE.
Condition of the Gold and
Money Markets.
WALL STREET..

SUNDAY Dec. 8, 1878.
If tho business of the past week failed to exceed in
any great degree that Of the preceding it not
from the lack of events Of especial financial impor
tance In fact, there rather embarrassment of
riches of this nature than otherwise predatory OPP
orators puzzled which event best worthy
of their attention and most promising of the heaviest
''swag" These events may be itemized as. first. the
meeting Of the Anthracite Board of Controls second.
the Northwestern dividends. and, third, the
ton of railroad managers. These three heads
naturally suggest the discourse Of the week. 1t
gaoeraly expected that the Board of Control would
definitely decide upon the fate of the coal combina
ton for the coming year, but the subject was too
black to be handled without gloves (which Mr. Packer
appears have in his especial keepng) and the meet
ing adjourned after increasing the output December
by 100000 tons. This may be taken virtual
abandonment of the scheme, which especially de-
signed for purposes Of contraction while the action
taken of the widest expansion, in view of the
fact that the market is gorgd with coal and that the
demand is Of the smallest description Although
nothing has been done officially it is well understood
that the Lehigh Valley people still adhere to their
stand and deliver policy in respect to an increased
quota, and that the other companies refuse to be
scared but keep their hands in their pockets There
is way out of this deadlock except by one side
the other giving way. which is not likely, or of the
combination splitting to pieces, which is likely
enough. The effect upon market values disas-
trous prices falling off from ga to 5s per cent and
closing at the worst quotations Of the week. The long
agony to the Northwestern dividends was got over
Thursday by the declaration of 31s per cent upon
the preferred and per cent upon the stocks.
There stories Of 'threatcnings and slaughters
breathed against the latter distribution but they
formidable shape than lalnb-like protest
the part of Mr. Hatch. more serious matter is to
be found in the accounting called for by the Dutch
bondholders, who claim that OF the 40 miles Of
Northwestern Union Railway ian appanage to the
Northwestern proper). which were mortgaged to
s3.500,oO0 Of bonds. only sixty three miles have
been constructed and they accordingly would like
to the additional security "put up or expla-
nation made. As frequently happens the effect Of
the dividend discounted in the previous RISE and
the question settled than prices began
to decline and the stock closed with
loss upon the week of about IL per
cent. The railroad managers held another
powwow and smoked the calumet Of peace over the
subject of pooling rates. Mr. Commissioner Fink
was deputed one-man power also to .smoke out"
any offending parties who may break the rules DUR
ing the next five years. As the duration OF similar
compacts has heretofore been comprised by about
Ave weeks IL is evident that the high contracting par
ties have either greater faith in each other than they
had before that with serious faces but with a
laugh in their sleeves they playing the old farce
over again. As general thing the market was ex-
ccedingly irregular exhibiting frequent fluctuations
and closing without any very serious departure ex.
cept the coal stocks to the side the other Of
opening figures.
The highest and lowest prices of stocks 1T the Board