The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-28
FINANCIAL AND COMMERCIAL.
Review Of the Week-StOck Specula-
ton Dull-Prices Steady.
THE GOLD AND MONEY MARKETS.
Investment Securities -GOVernment, State
and Railroad Bonds.
WALL STREET, /
rvpAy Ian OF 1878

As Louis XIV, with q right royal egotism, pro-
nounced himself to be "the State" SO might Lake
Shore with greater regard truth, declare itself to
DO 1.-THE market" Such II undoubtedly during
the past six days. the entire speculative interest Gus.
tering about Its fortunes giving the BY to all the
other stocks upon the list The upward turn in Lake
Shore proved 70 DO only a retail transaction of
pimbe sxuenco order in point Of profits the trades
engaged shut up shop suddenly as they had
opened it, and set 10 work counting their gains at the
very moment that outside customers wero beginning
to knock at thor doors Tor admission. 1t is by no
certain, however, that the pool operators
altogether free agents in the matter There
were reasons that made tho success of rise
q matter OF doubt Earnings were unprccedentediy
large, IL is true; breadstus flowing INTO the lake
ports IN unexampled quantities, and profitable bust
ness seemed to DO assured Tor weeks and months
ahead. But all those pleasant features has come
a shade, simply because grim visaged war has
smoothed his wrinkled front and seoms inclined TO
beat his sword into ploughsharo to the detrment of
future agricultural interests and to the present
price of our crops. Tho evils OF peace-peace, which
pray tor but which We can get along comfortably
without just at present-have already made them
selves iel. in u decline cereals and upsetting OF
projects looking TO the feeding OF amishng thousands
abroad Moro directly they dsconcert all predictions
10 the future earnings OF grain carrying roads, since
low prices mean inability to ship, and inability to snip
means transfer OF the surplus crop into the topical
whskey STILL instead of into the railroad elevator
While Tears 0f peace have tended TO uDscttle the
opinion Of railroad stocks, the doubt to their
values has been further increased by the action Of the
railroads themselves In this 1t is y lear OF
OF railroad war-where rates DO cut instead of
throats, and pockets OF stockholders made TO bloed
instead OF the bodies Cossack Moslem. In spite
denias is open secret that this rate-cuitng
has boon INDUCED in by various roads to consider.
able extent, and that all attempts TO stop it have
got proved futile. With the failure Of the railroad
combination before their eyes awful example,
their own hook and have succeeded, far as
paper compact goes, with certain pains and
penalties 10 be suffered If the 'cutng" disease should
become catching. Beyond keeping the share prices
firm and steady, nothing has yet grown out Of the
compact but Indifference to speculate and reso.
luton upon the part OF operators wait for fresh
developments The decline In gold to 1912
OF the most satisfactory events OF tho week. and
douuly 90 that 1t has occurred under the shadow OF
the Silver bill. This upas tree out OF the way
Is apparent that resumption will of own ac-
cord, with no thanks to financial tinkering in or
out OF Congress-
TRANSACTIONS OF TIE WEEK.
The following table represents the opening highest
and lowest Sales regular way OF the principal stocks
during the past week, together with the number OF
shares dcalt in:--