The New York herald., 1878-12-02
FINANCIAL AND COMMERCIAL.
Review Of the Week-An Active and
Strong Stock Speculation.
THE GOLD AND MONEY MARKETS.
WALL STREET,
SUNDAY. Dec. /, 1878. 1


In the language Of the hunting field, speculation
\ lring the past week followed the cline Of
,uniry" that it did the week previous being mainly
ERECTED toward the coal stocks. the grangers and
axe Shore. AS to the value OF these several seeur
es, however, spectators were by no means of one
ind for while the anthracite fancics subjected
more kicks than halfpence tho railroads
caed to as much fulsome adulation as attaches to
}ceregal progress. The same choir Of operators
ontinues 10 chant the praises of these latter proper
lies and tile tune is set to the old metrenamey
he highly prosperous business which the roads
tong and the firm expectation of satisfactory
dividends to be paid. Particular attention
has been directed to the Northwesterns
which headed the list, not only regards
he magnitude Of dealings, but as to the advance
hieved- certainly il the statements OF earnings
DIRECTLY reported there was good reason for their
popularity. There is said to be drop of bitterness
however, in every cup and the sbears have not been
low in offering it to the lips Of enthusiastic holders
the shape OF an assertion that the freight traffic
which under ordinary circumstances would be spread
,ver several weeks has been compressed into about
ten days in order to affect the price of the stock and
make good showing for the dividend. The dark
background Of last years business at the time
forces the brilliant trade of this year into strong
lief and this circumstance has also aided tho rse.
Indeed the improvement i'll the St. Pauls is
mainly duo to this fact, although some thing
must be allowed to the sympathy with its
Wisconsin neighbor Next to the grangcrs in popular
estimation Lake Shore. though it continued
TO be as much Of Chinese puzzle Like the
gazelle with the soft gray eye, which to
become defunct at the moment when every body
wanted it to liye Lake Shore attans to the
fatal figures OF three and ten than it
toes up, to speak, and all its friends have 90 into
mourning. How many times it has touched 20 or 70
and bitock this week and fallen back again will be
by tho record of sales is enough to note that
q per cent marked the gain OF the period. During
the earlier part Of the week the coal stocks were
depressed and prices lower but Friday and Satur
day advantage taken Of the extensive short
interest which had been made to bid up quotations.
The outlook for the coal trade is black the out
put. The expression Of the Bethlehem meeting is
regarded as antagonstic to the combination, while
the decline Of 25 to As cents per ton made
1t tho Delaware and Lackawanna sale, the
subsequent reduction of schedule rates by the
Pennsylvania Company and the intention of other
companies to follow their example have all helped
depress the market value of the coal stocks. One of
tue chief events OF the week. and that Of scandalous
nature has been the attempt Of certain Spectators
who short OF stocks TO break the market by bid
ding up gold and tightening money. Their supreme
effort having been made in the Gold Room just before
three O'Clock on saturday. when the premium was
carried to 100L the markets closed before it's
full effect Enough of apprehension ex-
ieted however. to drive down prices from 4 TO per
cent and to leave the market weak and much shaken
TO confidence in the future.
The closing q quotations Yesterday were as follows =.