The New York herald., 1878-11-18
FINANCIAL and COMMERCIAL.
Review Of the Week. Speculation in Stocks
Fairly Active and FsVsrish
THE GOLD AND MONEY MARKETS.
IMPORTS AND EXPORTS.
WALL STREET.

The week just past was busy one. not only in the
hare market proper but in the government and rail
,oad bond market well. Such well known specula-
tive hacks Western Union. Lake Shore and the
grangers put through their PAGES as usual and
made to respond with even more than ordinary
activity to the whip and spur of lively speculation.
AS has been the for nearly month past the tee
graph fancy showed up the most mcttlesome of the
lot as expressed by the amount of transactions and
degree of fluctuations Ranging. as the price did,
from 99a1 the highest, to 49, the lowest point OF
the week. there ample scope afforded for an in
nty Of those rapid and profitable "turns' which
SO dear to the heart of both buil and bear. That
they were eagerly availed Of is certified to
by the aggregate of the weeks transactions.
she total summing up something 235, 900 shares
Yet the whole business set to the music of the
same old tune-the probabilities good. bad or indif
ferent, of fresh issue Of stock. Paganni never
worked harder to elicit the Carnival of Venice from
single string than have stock spectators to pro-
duce profit out of this idea. 1t is moot
question whether they have succeeded not for the
enthusiasts who acquired stock at thereabouts
have had chance to sell without loss and little
show of having any in the immediate future. 1t is
understood however, that efforts are being made
toward the declaration of sort of scrip divi-
dend. though the chances Of such result being at
tanned considerably modified by the declared hos
tility of the Vanderbilt interest Next to Western
Union in popular appreciation is to be placed Lake
Shore, although its fluctuations for the week fee
BILE and not exceeding h per cent Favorable reports
Of the roads business and expectations of a per
cent dividend offset by stories more less true
Of extensive cutting of passenger rates on certain
Western lines and between these two influences
speculation in this favorie stock hung Ere only
.eebly responded to one the other. The grangers
were but moderately active, the ST. Pauls remaining
comparatively neglected at steady prices and the
Northwesterns buoyant and better under favorable
reports to earnings and the prospects of sats-
factory dividend Coal shares literally had their ups
and downs, the crescendo movement taking place in
the early part of the week and the diminuendo in the
latter part The keynote to the rise given by
New Jersey Central which made net gain Of 81 per
cent during the week in response to favorable state
ments of the working of the reconstruction scheme
and the judicous handling by the receiver
Of the road ITSELF The important mat
ter Of continuance non-continuance
of the coal combination for another year from Janu
ary appears to be in considerable of muddle. The
Lehigh Valley people are recalcitrant and
the other companies standing cap in hand, wait
ing to know what they going to do about it,"
Upon their decision hangs the life or death of the
combination. BY all odds the most important nnan-
In refusing to receive the silver dollar deposit
except under special contract. The matter is of
recent occurrence and is familiar to the reader
through newspaper reports that simple note Of the
tact is sufficient Dealings in United States securities
have been upon an enlarged scale. the increased
demand evidently sprnging out Of
ncwed confidence in the supremacy Of honest
money and the downfall of greenbackism.
At the close the share market was feverish and
with prices Of active stocks about midway between
The highest and lowest of the week. That the ten
dency upward and that higher values will ultimately
bc reached there is to doubt. is utterly
impossible, however, to foreshadow the changes
likely to happen from day to day. since they to be
ascribed almost solely to manipulation and prob
ably unknown twelve hours in advance, to even the
operators themselves.
The following table represents the opening highest
and lowest sales regular way, of the principal stocks
during the past week