The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-23
FINANCIAL AND COMMERCIAL.
Review of the Week---The Stock
Market Generally Strong.
THE GOLD AND MONEY MARKETS.
WALL STREET,
vx~-wxA. naa Dl 1870

SUNDAY, Dec. ~. 1915.
Tuesday last was red letter day both in the his
tory of the Gold Room and of the nation. For the
first time since 1862 the premium. which has
smirched the pumage Of our golden eagles for nearly
seventeen years. wiped away and gold sold at par
1t was happy omen for the of the great
of resumption which in ten days will be fixed fact.
and especially gratifying insurng freedom from
all financial strain in its accomplishment. review
OF the stock market for the past week brings before
us the record of an average amount of business an
irregular occurrence of dull and active periods mod
crate fluctuations and above all persistent and
innate strength in all the active stocks. This
the case particularly with the railroads-curiously
when it is taken in consideration that
the Strengthening of freight rates. which usually
yields plentfully Of raw heads and bloody bones.
ITO fright the souls Of fearful Spectators although
recommended with old time ferocity, has failed to
scare them to the extent of the hundredth part of
dollar Indeed prices rather throve than otherwise,
and in most instances quotations at the end an
improvement upon those made at the beginning of
the week. Probably the anticipation of satisfactory
dividends to be declared by Lake Shore Michigan
Central, helped to this hrmness, while the faith in
the future of the Northweserns expressed and prob
ably entertained by the large holders Of these proper
ties, OF greater assistance STILL On Friday both
Of the above roads declared divdcnds-Lake Shore
per cent out Of per cent earnings for the
current six months. and Michigan Central
per cent out Of 49, per cent earnings
for the same period canard set flying to the pur-
port that the Lake Shore direction proposed an issue
of 100000 equipment bonds seized upon by
the bears with the avidty Of gormand for canvas
back. but it soon abandoned as "fshy." and the
stock which had fallen per cent upon the rumor
quickly recovered the loss. We assured that no
such issue Of bonds even contemplated and that
nothing OF the kind likely to take place. Anthracite
shares alternately weak and strong. The sale of
100000 tons Of coal by the Delaware and Lackawanna
company. which showed decline from the previous
sale OF about 10 cents per ton. had momentarily de-
pressing effect upon the share list though prices
were almost Immediately advanced. There was
shrewd suspicion prevalent that the managing
men Of the trade not loath to these
lower prices presenting they did to the rccalci
trant interests awful example Of what would hap
pen in the combination should be allowed to
die out. Influenced by this view. and some Hide
fned rumors. that there would something yet be
done to resuscitate the monopoly prices were ad-
vanced moderately and sustained with considerable
frmness at the end of the week. New Jersey Central
about "A per cent. not from coal reasons. but
from reports that would be leased by the Baltimore
and Ohio company. to afford the latter road through
line to New York. Western Union remained strong,
selling ex-dividend of IL. and moderately active,
there being few buyers for six per that sells
in the "nineties." Money call alternately
cheap and dear, ranging from to per cent lrreg-
uary of this nature is to be looked for at the end
the year. when annual accounts being made up
and the payment Of dividends compels the disturb
ance of loans.
The opening prices Monday last were as fol-
lows delaware and Hudson, 81; Western Union
Nh; Pacific Mail. 1874; Erie, Is; Lake Shore, 69h;
Morris and Essex. 747s; Northwest 4616 do. pre-
ferred. TAX; St. Paul. 34h; do. preferred, 72al;
Delaware. Lackawanna and Western. -; Michigan
Central. boss; Union Pacific. 67h Rock Island,
b117a; Wabash, 21a; New Jersey Central. b2s; Kan
and Texas 8; c.. G. and l. c., 8; Chicago, Bur-
lington and Quincy. lO6s Hannibal and st. Joseph,
IA; do. preferred 35A. and the closing quotations
Yesterday we're