The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-06-10
FINANCIAL and COMMERCIAL
Review OF the Week-Speculaton in
Stocks Active and Strong.
THE GOLD AND MONEY MARKETS.
Investment SeCurities-Thc Course Of Govern
ment, State and Railroad Bonds.
WALL STREET.
! uynAv lime O. 1873 I

Considering that many OF the chief pullers Of tho
speculative wires were absent from the market during
the last week It is remarkable how much automatic
activity was exhibited by tho trading marionnettos
that remained behind They not only succeeded In
sevating values whole, but In particular instances
Spurted up prices several per cent. Among those
latter Erie, Rock Island, Western Union. Bur-
lngton and Quincy, o., o., Q. and H. Lake Shore and
the coal stocks. For OF the oregongt sterco-
typed plea OF largely earnings urged
hitting reason for improved values though in the
OF Rock Island ana Western Union there was added
such further impetus as grew out of an expectation
that extra scrip stock dtvidends would
be declared. so far this idea seems 10
be connucd to expectation only. Nothing official
ls known OF the Rock Island scheme beyond tho bare
Tact that tia directors want to do something. The
un.ssued 40, 900 shares are like white elephant,
which they neither desire TO keep nor know now to
get rid or In this diomna Rumor, speaking for the
company suggested the issuing Of thirty per OF
scrip stock, which should be entitled to whatever OF
profits stopped after paying eight per cent upon
the full stock. Il was OF slop pay, with
tho chances favor OF tho former Thin as this story
WAS, however, 1t was thick enough to create lively
stir tho stock which carried the price rom lis TO
1191, though closing sales were maze at III There
appear to be any reason to believe that the
telegraph company intend to distribute their reserved
shares Tho story like The canards OF animated ma
lure, Is migratory in its character and
returns at stated periods TO vex the
shorts and Ill the lougs with false hopes.
A much sounder reason for the strength OF Western
Unon in tho TACT that by cutting down general
expenses and shutting up supernuous Offices OF the
Atlantic ana Pacific attachment the company Is able
10 show handsome increase upon last years Dusi-
Some clever rigging OF Eric, as between tho
home and London markets. brought this veteran
iavorte INTO livery prominence, which for several
days attracted the bulk Of business. OF course the
handspring ci tho three per TO be found
in the sanguine anticpations that the SO assessment
md tho new company would set the machine going
again af,cra more prosperous fashion. Tho election
II Northwestern directors, though awaited with con.
nderabe interest," tailed affect the price tho stock
uniavorably. Nor is 1t likely 10 do SO until
these gentlemen have distributed their hold
ngs winch Just now appears to be easy
matter Lake Shore largely dealt In
hoavy sales being met by persistent purchases,
which advanced the stock nearly two per cent
Whence came this continuous support is a puzzle,
which, to tho street. having no CumGcn Sybil TO guess
1t out Tor them, has become especial wonder"
Taking the market its entirety lind that while
nude general Roadway did 80 under circumstances
81 irregular and battling weather. Sometimes flashing
with activity, at other times as duli charity
sermon. the general finale however, brought things
10 q close at nearly the best prices Of the week. and
with an exhibition Of strength that promises con.
iinuance OF tho bull movement
TRANSACTIONS OF THE WEEK.
The following table represents the opening, highest
aud lowest sales regular way OF the principal stocks
during tie past week, together with tho number Of
shares dealt in:-