The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-15
FINANCIAL and COMMERCIAL.
THE GOLD AND MONEY MARKETS.
The Course Of Investment Securities Govern
msnt, State and Railroad Bonds.
WALL STREET, /


A review Of the past week embraces several items
Of nnauc.al importance. Tue chief among these was
shs contract made BY the Secretary Of tho Treasury
with tho old syndcsts 10 furnish the latter with
100000 Of four and halt per cent bonds, TO be
delivered between shs present date asd tho LIST OF
January ssxs Although sho Syndicate only pledge
themselves pay for $40 ooo. 900 AZ and
the option Of taking or refusing tho balance. there 10
bat little doubt that tho whole amount will
tepted a. stipsatsd Al tho Of SIS, 900 900 per
month. Next IN importance was the decline IN gold
10 1o0k ms the natural sequence Of the bond
ton, ano OF the almost certainty that resumption
share market proper the characteristic OF the week
exhibited IN tho continuous bull move
ment wAIch, with the exception OF n mitch
typ. proEressed slowly, ssey and per,inacioasy.
AShas been the case Tor some weeks past the North
western specially occupied the van of ,he movement,
wth the 81 Paul property following hard behind and
Michigan Central Lake shore and Ohio and Missis-
uppi somewhat IN The rear While the advance In
Northwestern shares has been In . measure due TO
The splendid business done by the road sreatly
stimulated ~ tho tug OF var which is sxerting the
strength Of Jay Gould upon tho aldo and the Am
ssrdsm and Chicago party upon the other Tor the
troll Of the election. SO TAR advance due 10
the latter cause the Improvements Is fictitious. ana
failing the existence Of short Interest 10 likely TO
be productive Of damaging results 20 credaicus hold.
when the losing psrsyss discovered 70 DO pos
ssssed Of too lew ballots but too much
Stock. The 81 Paul and Michigan Cen.
trail we're well up IN speculative estimation
from the favorable showing made Of earnings aud shsr
nuauciai condition. So onio aud Mississippi
property reports that plan OF reconstruction had
been devised which would be acceptable 70 all inter-
that tho prospects OF the road for clearing on
were highly natierng Tue coal carriers and Western
unIon remained steady. without gam or loss Of mo-
mcn, the attention OF spectators being directed TO
me lively railroads. From those latter, however.
excepted Lake shore, which suked and
sraggcd up the very last day Of the week. proving
an enigma trends and foeA On Saturday, however,
started into sc,ive exstouee, gaining something
over point In the days and closing with every
appearance Of reaching higher hgures. The close
probability OF the disappcarsncs OF the gold
premium ana tho release thereby from bank
vaults and repositories OF some $3.50. 900 Of gold
coin has lent new lace 10 the financial situation
with such addition TO the circulating medium .
general advance IN prices would seem inev,iabs-it
would DO imitation In . solid and healthy form aud
would carry with the inevitable results OF imitation.
The Stock Exchange quick to appreciate these Facts,
acted with great promptuess on Saturday BY insii-
tuting q buying movement which extended TO almost
every stock upon The list and the market closed with
every appearance that higher prices viii 10 attained
There 10 only wapiing q certainty taat gold will
main ~ par n reaches there and that qua non
. public 10 mako things pleasant tor the bulls Tor
some time to come.
TRANSACTIONS Wick.
The following table represents tho opening, highest
anu lowest sacs regular way, OF the prinepai stocks
during she past week. togs'hsr wita the number Of
shares dealt tn