The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-27
FINANCIAL AND COMMERCIAL.
Review Of the Week-The Stock
Market Active and Strong.
THE GOLD AND MONEY MARKETS.
Investment Securities State
and Railroad Bonds.
WALL SrREEr,

cUNDAf, may 20 1910
Fhs past wssk was characterized BY two strongly
marked phasss-one Of intense duness, tho other OF
great activity rhe former had to do with the nrst
three. the latter with the days OF tho week.
and between the two fair average OF business was
secured The feature OF the matter was the sudden
transition from clouds 10 sunshine IT was az though
tho duh days had gathering themselves for leap
from their position OF apathy into Of excitement
had taken II and But it the latter half OF
tho week that eugrossed all topics OF interest. Thurs
day opsned IS brilliantly Wednesday had closed
obscurely What prompted this sudden change OF tenn
per was not apparent but 1t was patent that fresh
movement in the Wisconsin railroads was
being made the vehicle 10 exhibit II.
In fact. the movement acted like ad-
vcrtsing the of tho market, giving notice
pf upward turn ana inviting cooperation. This
received less cordially from the entire list,
NTH the result OF winding up tho week at better
range OF prices and with strong setting Of the tide
toward still higher sudden awakening to the
value intrinsic and speculative OF the North western
and ST. Paul properties brought In swarm of
and enthusiastic buyers no uncomfortable number OF
which may with propriey, be regarded as investors,
nnce the.r money has been PAID In and their stock
taken from the street Tho great bulk Of transactions
however, s usually the case, may be traced to pro-
iessonal operators who quick to scent favorable
s'turn" and quick to scampcr when
danger threatens Nevertheless there is
good deal to DO said in behalf of the
roads In question, though II may be embodied in
simple reference to their extraordinary present earn
ings and the aatterng prospects for future ones.
which, while they insure dividends now, are highly
promising Of a regular succession in times to come
While the general estimation Of these securities runs
In this groove despite the artificial position OF the
Northwestern shares) II is not TO be forgotten that
both stocks have been the subject Of an enormous
rise, as will be seen In the following comparative
table, which gives tho highest and lowest quotations
.or May. 1877 and the average prices OF yesterday:
May, 1877. May 25, 1873
Northwestern common $500. l9h-24h o.
Northwestern preferred. -. 43A-5ozs 75h
St Paul preferred. ........ 46x-5l5S 7sA
Among the stocks which caught The fever from the
grangers be found Rock Island, Pittsburg Iii
nos Central and Western Union the railroads being
stfcned by favorable reports OF business, and West
Union growing active by reason OF the good
results growing out Of curtailment Of expenses II
probable, however, that the better feeling existing
is not due to increase OF railway earnings alone
Money cheap and plentiful and the bank statement
evidences Tho strong return current Of greenbacks
which seeks this centre Tor employment. Railroad
bonds sought after with avd.ty at constantly in
creasing Values and there is Quot absorption OF
better class OF dividend paying stocks The signs
that confidence il growing less tmd aud that capital
Is venturing seek other employment than hand
to mouth one Of cal! loans Unless Congress should
again essay tinker at questions Of finance alarm
the nation by questionable OF policy
seems 10 DO fair chance OF smergence from the
of depression which has long upon the coun-
Try.
TRANSACTIONS wxBK.
The following table represents tho opening, highest
and lowest sales regular way. OF tho principal
during tho past week. together with tho number oil
sharea dealt in:--