The New York herald., 1878-10-28
FINANCIAL And COMMERCIAL.
Review OF the Week-An Active and Strong
Speculation in Stocks.
THE GOLD AND MONEY MARKETS.
WALL STREET,
SUNDAY, Oct. 27. 1878.

The stock market which opened The week with
ns most dulcst OF tones finished up with = flourish
Of trumpsIs. Tho bIare all the pull side, and
tho stocks which made the music old and tried
favorites Consequently the crcscendo movement
a harmonious one and especially tunsful to the
lucky bulls tho had got long at low prices. What 1t
was to the bears may be guessed at, Dut then Brun
never had for music and Is, moreover, partic
ularly unapprecativo OF the melody made by ''the
lowing herd" The HaarBslden scandal having
proved 10 Do considerably less than nine days. won
der ard It's depressing effects being quickly recovered
from, opportunity was offered to treat the
general list 10 an upward twirL "Man
and money" being ready nothing was wanting
but satisfactory stock to begin with. Choice fell
upon Western Union, and It is 10 the manipulation OF
This security that the main interest OF tho week
attached. There much shrewdness IN pitching
apon tho telegraph property as an available loader in
fresh bull campaign, tor It was well known to have
beon largely sold short under the belief that the
Continental Company would prove formidable rival,
and that some Of the Wesern rates had already been
reduced the intiaory rise, which brought the price
from 88k 91 was productive OF considerable alarm
and scurry among the small bears, and the further
advance which grew out OF the scare did The business
kr tho big ones Large blocks of stock
povered AZ from 95 98, and the quotation
was subsequently wniriod up TO 100. which
being q gam Of II per cont Tor the week. There
was something more, however, than a mere short
interest upon which base the rise. The old stere-
ptypcd stories iurbished up and to look
rood new; this time .ior sure' the $1,000. 900
" Treasury stock was to he divided, or II this
not done, some SIS, 600, 900 OF stock be
created IN order TO mark the capital to tho round
and comfortable sum OF $50, 600, 900. Considering
that for three years past the company has
been able TO divide moro tnan six per per annum
the outstanding $685. 900. 900 1t sounds somewhat
"chseky" to propose additional issue Of stock
whose only virtues writ In water. Having wound
,p Western Union and set 1t going Lake
Inore next taken In hand and rise
II three points established tor the week.
Favorable reports OF the roads business
better still are expected when lake and canal Davga-
lion cease IL is assorted that than million OF
money Is in the treasury, which, being added 10 by
The earnings OF the six weeks, will anord sum-
nency Tor three per dividend upon the capital
Late the week the coal stocks and tho North est
moved up, the former from tho better pros
poets OF the coal trade and the latter from good
counts OF traffic ana Mr. Gould Final quotations
were 10 instances improvement upon opcn ming
ones, and in the OF Western Union and Lake
Shore were worry decidedly SO, although the best
agurss were not sustained at tho end.
The following table represents the opening, highest
lowest Sales regular way OF the principal stocks