The New York herald., 1878-10-21
FINANCIAL and COMMERCIAL.
Rtview Of The We,k-An Active and Exciting
Speculation in Stocks
THE GOLD AND MONEY MARKETS.
WALL SrRKEr.
SUNDAY, Oct. 20, 1878.

SUNDAY, Oct. 20, 1873
Tho week which ended yesterday was full Of In
sident as is Christmas pudding Of plums, but by no
means SO paatable, particularly TO those who
long OF stocks. Indeed, these unfortunates
Iorced cat the leek ever SO bountiiuy supplied by
falling market, instead Of the succulent tidbits
provided by rising With the exception Of North
western common and two three OF the obscure and
neglected outsiders the list declined tho week
through There was every reason that IL should have
done so, for existing influences were all OF Dearish
tendency. Monday morning opened with condition
OF things that forebodo disaster Somebody Ia Stock
Exchange Committee Is trying 10 nnd out who)
boldly bid up gold to 1olX, and as boldly solo the
stocE market down. 1t is still a question whether
conspiracy existed among parties notoriously
interruptions In their financial transactions TO create
apanio, whether it merely desperate attempt
TO retrieve their fortunes by an tnsoIvcnt firm. In
ethor case the plot miscarried, yot not without
serious damage TO n crowd Of small brokers who had
bcen made uso OF by the promoters OF the swindle
Mr.. Secretary Sherman, unexpectedly appearing upon
The at this uncture at once proceeded TO put
spoke in the consprators' wheel by directing the I'M
mediate payment OF the .calied'' fve'twenty bonds
Tho premium on gold went down and Messrs. Haar Il
Co. went up. Tho stock market went up also. par
TALLY from the action OF the Secretary, which was
Sumod 10 have defeated the plans OF tho gold gam
blers and partially the covering of Haar & Co.'s
short contracts. Tho improvement was evanescent,
bowover. and in a day or Two everything became as
aat the heel taps In q powter pot OF small beer.
The stock market had received shook which not
10 be recovered from nstanter-lhere suspicious
Of foul play somewhere and approhensons of dangers
new ana underlined On Thursday rumors prejudicial
TO the solvcncy OF the firm OF Bedcn & Co. (who were
mixed up In the Haar malter) were as thick in the
stroot leaves In vallombrosa, and, although they
positively asserted to be false by the house In
question, they nevertheless added to tho prevailing
dstrust and depression. As though these homemade
sorrows were not enough, supplementary battalion
cabied from abroad. Financial matters were re-
ported to be alarming state throughout the
length and breadth OF Britain. Commercial failures
growing OF the Glasgow Bank hasco were frequent
and important. panic was reported IN Man.
chester, and it rumored falsely, 1t appears,l
that the Bank OF England in It's distress bor-
rover Of some f60o0. 900 from the Bank OF France.
With curious blindness to ITS real meaning the stock
market on Friday absolutely grew strong and ad-
vancea the announcement of this report Never.
thcess whether this particular statement be true
false the general OF tho foreign shade
better this with tho fact that the had
forty eight hours pretty much forgotten about tho
Haar-Belden matter) in measure changed the COM
plexion OF the market substituted hopeful feel
ing for one of dependency. On Saturday this I'M
preston became still more pronounced, with tho ef.
feet of making better prices for the market generally
and OF Western Union and Northwestern common IN
particular So the market closed rather builish than
bcarsh but with much uncertitude to which POSI-
tion was the correct one.
The following table represents the opening, highest
ana saes regular way OF the principal stocks