The New York herald., 1878-01-14
FINANCIAL AND COMMERCIAL.
Review Of the Week-StOck Specula-
tion Dull, but Steady.
THE GOLD AND MONEY MARKETS.
Investment Securities S-GOVernment, State
and Railroad Bonds.
WALL STREET. |
SUNDAY. Jan. l3. 1878. I

Another week has slipped away, 10 DO gathered In
with The numborless other un!mportant ones which
have preceded IL. Yet n was not without financial
features OF some moment, for II was marked By the
occurrence OF failures and rumors OF commercial dis
tress which. in times past, would have been the
signal Tor disastrous decline IN market values.
Why it has not SO happened, and, more strangely
still, why prices have positively advanced In the face
o! these depressing circumstances, Is a puzzle to
many; unnecessarily so, we think, when the real
condition OF commercial and financial Affairs clearly
understood. ~ Is not TO be doubted that In these
matters the country at large has vastly since
The panic OF 1873 The progress from Insolvency 10
sovency hes been slow and wcarisome one, for
Il has been the rugged path of quida.
lion, forced economies, straitcned circumstances
aud the whole long list OF dsagreeablc obstacles
which stand in the way OF that familiar process
as drawing in ono's horns Tho signs OF the times
that 1t has been pretty ncarly accomplished, and Tho
Outcroppng Of occasional failure Is TO be regarded
the removal from tho channel OF trade Of ono more
rock, which, lying unseen, has rendered navigation
dangerous II appears to be the reverse OF logical
then, to wonder at the absence OF panic whom
seemingy disastrous occurrences bes, Of pro-
vcntives 10 pancs in the future. The FIRST days
Of the week marked by great strength and activ-
ny in railway and coal shares-n the arst, from the
fact that the drying weather in tho West rapidly
farmers were avalng themselves ot the opportunity
10 haul their produce to the nearest railways; Ia tho
second, because the efforts OF the coal
panies to fix up something in the way Of o combna.
ton, expected to bear fruit. Tho bust
the New York Central road and the favora-
able prospects predicted for the Lake Shore properly
acted as additional stimulus to values This amia
BILE temper, not, however, Of long continuance,
and considerably soured during the latter days
Of the week. thanks to the industrious exertions OF
rumor committee. II was given out with some
grains of truth) that the western roads their
old gamo OF cutting rates, that there trouble
among the sugar renncrs, that armistice between
Russia and Turkey a fixed fact and. in conse
puencc, which would make end TO
explorations OF produce; and, added 10 all
THIS, general proclamation Of death and dis
lster to banks brokers trade generally.
The effect rather to blight business the Stock
Exchange than to dwarf prices, these latter holding
Drm with tcnacity which elected the surprise already
Alluded TO- II TO pass therefore, that trade fell
into the hands OF those Phlstines, tho scalp
srs and there remained when the weeks business
rIosca In tho Gold Room there were but fractional
ppinons in regard the passage Of Silver
bilL Tho interesting feature was the quo .ation
l02< this bong the lowest point touched since the
Bpring OF 1852. sNt
TRANSACTIONS THE WEEK.
The following table represents the opening, highest
and sa!es regular way, OF the principal
during the past week, together with the number
OF shares dealt in -