The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-15
FINANCIAL and COMMERCIAL
:
Review of the Week-An Active q
Feverish Speculation in Sucks.
THE GOLD AND MONEY MARKETS
Investment Securities Course Of Govern.
mcnt, State and Railroad Bonds
WALL S4r4
SUNDAY. July ~

Taking 10 consideration tho drawbacks
heat and tho prevalence OF what Is known id~St6ct
circles tho dead season. the week just passed has
exhibited IN uulookedfor vitality. Although no
financial events of minor Importance occurred
the volume OF business the Stock Exchange was
beyond average Tor the time Of tho year. and the
change OF values rapid and decided enough 10 keep
both bulls and bears on the anxious seat The ad.
vance, engineered by tho triumvirate OF leading bulls
was carried on with much dcxteritv until the
Close whcp il becoming assured that the great bears
had driven to sock safety In flight and that =
market had been found largo lines OF long stock,
tho pressure was Withdrawn and the market
left TO its own deviccs Without shoulder TO the
wheel ana a pretty strong one at that, tho market
during the summer solstcs Is antagonistic TO an I'D
vance movement, and 1t resulted whom the bull
efforts ceased prices nrst hesatod then wavered,
and subsequently ieiL Az natural, tho greatest
decline took place in the stocks which had been tho
particular pets Of tho bull clique but even then the
fall was sufficiently great TO wipe out the gains
which had been during the early days Of the
week. tho result upon the side OF improve
msnt, though, judging from the frayed edges which
tho market EXHIBITS, It is not likely TO wear we'll IN
the week 1t is hardly necessary to say that
Lake Shore still continued to hold its long existing
prominence. 1t the tulcrum upon which the
whole OF the list moved, and the Archimcdcan
manipulators madc good OF II when they hoisted
tho bsw window people and other considerable shorts
at tho end their irresistible lever. Killing OF these
important shorts, however, was killing tho goose
which lay golden egg for, with their custom gone
there rem aimed outside support 10 tho stock and
no reason TOR inside support either, and conse.
aueptly the price broKe down AZ narrated. Among
the second class specuaons Now Jersey Central bore
away the palm Tor extent OF fluctuations, the price
boipg forced 3s TO Asa, allowed to recede to 3oX
and ultimately closing Al 40,s For stock that sold
few months ago In the neghborhood Of this 10 doing
pretty WELL when It Is patent that It's valuo has not
Increased one jot tttle since that time.
Tho rise has boon due q system Of most audacious
CORY ma uderiug In which the London and home mar
tets were played OFT against zach other with apparent
success We use the expression "with apparent sue.
cessn adyiscdly, the attempt made ON Friday to mar
kst tho stock being fiat failure, as quotatoas will
show. The two Dslawares advanced during the early
part oil the but fell on at the end, 10 sympathy
with the rest OF the Market free sales At.
trbuted TO close friends OF the corporations The same
remarks will at the granger stocks as well, though
an in st. Paul rather staggered
holders who have never deemed that aught bat milk
and honey could flow Of their possessions. The
lowest prices since the decline set In were made OF
Saturday morning, but nrmer feeling, accompanied
by partial rally, conspicuous at the end Of the
day.