The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-17
FINANCIAL and COMMERCIAL.
An Epitone Of the Weeks
Transactions.
NEARLY THREE MILLION SHARES SOLD.
WALL STREET,

As the season rolls on the financial pyrotechnical
display on Change increases in brilliancy, During
the whole Of the past week there was q continuous
flight Of rockets in the shape OF prices. which
mounted higher and higher. and never a mother 8
son of the horde Of spectators thought Of or
cared for, the danger suggested by the hackneyed
smile of the falling stick. The weeks transac-
tions exceeded 100000 shares. an amount un-
paraleled In the previous history of the Stock Elk
change. The advance in values was in keeping.
being marked. like the degrees on thermometer. by
figures ranging between zero and rs per cent. Ex-
cept in the case of a new conner upon
the Board list-when the whole market went daft
and rushed after it like mob following
q travelling circus-as a general rule the
better the stock the less the rise.
For instance in such standard properties as New
York and New Haven, the New Jersey United Rail-
roads, Burlington and Quincy, Panama, New York
Central Chicago and Alton, Fort Wayne. Pittsbnrg
the granger preferred shares and score or SO more
of kindred dividend payers the rise was limited TO
about per cent less while in such terra 'ncc9nas
rs Oregon Navigation, ST. Paul and Sioux CITY, Nash
Vile and Chattanooga, Lafayette, Bloomington ana
Muncie, Missouri Pacific, Chesapeake and Ohio, ana
the San Franciscos. the advance ranged anywhere
between 10 and IS points. That the merits OF these
properties should have been suddenly discovered
under bushel is one of those mysterious develop
ments which the present craze has brought forth.
How long the light will "hold out to burn with
out being blown out by the side wind Of
some disastrous reaction is question which is just
now exercising the minds of conservative specula-
Tors. Should a stampede from any cause occur with
everybody wanting to sell and nobody wanting to
buy the whole range Of fancies would relapse into
total darkness precpitately they have emerged
from it, 1t is to be confessed, however, that there
more elements of support to the present specu-
lation. wild it appears, than has been the case
under similar circumstances heretofore Money. in
the future is likely to be sufficiently easy The ad-
ministration, in the face Of Presidential campaign
cannot afford to have it otherwise ii they desire to
make things pleasant for their constituents. Cur
rency will shortly be returning from the West and
gold is arriving being shipped in large amounts
from abroad. nearly S4.oOOOOO being received last
week. while s2.sOO.OOO the way from Havre.
The greatest safeguard against panic. however rests
in the fact that with the whole nation specializing
in Wall street. stocks widely distributed, being
either bought out and out covered by liberal mar
gins In word, the stock market is out OF the hands
of local Spectators who longer possess the
TO mould it to suit their plans. 1t would appear.
therefore. that long the vast body of specula
tors remain scattered through towns and cities and
rural hamlets 1t were in the condition Of many
detached arms and limbs. and consequently not
likely to take flight masse. the danger of panic is
greatly lessened If this fact, however. should fail
to have the force it appears to have and q panic
should set in notwithstanding. wel-after that the
deuge.
Total sales for the week we're 1900. 900 shares
against 1868 1888 shares last week. Following is
synopsis of the transactions with the closing prices
pf yesterday and those of last Saturday,