The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-02-17
FINANCIAL AND COMMERCIAL.
Review Of the Week-An Active
Speculation in Stocks
The Money and Exchange
Markets.
IMPORTS AND EXPORTS.
WALL STREET,

L
SUNDAY. Feb. 10, 1879.
While in the aggregate of transactions last week
ran q neck and neck with the preceding one the
lsttcr oustrpped the former in the material improve
ment of values After the lull which followed upon
what may DO styled the first heat in the advance
movement the market to have obtained its
second wind and is again "off" at moro judcious
pace but with more bottom and, therefore, less liza
BILE to be pumped" than before. The week just
passed. though FREQ from any startling events, pre-
sented speculation that carried prices steadily up
ward and landed thom at the close in most instances
at the highest figures Lake Shore, the coal stocks
and the grangers continued to be the recipients Of
attention. the advance being from to ~ per cent
There being but little inclination upon the part of
the shorts to ''sit upon" the market and thereby
adde the eggs of improvement, the process of incu
bation was successfully carried by the longs with
the result Of fair brood Of profits. Only in the case
Of Lake Shore did the destructives maAifest any
serious antagonism. and this invited by the sale
of several large blocks Of stock which. by tie vote
of the street. was equally attributed to Mr. Wander
bt and Mr.. Gould. 1t afterward declared that
Mr. Vanderbilt distinctly repudated any share in the
transaction. but yet Mr.. Gould has made sign.
The greatest gains Of the week obtained in Ohio
and Mississippi preferred and in New Jersey Central
In regard to the first named it would appear that tho
long existing wrangle between the stockhold-
Of the company and the holders of the
bonds Of the Springfield division is likely to be salts
factorily settled. The exact terms have not been
promulgated, but they point to.a cancellation OF
moiety, or thereabouts, Of the mortgage indebted
ness referred to- regard to the second named the
elements of its popularity lie in the fact that it is
strongly supported by prominent operator. and
that its lease Of the New Jersey Southern line and
the contracts for transportation made with Balti-
more and Ohio and Reading are promising OF
largely increased business. Although Western Union
netted gain of two points the highest figures
not maintained. The dangerous position Of
monopoly which it is accused Of having attained has
brought under the hammer of the patriotic tinkers
Of Congress- who essay to mend matters by permit
ting railroads, which have wires Of their own, to
compete for public employment. bill to this
effect is before committee of the Senate and 1t is
believed will be reported upon favoraby Prices Of
other stocks were irregular and without change of
moment, though such occurred were directed to
higher standard Tho market on Saturday was the
strongest Of the week. and values were in mapy cases
the highest made since the break down of two weeks
ago. Burlington Cedar Rapids and Northern Rail-
road shown much strength within the last day
two. An advance Of about per cent made
yesterday and friends of the road with the help of
combination which has becn formed. expect to see it
ct much higher prices. the intrinsic merits of
the property said to fully warrant considerable
Improvement.
The opening prices of stocks on Monday last were
rs follows :-Delaware and Hudson, AN; Western
Union. 1O0L Pacific Mail, b12I; Erie 25X; New
York Central and Hudson, III: Lake Shore, 71T;
Morris and Essex, bs41; Northwestern 62; do. pre-
ferred, s7A; ST. Paul, Ak; do. preferred, SAX; Del
aware, Lackawanna and Western. 52H Michigan
Central, ss1s; Rock Island. 1870; Wabash. 22x; New
Jersey Central 49,; Illinois Central, IS; Canada
Southern, 551; Union Pacific 81; Hannibal and st.
Joseph. 1914; do. preferred. 42h; Ohio and Missis
sippi, 1919; do. preferred, a.