The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-22
FINANCIAL and COMMERCIAL.
A Summary Of the Weeks
Events on Change.
THE PRESENT SITUATION.
WALL STREET.


So far as the attendance OF the public went the
Stock Exchange performers played last week to
empty benches. In fact. speculation lust now has
ceased to 'draw" To be sure. there WAS daily re-
hearsal under the preeace of doing business. but
was left to the stars OF minor magnitude and two
dollar supers." Consequently there is but little OF
interest to record. In comparison Win the previous
week transactions fell of considerably and 1t was
not until the last day or two that any marked
changes were made in quotations. 1t Is true there
were frequent fractional differences in prices. which
made the market from time to time look duh or
weak but there signs in 1t OF any immed-
ate "boom" for the bulls or burst for the bears
In this feverish dull and undecided condition the
market continued through the week and SO closed.
There being less necessity disturbance Of loans.
Is well as q reduced demand for accommodation.
growing out of the shrinkage of prices. money re-
NAMED easy ON call between the rates of and per
cent 1t was o surprise. therefore. when the bank
statement on Saturday showed the large decline OF
s372 $50 in the surplus reserve. leaving only the
amount Of $50 in excess OF legal requirements.
This is partly accounted for by the shipments 10 the
West-not to move wheat. for the high prices nave
checked expectation and securely planted the staff
of life in the Western entrepots-but to "margin'
The crop at the ruling high figures. In this connec-
ton street report gained credence that prominent
"carrier" of wheat had shipped some $oVUo,ooV u
Chicago and Milwaukee to assist in the Juggling OF
his holdings. The most salient events of the week
were the sudden and serious break down of the st.
Louis and San Francisco stocks Friday and their
almost as sudden rally Saturday. The decline
carried the whole list with it and for time matters
looked in sailors parlance. dusty" The infection
even reached the ''yanderbilts." which for time
were the weakest of the lot-like Mary's little lamb,
when these stand-bys give way the rest OF the
market is ''sure to CO." However. there was gen.
era pull up toward the close on Saturday and the
week ended with considerable return Of confidence
and to the agreeable accompaniment Of a very strong
market The course Of the government bond mar
ket was directly the reverse Of the share market.
A large business was done and the fours and AIS
were in sharp demand at growing prices. As many
orders for blocks OF large amount it was sus-
pected in some quarters that Mr.. Vanderbilt had
been converting some Of his Lake Shore, Western
Union and Michigan Central into government stock.
and color was given to this by the simultaneous de-
cline in the former aud rise in the latter. The week
closed very much mixed. large short interest has
been created, which is q good thing to build boom
on but the sound Of the boom itself is not so reso-
nant as 1t week ago. aud in fact appears to be
fading away in the distance.
The total sales at the Board during the week were
1910 600 shares against .752 last week. Follow
Ing is an epitome of the transactions:-