The New York herald., 1870-03-25
STOCKS IRREGULAR AND HRAv.

SIOCkS IRREGULAR AND HEAVY
With few exceptions stocks were heavy and lower,
the miscellaneous list being especially weak and un-
dergong sharp decline. In the forenoon the
downward movement was started with racinc Mall,
which, upon the reiteration OF the reports OF
s5 900, 900 lawsuit In san Francisco and the with
drawal OF the steamers the Panama section. fell
to 3ot4. Curousy enough and the TACT gives rise TO
suspicious OF speculative manipulation. the senate
committee in Washington agreed at noon today to
report bill increasing the subsidy OF the China line
to 81, ,0ooo 900 per aunum, the eject OF which an
nouncement was q recovery IN the price to
32A IN final street dealings. IL seems that
the company have been strongly urged to
aoanaon the Panama section and place all their
steamers on the China route, In consideration OF
doing which they are promised close connection and
pro rating by the Central and Union Pacific Railway.
Tney are averse, however, TO abandoning the old
legend OF through steamship line between New
York and China, ana are in hopes OF aspesdy CON-
pletion Of the project OF canal through the sthmus
OF Panama. which would renaer them Independent
or the Panama Railway Company. The proposition
TO consolidate all their operations upon the China
route Is also accompanied by suggestion to reduce
the share capital to ten millions on which amount
the Pacific ocean business alone Is represented to
be capable OF paying hatiering dividend. AS it Is
the price Of the stock will Gucluate, whe the rail-
the steamship route. When the Pacific railway
snail have become the great highway between Europe
and China, as II now is between America and the
East, the Pacific Ocean section Of tho Pacific Mail
route Will be he more important one. In other
words the opening OF the Pacific Railway has almost
annihilated the various steamship lines between
New York and San Francisco. Its development w,ll,
however, gradually remedy the Injury by cniarging
the steamship business between California and China.
In the mining shares Mariposa preferred fell TO IL
without any special reason being assigned other than
that the issue OF first preferred stock was under
stood to be new obligation, whereas 1t IL simply
the result Of converting the as
permitted by recent act OF the Legislature. Quick
silver fell to III. The railways were affected by this
decline and were temporarily weak but raj.
lied N the afternoon. ana the market closed
dull and strong at the Improvement. The
following were the closing prices Of stocks at
the last session OF the Stock Exchange:-Can,o
o51s a 81; Cumberland, 2s bd western Union 3214
324; Quicksilver, sh asA; Marposa, ~: do.
preferred l2 do first preferred, ASH bid; do certtd
cafes, a. q 4s; Pacific Mail, Soas 3o74; Boston
Water Power, l7,s O IS; Adams Express coz a 81,s;
Wcs-Fafgo Express, 10 bid; American Express,
371a s7ys; United States Express. 40 q 4s; Mer-
chants Union, bid; New YORK Central con-
solidated, a2a4 92is; do scrip eoA 90,s; Harlem,
l41A 1a2k; Erie. 2a>s bid; do. preferred, 43 49,
Reading, 86h o 964; Michigan Central, 11oE o 120;
Lake Shore SIX s7,i; Illinois Central, 140K 146;
Cleveland and Pittsburg, 100 I0014; Chicago and
Northwestern, II IN; do. preferred 82X S2X;
Cleveland, Columbus and Cincinnati, "a q 741l;
Rock Island. 1903 12l; Milwaukee and 81.
Paul, 6s,s 5sh; do, preferred. TAX 72X; Toledo
and wabash, 40 bid; Fort Wayne, e3M 93a4;
Alton ana Terre Haute, 3sh ss>5; do. preferred,
65k o &C; Ohio and Mississippi 281s 20; Delaware
and Lackawanna, lo2N lo3I; New Jersey Con-
trail, loa1 a lo3S; Chicago and Alton lt2; do.
preferred, Ill lis; Morris and Essex, 9oi< ooh;
Hannibal and St. Joseph. 1857 lo7; do. preferred,
1851 1875 Dubuque and Sioux city, 1o7is bid;
Columbus, Chicago and indiana Central II l7H.
THE HIGHEST AND LOWEST PRICES.
The extreme fluctuations Of the day in the leading
speculative stocks shown in the following table
or tue highest and lowest priees:--