The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-05-14
Influence of the New Peacefu!
Prospect.
The General Stock List Strong, with
Moderate Activity.
Governments Firm and Southern
Securities Steady.
The Specie Movement and Foreign Elk
change B0utwell's Resources
and Our Imports.
TEE BUSINESS OF THE SUB-TREASURY
WALL STREET,
MONDAY, May Is, 1925 p. M. !

ALL OUDASLOO VI mi EUO ULANUnl
WALL STREET,
MONDAY, May 10, 1S72-6P P. N.
On 'Change to-day wheat was held firmly upon
Che more favorable Liverpool advices, without
responding inquiry, holders and buyers being d.
vided In their views At the close spring was
easier. Flour was IN fair demand at higher prices,
the advance checking large dealings The first i'm.
portant shipment from California reached here to-
day. Cotton was quiet and frmer on the SPOT;
futures dull and unchanged. The week opened
with
REVIVAL OF SPECULATIVE ACTIVITY IN THE STOCK
EXCHANGE,
which exhibited itself chiefly In selling movement
In gold and sharp upward turn in some special
ties Of the stock list. The exciting cause of this
animation was the confident announcement in the
morning papers that the differences growing out
Of the Interpretation OF the Treaty of Washington
were in fair way OF amicabe adjustment. The
precise means whereby this contamination most
devoutly to be wished" was to be accomplished
was the occasion OF considerable discussion
throughout the day without any satisfactory
outstanding, and even when late In the afternoon
. Washington despatch brought the intelligence
shat supplementary treaty, In respect
to the subject Of consequential damages had been
agreed upon, but little more light was gained as to
the nature of the settlement supposed to be therein
contained The street was, however in o state OF
mind to receive any assurance OF agreement be-
tween the two governments In the fullest conf
aence the more SO that the current London advces
showed a markedly improved tone to American Sc
curites there and, without stopping to the
probabilities OF the proposed settlement proving to
be final, accepted it without reserve. Thus for
time this afternoon the markets wore quite
A COULEUR DE ROSE ASPECT,
% one despatch followed another, making as 1t
were assurance doubly sure that the British lion
and the American eagle had agreed to keep house
together After the announcement that the treaty
had been agreed upon came the comforting endorse
Ment from Secretary Boutwell, that the negotiations
were progressing favorably, and that chance for
failure existed, Notwithstanding statements to the
contrary, added to which later, was the infor1na-
ton that the President had communicated o mes
sage to the Senate supposed to be
the supplemental treaty upon which
the Senate went into executive session. At this
point Wall street left of, but not without the
further millennial intelligence that general am
nesty bill had been passed, point communicated
evidently by way Of illustrating the peaceful pur-
poses governing Congress at this important crisis
but which turns out to be an exaggeration In
view Of these various influences operating towards
innation it is not matter OF surprise to note that
THE STOCK MARKET WAS DECIDEDLY BULLIsH
to-day, and showed q marked appreciation In nearly
Ill share values. The leading speculative favorte
was Pacific Mall which, opening at II, after selling
at 761 advanced to S2Z. Panama also sold up from
1853 to 12o maintaining it's advance very closely,
with the latest sales at 1191s. There is quite
problem involved in the simultaneous advance OF
these stocks First, taking
PACIFIC MAIL
alone, we have the final enactment by the sigma
ture Of the Governor on Saturday Of the bin author
tZinO n reduction of n there
seems to be no reason why such reduction should
give any increased value to the present certificates
which only obtain under the law pro rata valu
ton to new certificate, which 1t will be necessary
20 ISSUE representing the reduced capital valua
ton. OF course there is q saving OF taxes to be
looked forward to- which is something Of ar item.
Again, there is the election to come or the last
week In May, the books to close on tie goth inst,
which has induced considerable furry among the
shorts said to comprise the present direction. But
sssociating this stock with
and it's advance there comes from Washington
suggestive item to the effect that the Senate Com.
mittee on Appropriations have unanimously agreed
TO report the amendment to the Army Appropria-
tion bill This amendment relieves the Secretary of
the Treasury from the restriction which now pro-
hibts him from reservng In the interest account OF
the subsidy bonds more than one-half the cost OF
n passed will be followed, 1t Is said, by q
movement on the part Of the Secretary
to collect all. tile arrears or interest on
those bonds. The ex-Hon. 0akcs Ames Is reported
as saying that the Union Pacific Railroad cannot
pay this interest while 1t s also asserted that the
road has friends enough in the Senate to kill this
amendment II so reported. There is an interest
ing coincidence here for the consideration OF
thoughtful minds.
ERIE IS AGAIN ACTIVE,
and, stimulated by fresh movement In London,
where the American shares advanced to SAX a IS
and the protected shares to b5k a 55k, sold up to
70,s leaving or lower with the rest Of the list.
THE OTHER FEATURES
OF the stock list were Rock Island, st. Paul and
Lake Shore, which were active and buoyant The
general list was strong and steady until near the
close, when, upon sales to realize on the leading
stocks the whole market receded
The following were the highest and lowest prices
Of stocks during the day.
New York Central. ess 97h
New York Central scrip........ 92h elA
nariem. ................ ...... lzoa AaoTA
~. s --...'...........''' oV5s &c
l.ahc Shore. 9oS oo,a
WaDusn.. ..................,... 16s6 l0ss
northwestern. ................. TX 76H
northwestern preferred........ 93A p3h
Rock Island. ia 1l2k
Milwaukee aud st. Paul. ....... COZ SO
Milwaukee and st. Paul preferred 1917 79h
Ohio and Mississippi. ........... lsX lSx
Boston, Hartford and Erie...... lsk 9S
New Jersey Central ............. 100x 1924
Union Pacific. ..............a... 39X 80
Col, Chicago and Ind. Central . 3sE arg
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