The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-30
FINANCIAL and COMMERCIAL.
Extreme Dnlness in StOckS---0nly
$4,000 Shares Sold To-Day.
MONEY EASY AND ABUNDANT.
Gold Weak in the Face of
Large Shipments.
WALL STREET.
A. IN a n Ar

Stocks to-day closed In q manner temporarily
encouraging TO these who are on the '1ong" side,
but the DEALINGS were smaller than they have been
for many months ana significant In their
suggestiveness. The degree OF gloom existing In
Wall street resulting from the absence OF Gus
toners and the steady depression IN prices has
not found parallel Tor many years, and, what Is
worse, there seems to be nothing in the immediate
future on which to base the hope Of better con-
dttton. Strange reports are made with reference
TO certain lines OF railway, and insinuattons cal
culated to weaken the value OF large interests
1reeiy published without evoking denial. There
are not o few experienced observers who express
the belief that the market has ALREADY entered
upon condition II 'dry rot.n from which there
viii be no recovery until
COMMERCIAL PROBLEMS
outside Of the street FULLY settled and the bust
ness men OF the country definitely ascertain the
basis upon which their luture work must be estab.
nshed. 1t Is not alone In Wall street that prices
have been compelled to respond to the memorable
fact that forty millions OF people are practising
greater economy than they have done at any Pc
Rod since the beginning OF the late unpleasantness.
The process OF contraction Is showing itself every
WHERE and the country in every vein Is thrObbing
with less OF the exlravagant pulse OF life that for
years has maj ked species OF commercial intoxt-
cation. Notw outstanding the very positive denial
the part OF certain directors OF the Lake Shore
and Michigan Railroad Company OF any knowledge
concerning the resignation OF Mr.. Amasa Stone as
the managing d.rector, we have good reason to
state the fact that this gentleman did resign his
position soon after tie recent election, and that
the act was intended TO take effect on the 1st OF
July. This In .ormaIlon, however, was carefully
guarded from the public as long as possible, for
what purpose we are now unable to state. The
total number OF
SALES TODAY
amounted to the unusual and noteworthy sum OF
39.64S shares. OF Western Union there were sold
s,1OO; Union Pacific 6, 100; wabash, 1900; Pacific
MAIL $500; Ohio and Mississippi. 1872; Lake Shore.
$3.50; Northwestern common, 500; do. preferred,
$40; Rock Island, $50; c. c. and l. c.. 400; Chicago
and Alton. 200; Delaware and Lackawanna, 1913;
Adams Express, $50; Erie, 4lo; st. Paul. 800; do.
preferred, 100; New York Central, eco. Western
Union sold at 72a+ 73h IS. Pacific Mail st 424
AK 49, New York Central at 9s a 9Sh esh
SSk. Rock Island at OF a 96T a o716, Lake Shore at
TAX q TAX a TAN TAX TAX, Union Pacific at % a
AK 28h a %. Northwestern common at 4OH q
4OH; do. preferred at SIX, Wabash at 37h 81, st.
Paul at 33N 33ss, ONO and Mississippi at PAX
TAX q PAX.
Tomorrow is Decoration Day, consequently
none of the speculative markets will be open.
The Cold Stock, Pr duce, Cotton and maritime
Exchanges will be closed. The banks will also
suspend business, and only the Post Office and
Custom House oe open Tor short time to accom-
modate applicants.
THE GOLD MARKET
Notwithstanding the large shipments OF gold
that have taken place during the past fortnight,
and especially during the present week. specua-
ton refuses TO yield, and we consequently have to
record tame market. The price opened at 112H.
advanced to 1127s. but closed at 1l2h.
The rates paid Tor carrying were 2H g Ia, and
finally per cent. Loans were also made nat.
The operations VI the Gold Exchange Bank to-
day were:-