The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-24
THE BANK ATEM ENT.
Government and Railroad
Bonds Steady.
GOLD sHIPM rs.
Reports from the Treasury
Department.
WALL STREET,


No better Illustration OF the true condition OF
the stock market can be given than Is embraced In
Its history for the past two days. The market
opened on Friday morning with some spirit at
slight advance on the closing prices Of Thursday,
but was met with order for the sale OF q few
thousand shares OF Toledo, Wabash and Western,
when this stock exhibited such weakness that on
transactions OF only about 5000 shares 1t recorded
. decline OF 1x per cent The order was then judi
Cfously withdrawn, and the point was put In cir
cniation that wabash was raided. This enabled q
certain party to buy freely OF other stocks. 1t
point worth considering, and was responded to
by very general desire the part OF the .sbears'
20 close up their short contracts and get 'rightn
ON the market, which resulted in very strong"
market for the balance OF the day, with an average
advance at the close over the opening prices OF
less than per cent on the active stocks This
morning
THE SANE MANIPULATION
was continued, supplemented with the very posi-
tive Information that a certain party had for sew
eral days been quietly buying all the stocks he
could without advancing the market This state
ment was successful ia bringing into line the re-
manning shorts, SO that before midday the almost
universal expression OF opinion was to the eject
that the market had seen its lowest prices and
was now ready to advance, which feeling was en-
Outraged for the balance Of the day by q steady
upward movement Tonight probably discovers
q market more bare OF the sustaining power OF
short contracts than at any period for the past
SIXTY days The next few days viii demonstrate
how much OF this change OF feeling has been
caused Dy adroit manipulation and how much
Is due TO any real change In the con-
dition OF the general business OF the
country. The transactions to-day amounted
to l19, $3.50 shares, which were distributed as fol-
lows:-Chicago and Rock Island, 4,26o; North
west common, 1850; G. G. and G., 700; Delaware
and Lackawanna, 500; Hannibal and ST. Joseph,
1000; Lake Shore, 14,67o; St. Paul. 6,7T5; New
York Central, as45; Ohio and Mississippi, 1900;
Pacific MAIL $500; Union Pacific, $4,000; wabash,
LOO; Western Union, $3.50.
THE RANGE OF PRICES
was as follows Western Union sold at IN 72ss
Tx. Pacific Mail at 421s 4sh. Rock Island at
06k 971<. Union Pacific at 273s a PIX q 273, Lake
Shore at T5h q 76A q 70, New York Central at 9S q
esh 9sk, Ohio and Mississippi at 23z 24,i, pre-
ierred at 43 a A o As, Northwest common at 40
AK, preferred at 5SIs a 59lz 5ex, ST. Paul at so
83H, preferred at So 81, Wabash at
35x 81 37%, c. G. and l. c., 1917,
Atlantic and Pacific, Is. The two telegraph
companies which give to the street the price
OF stocks have suspended the reports concerning
the price Of money. II would be equally wise II
these companies would also forbid the occupation
Of the tape by the rumors Of the day and leave
news agencies and the newspapers to distribute
ordinary events Too much outside matter only
serves to retard the specific business for which
these lines were created.
THE BANK STATEMENT.
This may be regarded as favorable in one sense,
lDasmuch as the banks now have $20.6l4,6 $50 in
lawful money in excess OF the rs per cent of total
liabilities. This is gain upon the report OF last
week OF 81, o42,475 The loans have decreased, but
there is increase in legal tenders OF s. 753 100
The following is a comparison OF the averages of
She past TWO weeks
Nay 16. May %. Differences.
Loans $2S4 5s7. 500 $685. s14 400 Dec. ST. .73 100
specie. 2z3ol,6oo 26,o22, 300 Dec 1878, 900
Legal tenders ST. 100000 5ss53, 400 Inc. 100
Deposits. 1885, 200 234 800 Dec. 2151,700
Circulation. 2o923 900 26,sU0,900 Dec... l23, 900
The following shows the relation between the
total reserve and the total liabilities
May Is. May 20. Differences.
Specie &2T, 30l, GOO $26 022 800 Dec 219, 300
Legal tenders 81, 300 SO, 1853 400 Inc. 2753
Total reserve. ssA 300 SIS 700 me- ST. 473 800
Circulation. g. 923 900 $500 900 Dec. 1913 900
Deposits. .236, 3o5, 900 234 23 Dec.. ISL 100
Tot n'bties s2s3 3s 300 s2sl 044 200 Dec $22747oo
Esp. c. res've- 65,o29, T25 6526l050
Excess over25
C. reserve ls5721s5 2oel4e5O Inc Q oa2 ATE