The New York herald., 1874-12-09
FINANCIl,h and COMMERCIAL
The Presidents Message and
the Stock Market.
Dull MESS AND EXPECTATION
Geld Lower-Money Easy-Govsrnment
Ronds Steady.
ARE We TO HAVE SPECIE PAYMENTS! I!
WALL STREET,
-EIH NcZA hnn q 4 u IA

I
TUESDAY. Dec. So p. M-S
Usually. At thfs season or the gear. both Ehe
5roek and gold markets more or less innn-
enced BY the Recommendations OF the Chef Nag
isuate and his onlciaH. The present time. how
over. appears IN this respect 10 be excepaonal.
fos IL Is di1ncat 10 dad any large banker or pro-
kcr who attaches significance 70 political sugges-
tons or WHO Is disposed 10 step outside oI the
beaten track Of speculative movements lor the
purpose OF ndulg.ng IN aay iancy based on the
re,terated idea Of specie paymenta when Con-
sress fairly acts on this question and II appears
possible tnas law may DO passed which recog-
nizes tho sound views eaunciared by the Execu-
i've and mis- Secre AIRY wc may expect sharp aud
definite changes In all classes ana values. QUE
until then neither speculation nor commercial
enterprise Is likely to uodergo change
suE PRESIDENTIAL MKSSAGR
is simply lecture TO the people. IL rests with
their represen tatIvestn Congress TO make The ap-
piication, and, as results not likely to iu,me-
diatey snsue, prices In all departments may re-
main comparatively steady and undisturDed. 1t
IS singular fact. bat nevertheless true, that tha
theories or the President and his Secretary have
been almost entirely ignored IN ofice discussions
to-day, and that the majority or those who await
prons depend entirely on local speculative move
ments, which begin and emf iu days that can be
counted on oneis hand.
THE PREILNa or WALL STREET
is not generally In favor oil prompt specie pay
meuts. operators care more for o good railroad
report, especially that such event is a
rarity, than Tor q greenbacR that may he pros
pectlvelY represented oy gold, and. therefore, 30
lar this LOCALITY Is concerned, little
interest attaches to the reports from Washington,
to which more ur less oil suspicion attaches that
they meant only TO give feature TO operations
with which congressman their henchnen arc
believed TO be most Identified. In short Wall
street is losing faith In Washington, and the laws
OF trade winning more adhcrents than all the
propositions OF theorists. Every in America
Is anxious TO reach specie payment, but not every
one agrees TO the sharp process suggested by the
President and the secretary OF the Treasury.
THE RANGE OF PRICES.
western Union opened at s2h. advanced TO SEX
and closed at s2%. Union Pacific sold az S5x a
IS 4 s51s; Erie at a7s o 27H 81; ROCK Island at
1ol7 1927 a 1o1h; Pacific Mail at 4oA 40zS q
s9A 40; New York central, l02 = 1927 q l02; Lake
Shore, 8o,l s0h sos Ohio ana Mississippi. 81 .
32k 32H; st. Louis and Iron Mountain. FAX a
25A; Delaware and Lackawanna, l07Z a lOsla u
iosh; Northwest preferred. 62H 62k a 6lk !;
Northwest common, AK AK AK; ST. Paul, SO
s39H q 3sA; WABASH 3oH a 81 a 3o5S a 3oH. c.,
C. and /. C. opened at l0H and closed at 9z. ST.
Louis and Kansas closed at IS
OPENING, HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest
nud yaet n hN