The New York herald., 1874-07-03
FINANCIAL and COMMERCIAL.
An Awakening on the Stock
Exchange.
M O N E Y Z A = Y.
Stocks VibratON-GOVcrnmen Firm-In.
vestment Securities Quiet.
G. O L ID III E A v Y.
G. O L ID III E A V Y.
WALL STREET, \

WALL STREET, !
THURSDAY, July 2-6 p. M
Tho London Raa,cav Nesos, June 20, has the fol-
lowing paragraph
Now that the tide Of Investment gives indication |
OF nowing towards the best established OF Ameri- |
can railroads, 1t may be useful TO summarize |
nr,eny 'e lacts M ana ngur.s connected Win ine
would lead Us TO believe that never before has
there been so steady demand for the better class
OF American securities, and the reason Is not far
TO seek. vast amount OF capital has accumu- |
lated IN this country, and the investments Offer
that, with declining. trade, the continued
growth OF prosperity Of home railways must
quotations offer no margin for profitable invest
meut Foreign stocks, again, are under cloud,
the heavy losses OF holders OF south american and
ker, while miscellaneous industrial undertakings and
not few mining enterprises suffer from the dis
credit OF various notorious swndes OF the charac-
ter of those recently described In our columns
Unless, therefore. some new speculative man a, At
now OF q considerable portion of capital to those
American companies, whose home market has
considered certain, and should sound securities
generally be selected the result will be advan-
tageous to all parties concerned.
There Is thought tor all in the suggestions tnat
lie there. "Bull" and "bear" may fret themselves
on the moor OF our Stock Exchange and put prices
up or down as their emotional instincts dictate
but when we find the solid land sale) journals
the other side especially active in pressing the
claims Of American securities as sound invest
ments we have. at least, ground for hope that we
are not on the verge Of universal bankruptcy.
English capital Is at present pressing for
employment. and nowhere else can better employ.
ment be found than here.
Stocks exhibited uncertainty in an early decline
OF u to / per cent as compared with the closing
prices OF last evening, which was continued and
exhibited in lurther decline OF about the same
figures until shortly after noon when there was q
recovery OF n to 1H per cent. subsequently to
this the market rallied and closed stronger. The
decline OF per cent IN Rock Island early in the
day, which Influenced the whole market, was due
to kilograms from the West In regard to the COM
pany accepting the terms of the Iowa Railroad law
as an experiment. The wide fluctuations in
Erie were due TO London advices and various
rumcrs here. The principal features were Rock
Island, Wabash, western Union. Erie, Lake
Shore, Pacific Mail, Northwest and st. Paul COM
mon. AS compared with the opening figures Erie
and st. Paul common closed at an advance Of TX
~ per cent; Lake Shore and Wabash q o per
cent, and the remainder OF the list u u per
cent. The decision in regard to State and railroad
litigation al the West is awaited with much inter-
est at this point. There were various reports
anoat this afternoon in regard thereto, but they
all failed upon inquiry Of accurate authorization.
The dealings in the Stock EXCHANGE footed up an
aggregate of 169,2 200 shares distributed as will be
seen, in the subjoined table, giving
THE HIGHEST AND LOWEST PRICES