The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-09
FINANCIAL and COMMERCIAL.
The Stock Market and Its
Fluctuations.
Gold Firm; Shipments Engaged-Spcsie
About TO Leave the Country.
GOVERNMENT SECURITIES STRONG.
WALL STREET,

WALL STREET,
FRIDAY. May SO p. M.
Stocks to-day opened In most instances at q
tribe lower figures than those which marked the
close yesterday, and until about nalf-past one or
two O'Clock underwent fractional fluctuations that
are scarcely worthy OF comment. After that time
there was visible improvement, the reaction rang
ing from u to ~ per cent, and the close was gen.
orally made ut the highest points OF the day.
Opinions are very much mudded with reference
to the existing situation, for there is not little in
the market that is artificial and unreliable.
Changes occur without seeming cause and when
they are least expected, give no token OF perma-
nency and are as deceptive as they are
sudden. It Is for this reason that operators have
been frightened and business is drifting into
condition Of dulness There was some outside
buying to-day on account OF permanent investors,
who evidently are satisfied with the low prices
and are taking stocks from the street; but there
is yet feeling or fevershness and an indisposition
on the part OF the average spcculat0r to engage in
large transactions. The Improvement at the close
was encouraging, and may possibly be the FORE
runner OF small advance; but, as we have said
before, the general situation Is uncertain and de-
moralizing. The impression exists among many
who are well informed that
SOMETHING Is HANGING OVER THE MARKET
which excuses the exercise of the utmost caution,
believed the rumor that was In active circulation
that very considerable amount OF sterling had
been protested In London and large house here
was involved The amount named Is fl26, 600, but
SO far there ia no confirmation Of the report 1t
may prove only q speculative canayd invented for
the purpose Of afYecting prices
Not little comment was Occasioned by the
publication in this column this morning OF facts
connected with the iden MITIGATION OF the interests
OF the Rock Island Railroad Company with those
OF Canada Southern. The announcement was
somewhat astounding to the street. and an at
tempt was made by one or two parties to deny the
same but later the fact was so thoroughly con-
hrmed by several OF the leading fnanclers, to
whom the secret had been committed, as to leave
no room for doubt. The Northwest Railroad
Company, as wen as Rock Island are mixed in this
matter and it is not at all improbable that, on the
return of certain gentlemen who left New York
on this business during the present week and
whose names are o guaranty for their earnest
ness in it, we shall have full development
OF very remarkable combination. Whether Rock
Island advanced half million or q million ana
half OF dollars or not, expecting to make up any
deficit by personal subscription, Is nothing; the
agreement has been seen and read land II not
destroyed is now in the city, which establishes
thorough identification with the interests OF
Canada Southern. The stock transactions
amounted to only 12o,o67 snares, divided as FOL
lows OF Western Union there were sold 81 500;
Union Pacific. %, $50: Wabash, 1000; Pacific Mail,
1880; Ohio and Mississippi. 1920; New York
Central I72e; st. Paul, 3s0o Lake Shore, q, 800;
Hannibal and ST. Joseph, 2l4o; Erie, $500; c.. Q.
and l. c., 1895; Rock Island, 10, 725; Northwest,
! 3,7lo.
HIGHEST AND LOWEST