The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-12
FINANCIAL and COMMERCIAL.
The New Finance BiIl-WilI
1t Be Vetoed?
STOCKS AGAIN DROPPING.
"A Foreign View of the Cotton
Prospect.
STOCKS AGAIN DROPPING.
GOLD STEADY AT Ill.
Government securities. Railroad. and
State Bonds as Usual.
WALL STREET,

THURSDAY. June LII Il. MI
Dispatches from Washington indicate the exist-
ence OF two antagonistic opinions in regard to the
probable action OF the President with reference
ahe Finance bill recently reported by the compro.
mise Finance Committee While certain Senator'S
who have interviewed the President, claim that he
will surely veto the II IL pass others con-
Gend that Mr.. Sherman has received assurances
shat II agreed to by both houses, the bill will be
approved. 1t is safer however, to base judgment
upon the inferences that attach to the first veto
message OF the President ana its tender-the men,
orandum published under the auspices or Senator
Jones. From this point OF view 1t seems scarcely
possible that the Executive viii depart one iota
from his pronounced policy, and give to
THE COMPROMISE
the slightest approval. There was not a point OF
objection made to the vetoed bill in the veto mes.
sage that does not apply with equal force to the
present bill. The President clearly does not be-
1ieve In expansion OF the currency in any FORM
and II the English language means ANYTHING.
whether we fnd 1t In the veto message or IN the
recent "memorandum," it means that the author
OF both, II his memory be true and his nrmness
characteristic or the man. win show his un-
qualified disapproval OF the monstrosity cooked
Up as 1t is to save the seats OF Senators and
Representatives who have tried to 19ht him to the
death and have failed for six months to maintain
either the dignity or the influence OF the posi-.
1ions which they hold.
ia TIE STOCK MARKET.
stocks to-day were again dropping. the transac-
lions being small, buyers few ana confidence in
the immediate future by no means assuring. 1t Is
unnecessary TO repeat the comments that have
been repeatedly made concerning the situation
for we can tell only 'the old. old story.n The nuc
'auations OF the day comparatively slight and
utterly unsuggestive promising. The principal
decline was shown in Erie, which not only obeyed
1.-THE weakness reported IN the foreign markets. but
Nesponded to certain Iumors that have been r ,ely
circulated on this side with reference to important
events that are likely to take place, 1t is said, to
the disadvantage OF shareholders. The decline
to DAY amounted to Ia per cent, the close last
might being at s1A, the opening to-day at 3OX and
the close to-day 29X 80. The sudden departure
"of MIR. McHenry, the decline abroad,
THE POSSIBLE RESIGNATION OF THE PRESIDENT,
the. statement that papers have already been
drawn looking to the appointment Of o receiver,
she unsatisfactory results obtained by the English
accountants and the exhaustion OF funds by the
company-these and other things constitute an
array OF facts which, being known to the street,
explain the unusually large transactions that
have recently taken place and the decline In this
peculiarly speculative security that has been OBJ
served both sides OF the Atlantic. The losses or
the day, as compared with last nights closing
prices, are as fo,ows:-New York Central opened
ut 9sX and closed at 9s-a loss or 4 per cent. e.,
c. and l. g. opened at Is, and about held It's own.
The same remark is true OF Hannibal ana st. Joseph
which was steady at 25h. Harlem firm at 129. Lake
Shore fell on x per cent. North vest Il per cent.
Ohio and Mississippi X per cent. Pacific Mail 4
per cent. Rock Island per cent. ST. Paul
steady At 33x. Wabash declined y per cent
Union Pacific X per cent. Western Union Y per
cent The transactions of the day amounted to
So 3OS shares, which we're distributed generally as
1ollows:-Western Union, ZOO; Erie Io,95o; Lake
Shore, 10,3S7; Union Pacific, $500; Pacific Mail,
a4Oo: Wabash. 424o; New York Central. 1893;
Rock Island 1900; Northwest. 1000; Delaware and
dackawana, sos; st. Paul common, 800; North
west preferred. 400; Ohio and Mississippi, 800; st.
Paul preferred, 200.
HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest