The New York herald., 1874-12-22
FINANCIAL and COMMERCIAL.
The Stock Market Without Feature---
Prices Unsettled.
MONEY 4 AND 8 PER CENT.
Gold Steady at Ill l.2 Ill IS and Govern.
ment Bonds Firm.
OTHER sECURITIEs STEADY.
WALL STREET.


MONDAY Dec. 2l-6 p. NJ.
The stock market to-day was nuctuating and
feverish. No definite prices were established. and
there Is no basis outside or pool calculations on
which representations can be made. wide
difference OF opinion exists concerning the future
OF stocks, and IL would be difficult 10 divide into
equal parties those who espouse higher or lower
prices. II one may inler possibilities from the
dealings OF the past three or -FOUR days, 1t Is not
unreasonable to suppose that the large short In
terest created during this period will run to
"cover" At the first sign OF rcacrion. A raid Is
always temporary and incidental. 1t carries
prices down witcoat rhyme or reason. When the
bottom Is nearly touched some shrewd party
drops In, and by steady buying checks the
decline. Then commences another turn
In the speculative wheel and sharp
change In the character Of transactions. 1t might
be unsafe to allege that such process was III
course to-day; but the uncertainty, the tremu-
iousness, the small reactions, the hesitation OF
brokers TO obey oraers to be filed on their own
Judgment the unexpec - spurts made by stocks
supposed TO be very weak, all contributed to un-
settle recent impressions and produce a fresh be-
lief that, even though certain stocks continue to
decline, they cannot far go TO the bad as to for
bid reward to the investor who has faith to rest
npon his venture. 1t is not easy TO say that this
stock will advance or another Will decline; but 1t
ID not reasonable TO expect-for we had similar
experience IN September, 1S73-that any great
corporation, with millions at stake and rich bond
holders to back it, win not resist permanent de-
preston and infuse into their interests fresh
strength. That which Is weak must eventually 60
TO the wall. That which Is solvent will prove itself
70 ana be maintained
THE PRINCIPAL FEATURES
OF the market to-day were Northwest common,
Western Union, Lake Shore. Pacific Mail, Wabash
and Union Pacific. Northwest sold ut 43k a 43
and closed at AK. Western Union opened at 812l,
went or TO 81 soy. recovered TO 81, sold at 79ss
ex DIVIDEND and ended at 81. Lake Shore opened
at T9, advanced to 791s fell of to 1917 and closed
Rt 79k. Pacific Mail started at 36h, went or to
sSH and ended at 35s. Wabash sold at 22s, al
vanced to "a, fuctuated around this figure
and closed at o3A. Union Pacific began
Rt a. receded to 33n and closed at
the opening price, Ohio and Mississippi
sold at 80 a 29T a 3oA a 297I 30H. New York Gen.
tral was steady at 1908 . lOOX. Erie sold at FIX
seA q FIX; st. Paul common at 3615 q 36h o Seh.
Panama declined from lis to ia. Atlantic and
Pacific Telegraph SOLD at 10.
THE SALES
Of the day amounted to 247, 900 shares which Is
reduction In the trade OF Saturday. These are
divided among the principal stocks as follows:-
New York Central and Hudson River 200; Erie,
1900; Lake Shore, 33,7OO; Cleveland and Pitts
burg, 200; Northwestern, 4O.500: do. preferred,
1000; Rock Island, 1850; Pacific Mail, SO, 100; st.
Paul, $500; Ohios, 1900; Western Union. so.100;
wabash, a4,30O Union Pacific, %, 300; c., G. and
l. G.. 500; Panama, 1,100.
HIGHEST AND LOWEST PRICES
The following table shows the opening highest