The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-27
FINANCIAL and COMMERCIAL
Lessons from Our Foreign Trade
Wanted, Less Extravaganza.
THE FOREIGN MARKET.
Review of the Week-StOcks,
ina Money and Gold.
WALL STREET,

WALL STREET, l
SUNDAY, April 20. 1874.
Our foreign trade at the present time Is well
worthy OF study. We are improving. Our domes-
no exports for the past year amounted to
$500 200. and for the year 1872 $544, ass 000a
adherence OF about $62, 000, O00 In 1872 We i'm
ported to the amount OF $677 IA, 900; in 1879
Se24 s97 Oo0-a falling on Of $52 00O 0oo These are
significant figures for they poiLt In the right
direction They show a healthy process OF recov-
cry from that most fearful OF all national Diseases
Overtradlng and extravaganza Our people have
been spendthrtits. Making money easy, IL was, SO
70 speak thrown away In the purchase OF vast
quantities OF useless stuff Tor which we had to pay
In the product of our mines and fields. We have
exchanged our cotton Dreadstufrs and precious
metals for great bulk OF gewgaws, which not
only helped along social decentralization, but
run us in debt as individuals and nation. 1t is
rood sign that this foolish outlay has been in
measure checked and 1t win be a better one when
we can no longer AFFORD to indulge in foreign
Injuries at such a public cost. II we must use
them we ought to patronize our home manufac-
tures OF, at least, wait until we have paid our
debts.
THE STOCK MARKET.
The stock market during the week was the thea
tire OF some OF the most extraordinary, II not
threatening, events that have occurred since the
panic. The changes that took place were in many
respects unaccountable except on general princi-
pies underlying the steady decline OF the last
thirty days, although the rapid fluctuations from
hour to hour and day to day seemed to indicate
that prices more or less responded to controlling
Individual force. The notable result was the tum-
bling overheard OF immense blocks OF stock and
the breaking mp Of combinations among operators
on the long side, who were deceived in their cacu-
iat0ns concerning the action OF the President and
It's influence upon the market. The first serious
blow occurred on Monday, when c., @. and !. C.
stock suddenly
DROPPED LIKE LEAD
from sos to 90 and the failure OF Messrs. Capron
u Merriam-its reputed representatives for the
time being-was announced to the Stock Ex-
change the eightietn thousand of shares
were being pressed for sale. Other speculative
securities commenced to reel. Pacific Mail fell of
TO 81, Union Pacific slipped down to the neighbour
hood OF 80, Northwest common passed so and
verged on 4S. On Tuesday the Message brought
sharp rally; but Thursday saw prices again turn
downwards and Generalization on all Sides West
ern Union declined to 6ssS, Union Pacific to 3o,5,
Pacific Mail to 39is, Ohio aud Mississippi to 247S,
Lake Shore to 73A, Hannibal and st. Joseph to
e5h, Northwest common to 43 and Rock Island to
soA. Yesterday, however, slightly frmer feeling
prevailed, although IL cannot be truthfully said
that the market has yet recovered from the fever
.shness that attended It's dealings through the
week. The closing prices were from 10 AZ per
cent lower than the opening prices OF Monday,
except c., G. and /. c., which showed decline of
81 per cent.
HIGHEST AND LOWEST PRICES OF THE WEEK.
The following table shows the extreme nuctua-
hons for the week in the leading shares: -