The New York herald., 1875-02-15
FINANCIAL And COMMERCIAL.
A Review Of the Events of
the Week.
CAPITAL, CREDIT AND TRADE
The Market in Gold. Money,
Stocks and Bonds.
WALL STREET,

SUNDAY req. ~. ls7o.l
II 1t were not for the uncertainty OF the cOndi-
tions under which capital is now compelled to
seek employment there would be little complaint
throughout the country OF the absence OF prosper.
ity. But while legislators continue 10 tinker with
financial questions either In Congress or In the
States; while granger laws are enforced to the
detriment OF railroad corporations, or monetary
interests are menaced by changes which are ar
best but experiments, 1t Is useless to expect
prompt relief or to count upon favorable results
from natural laws. Recovery from panic Is
always slow, but 1t must be confessed that at no
period in our history has the work OF recupera-
ton been more retarded than 1t is at present.
Around US are all the elements OF growth; every
n0ur Is adding to
THE SOLID WEALTH OF THE COUNTRY,
business men are conservative and business itself
10 reviving upon a basis that is measured more
closely by real values than heretofore; yet the
great leverage OF capital Is wanting because OF
the fear with which the financial situation Is re-
garded and the danger threatened by the insane
work OF political demagoeues. There are millions
OF money lying Idle to day because the owners
dare not trust 1t to the tender mercies OF class
who vainly believe that by passing laws they can
change the current of trade or divert It's control
ling principles from their accustomed channels.
The loss OF gold, the decline of national income,
the decrease in the earnings OF railroads, the
weakness Of speculation, dulness, depression,
doubt--these are
TEE FEATURES OF TIE HOUR.
and they are the result OF causes for which I'm.
proper or untmely legislation may be almost
entirely held responsible. Doubtless time will
effect cure. but meanwhile business will move
with extreme caution, for tho prospective resump.
ton OF specie payments and the imposition OF
resh taxation have made new calculations neces-
orr I1v r. 10 mi UT
trade will adapt Itself to the changed conoirtons,
but gradually we are reaching the bedrock, and
If the people are lett untrammeed by legislative
makeshifts ana the state and general govern
ments viii set the example Of economy, the COM
merce OF the country Will right ITSELF
THE STOCK MARKET.
Speculation in this department during the week
was unimportanr. In fact, since the establish
ment OF the new rule concerning commissions
there has been notable reduction in the volume
Of business and the market has been left chiefly
10 the brokers'. 1t is SAID that steps have been
taken for the organization of another Board. some
Of the larger operators finding 1t Improbable to
continue their orders on the present basis. Prices
we're strong at the beginning OF the week, ad.
vancing from u to per cent, but later decline
set in, ranging from to 4 per cent. The leader
OF the downward movement was Pacific
Mail, which sold from 34zI to 3oX. Wabash
receded from 10A to 12H. the rumor
being current that the road would pass into the
hands OF a receiver. G., Z. and l. Z. declined from
OK to AZ. ON account OF legal proceedings, and
the Appointment OF receivers. 1t closed at 5ss'
Lake Shore declined from 7SX to 727s ending at
73. Northwest common Tell on from ASH to 43, and
closed at 431s. The preferred SOCK went down
from 5sk to 551S. and closed at 55,4. st. Paul
common weakened from 81 to 341s, ana closed at
s4A. Union Pacific was exceptionally strong, SELL
Ing up to Az, the large earnings OF the road
tending to elicit fresh confidence in the stock.
The bonds were also stronger ohio and Mississippi,
Western Union, Rock island, were like wise more
or less active. but the fluctuations were unm-
pOrtant.
THE HIGHEST AND LOWEST PRICES OF THE WEEK.
The following shows the highest and lowest
prices OF the week in the leading shares:-