The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-05
FINANCIAL AND COMMERCIAL.
The Tendency Of Prices Stocks LOWcr-A
Break in Missouri Pacific.
CURRENCY WORTH ONLY85.2C
Gold III III 3-8-Money 2 1-2 and 81 Per
Cent on Call-Railroad and Govern
ment Bonds Generally Steady.
WALL STREET,
= - F1FT1''..i
MONDAY. Oct. 4-e Z. NJ.


MONDAY, Oct &c T. M.
There still signs Of a restless feeling in and
around Wall street No one can give the reason Why
but there is a vague expectation Of something yet to
occur that may further depression in values
Perhaps the immediate influence is due to tho weakness
OF Union Pacific, which, after long Of hrmness
at about II and 70 has declined 637s similar
condition in Missouri Pacific, which has suddenly
shaken confidence by running down, within week
ten days. from As 2s-the panic price-and by loss
since yesterday Of ~ per cent or the cause may b,
found in the belief, beginning TO take firm hold o.
the financial mind that all property is seeking leve
corresponding with the necessities OF the times The
failures of savings banks the breaking up Of mer
chants the sales Of goods below cost the foreclosure o.
mortgages the sacrifices made to obtain money and pay
debts, the struggles Of those who for eight ten
years have been carrying loans-these certainly
bright features the situation and are not sug.
gestiye of early improvement natural
quence faith has weakened, capital shy dulness rules
few speculate where the play against them ia.
with loaded dice and the market left to the manipu-
ation OF brokers, who, in the absence OF legitimate
trade forced gamble with each other in order
pay Office expenses
MARKET.
The principal feature of the day as above Indicated
was active speculation in Missouri Pacific the open
ing price of which 80 the lowest 2s and the closing
price 20 On the street the assigned for this
markable decline in per cent stock that has here
tofore been in fair repute is the mprobaby that its
next dividend-due this month-will be paid From
officers OF the company, however learn that far
its business prospects concerned there is
for any deterioration in the it's shares and
that they have every believe default will
They do not pretend to account for the present
raid and are apparently as much surprised the
unfortunate holders of the stock who tho
figures going against them with such rapid strides.
Advices from st. Lous teegraphed here in response
inquiries corroborate these statements. The total
Der Of shares held in this city believed to be about
5000 Tho sales to-day in the neighborhood of
IL 600 shares which would indicate that considera
BILE short interest has been made. The stock Of the
company represented by say H. 900 shares of which
$500 held by the company If tho credit of the
corporation is impaired by the malicious efforts
its enemies extent which will forbid the
money negotiations incident to the payment OF the
dividend, the stock at its present price may prove
unusually good Investment As Offset the forego
ing statements it should be observed that OF the
German bankers understood to be selling the stock
without regard TO current quotations. and in the belief
that further decline will be made much lower than
present figures 1t may be well enough, however foi
the Spectator to watch the market and ascertain
whether the parties who selling it down will
not themselves be anxious buyersa
Lake Shore advanced from 53T to 544, but
531a. No fresh developments made with refer
to this stock. Pacific Mail, sales of 80 900
Shares fell of from 365S to 5%. Earnest endeavors
apparently being made to bull the stock but the
officials Of the company have presented figures that do
not command confidence, and the subsequent emenda
tion by the Vice President leaves the matter still
open TO doubt Western Union steady at 76H 10.
Union Pacific sold at 65H 63Z. Ohio and Mississippi
at 1875 161S Hannibal and St. Joseph at 10 1sK.
Atlantic and Pacific preferred declined from So IL
ST. Paul sold at 347S 34h St. Paul preferred closed
at 63I after sales 627s. Northwest sold at
3sk 3sH SO. The preferred ended at 500. Rock
Island opened at 1919, dividend and sold down to
103M New York Central steady at 1927 102
New Jersey Central quoted at the close at 107,
after sales at los
sALRs TODAY
gated las, 400 shares, which distributed among
active stocks follows:- New York Central and Hud
son, 900; Erie 1850; Lake Shore, 81 $685. Cleveland
and Ptsburg, 100; Northwestern 500; do preferred
$50; Rock Island 500; Pacific Mail 80 41o ST. Paul.
$500; do preferred, 1000; ohos, 1900; Western
Union, - 500; Union Pacific 1880; c. G. and l. c.,
300; Missouri Pacific $50; Atlantic and Pacific Tele
graph preferred, 2,225.
OPENING, LOWEST PRICES.
Tho following table shows the opening, highest and