The New York herald., 1875-09-17
FINANCIAL AND COMMERCIAL.
The Stock Market Firmer, Yet Fe-
verish- Prices Still Irregular.
GOLD RECEDES FROM llO 81 TO ll6 Ia.
Government Bonds Steady-The London Mar
ket Quiet-FOrCign Exchange Dull.
WALL STREET,

THURSDAY, sept l6-0 I. -
The stock market more animated and those who
yesterday predicted higher prices consequence OF
the then abnormal condition Of affairs proHed by their
courage. II ought not to be assumed, however that
the change for the better Local operators
wen understand the fact that figures just go up
down responsive to the purposes Of little cliques and
these select their vantage ground to suit themselves
irrespective of value of the securities which they
may deal A large short interest is a prey always in
vtng 1t existed yesterday and was forced
TO cover. By and by, under the impetus Of
free purchasing, favorable opportunity is
likely to be again presented and we shall have
another batch OF rumors and another break Possibly
failure or two may help the downward tendency.
That the latter exists among the dividend paying
securities beyond question Much as it may be
prudent TO say the most agreeable things concerning
THE COMMERCIAL FUTURE
it is idle 20 ignore the fact that many the most solid
men Of Wall street and vlcnitybankers brokers and
merchandise not express that confidence in the mar
ket which, under favorable conditions would
make it firm and extend its bene6cent influence
throughout the country The real investor has little
difficulty in selecting that which good but the spec
ulator, on tho other hand, dabbles from day
TO day in lottery and he is well or
who has simply ''guessed" fortunate figure.
The hour is full of dstrust. Capital is frightened.
The banks cautious Railroads, the stock-in- trade
OF Wall street, making poor exhibit of earning
capacity. The currency question is unsettled and
remain while political demagogues it for party
ends. More suspensions believed to be Inevitable
Liquidation is yet unfinished process; and so, be-
tween expectation and reality, between suspicion and
misfortune whatever there may be of faith bldes
time, and that work which lends to every in
dustry its life waits upon the changes which, sooner or
later, must show the positive effect of universal shrink
age
THE STOCK MARKET.
As above indicated certain the fancy stocks which
yesterday depressed to-day recovered part of
their decline, and, notwithstanding raid which re-
suited in temporary decline of 4 to q per cent the
close attended with decided Improvement and the
highest prices of the day established The
largest transactions in Lako Shore of which en-
couraging statements said to emanate from the
treasurer Of the company concerning its ability to pay
interest its bonds The opening price was 52H,
the lowest 5176 the highest 5S2f and the close 53A
Pacific Mail next most active, selling 34H 334
a SO a S5A. Erie, Notwithstanding the imitation
proposition of the anonymous EngIishmen, which was
advertised yesterday, held its own at 1877 10 ending
at 1SX. Through OF tho officials of tho company
learn that the present business iss regarded as
paying one and that at tho rate tho road in it's
years. business will not earn its running expenses by
500 000 The passenger traffic is described hav-
Ing largely declined and there many employees who
are yet awaiting their wages ST. Paul common sold at
34h 35h and ended at 35; do. preferred at 61 62,
ending at 62S. We informed that it probable
that dividend will be made the preferred stock
Northwest common opened at 3SI, sold up to 3Sa<,
down TO 372I and closed at 3s& do preferred 52%
53A. Union Pacific sold dividend, at H. Western
Union steady at 70 797l 792S Atlantic and Pa
cifc Telegraph Hold at 20 20A. Missouri Pacific ended
nt4 45&. Hannibal and st. Joseph at 81 Other changes
unimportant
TODAY
amounted TO 233 900 shares which, among active Stocks
were distributed as folows:-New York Central and
Hudson, 44O; Erie, 81 40O Lake Shore, ST. 900; North
western q, 100; do preferred, 100; Rock Island
3OO Pacific Mall $4,000; ST. Paul, 5000; do pre-.
ferred, 1900; ohios $500; Western Union, 27,e45;
Wabash, 300; Union Pacific 500
OPENING, HIGHEST AND LOWEST
The following table shows the opening, highest and
acnft Tho dau.