New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-04-19

facts bear directly upon the Exchange markets and
fully account for the small supply Of commercial
bills. Trade in dry goods circles has been unsatis-
factory and for the first time this DISPOSE
ton to force sales of staple goods by concessions in
prices has been evinced. We regret to learn that
the stock of prints in first hands has induced our
print works to reduce production to the extent OF
running on half-tme and that the example is likely
to be followed by others. The financial situation pre-
sents scarcely feature calling for remark. Gold has
been quiet but firm at 115isd 115ssa 11i7sd 115ls,
and with the rate for sterling fully up TO the specie
shipping point ii cannot be expected that shipments
of coin to considerable amounts long be delayed
although for this week the total export of gold only
amounts to $131 900. Money has continued TO
work easier the rate on call having declined from
10 per cent with a shade more activity at
the close, and hardening OF the rate
to per cent First-class commercial paper
is in demand and at sac per cent.
The weekly statement Of the bank averages pub
shed to-day reflects the return current of currency
to this center after the April disbursements, and IN
dicates free supply of loanabe capital for the re-
mainder of the season. The market for Govern
ment bonds has been active and prices are all frac-
tionally higher than week ago, while the cur
rency 6s have advanced 17s per cent during that
time, owing probably TO the newspaper statement
that Secretary BristOw has arrived at the con-
cluson that these bonds may Re deposited as secu-
rity for National bank circulation The few trans
actions which have been made in State bonds call
for no remark further than that the quotations re-
main firm. For good railroad bonds the in
quiry has been active. and prices of all have
remained firm, while for some of the issues.
the prices of which had been unduly de-
pressed a handsome advance has been paid
The speculation on the Stock Exchange has upon
the whole, dragged heavily along, and although the
very clOse was marked by little more spirit In the
dealing the railroad shares generally lower than
on last Saturday. notable exception to this how
ever, is that Of the Panama stock, which has adj
vanced, on q very limited amount Of business, si2
per cent The reason given out for this movement Is
that the Company have determined to adhere to their
demands-which, the officers of the road claim. Its
position enables them to dO-thlt the new contract
with Pacific Mail Steamship Company shall give to
the railroad all the increase there Is or may be
by advanced rates between New-Iork and
san Francisco. Whether or not this reason
ing is valid, few days viii probably demon
strate. In fact, it was reported tins afternoon
that d contract had been signed, but II true the
terms of it were studiOusly kept from the public
Union Pacific. after having sold as high as 1879
sales at 72l4. comparatively small short interest
which had been encouraged by the decline III prices
early in the week. in its efforts to buy back the stock
which had been sold furnished a demonstration OF
tile very small quantity of this stock that remains
floating upon the street. II cannot be doubted but
that the extraordinary gains in the Company earn
inys encourages many TO hold to their stock rs
permanent investment, Notwithstanding the strong
temptation to accept profits ranging from I'D
10 30 per cent but in almost every instance where
holders have yielded to the temptation, they have
bought their stock back AT higher figures, Il at all
Pacific Mail the third and last in this Pacific comb-
nation still fingers somewhat upon the ragged
edge" with its exact position apparently not yet
definitely fixed. II is believed that the finances Of
the company have been found to be IN even less
favorable condition than expected by the new
management, and that notwithstanding economy has
been enforced in every possible manner, the bank
balances do not improve The price Of the stock has
ranged during the week from 43I4a i3 = l-''s
at424. the latter price having been made
TO-DAY after therumOr above referred to. that lis az
ferenccs with the Panama Company had been settled,
had obtained circulation. The speculation IN the
general railroad shares, which nj time Of late
has reached beyond the dignity of " brokers'
SPECULATION" has dragged heavily along without life
or animation. The railroad war in which all the
companies east Of st. Louis and Chicago are now
engaged. and the determination, stated, on the
par. Of the Pennsylvania Company To carry II on,
even 10 the reduction of its dividends If neces-
sarv" until such time the Baltimore and ONO
shall she on Blended knee for terms is not generally
considered as state of things which is
conducive TO large met earnings And 1t Is
now generally believed that the near approach
TO the opening Of lake and canal navigation renders
il certain that there can be no advance II rates
until after navigation shall have closed next Au-
rumn. if, indeed the opening does not prove to
be the signal for another grand reduction and such
q cutting of rates as to leave the road which shall
have succeeded during the Summer in doing the
smallest amount Of business in the best financial
position next Autumn. Ii has been stated that the
Central and Hudson purposes to open a fight with
the canal for the grain trade and proposes to fetch
wheat. corn &c, from Buffalo 10 New-YOrk at
cents per bushel but as the shipper can as
well afford TO pay "a or cents to the
canal steamer as 6 cents to the rail
road. and as the steamer can live at
that rate It seems unlikely that the plan for
the closing OF the canals during the coming sea-
son may prove TO be successful, however much it
may add 10 the bonded debt Of the railroad These
are few of the reasons why one stock which shows
what appears TO be substantial and permanent i'm
provement in its business and finances, has advanced
some 80 per cent while leaving the remainder of the
railroad shares about where they were when it
started The subjoined table shows the extreme
fluctuations in United State bonds, the leading rail-
way miscellaneous shares, and gold well as the
closing quotations of each at the dates undermen-
toned, also the total number Of shares OF each lead
ing stock sold during the week
Closing Number
For the week Apr. apr ,fafus
Highest. Lowest II. In. sold.
e. g. Isl &c COUPON, , 93 55s 1l22i. l73s l75a