The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-05
FINANCIAL and COMMERCIAL.
ghs Events Of the Wetk-The Course and
Prospects Of The Stock Market
and General Trade
GOLD AND GREENBACKS.
Large Dividends-HO They May Be Rein
vested-Heavy Gain to the Banks.
WALL STREET,
49,


With the exception OF its last day the week in
Wall street has been full OF interest, not only to
those who speculate. but to those who look upon
certain incidents the Keynotes OF future bust
ness. First there was buoyancy and an exhibit
ton or strength that was not altogether the re-
suit OF manipulation. Prices hardened as If there
were some Thing ike a sentiment aad purpose
behind them. Purchases were made with greater
confidence, and fewer than usual were found
among The hdbttues OF the locality to distrust tho
Statement OF heard that the market from
this time forward is hkely-to improve. Secondly
our fiduciary Institutions, insurance companies
railway and other corporatons and the general
government tseli, nave commenced the disburse-
ment Of July dividends, which, when complete,
will doubtless amount TO no5 less than
$6o,0oO,0Oo This Is large sum TO be
added to the already idle capital that
for months has been seeking investment at the
rate OF two ana three per cent; but IL Is scarcely
natural to suppose thai 1t will itself long remain
unused. Many OF our railway bonds are cheap
and tempting Many among the stocks, however
subject they may be TO the fluctuations OF the
hour, likewise oner rare inducements becau Sc
they are more nKely to advance than permanently
decline. The fact that
PRICES ARE DAILY GROWING FIRMER,
as may be illustrated by the case OF Lake
Shore which aftar receding to57S its recent
stitened to SO. by the 1rmness OF Erie, st. Paul
Northwestern, Western Union, and even Pacific
Mail, and by the prevailing undertone Of the gen.
eral market which will Doubtless not be lost sight
OF by the many capitalists who prefer rather to
sake speculative risk than to lock up their funds
in bank vaults. Thlrdly-Advlce3 from all portions
OF the country bring u sangutne reports con-
corning the condition OF the crops. These prov
ing true, money VIII once more move IN all OF It's
accustomed channels. From the family OF the
farmer, who require their annual supplies, to
the Jopber OF mercnan disc in our great cities,
fresh impetus must be given 10 trade. The
country cannot 60 backward. We have passed
through the OF collapse and are now recuper-
ating. 1t may not be a process visible to the
eye, but silently and stealthiiy 1t is every
where leaving its trail. We are economising,
ehown by the decrease OF our imports, and we
are nnding
A MARKET FOR OUR OWN PRODUCTS,
as shown by the increase Of our exports. 1t is
only two or three days ago that disaster oc-
Cured in France which wiped out property to the
amount OF 300, ooo 0oof such result pro-
duced by would quickly augment the value Of
our grain. Produced by nature, why should we
not expect similar enlargement OF foreign ship
ments and en- advance In prlce9 Thus all things
being considered, there are good reasons why an
ticipations may be hopeful, and the fall be looked
upon as the u3neE OF y peTiOu OF HeSH pEOSpeTlty
The stock Market always flexible and obedIenJ to
temporary sensations, may show alternate
strength and weakness, yet even this Is often In
dicat1ve OF the true situation, and IS a guide to
the shrewd, iar-seetng observer. During the past
week Its course was not exceptional. Opening
strong, both investment and speculative shares
recorded an advance. Later the report OF Lake
Shore ana the decline of the stock rom 621 TO
SIX produced its sympathetic effect on the rest
ofthe market. and it was not benefited by the
approach OF the national holiday and The absence
OF the leading operators from Saturday until
Tuesday.
TUE PRINCIPAL CHANGES
were as follows Western Union advanced from
76X to so% on the success of the new loan, and
closed at o slight reaction, Pacific Mail receded
from AZ to 3e1s, and closed at partial recovery
Union Pacific advanced from 1888 to IL and lett
OF at TAX. Northwest common iell or from 40K
3sH, and tine preferred from SIX TO 40, with
some recovery at the close. ST. Paul was nrm at
B3X 34K Tor tue common, and the preferred 55
G5H. Ere declined IRON 161I to 1873, but closed
st partial recovery wabash declined from 61I
to AZ, and aIterward rallied to 5ts. The other
changes were less mportant. MaripOsa advanced
to 1871, but ielI or per cent at the close.
HIGHEST AND LOWEST PRICES or the WEEK.
The following table SHOWS the extreme fuctua-
tha