The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-08-04
WALL STREET NOTES.
MIDSUMMER DUINEss-THE FARADAY-THB
-... - $3.50. -. IL. =. =. ..u.....

M1DsUM,nR DULNEss-THE FARADAY-THB
FALL IN eRAIN-RALwAY MATTERS.
Summer dulness regned ia the Wall street
markets yesterday. There was scarcely a ripple
on the tide O. speculation. The operators well
known on the "street'' are either hidden In some
of the mountain Businesses or lounging by the
shore. Yet, Notwithstanding their summer
ldleness, these busy men, playing at midsummer
games. manage to keep within reach Of the tire
less telegraph instrument which gives every day
the news OF fluctuations In Western Union, Pacific
Mail and Northwestern. When the news was
first flashed over the wires OF the failure OF Dun.
can, Sherman & Co., these restless
LIONS OF THE BoURsE
few to the nearest stations and took the FIRST
trains hitherward. Those in remote quarters,
who could not reach New YORK, said to have
cnafed like Gagged animals. pacing the hotel corr
ridors in noble rage. The crops the weather.
are now the only topics discussed in the halls OF
mammon, and II any adventurous broker should
propose such sensation as the purchase or sale
OF 1000 shares of any stock he would be set upon
as q madman esca led from the midwnter season
OF activity, and hustled out OF the Exchange,
which somebody has strangely named "ths
Devil's Clearing House.I
In the gold market the same activity prevails.
The premium on the precious metal remains
nearly stationary and since the failure Of lead
ing operator last week there seems to be no ex,
element possible about the historic fountain IN
New street, around watch the memorable
SCENES OF BLACK FRIDAY
too place.
There seems to be some movement in good GOLD
paying bonds, instance the gradual and
STEADY rise IN NorthWestern and the demand loI
prompt interest paying Southern bonds. Georgia
seven per cent gold bonds are selling at ABOUT
par; the consolidated Vlrglnias are la demand,
while the Florida Donds-slX per cent gol0--ara
rated at about eighty-fve. The conduct OF thd
last named State Is eredltable in the extreme
aRd her officers are now IN the marketto
REDEEM For THE SINKING FUND
fifteen bonds at par according to law. The StatN
has not yet detaulted in the payment or interest,
and her whole Indebtedness is said to be only
81, 500, 900; the coupons on bonds are receivable
by her own citizens. When this statement Is
compared with the immense city, county and
township DEBTS OF the various States 1t seems
almost Incredible. IL IS to be hoped the various
Southern States will initiate Florida in financial
management, and reprove their enemies who
speak of repudiaLion.
There was a rumor yesterday that
THE FARADAY
had failed TO repair the Direct cable, bat on inquiry
by HERALD reporter it was found that there was
no authentic news warranttnx this belief
TIE FALL IN GRAIN IN CHICAGO
yesterday was tae subjec5 of some snecuatlon.
Wheat declined in Chicago over four cents per
il IS believed, in consequence. as It was sup
posed the decline would be in favor OF immediate
large shipments.
THE UNION PACIFIC RAILROAD
reports the estimated earnings Of the road for the
month OF July 1874 and 1875
lS14.-.......- SJ5S 500 n
Increase in 1878 SO 1900 per
Average incre ase OF receipts per $3.50
THE KANSAS PACIFIC RAILROAD
announces that their contract with the ST. Louis,
Kansas City ana Northern Railroad Is annulled.
This seems in some quarters to be interpreted as
an Interruption OF amlcable arrangements,
whereas IL is believed that the intention only to
extend TO the Missouri Pacific the same terms
hereafter as were granted the Northern road. At
all events tho arrangements wish the Union Pa
cihc road should guarantee the st. Louis, Kansas
City and Northern Railroad a fair proportion Of
business. But the unheeding crowd Will follow
the spectators on the Exchange In a rise or de-
cline whether there Is any method in their mad
ness or not.