The New York herald., 1875-11-23
FINANCIAL AND COMMERCIAL.
The Stock Market Extremely Dull
The Industrious Pea.
@ @ L d II A 8 A.
Rag Paper Investment Securities Firm
Money and A Per Cent on Call.
WALL STREET,


MONDAY Nov. 22-6 p. NJ.
II Mr. Richard Grant White stock broker as
well as a Shakespearian scholar he would probably
apropos OF the midsummer dulness now existing
paraphrase the condition OF things existing as fol-
lows:-"Can such things be and overcome US like a
summer cloud without special wonder2n In fact
there is no Especial wonder" in the matter We pro-
pose this dull subject with few dull words for
the critical condition Of the patient subject OF
thousands both in and OF the purneus
the Stock Exchange There least three reasons
why this state of dulness exists
l. Hard times.
2 Jay Gould.
The Stock Exchange Commission law.
l. Hard times mean small bank balances and small
bank balances reluctance inability TO indulge
In speculative operations In such times these tho
butcher the baker, the candestck maker" absorb
nearly all merchants gains, and he has no incna-
ton to hazard what little may remain in precarious
game that of stock gamblers When times are
flush and money easily made there is always enough
that 'slops over for regular business requirements
that be spared to "nyer" In q
fancy stock But there is no ''sop over"
Just Consequently merchants ct id genus
strangers the market and the whole matter left
the hands OF professional vampires who suck each
others blood in place Of phebotomzing the outside
public, as their predatory instincts should naturally
lead them to do.
Jay Gould is both an ignis fatuus and bugaboo on
the Stock Exchange, for he at invites to ruin and
scares away woud-be spectators from the street. 1t
Is easy thing, when the game is square one,
to be able to count upon success; but when have
certain knowledge that the cards marked and that
the pthy pea is myth the encouragement TO take q
hand is small indeed.
Mr. Gould has manipulated the market so long
often seduced connding dos with confidence gamcs
that the old adage about surviving fools 70 be
for once wrong, else they prefer 10 show their
fooshnoss in other quarters for they longer appear
In the environs of Wall street
8. The Stock Exchange Commission law was passed
last February and its effect has been wipe out the
little business that still existed The sapient forty
who sit as governing committee may be wise in the
light Of somo past generation, but they are not
their own.
Despite the fact that the prices of labor OF all kinds
the length and breadth OF the land throughout we're
being lowered under the pressure OF restricted de-
mand. this astue body thought it t and proper time
to mark up the rates OF commissions, and they did so
accordingly The effect has been to drive all small and
quick turning spectators entirely Of the market
and consequently to dry up this rivuet Of commits
sions-n the aggregate valuable sream--whch once
these existing can it be wondered at tnat the Stock
Exchange is a Yeritabe slough of despondP
There is scarcely werd 70 be said to-day in regard to
transactions, so limited they in number Although
the sawdust was carefully raked and Mr. 4errymau ap-
peared in the Lake Shore with additional coat
OF bsmuth his visage he made but wry faces at the
best He scarcely elected smile from his admirers,
and after 0o0 share tourbllon retired leaving the
prices Of the stock where he found them. The little
"jokeF transferred to-day from the Union Pacific
TO the other pet OF the Same Tx Iansas Pacifcl and
four per engineered to the satisfaction Of
such lookcrs-ou could follow the movement or the
Industrious pea
Although 1t has been sedulously circulated that the
coming dividend Western Union will be paid in fun
a STOCK stubborny refused to bulge from its state of
coma, and there is every reason to believe that the
citizen OF African descent still holds TO his quarters
in the building, with idea OF present eectment
Kansas Pacific, tender Of Union Pacific was
s'washed" into prominence yesterday by nominal ad-
vance from 10 ID followed by set back TO IL 125
THR NORTHWESTERN
exhibited considerable strength report that the
Supreme Court OF Illinois has decided test case
bracing the constutonality OF the Illinois law regard
Ing traGic charges, in favor Of the railroads The
ruling Of the Court referred to simply decided the
before IL, which involved question Of exoron
prior TO the fixing Of schedule Of freight by the
State Commissioners on the ground that the law did
not 60 into effect until after the Commissioners had
made their schedule, and this ground the Attorney
General advised the Commissioners TO consent to dis
missa Of this particular suit Negatively the decision Is
regarded confirming the consttutonality Of the law
Michigan Central continued to be manipulated favor
OF 'bulls opening at o. and selling at 63l 64x
a 641S Lake Shore quiet and neglected at 61& a
6l a61H Hannibal and ST. Joseph sold at 24IS 24TS
a 24S preferred advanced from 81 32k 50 North
western sold at 3s2 393E preferred at 52& 5SK. St
Paul started at 353 and closed at 36< and preferred
went from 651s cox ohos quiet at 1sk a1sH.
Union Pacific makes loss Of 4 per cent after sales at
70 72A 72al. Eric declined from 16 to 15X West
ern Union only fucuatcd between 75k a. 752l, with
close at 75ss Pacific Mail opened and closed at 4oH,
after sales 405s Pacific OF Missouri sold at 13 13}<
ala
The investment shares quiet and steady at about
Saturdays prices.
ADVANCE AND DECLINE
The changes in closing prices, since Saturday, are
as folows:-
ADvAScE.-Atlantc and Pacific Telegraph, u; Allan.
tic and Pacific preferred X Delaware and Lackawanna
n; Northwestern common, 81 do preferred II Ohio
and Mississippi, u Rock Island, & St Paul common
H do preferred q Missouri Pacific 4; Michigan Cen.
raj q; New Jersey Central "a; District Of Columbia
DrctlSE-Sew York Central X; G., G. and l. G., X:
Erie, 6 Harlem. i Pacific Mail, =; Union Pacific,
srarIoSARr- Lake Shore Panama, Quicksilver,
Wabash and gold
CLOSING rRIcEs-a
F.s.9f rs. \ s1!li ssss f S'. p: g 81
SSss:ysT SSss:ysT IL aa asI Ea. Efi u: iis
Mar Lasd&h eEs Ham Ham = !, 5Si goDi Ssts III.