The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-29
FINANCIAL and COMMERCIAL.
Business Prospects, Encouraging Fea-
lures Of the Situation.
THE EVENTS OF THE WEEK.
Activity and Strength in the Stock Mar
ket-GOld, Money and Bonds.
WALL STREET.

WALL STREET.
SUNDAY, March %, 1878.
The events or the week have been unusually in
teresting and within sixty days-il the present
outlook means anythng-tney promise TO be still
more So While Tor the moment general business
has been retarded by weather-bouna railroads and
canals. there is clearly observable In all the mer
chaudise markets symptoms OF coming improve
ment IL is TO be borne in mind that the business
season has been delayed this year longer than at
any period during the last decade, fact which Is
recognized by merchants in nearly all the depart.
meuts OF trace IN the caation that has Attended
the cumulation OF stocks, and IN their dealings
with man uiaciurers and JooDers. IL is not con.
dirioa. however which is likely 10 continue, for as
long as there are consumers there must be con-
sumption and it's unnatural TO suppose that
during the last year OF commercial drought vast
lnroads have not been made upon the volume OF
stocks on hand.
AFTER PANIC
growth is never suddenly developed, yet for
months. in a moderate way, II has been observable
that con1dence-always sensitive plant-ls
growing ana that capital heretofore idle Is seek
ing investment In new enterprises. The move
nent OF money Is everywhere more active. Ths
is shown. not only in many OF the sIecialties OF
manufacture throughout the country, but IN the
larger interest that attaches to the movement OF
speculative and divide rdp paying securities. There
Is more LIE among the tradesmen OF New Eng
land and no observer can be careless OF the signs
OF increasing prosperity as evlnced by the addi'
tional activity daily witnessed in the streets OF New
YORK. blockade IN Broadway Church, Pearl or
Canal streets. while loaded drays are en- route TO
aepots or steamship wnarves, means business. A
tour among the retail dry goods establishments
hkewlse shows
AN ENCOURAGING SPRING MOVEMENT.
M men n a
IRE factors in the great commercial problem, and
rom their demands spring vast variety OF indus
tries that give employment 10 the muscle ana
machinery OF the world. This is not feature OF
the commercial situation that can De idly ignored.
The agrculturists OF the country are reported,
by the journals which represent their interests as
being in exceptionally strong condition
Wheat has advanced; Dreadstuns are quietly
seekln0 market, and although the prices that
are returned for The same may not be as good as
they expected when their crops were made the
difference is more than onset by the decline OF
prices OF nearly every commodity they are COM
PEELED TO use. In this connection, perhaps the
most important feature OF the hour is
THE PENDING CONTEST
between the great railway corporations. What
these lose the farmer and the merchant gain.
Cheap freights mean active business, and the PEG.
pie Will be wise who avail themselves or the pres
snt opportunity; Tor such destructive antagonism
cannot exist much longer, and within ten or fl
teen days IL would not be surprising II rivalry
Ewes way to sober counsel, ana new and more
profitable tarln Is established aud what Is known
Is the railroad war" passes into oblivion. In
local way the most important events OF the week
are those connected with
THE STOCK MARKET.
Here the excitement has been unusual, II not
unprecedented, for number OF years. The course
OF prices has been so regular in the upward move.
ment and so unexpected, that large number OF
operators who have heretofore been out OF the
market nave again entered 1t, and are
among Its strongest supporters. This condition
Of anairs has been rendered more normal and
healthy from the fact that brokers have received
large outside orders ron remote localities, rang
ing from Montreal to New orleans. 1t is curious,
however, TO note that this class OF buying chiefly
develops itself after market has become strong
and when, perhaps, the bulk OF the profits have
been absorbed by the early operators. subject
OF much discussion on the street ut the present
time Is the new combination which has recently
been made between Union Pacific, Pacific Mail
and the Panama Railroad But the conun-
drum OF the street Is whether the Pacific
Mail Steamship Company and the Panama Rail.
road will come in under the new arrangement Tor
their share OF tie profits promised by the clique,
FIRST named corporations.
Another feature of the market exhibiting itself
Is the manner IN which the
LOWER PRICED SECURITIES
have been taken hold OF sertdttnl and moved up
ward. Erie, St. Paul, WABASH, Hannibal and ST.
Joseph thus became more prominent in late deal
ings and more profitable to their holders. North
western common stock was curlously manpu-
lated, but it was nouceably firm at the close.
Inc largest rise OF the week
marked in Union Pacific, which moved from
BIZ. to 6lH, gain OF ga per cent The next
largest advance was In Pacific Mail, which
from sg4 to 454, gam OF per cent. Erie moved
rom 2e9. to 345., with London prices IN sympathy
At the close Western Union advanced from 75t
TO Tx, Lake shore from 1917 to 75I, Rock Island
from 1857 to 1867, Oalos rom q to g. Hannibal
aud ST. Joseph common from 23A to 20 and pre-
erred from 81 to BY; Wabash declined to 121.,
but subsequently rose to l4x. In the rest OF the
market tue changes ranged from u TO Ia per
cent, with the highest rates established at tue
close. The following are
THE HIGHEST AND LOWEST PRICES OF THE WEEK.
Highest. LoDest.
New York Central and Hudson. lOl. 1904
harlem. ......-.....s.,... '..'...... l1V's I5o
ERE ................-. .s..-'s.'..... o4;s -oS4
Erie erred.........'............ - 20
Lake shore. .........-...'''........ to5. i5I