The New York herald., 1875-09-19
FINANCIAL AND COMMERCIAL.
Stocks Generally Lower, with the Exception Of
Erie Which Advances
GOLD ll6 IA A III A l16 3-4.
The Bank Statement-A Further Loss in the
Total Reserye-MOney on Call Fluctuat-
ing, but Easy at the Close
Gossip on the Street
WALL STREET, |
SATURDAY, Sept 1876 7. n. !


The market IN stocks to-day feverish, the under
tone weak and doubtful Operators are by no means
satisfied with the prospective condition, and even
sharp and unexpected advance in Erie failed TO com
municate its sympathy to other prices. The 1uctua-
tions considerable, and at times the outlook
more dscouraging to those who the long side
than at the close Concerning all of the nondiyidend
paying securities there is a feeling that sooner
later they must succumb, not TO merely artificial
pressure but to normal influences which quietly at
work throughout the country. On the other hand
dividend paying stocks like good bonds continue be
favorites, and Notwithstanding the motives that may
operate for day or a week are fairly sustained with
confidence that does not falter Exceptionally,
Western Union may Decline it did to-day from 10
at the opening to 77h, but there few
who doubt that if its finances be managed
in the future they have been managed in the past
the stock at present prices, paying, as does two per
cent quarterly a little than per cent per
annum on its market price, is ntrinsicay profit
able.
FEATURE MARKET
to-day Erie of which some 80 900 shares changed
hands Sir Edward Watkn is supposed to have reached
his destination and the advance madeJs ascribed to his
presence in London the possible favorable report by
him to his brother bond and stockholders. We note that
there gam the other side of Z per cent but even
this gain leaves market proporuonaely higher
than it usually is under less speculative conditions
Judging from the gossip Of the street the expectation
is that further advance will be made next week, yet
in the absence Of report by the Receiver and the
known efforts of the English spectators to create
bull market, it may be well enough v wait awhile
before giving credence to the idea that
Erie is henceforth unquestionable purchase.
The report concerning pooling process between
Lake Shore, Michigan Central and Fort Wayne, noticed
yesterday, is without foundation. Pacific Mail
moderately firm for while, but later the statement
well distributed that the steamship City of San
Francisco only permitted to sail the suferance
of Mr.. John Roach her builder, which resulted in
weakness at the close Of the market Among the
incidents of the day most calculated to disturb the gold
market If it had been made known before three O'Clock
is the report which we have from well known banker
that the English steamers during the next fortnight
will bring sl5o, 600 and that is likely to follow.
Dsquetng runors circulated after the close of the
market concerning trouble in insurance company,
the solcitous inquiry fails warrant the pre-
sentauon of any details The restless feeling Of Wall
street accounted for by the foregoing intimations
STOCKS TO-DAY
folows:--Erie opened at 1914, sold up to 201S
near the close and ended at 2O7S. Lake Shore Guc-
tuated between 524 53A, the closing price being
5356 Northwest common sold at 3s2l So, with final
prices 3s% do preferred ended at 531s Rock
Island was without change Western Union sold at 10
a77H, which were respectively the opening and clos
ing prices Speculation in this stock controlled by
rumors in connection with the election. Pacific Mail
sold at 366 a 36}i 3524 357S. St Paul common
steady 34S 34A; do preferred ended at 627S. At
lantic and Pacific Telegraph sold at 20 20. Union
Pacific Tex dividend sold at 7O15 697S. Panama
quoted on small transactions at 133 1872; bidding
price at the close 13I Changes in other securities
were unmportant
OPENING, HIGHEST LOWEST
The following table shows the opening, highest and
lowest prices of the day -