The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-11
The Business Situation and It's Pros
poets Review Of Facts.
EVENTS OF TIE WEEK.
Depression in The Stock Market-The Course Of
Gold, Money, Bonds and Other Securities.
Rag Money Ranges Be
tween So and S5.03.
WALL STREET,
SfsNnAg Ict IN lGTN

WALL STREET,
SUNDAY oct 10 1878
The general movements Of the week. in both com
mercal and financial circles, have not been entirely
satisfactory The chief disturbing elements are, the
failures OF firms here and elsewhere the suspension Of
the Third Avenue Savings Bank the fear that other in
cdents OF similar depressing character may and
want Of confidence that would not be plainly ex-
hibted II the trade Of the country in healthy
condition. True, there encouraging reports OF
improving condition in certain portions Of the West,
and doubtless that the bankers Of the
centres OF section are finding enlarged de-
mands upon them for money; but statements or this
character be taken at their worth They in no
antagonze the fact that have frequently pre-
sented and have prudently cndeavorcd to impress
the thoughtful mind that values gradually recedng
and there is scarcely any commodity which does not
show lower range Of prices than at any previous
period Of the year. And this is just what desirable.
Fancy values longer the order Of the day.
The disposition Of Wall is TO It's securi
ties by real figures drop the plumb line through the
that heretofore constituted quoted value Of
stocks and strike the bottom that represents the real
worth. The people OF the country do possess tho
money owned by them two years ago and their pur-
chases crcumscrbed by the extent OF their purse
There is not savings any other bank not an in
surance company any other nducary institution
that Is rich to-day it in 1870 or 1871 With
the exception OF government securities their assets
have declined value And their vaults full Of
bonds which, taken during period Of galopng con
sumption, are suffering all the misfortunes Of a
financial marasmus, Under these circumstances II is
a matter Of surprise that In the whrl Of the
maelstrom OF liquidation and there a prevailing ina
biity TO the obligations Of paper contracted and
repeatedly extended give relief II business were
not dull if the country stirred BY political agi-
tators teaching false currency doctrines and unsetng
the judgment Of business men, II in short trade could
ow through legitimate channels at this season Of
the year without stirring up
DEBRIS PAST,
the season might be hopeful one, and the prospects
bright for a recovery that would universal
valesccnce. But unfortunately these conditions do not
exist The capitalist clutches what he has saved
and the working merchant struggles TO preserve with
the banks whatever left him old time credit 1t
peasure speak despondenty Of the future but plain
truth will best subserve the interests Of the country.
STOCK MARKET
The Stock market during the week subject 70
extraordinary influences and attended BY anything
firm hopeful feeling. The leader Of the decline
Missouri Pacific which receded from SO to IS with
rally Of only per cent at the close It IS not i'm
probable that the company VIII pass its dividend the
10Th inst although efforts TO be employed to gal
vanize it into fresh life and may be successful The
retcent in the expression Of their faith in the
future of the corporation but within three days
they have been exceedingly cautious in repeating the
assertion that the would be undoubtedly paid
according TO announcement meeting Of the stock
holders is called for Tuesday next the directors having
decided the bondhoders OF Missouri Pacific
to them in council when the or the banks
in calling ii the loans with which the Atlantic and
Pacific expected to pay said dividends viii DO stated
The directors Of the Atlantic and Pacific viii be guided
by the suggestions Of tho bondhoders OF the Missouri
Pacdc Whether the credit OF the company destroyed
remains to be seen Union Pacific participated in the
prevailing weakness and fell OF from 65S to 61 St.
Paul common fell from s47s to 2oS, but ended at
BIZ. The preferred stock receded from 63sS to 5sK
and closed at 61A Delaware and Lackawanna declined
from 40 rs but assured that there is MOTH
Ing in the affairs Of the company which justhes the at
tack the contrary, that the net earnings OF the
company, after paying all leases and obligations OF
every kind, amount during the eight months ending
September TO IL O510O per cent s25, 6l7 600 the
share capital OF the company The bonded debt Of the
Delaware, Lackawanna and Western proper is
s., JOB 600 The cash is in bank pay the dividend
due October 90
OTHER DECLINES.
Northwest common declined from 3ok 70 33%; pre-
ferred, from 53k to 40; Michigan Central from Dix
TO 53s{, and New Jersey Central, los to e91S.
Lake shore declined rom 54sS to 517S Rock Island
from 1919 TO 1919 Ptsburg, from 81 to $50; Hanni-
bal and St Joseph, from 70 70 l55s preferred from p
to 20K; 0hios from 1879 to IS; Panama from 132 to
I2s; Western Union from 56JS 70 1875; Pacific Mall
from 36sS 349E, and Atlantic and Pacific Telegraph
from 1875 to 176 The rally 10 these the close
u to per cent
PACIFIC MAIL
In reference Pacific Ma there have been consider
able surmise and much publication Of agures cor
respondent Of the HERALD, seeking light asks the
following questions, which, properly answered. would
set the controversy at rest
Would 1t not have been easy have given the re-
ceipts and expenses for the period from March 70 July
I as those for the months Of July ana August
during which months il Is generally understood the
China tea business Is at its heght How the
penses Of these two months made upY What proper.
tion OF years premium for lnsuranccNas allotted to
them What proportion Of the general expenses Tor
inevitable wear and tear incidental TO al shipping
the receipts expenses Of the respective ships
vice at this particular timer The Vice President and
management Of this company may assured that the
public have grown tired Of gtterng generalites and
promises for the future They want the truth, the
whole truth and nothing but the truth
HIGHEST AND LOWEST PRICES.
The following table shows the extreme aucsuations
for the week ID the leading shares
Highest Lotcest
WI