The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-18
FINANCIAL AND COMMERCIAL.
The Prevailing Feeling in
Business Circles.
CONDITION OF TRADE.
The Events of the Week in the Stock, Gold
and Money Markets.
WALL STREET,


The most noteworthy features OF the past week
were the Presidents Message and the decline Of
the rate Of discount Of the Bank Of ENGLAND, both
d which incidents were not without temporary
ef1ect upon certain departments OF the Wan street
market. The Recommendations Of the Executive
with reference to the method OF resuming
specie payments are not, however, sufnciently
understood, and admit OF such a variety OF
Interpretation as to impair their force.
Trade reports. in their reviews OF the sttua-
ton, show dun general business, distrust and
uncertainty. Severe weather has materially re-
srrtcted transportation, and the eject has been
equally felt throughout the wholesale and shipping
community. In consequence OF decline In the
export demand large stocks Of domestic produce
are represented to have accumulated, and the
market has been pervaded BY heavy ana de.
pressed tone.
IN THE STOCK MARKET,
which, although subject to purely speculative
causes, similar condition OF feverishness and un-
rest prevails, and the past week has wit
messed unusual fluctuations Lower prices
were established in stocks, which have
recently been regarded as capable OF re-
slsttng ordinary attack, ana instead OF "Jan-
nary rise," 30 hopefully expected BY both local
and outside operators, there has been what the
brokers facetously call . January thaw." The
Influences at work were various. Some OF them
emanated from Congress and concerned posi-.
BILE change In telegraphlc tarns; some from the
West, and referred unfavoraole railroad legisa-
ton; some from the law courts, and whispered OF
an injunction against Lake Shore, ana finally
some from corporations themselves, like Wabash
and Western Union. The greatest decline OF the
week was marked IN the stock last named, which
fell on from TEX to FOX, with recovery. however,
toward the close to TAX TAX. The lowest point
was reached on the announcement OF the resigna-
lion Of General Thomas 7. Eckert as one OF the
superintendents OF the company and his choice as
The President Of the Atlantic and Pacific Tee.
graph Company. The stock OF the latter thereupon
advanced to 2oH from 23x. or about per cent
since Monday. The close, however, was made at
q. Northwest, common, declined az per cent
from AK, but ended at 44X. The extremes Of the
preferred stock were Elk and cox. the close
being at cox. Lake Shore fell on from 70 to 73k,
ending at TAX. Erie sold at 80 and 2sx, but
closed at 90 Wabash sold at Tx 18T and closed
1t Tx; Rock Island at 103K l02K, closing at
lo2x; ST. Paul common, at ssX . 81, closing at
s7x, the preferred stock at b9X 6SK 6sX. Pacific
Mail was comparatively steady for this stock &C
b5X 34X, closing at 34X. c., G. and L G. VI
Drated between and oX, ending at o. Hannibal
and st. Joseph dropped, 1t was said, in sympathy
with Wabash, from 20 to FAX and closed at Is
ONO and Mississippi receded from SIX to soX,
ending at 30X. The other changes win be found
In the following table Of
HIGHEST AND LOWEST PRICES or THE WEEK.