The New York herald., 1875-10-26
FINANCIAL AND COMMERCIAL.
The Stock Market Moderately Active
and Prices Generally Firm.
GOLD Ia La A 115 1-8.
Rag Currency Worth S6.S6-MOney on Call
Loans 1-2 and Per Cent-GOvern-
ment and Railway Bonds Steady.
WALL STREET, |

WALL STREET, |
MONDAY Oct 25-G T. NJ. (
The stock market to day not directly suggestive
Of higher prices in the near future. The majority Of
recent "bears' understood to have covered and
the "bus' are awaiting the patronage Of the conhd-
ing public If the latter do not put in appearance
the market can only be sustained by continuation or
the match orders' that have recently been de-
ceitful If there any general principle underlying
the recent rise should be quick 10 present the
same for there have been few periods in the financial
history OF the country when encouraging words were
necessary than now; but unfortunately in deal
ing with facts have to record condition that has
been created and manipulated simply by few in
dividuals-a condition that lacks substance or dur
ability that is unsustained and Kaleidoscope; that do
pends on the guesses of the moment while stand
around the elegraphic stock indicators that has been
manufactured to take money OF the pockets Of the
bcars and to invite the innocent and unsuspectng
outsiders to in and be phlebotomized 1t doubt
less serves the purpose OF
FINANCIAL DERwsHEs
who dance from pool 10 pool in the Stock Exchange,
obedenty bidding stocks up from right to left without
regard values here and there indications of
favorable present prospective change They point
20 crops, but where is tho old time market2 They
count packages Of goods sold by factors and mer
chants, but what do these but smaller and
growth, but nearly 100 600 emigrants have
Europe since troubles began each taking only
money, but the muscle that makes the wealth Of
tion They quote the condition or railroads. but
how many in default; how few dare make
hib of earnings liabilities; how many If the mask
were torn of even accidentally, the case of
Missouri Pacific, would not show dangling emblem of
rottennessP In the language Of Attorney General
Pierrepont:-''when you look about and that
have had peace for ten years. when have had album
dant harvests, public health, why don't every ask
what is the matter2 How happens it that these
CO., 900 of people, intelligent brave, energetic
tied down and paralyzed in their efforts with all the
of regeneration spread from the Atlantic the
Pacific ocean," Wall street send to the great
public satisfactory these questions by bull
Ing two three "fancyn securities ten per cent The
people have opened their eyes, The country getting
ready to apply the old Of values Investors
want truth and less subterfuge and until they get
from authoritative repeat, 'Stand from
under |"
THE COURSE PRICES TO-DAY
folows:-Lake Shore led the market with sales
Of about g. COO shares 1t is SAID that fully 900 shares
have been sold for realization since the stock touched
90 The opening price 60, the highest 614 the
lowest 597s and the close COS. Next in point Of
sivty was Pacific Mail of which some 61 900 shares
changed hands at prices ranging from 404 to Al with
1nal sales at 405S. Western Union comparatively
strong advance from II to rs and an ending at
Tx TIA Erie sold at 16x 1917 a 173< closing at
Tx. Wabash advanced to 65 Northwest common
opened at 37, sold up to 3S and closed at SO. The
preferred stock ended at 71A after sales at 81 ST.
Paul common sold at 341S after sales at 35A. Tho
preferred ended at SO, Union Pacific declined from
ssA to co.,. The question concerning tho interest
Indebtedness OF the company to the general govern
m nm he
Court II IS said to be suit involving larger
amount in it's results than any presented TO
court. A sharp advance of per cent since Saturday
look place in District of Columbia 65 bonds, the
ppinion of Attorney General Perrepont sustaining the
pledge of the government pay the interest and prin
ripa of the The amount isstod is little
than $40, ,000 The opinion will be found else
where. Charles o'Conor. concurrng, says that Tho
obligation of the United this ex
pct that the principal and interest OF the bonds shall be
punctually paid. The words employed admit or
other Interpretation BY naming the method in which
the general government intends TO perform its
Dbgatons-that s through taxation the District Of
Columbia-no limitation imposed on the absolute
and unqualified character of the obligation itself 1t is
matter of little whether in the language Of
special draughtsman, the liability Of the United States
shall be called primary obligation guarantee
These decisions will be regarded with special interest
by the various savings banks and other institutions
who have been awaiting the before investing in
the bonds
The Committee OF Missouri Pacific Stockholders win
meet to at noon, when their report will be sub
mitted. 1t was reported this afternoon that their
statement would show deficit OF about 5000, 900 for
taxes interest funded debt and rentals to February
l. 1876. The price advanced from 9h TO 1l and closed
Alto
Hannibal and St Joseph advanced from 10 to 2os<
AL The rise is reported to be based negotiations
concerning lands. The preferred stock closed at "a
Other changes less important and will be found
below