New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-23

With the exception of q temporary advance 70 o0f
Der cent for call loans, the money market has been
as heretofore in abundant supply at li2 10 Z'2 on
call and to 5la per cent for frstclass mercantile
paper.
The stock speculation during the week has been
exceedingly dull but with some irregularity, MIN
tone has generally pervaded the market. resulting
in prices at the close ranging from = 10 81 per cent
higher than on Saturday last. IL has frequently
been remarked that Wall-st. ignores values, ana IL
has this week furnished two noted examples OF the
truth of the remark applied TO at least monetary
specnaton. although We fancy that IN the end
values must rule a. they have in Wabash. Enc, ana
other stocks which once the favortes OF speca
laton at prices much higher than the present. O'l
several occasions THE TRIBUNE has pointed out
the apparent revolution which was progressing
in n reconstruction Of the values OF securi-
ties showing that while the stocks when
eould be shown to represent property capable OF
fairly earning dividends might rise to higher values
than ever before and be sought after investments
owing to the great supcrabundance Of unemployed
capital the stocks of such corporations az haa
been loaded down with debts, which would render
il difficult for them TO even paw their intefest
charges must inevitably find lower range
of valne. Notwithstanding this sef-evi"eht
fact, the stocks of Pacific Aml anu
Lake Shore Railway during the past week
have fully sympatnized in the noted improvement IN
stocks concerning which there are no reasonabie
doubts Of their returning regular DIVIDENDS; anu
this in the face Of untoward bad news oil acciuehs
and light earnings. Pacific Mall. after seIiing Gown
to 37os finally closes at 80 an advance OF % per
cent over last Saturday Notwithstanding some pre-
tended official denas, we still believe that me aoc
dent ~ the Company's new $500 ton steamer City
Ter III
panys finances than it is admitted to be, and that
thc cost of her repairs will exceed the sum
named in The TRIBUNE ,$2OO0c0l, IN addition
to the loss of time and earnings. When she
was surveyed in Hong Kong previous to
her last sailing her condition suc that the au-
thorties would not permit he? TO carry any steerase
passengers, and she accordingly sailed with Zone
after having expended $1,000 III repairs there,
deemed actually necessary TO permit ner return 10
San Francisco. The open acknowledgment by the
COmpanys officers that the damage was caused ny
bad stOwage OF her cargo on the voyage from New
York TO San Francisco would seem to aicct Tie
question of any liability on the part of the builder
and AZ we are crediby informed, II ~ rot true tha'
NJ. ROach's foreman has gone to ian FRANCISCO III
relation to the matter OF repairs. Lake Shore re-
cords III advance of | per cent, closing at oI'o'
in the face of earnings in July over 100000
than the average monthly earnings for the
first six months OF this year, which showed an
actual deficit in net earnings from which To pay
interest leases dues TO the sinking fund and diVI-
deud on the old Michigan Southern guaranteed
stock. Western Union, with less activity and ex-
element than heretofore. has remained firm, selling
a. high as S43i down TO s334, and closing at S4os.
an advance for the week Of Z per cent. Of THIS
stock the belief in the Companys ability to earn ana
pay regular quarterly dividends OF = per cent Is
daily gaining ground, and this probably has more
influence in maintaining and advancing its price
than the talk OF possible monopoly. Rock
Island HI; shown more tnan usual speculative spirit
in an advance from los 20 1921 or some Talk OF
extra dividends out of surplus but the price quickly
returned 20 1919 1Cse I0s illustrating what has
heretofore been the experience of this stock mat
when extra dividends were promised some one had
some stock for sale. There can lie no reasonable
doubt but that this stock may be recovered az a
regular : per cent security, and on that basis has
its value but al present any talk Of anything be-
yond that it probably will be safe 20 regard with
suspicion. The North Western AID ~. Paul
stocks lave been strong and have advanced.
particularly the preferred, which latter close
az an advance of pa and go respect
lively, owing TO an expected improvement
i'll the movement Of the crops. Union Pacific has
been very queC rs to the amount Of business done
and steady in price, holders seemingly beng very
confident OF receiving their regular dividends. The
net change in price from last week is an advance Of
l. per cent The total transactions of the week have
been $50, 400 shares, and for fuller IN
formation of the fluctuations and business
done in each stock during the week. at
tention is, invited 10 the subloined table. which
shows the extreme fluctuations in United states
bonds the leading railway and miscellaneous shares,
as well as gold and the closing quotations of each
at the dates Aforementioned also the number OF
shares of each leading stock sOld