New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-02
TUESDAY. June 1-P. NJ.

The week opens at the Stock Exchange after the
holiday with an entire and sudden reversal OF the
speculation of last week. 1t is perhaps futile to
attempt an explanation of the sudden and extraor-
binary changes which frequently take place in the
course of speculation at the Stock Exchange but in
this particular instance the upward turn is thought
to have been given 70 the market by the early
strength of Union Pacific growing naturally
out of the publication of the favorable decision
by the Court of Claims in the case of the
Company against the Government, and this was
followed by a report which was well circulated
through the street to the effect that the runous rail-
road war had been substantially settled, report
which could not be traced to any trustworthy
source but one which the owners of railroad prop
erty would no doubt very much like to see substan-
tated. The earliest prices of stocks this morning
were generally lower than at the close of the Board
on Saturday but it soon became so apparent that
there large orders in the market for the pur-
chase of nearly every stock upon the list that the
"bears" became frightened and then ensued
what is known as "bear panic" of the first
degree. under the effect of which prices
continued to steadily advance without reaction of
anyconsderable Importance until they had risen from
to SO, per cent above those of the opening. Just
before the close there was decline of about per
cent on the stocks which had previously made the
greatest advance. The movement of the day seems
have taken the street by surprise, as by far the
larger number of operators are believed to have
been prepared to see another kind of panic to-day,
and were consequently very generally short
in anticipation of lower prices Western
Union has been the leader in point of
activity, the transactions in this stock
having aggregated 40, 700 shares at 7ll2071140
7214 a 72Q74ls073l2075 40749i0 76@75 7s0774
ares gain of IA per cent over the final sales OF
Saturday. Lake Shore comes second, with sales OF
1O4, 200 shares at 7s@57a49
6OasG 59s4 06294061a4 a gain of 4Ss per cent.
Union Pacific on the favorable decision of the Court
of Claims, rendering Judgment for the Company
for the sum of 1912, 632 (which, as we understand,
carries with 1t an additional claim of over 100000
which has accrued since the commencement of the
suit became very active and advanced over cent
The sales were 81, 300 shares at 75076075Ss079
77l407S07 71oO79l2079, the final sale having been
IA per cent in advance of that of Saturday last.
North Western was strong on sales of 2O3OO shares
at IS 395s 39ls041040l2, gain of 81 per cent,
with 500 shares of Preferred ut 540537s054l2 u, a
gain of per cent. ST. Paus withsaes of
at 32G35l2 G34l4, makes gain of y per cent and
the Preferred Z per cent on 400 shares at 55O561
700 shares of Ohio and Mississippi were sold at
PISA 23Q221202 1884, making final gain OF
per cent Central and Hudsonis q per cent better
after sales of 600 shares at 1OO20 1929, and Erie
after very quiet day finally in the last hour sym
pathized with the market in gain of & per cent
The sales were $4,000 shares at 1701Sls917's9
173Gls7sG1S24. New-Jersey Central declined l
per cent on sales of 600 shares at
lOs12a 1O7l2. Rock Island sold TO the
extent of 300 shares at 1OOaf01O3. gain of ia
per cent Pacific Mail active and excited. $4,000
shares selling at 33Q36l40357s, a gain of pa per
cent The total reported sales of all stocks aggre-
gate ATS 800 shares, which figures may convey some
idea of the excited and feverish temper in which the
market closed. The opening, highest, lowest and
closing prices of active stocks sold to-day will be
found in the following table: