The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-14
FINANCIAL AND COMMERCIAL.
The Events Of the Week-Gos-
sip About Stocks.
THE FAILURES IN LONDON
Cur Gold and Money Narkeis--A Sharp De-
cline in Many Securities.
WALL STREET.

SUNDAY June -, 1875.
The events OF Wall street during the past
week owe much OF their interest 10 the fact that
they were more than usually perplexing. The
rapid Improvement oil LAKE Shore after It's recent
severe hammering; the forced decline or St. Paul
ana Northwest; the doubts expressed with refer
ence to western Union; the sudden reaction of
Union Pacific: these were among the incidents
which, by reason OF their diversity and effect un-
settled judgment and communicated 10 the mar
ket decidedly feverish tone. There is q gene
rally prevalent feeling however, that many
stocks have reached such low prices that check
to the downward tendency may occur at any
time. Permanent investors are already being at
tracted, and more securities than many persons
suppose are being paid TOR and locked up to
await the advance that Is believed 10 be tneytta-
BILE. That the railway war has had much TO do
with the depressing Influences which have at
tended speculation there is no doubt, and the an
nouncement is peculiarly welcome that WITHIN
few days, provided
THE PENDING NEGOTIATIONS
between the representatives or the Baltimore and
Ohio and the Pennsylvania ailroads are satisfac-
tory to both parties the strife VIII cease. The
effect will doubtless be felt Immediately, Tor The
ability TO resume fair and remunerative rates
without dangerous competition VIII necessarily
enhance the price OF oil .ocSs concerned, increase
the earning power or the several lines and encour
age the hopes OF their friends. Among leading
railroad men the impression Is that during the
wear q fair business viii be done on the Western
roads, and that the system or economy that has
been enforced by hard times viii enable them 10
make o reasonably favorable exhibit The ST.
Paul report to December 81, 1874, notwithstand-
Ing the serious interference granger legislation,
showed exceptionally large net earnings. The
same may be said OF Rock Island, which, on the
3lst OF March asst, showed a surplus for the year
OF 81 1O9 500 against $Si3,3S7 in 1874 The CHI
cago and Northwestern report to May 81 IS now
expected with much interest," ana the manner IN
which both It's common and preferred stock has
lately been pounded is suggestive TO not few OF
purpose to buy the same at
THE LOWEST POSSIBLE PRICES
that can by hook crook be made. day,
for instance, a rumor was circulated that the
directors had determined TO issue 1000 900 con-
vertibe bonds. 1t without TRUTH Another
story equally false, was TO the effect that the ST.
Paul Company intended to issue new stock. II
such statements are a dernfer resort they only
serve to illustrate TO the cooler headed observers
the desperate character OF q struggle which seems
TO be approaching It's end. A meeting OF the
Pacific Mail directors was held yesterday TO take
into consideration the manner in which 81 0o0O coo,
more or less, 10 be raised for the payment Of
the company's debts The subject was referred
bered that $500, 600 are due 10 the Panama Rail
road on the 2stn OF August, on which per cent
interest, In gold, is now being paid. committee
or two, OF whom Mr. RUFUS Hatch is one, Was ap-
pointed to settle the differences with the latter
company and determine on what basis
FREIGHT AND PASSENGERS
shall be hereafter carried. We are also informed
that the directors were recently obliged TO meke
up a purse between them 70 pay 100000 note
that became due. Notwithstanding these facts,
however, il is claimed that the outlook OF the
company for the year Is not discouraging Next
70 Lake shore, which took the lead IN point Of
activity, western Union Telegraph was most con-
sptcuous. President orion Is expected tomorrow
from Liverpool, and de ailed report OF the ope-
,TasIons OF the company Is awaited with great In
terest. There are manV surmises as co the effect
or the reduction or tolls upon the earnings for the
next six months, and OF a still further reduction
that may be made necessary by competition. Dut
Il Is given in various quarters that before the
end or the year certain important combinations
win be made tnat Will carry the price OF tie stock
among tue nineties. This may account for the
enort 60 depress the figures nov ana the quiet
buying OF those VINO have faitn IN the future.
THE STOCK MARKET.
The following figures will explain In more de-
tailed manner the course OF prices NORTH west
common declined per cent; the preferred Stock,
OK; st. Paul common, ~; preferred, 81 per cent.
Nlcnigan Central fell OF from 6s TO "a and re
covered 10 CO. Lake Shore declined nom 81 70
COY. advanced to 90 and closed at 81, against 62S
at the close last Saturday. Rock Island fell from
lo3k TO IOlx and closed At q slight recovery.
Union Pacific fell OF from ~ 10 CO.'S and later rose
70 TAX. New York Central fell on TO lo2H, rose TO
Io4K and finally sold at l0l. western Union de-
clIned from rex to 73A, recovered to 1854 and
closed at TAN. PACING Mail ranged from 3SH 70
az and closed at 32A. Ohio and Mississippi de-
clined from 23K to AK, rose 20 241< aud finally
.recsded 10 23K. Atlantic and Pacific Telegraph
advanced from 25l< to 20 on the completion OF The
new direct cable, but later yielded 70 23H "a.
Erie dropped from 1s1I to 1914 and sold at 1851 on
ths last sales. Investment shares were nrmer
and advanced u to 1k per cent Among express
stocks Wells, Fargo Co. broke from 70 TO IS, ana
United states from as TO 42k, but the closing quo
lations were SOY and a. respectively.
HIGHEST AND LOWEST PRICES or THE WEEK.
me follow wing table SHOWS tue extreme nuOtua-
An no leading