The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-04-26
FINANCIAL and COMMERCIAL.
The Business Outlcok---Prcs-
poets Unchanged.
A REVIEW OF STOCKS.
The Money!, Gold and Bond
Markets.
WALL STREET. |

During the past week the commercial and IMAM
ial situation has not been disturbed by important
changes. Nor can 1t be said that anything has
occurred TO modify the iaith that is expressed IN
the DEVELOPMENTS or the future and their influence
npon the general trade Of the country Though
pur growth be slow It is not the less certain.
Though may be felt its various processes are
Bti at work: and when, after the lapse OF a few
months, we begin to measure causes and results
It will be found we are gradually moving forward
In the establishment OF larger credit and that
Wall street has simply discounted condition
oil prosperity which is being daily ioreshadowedin
commercial circles. This TACT is exemplihed by an
increase in the volume OF trade, although prices
are on lower basis. The railroads likewise show
considerable activity Notwithstanding the tardy
movement OF ireights, and were it not for
THE DISASTROUS COMPETITION
nc present existing the earnings would doubtless
be more encouraging TO bond and stock holders
than they have been at any time since the panic
There is another element which perhaps has not
been fully considered in this connection. Where
over our great newspapers circulate the laborng
elasses are being educated. and the agitation of
questions involved in the issues between capital
aud industry has brought these issues more than
ever prominen thy into view. On the one hand
there Is a demand for more work, on the other
demand for more compensation, and In the vary
Ing changes that are necessary before values are
again definitely fxed 1t may readily be seen why
the oil and water do not promptly MIX In
THE SPECULATIVE MARKET
The principal event of the week was the advance
N Panama, wnicn, after months OF patient waiting
Aas suddenly come to the front and promises TO be
,ne Of the most interesting securities Of the street.
rhe causes assigned for the advance of this stock
rom 1870 or Whereabouts to 1853 at the close yester-
day are its new combinations with the overland
roads, whereby guarantee OF $40, 900 per month Is
gwen TO Panama for the performance OF the
Pacific Mail service, thus putting the isthmus
railroad in a much stronger condition than ever
and enabling IL TO increase It's dividends from
~ to "a per cent per annum. IL is already
rumored that an extra dividend viii be declared,
and the friends of the road are mentioning very
high prices, but 1t is well enough for small
craft to keep near shore. The next strongest
ytock on the list was Union Pacific, which con-
.inued 20 astonish every one by a further advance
rom Tx to 7sh, the highest price yet made on q
aree business. A reaction occurred at the close
N the market, however, TO 77ls. Kansas Pacihc
IS well as ST. Louis, Kansas City and Northern
preferred, attracted
CONSIDERABLE ATTENTION
by an unexpected rise In the former stock rom
about 10 10 81. and In the latter from the neigh.
borhood OF "a TO 42S, accompanied by rumors OF
Missouri Pacific made an advance during the
week OF about 9 per cent selling up TO 52A and
leaving OF per cent below TINS figure. Atlantic and
Pacific Railroad moved from il in The early part OF
the week TO I6ti on Friday, with slight recession
nc the close. Atlantic and Pacific Telegraph was
not active, but had mercurial rise In tue middle
OF the week TO 2S4 on rumors Ii the progress OF
the Faraday, but subsequently, resumed its steadl-
ness at 26k Il a EOS. Pacific Man opened at
4sk and was quite speculative under the influence
Of various rumofs as to the signing Of the Panama
contract. IL advanced TO 49,, but when the fact
was announced that the expected arrangements
had been actually completed the stock sold stead
uy uown TO 4sal railying subsequently, % Az
and closing at 44lS 44ss The books will probably
close on or before the 9th Of MAY, and IL is init
mated that the parties who desire control OF the
direction have already secured that end. Della
ware and Lackawanna moved up per cent Erie
was neayy during the early part OF the week and
declined In the face OF an otherwise strong
market; but, with IT'S asual ecccntricity,
II grew strong In the late dealings ana advanced
TO aiM, closing at this price. WABASH was strong
and advanced from is 10 1875 under rumors or
accommodation. IL closed at los n 1884, Lake
shore was exceptionally weak opening at 70,
selling up TO 53a and down 10 ~. finally ending
nj 7f& 1is1. Northwest common followed the
same course, recedng on small sales from A = 70
a. closing at Az 421S. western Union was
weak at the opening, but improved TO 49, closing
strong at 777S IS. Hannibal and 81. Joseph de-
clncd from q TO 24s( on unfavorarie rumors con
corning a possible divergence Of lis trade. and
closed az ISL. ohio and Mississippi fell on from
2sl. to 26I5. put subsequently developed more
strength, and ended at 27t6 27s. me range or
prices win be found below