The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-02-24
4 Furry in StOcks-The Influence OF Con-
gressiOnal Legislation.
GOLD STEADY AT la SIS.
The Bond Market Without
Feature.
MONEY ON CALL UNCHANGED
WALL STREET, |
Tuesday. Feo. % % 2. NJ. I

Tho stock market to-day was the scene OF con-
siderable excitement and IN some instances,
decline was sharply indcated. The leader In
speculation was Pacific Mail, IN which the trans
actions amounted TO 69,o00 shares. The opening
price was "a. the point" was ireey circulated
that the subsidy would certainly be restored, and
on the strength OF what purported TO be private
adyces' the price advanced TO Sc. Those VINO
were ..shortm oil the market hasteued to cover,
and contributed TO the existing hrmness. An hour
later, however dispatches began to pour into the
street stating that the action OF Congress mac
neen adverse, and the subsidy was lost, where
upon the stock began TO decline. and steadily
raceded 10 SIX. The close was made AT 3l*.
STOCK JoBBING OPERATION
was recognized by a few, but not promptly enough
to check depression, in report that an amend
ment to the Tax bill mad been introduced into the
House OF representatives imposing tax OF one
tenth OF one per cent upon all sales OF stocks,
bonds gold, &C. 1t not known during or at
the close OF the market that tins proposition was
merely u burlesque, or that the oil embodyng this
taccuous proposition mad been referred back to
the Committee or the Whole. Hence there was
much disturbance the street In every ONCE,
ana the figures recorded to-day must be measured
py the Tears thus excited. There is no good
reason, however. to believe that Wall street will
be oppressed. Members OF Congress are not a
class OF men who viii enter into contest with
their cnlet interests. The telegraphc tape thai
reports prices within twenty ieer OF the
main entrance OF the two houses OF the national
legislature is too potential In It's suggestions to
induce much opposition TO the work OF business
community. In other words. Wall street is
stronger taan Congress, and congressman recog
niZe the TACT every DAY, by sending their orders 10
buy and sell stocks, according to the political out
LOOK.
THE PRICES.
The stock market opened trong, ana under the
impetus OF an advance upon the closing figures OF
Saturday. the only exceptions being Lake Shore
and WABASH. The former opened at FAX and de.
cined 10 73I. The latter sold at 10 a 11ss 10ss.
Erie changed from 2S1S to 27z. Ohio and Mlssis-
sippi began at 247S, advanced to 25zS, and closed
at 247s. Northwest common advanced from 43ss
to "A Ia but under the influences above mentioned,
receded TO 42s5. The preferred stock sold at Sc a
IS. Union Pacific opened at Az and receded TO
4O1s. Rock island sold at 1o4h 10SA ST. Paul
at 34z, a $50 341s. Western Union opened at
73l1 and receded to I21s.
ADVANCE AND DECLINE.
Compared with the closing prices on Saturday.
the following the changes at the end OF the
market to-day
ApvANcE.-New York Central, u; Delaware and
LacKawanpa. u; Erie. "a (; hannibal and ST. Joseph,
b. f; Atlantlc ana Pacific Telegraph, u.
pEcLINE.-Atlantic and racine preferred, N
ONO Sna anu nj aississi r n; Pacac Mail *
Rock Island, u st. Paul. u; WABASH. y; Union
Pacific, u; Western Union, 70 Northwestern pre-
Tered 20.
The STOCKS without change were Harlem. Pan
anna, Canton, Quicksilver.
THE SALES
to-day amounted to zoe, 700 snares which were
distributed as follows among the active stocEs:-
New York Central aud Hudson 40; Erie, 1900;
Lake shore, $50; Northwestern, le, 200; North
western preferred, LOCO; Rock Island, sOO Pacific
Mall e9a zoo; ST. Paul. 6l0o; st. Paul preferred,
400: ohlos u.s. 7oo Yves Union, A, 700; Wabash,
$500; Union Pacific, 3o,400.
OPENING, HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest