The New York herald., 1875-10-09
Stocks Generally Lower-The Sit
uation Discouraging.
RAG MONEY WORTH 1884
Gold Opened at III and Closed at ll6 l-2-
Money on Call Firmer Government and
Railway Bonds in Fair Demand.
WALL STREET,
A. a . n NJ

wall street broker to-day apy described the exist
ing situation when he said:-"This market is poor be-
cause controlled almost entirely by the class which
represent A few months ago could live moderately
wel-not luxurously it is true, during the years
Immediately succeeding the war-but we could
meet the expenses both of Offices and
homes We had outside following and
the commissions received were fair and
encouraging compensation Now however, the cir
cumstances changed. Where there were formerly
twenty customers broker there twenty
brokers to ono customer. What is the consequence
In order to make both ends meet compelled to
trade among ourselves and every decline brings out
long stock Millions awaiting an oppor-
tunty to realize. Capital is every hour grow
ing sensitive and no one can tell where
the declining tendency will stop Favore securities
showing unexpected weakness In order to pay
dividends and maintain reputation directors are bor
rowing money which they claim to have earned.
Promises are mere bubbles Falsehood and msrepre-
senation have taken the place Of honor and repeated
deception has driven from the street It's
best friends Disrust has substituted for con-
adence, and there is not clement of strength to
induce renewal of speculation except with view to
lower than prevailing prices. Where will it all
end9 No man can tell We are in an anomalous posi-
lion The present development Of weakness is unpre
sedented and unexpected The currency question,
lntil settled is "a thorn in the flesh" Governor
Biger tells that according to his advices.
ohio will give republican majority, and if true, this
will send gold and other securities down. Pennsylvania
will follow, New York may be counted in the
category What are you to expect2 No, sir I'm not
bull" While there are several
SALIENT FACTS
embodied in the foregoing sententous utterances Of
broker should not lose sight of possibilities. We
about entering upon fall trade. The great crops
Df the summer ready for market BY and by
Ice will close the water lines and give additional
work to the railways Augmented receipts will natu-
aly follow and these being published to tho specula-
hve community will a speculative advance in
various stocks There may also be enlarged employ
uent of capital in stimulating idle enter
prises. Crops will be moved productive in
austries supported, and national energy be
encouraged free circulation Of currency thus occa
stoned must exert only healthfu influence Whether
the counteracting influences incident to period of
contraction successfully antagonze law OF growth
Is O question to be determined.
THE STOCK MARKET.
The principal transactions in Lake Shore,
Northwest, Western Union and Pacific Mail New York
Central sold at lo2< 1o24 1ol u and ended 1o2
Erie was steady at 162< 1917 Lake Shore opened at
"a, went off to 53H, and closed at the
latter price. Wabash was nrmer at 6k
NOrtnWeSL common cropped from ooM TO
SEX, but the close called for 81 The preferred stock
ended at 81 \. st. Paul common sold at 33Z "a a
S3k; do preferred at the close, 6l2t Ohio and Mis-
sssipp declined from 16 to 15h. New Jersey Central
opened 100 and receded 20 90, but closed
at 10Oh Michigan Central was quoted at
the close at 641S Union Pacific advanced
from 617S to 63a< and closed 623S Atlantic and Pa
chc preferred dull at 65S The directors Of this
company met to-day, but adjourned until Tuesday next
when they will hold a conference with the leading
stockholders OF the Missouri Pacific Pacific Mail sold
1t 35k and closed at 35T. Delaware and Iackawanna
declined from 1l7I4 to lis. Missouri Pacific went of
from 236 to 20
SALES o.DAY.
The transactions at the Stock Exchange to-day ag-
gregated 159 900 shares which, among active stocks
were distributed as follows New York Central and
Hudson 725 Erie 400; Lake Shore 81 400; Clevc-
land and Pittsburg $50; Northwestern, 81, 900; do.
preferred, 1850; Rock Island, 1lo5; Pacific Mail,
is,2Oo St. Paul, 2,4OO do. preferred, 1900; ohos,
t,4o0; Western Union 37,500; Wabash, 1900; Union
Pacific, 1865; c., c. and c. 800; Panama 100; Han
nibal and ST. Joseph 1900; Delaware Lackawanna and
Western, $3.50; New Jersey Central $780, Michigan,
1000; Missouri Pacific Is, 230
HIGHEST AND LOWEST PRICES
The following table shows the opening, highest and
lowest prices of the day
Opening Highest Loscest
New York Central. ....... 1925 1924 101A
Harlem. III l3l 131
Erie. 16z 16X 16X
Lake Shore... % o4A 63h
akaph