The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-12
FINANCIAL And COMMERCIAL.
Another Blue Day in Wall Street
Stocks Depressed.
GOLD ll5 l-2---MONEY EASY
Reports Encouraging from Europe American
Securities Firmer Abroad
WALL STREET,

TUESDAY, May 1l-6 M.
The stock market to-day was again under the
hammer. and prices were generally kept down
until toward the close. reaction then followed,
but not TO a degree that invited much confidence.
Erie continues TO be the weak point. and, sym
pathetically. appears TO have extended It's infiu-
ence to every other stock on the market, whether
good or bad 1t may go even lower, but there is
no reason why 1t shall drag with IL securities that
have heretofore been regarded worthy OF conn.,
dence and that are to-day upheld by their
friends with more than usual faith. IL would be
improper in this place TO cite Illustrations but
a brief survey or The situation viii show
that the railway men OF the country
are everywhere engaged In adapting business
10 the new order OF things Reorganization is
taking place. Consolidation, amendment, change,
a recognition oil the necessities OF the people,
greater economy and larger earDings-these con-
stltute portion OF the elements that are to be
watched in the near future as among It's most
POTENTIAL INFLUENCES.
II more than single-nanded power were at work
at the present moment, or II TO natural causes
could be traced the existing depression, IL mlgng
not be dtf1cut TO foretell events; but as the
market ranges TO-DAY there is nothing TO justify
feeling OF gloom or expectations OF general
disaster. As above Indicated, the close OF the
market was stronger than the opening. Allan
tic and Pacific Telegraph, which began
at 2SZ and sold down to 234 advanced
to 25k on information that the steamer
Faraday mad grappled the new cable, and Was
successfully approaching our coast. Western
Union opened at 793s and reoeded to 1874, closing
at 7saS. Pacific Mail, another bone OF contention
commenced at 4s, declined to AK and ended at
AIS. Panama opened at 1853 and sold at l52, clos
ing at 1855. New York Central ended at 1865,
after selling at 100. Lake Shore went OF to 7o@
and closed at 71k. ST. Paul common was firm,
ending at 37k. Northwest common closed at Al u
tue opening price. The preferred sold at 54k.
Ohio and Mississippi sold from 26k to 25H, but
closed at 26A. Sc. Louis ana Kansas preferred
ended at 4oa 40. Delaware and Lackawanna
was steady. The same may be said ofNew Jersey
Central and Wabash. The most important
changes win be found below
ADVANCE AND DECLINE.
The changes OF the last twenty-four hours are as
follows:-
ApvANcE.-Atlantic and Pacific Telegraph IL !;
Erie, X; Hannibal and st. Joseph, 4; Harlem. 4 !;
Lake Shore. r.: Northwestern, "a ohio and Mis-
siSsippi x; Panama, .; ST. Paul, X; wabash, x !;
DEcLiNE.@SeW York Central u; G., @. ana T.
G., X; Delaware and Lackswanna, x; Pacific
and Kansas Northern, l; gold, =.
The stocks that remained steady were Atlantic
and Pacnc preferred, Quicksilver, Rock Island
ST. Paul preferred, Kansas Pacific, Missouri Pacific
and District OF Columbia bonds.
THE SALES OF THE DAY
NAV be distributed among active stocks as fol-
lows:-New York Central ana Hudson, 800 I;
Erie 50, 500; Lake Shore, ls,6OO Northw estern,
10. 500; do, preferred, 200; Rock Island, $500;
Pacific MAIL IS, 300; st. Paul, 700; do PREFERRED
3Oo ohios 2, 500; western Union. q. 600: Wabash,
400 Union Pacific $500; O., c. and !. c., 100
Panama, /, 100.
OPENING, HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest
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