The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-23
The Bank Statement Still Encouraging to Spoon
lation-A Gain in the Legal Reserve.
GOLD FIRM AT 116 IA A ll6 Ia

WALL STREET. | y
SATURDAY, May I'd p. Al. n
The speculation in stocks was again attende6
by the exctement that waits upon the uncer-
tainty which may at any time be caused by the
introd uction OF new element The latter today
showed It's influence by forcing the lending rates
OF Erie to x per cent and thereby compelling O
sharp covering process on the part OF the weakek
holders. Later these lending rates were reduced
to "nat,n and tne price OF the stock consequently
receded from 24h to 22z, which was the closing
figure. II must be confessed that the end OF the
week affords few symptoms or an encouraging
character. the prevalent feeling is bearish. There
is no good news TO communicate. The grasshoBs
per plague ana tine m ysterlous silence OF rallway
ofrciais concerning their earnings or purposesd
the doubt that surrounds the great railroad con-
test-tnese things are exertlng depressing enect.
and 1t Is not necessary TO 60 further In eearch
or our explanation why stocks have 30 suddenly
dropped and speculation become interesting only
TO those who are watching their profits on the
short side OF the market. II would be pleasant Ia
record better ncdents, to recognize an Increase
in trade, to take counsel from tho weekly BANK
statement, and to discover from the larger aad
more enterpriang use OF money possible activity
that mar in the near future communicate It's force
to all departments or commerce; but Il Is almosx
Idle 70 Investigate in this direction. The country
il standing still, capital Ii waiting, and PRODUCE
tive energies are held In leash. But good time
Is undoubtedly coming, and the patient men "wno
bear the cross to-day may wear the crown to-mor-
row.
THE MARKET.
Erie was the leaaer The sales amounted to
$4,000 shares. The opening price was Pax, tho
HIGHEST PAX, tine lowest and close FIX. PacinG
Mail was next most active, beginning at 81 AMI
recedIng to 35K. Panama. with which 1t is 50
closely Identified, sold at l40H l40A. Lake
SHORE continues to be an object OF much interest,
and the fluctuations to-day ranged between Elk
a SO. Western Union sold at 76X 76T q T6h q
s6<. Union Pacific fell on from 1854 to "a, but re-
covered with its usual promptness to 75h. New
York Central ended &C 104. Wabash wax
quoted at 90 90 %. St Paul.
under the pressure OF manipulation, has
dropped or to 32H q 32X. Northwestern
common declined from ssh TO S7x; the preferred
stock sold from 81 TO 52S<. Ohio and Mississippi
was more than usually active, and fell OF from
22% TO 21X, but recovered to 22h. Rock Island
sold at 100 1927 1o2A. Hannibal and Sc. Jo-
seph ended at 81. other quotations will be found
elsewhere, and are not OF an important character.
THE SALES TODAY
am oun ted 242 600 shares which were distrfb-
uted among active stocks as folio ws:-NeW York
Central and Hudson. 275; Erie, $4,000; Lake
Shore "A, 900; Cleveland and PittsDurg, 2OOs
Northwestern, $500 do. preferred, zoo; Rock
Island, 334; Pacific Mai, $1,000; 81. Paul, 2,2O0t
do. preferred, 800; ohio, 6,4o0; Western Union,
z 500; WABASH, 500; Union Pacific, o,2O0; @, G.
and L q, 100; Panama. $50.
OPENING, HIGHEST AND LOWEST PRICES TO-DAY.
The following table shows the opening, highest
and lowest prices or the day =