The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-08-08
Stocks Steady, but In
certain.
GOLD I13 rs A ll3 ga A ll3 So.
Bonds and Investment Shares
Generally Firm.
WALL STREET.

SATURDAY, August TO r N. J
It Is no part OF financial wisdom to shut our
eyes TO the dangers snat are before us, and IL Is
mot within the option OF the chronicler TO be
silent as TO facts that the public have right TO
know. witnout any disposition TO excite appre-
hension we must say plainly that the MARKET Is
unsaIe
At the time OF the recent failure there was
natural apprehension tnat the trouble Weuld
spread and panic ensue; ont that was prevented
not however, by our sound financial condluon'
One very large operator was a. that moment IN
volved in a heavy bull movement lie was loaded
with Western Union, Union Pacific Pacific MALL
Chicago and Northwestern. IL was his impress
sion, probably, that things we're az their WORSE
ana must mend; but caught In false position
ne had to save himself BY main strength, for
stocks had gone by iheir natural tendency ne
would have been hurt BE sustained the market,
therefore 10 save himself; sustained It by his own
efforts and by combination with the banks.
But this one large operator Is an uncertain sup
port Had be been on the other SIDE he would
have made Wall street a pandemonium Tor
while; and II he gets out nov all who may suffer
through having followed hin Ia viii have emily
themselves TO blame. Our purpose In saying this
IL not to alarm; put we state the facts known 10
al on the street. There are no real operations or
consequence on loot. people are doing as little as
possible, and we only express the common opinion
In saying that this is rom want or confidence.
With the people wei warned trouble may be
avoided till the market, under the influence OF
some new and natural impulse, drifts into better
condition
No fresh or Interesting features presented them
selves for comment to-day IN the stock market.
The transactions were confined chiefly TO brokers
who, In the absence OF orders, are driven to spec
ulate with each other, that they may pay office
expenses. such period OF dulness has not been
known for many years. Prices remain COM
parativeiy steady and while there Is no
absolute strength TO encourage outside buyers
shere Is no particular indication OF weakness In
any stock that need cause apprehension. The
-Rumor Committee were not in session to-day,
and appear, in fact. to have been oemOralized by
she enorts set on foot to discover those who
eulated the false and infamous re ports concern
ing various firms that found the pubic ear during
the week. Prices ranged as follows Lake Shore
SOLD az 5s1S coz, and closed az 90. Atlantic and
Paeihc Telegraph fell on TO TX 1874. western
Union advanced from SlA 10 s2z, ending ct 50.
Pacific Mail rose from $50 70 395<, but re-
eeded al the close 10 3S5S. Union Pacihcs
Eold at T2H 72A. ONO and Mississippi
declined from l9H TO lsK 1874. Hannibal and
g. Joseph snded at 1914. ST. Paul common
changed only y per cent; preferred stock the
same. Northwest common sold at Al Az. Erie
was without feature The changes IN other stocks
were insignlhcanI and prices Will be found below.
THE SALES
amounted to about As, 900 shares, Ia which active
securities are represented as foilows:-New YORK
Central and Hudson. 100; Erie. eco; Lake Shore,
lA9oo; Northwestern, 1900; Rock Island, 200;
Paclne Mail, C. 7Oo st. Pau, 100; do. preferred,
100 ohios, 1850; western Union, lO,45o; Union
Pacific, 1900.
OPENING, HIGHEST AND LOWEST PRICES.
Tie following table shows the opening highest
nno Invest prices OF the day:-