The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-04
FINANCIAL AND COMMERCIAL.
Events Of the Week-The Cen.
diticn Of Trade.
COURSE OF THE STOCK MARKET.
Movement Of Gold and CurrenCy-InyrStmCnt
Securities and Government Bonds.
WALL STREET,
GrrNnAN Oql a 1874

STREET.
SUNDAY, Oct 3, 1875. ]
The events OF the past week in financial and
sia circles not OF a character that requires
tended comment Stocks we're moderately active, and
general business Is reported somewhat improved. The
shrinkage OF values continues and capital shows no
desire TO leave the path OF for the neld OF
speculation. Indeed positive change for the better
likely TO until after the Of the rag money
party positively known and Fixed by the elections in
Ohio and Pennsylvania
Carl schurz in a lato speech in Ohio, put the whole
matter In nutshell when he said that the adoption OF
this imitation policy ''would discredIt republican nsti
tutions the world over expose the American people to
the ridicue and contempt OF civilized mankind, make
our political as well business life than the
hotbed OF gambling and corruption, and plunge the
country into all those depths OF moral and national
bankruptcy and ruin which all history demonstrates
never, never fail to follow a course utterly
demented in Its wickednessn The recent failures
reflect weakness They simply the debris o.
past misfortune and do not threaten fresh danger
Further contraction may produce still other disasters
they part Of the results that attach TO eondi
OF high financial fever Force the majority Of bush
men to-day to liquidate and the country would
probably be astonshed at the amount that has
hcen obterated OF what formerly called ''values
The statement would not interesting than start
ling which shows
TAE AMOUNT or DEPRECATED PROPERTY
represented by bonds mortgages shares Of stocks and
securities which loans have been renewed for
several years in the hope that healthier condition OF
affairs would eventually take The place Of the dry rot
which has been the rule Yet those who have tho
strength and patience TO 60 through the struggle will
undoubtedly reap their reward for now, trade is
be ne q sounder basis, credits are being moro
carefully scrutinized, and hrmer foundation laid
Reference to trade journals which supposed to OBJ
trustworthy information their several specalnes
indicates the beginning Of movement that
or later must present encouraging aspects not
withstanding for the that prices largely
reduced and goods forced sale at ante-war hg
The fall in dry goods since 1874 has ranged from
10 TO 20 per cent The decline in metals has
been even marked while il Is remarked that thus
far the exports Of grain and cotton have not been
stimulated by the considerable concessions made
their respective departments STILL the shipments
TO the South and West suggestive OF greater
activity those sections though the purchases
of their merchants are principally confined TO the
Of life visit 10 the wharves Of the steam
the sailing days especially of the Charleston
Savannah and New Orleans lines, Will satisfy the OBJ
that here least OF the hopeful signs Of
the times. It may prove to be the beginning of a
better and more general fall trade,
STOCK
Stocks opened weak, later sti1ened rom u 10 35s
per cent but the close the market became rregu-
lar and lower in consequence Of break in Union
Pacific ana Missouri Pacific The former declined from
gOA to 641S rallied to es and closed at e53s 65A
The latter receded from Ask s5H recovered TO 50,
the close fell of 35A. The decline inhu-
enced by a report that the State had taxed the
pany cent of its gross receipts but this statement
emphaticay contradcted by officials The Legislature
Of Missouri is not in The only important suit
which the officers Of the company have knowledge Of
was that brought by the bondhoders Of the St Louis
Lawrence and Denver Railroad and this decided
BY United States Circuit Court in favor Of the Mis-
souri, Pacific The ST. Louis, Lawrence and Denver
was formerly leased the Missouri Pacific; the
cancelled the lease the suit brought by the bond
holders Of the former enforce payment of coupons
The court decided that the Missouri Pacific
liable The dividend OF the Missouri Pacific q x per
cent is payable October 90 and has been advertised
Michigan Central caused little comment by declining
from 55H So but advanced 10 S. Northwestern and
and St Paul comparatively nrm, with slight nuc-
tuatons Lake Shore occupied considerable share Of
attention, falling on from 53a5 to 52, ralying TO 54%
and closing at 531 Opinion is about equally divided
to the future Of this stock but in the absence Of on
cal figures it impossible to arrive at correct knowl
edge Of the condition Of the company. considerable
short interest believed TO exist based the belief
that il viii appear that the earnings have largely de-
creased
PACIFIC MAIL
from 34% 70 SO the statement OF Vice President
Scott but later lost strength and receded TO 363S
the closing price owing 70 amended review Of the
financial situation BY the Official The real infor
nation concerning this football promised BY outside
parties who know the igures and claim they will ser
Ously impair the 81 the managing director
The stockholders % wabash making fresh effort
20 preserve their interests il the company, and
without prospect or success Meetings have been held
proxies coming in, and a committee Of gentlemen
will be present at the meeting Of the directors this
month Western Union declined from 76sS to 75I
advanced 767{ and closed Of per cent
The strength ascrbed a break in the Direct Cable
and consequent advance Of Western Union Cable rates
from Is cents to 81 per word Ohio and Mississippi
sold up to tx and closed al 1914 Tho company's
statement shows increase liabilities for Tie year
or s463 756 and surplus Of about SIS 900 above il
terest charges Eric less than usually active and
sold at 17k 1871, ending at 1875. Atlantic and
Pacific preferred declined from 1oA TO SIX The other
changes we're less important and will be found below
HIGHEST AND LOWEST PRICES
The following table shows the extreme fluctuations
for the week in the leading shares
Highest Loroest
New York Central. ................s- lu56 lOZA
Harlem. III 1904
Ere. ACKNOWLEDGEMENTS. Tx 1875
Lake shore. 04A ON
wabash. ..........................." - %
Northwestern. ....+................ 80 ooN
Northwestern preferred. ............. 54T o.
ROCK Island ............. .s......... lUoA IOtH