New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-18

with which to buy exchange or pay duties upon i'm
ports, borrows that gold instead Of buying it, to
the specnls.or who sells it in the open market.
The course OF the stock market to-day seems to con-
firm the opinion expressed in this column q few
DAYS ago to the effect that whatever of benefit rail-
roads were to receive from settlement of the war,
had been fully discounted by the specnlators in the
stocks of the roads involved in the controversy, as
it win be that Lake Shore. more nearly inter-
estcd than the stock Of any other road dealt in
on cur Stock Exchange, has to-day been steadily
and continuously heavy from the opening, which
was at the highest price of the day to the close,
which was at the lowest. Possibly Spectators may
have arrived at the conclusion that the amount of
business to be done is of much more importance
than any combination of railroad interests In
impartng values to securities even when such CON-
Mnaon is entered into for the purpose of advancing
rates which is said not be the in the present
settlement; and they also may have discovered that
il the people will not travel at cent per mile or
send freight at u cent per ton per mile
they viii not at double those rates What
has been true of Lake Shore to-day
has also been the case with the general railroad list
only in less degree Union Pacific alone sustaining
its Late rise and only showing decline OF = per
cent on the days business, thus giving, as IL mas
done before demonstration Of the theory that
Western Union was fairly strong in the
face of a generally weak market; and Pacific Mall
which shows q decline Of only ls per cent is sls-
tanned by the purchases of traders who seem to act
upon similar idea to that which induced large pur-
cbases of Erie at about 80. In relation 10 Paclnc
Mail We have heard q conundrum which we
oeull not "guess" and therefore give the readers
of The TRIBUNE n chance at 1t. "Why were
the freight bills of the Pacific Mail Steamship Com
panys steamer Colon for the LAST and several Prev
ons trips made out in the name Of the Panama kair
road Company The business Of the day shows
LARGE increase upon that OF the two previous
DAYS amounting to 223,30O shares, OF
which 5000 were in Western Union at
75csQ757sQ750 1881 7i7s975'sa7o4, decline
Of 81 per cent Atlantic and Pacific Telegraph. LOCO
shares at c3l, %. decline of 81 per cent; Pacific
Mail 600 shares at 32ss0 32l 4d32si @32l4@
:ea,a 323s. no change; Union Pacific. 1900 shares
At 7,ioa7i5sa 1875 decline of e per cent; Allan
tic and Pacific Preferred, 800 shares at l4si,
a decline of 4 per cent; Pacific OF Missouri
zoo shares at 4994S44Sl2, define OF .
pcr cent; Kansas Pacific, 900 shares al
cOa2Olfd 1853 o decline of % per cent;
North Western, $500 shares. at 3714Q3I is@3I's4
3Gss a37 Gls@3G's 93G4, a decline OF per
cent Preferred, 500 shares at sol 1874, decline
of s. per cent; st. Paul, 10000 shares, at 3Zi2@
31LG31 7sG31 3s93l5s decline OF u per cent
Rock Island, i5,700 shares, at 1O248 lol iS.9
i0ll2@IoIlt a decline of III per cent; ONO
and Miss 1900 shares, at 237sa2@ 023's~
~, dccliue of per cent Wabash ., 100 shares al
76sa717b0G7s, decline of l per cent; Lake
Shore 1O5.sOO shares at Gil4 a633ad 61dG240
63lsaG1 7s0G2ssa61ai, decline Of 2l2 per cent {;
Erie, 100 shares at 167sa16ls, decline OF g per
cent: Central and Hudson, 400 shares at 102is3
ld2 decline of u per cent; aud Michigan Central,
100 shares at g. decline of per cent. The mar
kct closed weak and excited. The opening, highest,
lowest, and closing prices of active stocks sold to-
day were rs follows: