The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-27
Stocks Barely Steady---WeStern Union
the Feature of the Day.
DECLINE IN WHEAT.
Advance in Gold from 112 to 112 "a, Closing
at l12 5-S-MOney Easy and Gov
ernments Firm
WALL STREET.

MONDAY, July 26-6 +. NJ.
The wheat speculation does not to-day present
90 brave and full front as was expected little
while ago. The price has declined both in Liver
pool and Chicago. New York, being middle
ground. simply rejects the situation in both
cities Hence a tenderness Ia observed In the
dealings OF the Stock and Produce exchanges
While operators are willing 20 concede the proba-
bnity OF fair market and good prices for our
breadstuns there is not disposition among eau
tious men TO be misled by the forced and tempo
rary values that attach to the looking up of a
crop. or by the singularly concldent reports from
both sides OF the Atlantic that seem to have no
other purpose than TO advance prices and play
into the hands OF mutually interested spectators.
The few farmers who have avaled themselves or
late figures and shipped their wheat to market
promptly may be regarded as
EXTREMELY FORTUNATE.
They have done well TO the thousands who, in
chetr greed, have been waiting and now SEQ many
cents per bushel against them from the highest
prices. We can only repeat what was written in
CHS column at the beginning OF the movement
forward your crops The speculation has been
TOO sudden to be natural, the advance too great
Go DO permanent, ana the supply is too large for
even the richest Spectator TO hope that by any
ingenuity he can MAINTAIN the price at the rate
that has been recently established. Europe has
suffered but is not ruined. Her demand ON
America has been considerable. but by no means
exhaustive. We have plenty and plenty to spare.
1f the shipments Of wheat had been made when
gold was at 116 or III the pronts to the operator
would have been greater than now, but this Is no
reason why the producer should not avail himself
OF immediate opportunities and thus secure for
himself whatever advantage Is ofrered even Ia
gag currency.
THE STOCK MARKET.
stuck market to-day oresented As chtef
and most interesting feature sharp yet not alto
Sether unexpected advance In Western Union.
The price at the opening was 81H alter which
sales were made at 812z S21a s224, with close
at s24. other stocks showed less favorable
undertone than has lately prevailed especially
those OF the Western lines. This result was DUE
in large measure, TO the reduction in the price
OF wheat and the doubt whether speculation so
rampant as that recently recorded could continue
without sudden and dangerous collapse that
might involve outside and equally grave interests
ii was owing, also, to considerable realizing sales
on the part OF those who believe that they can
buy at lower than present figures before the real
work OF the fall campaign begins. Business was
Gull ana the transactions comparatively small
attention being directed principally to the stock
already named, to Lake Shore. Northwest and
Pacific Mail. Union Pacific opened at rs, advanced
60 T57< and closed at 74H. Lake Shore moved
from 615s 60 60, but weakened at the close to 6lS
Pacific Mail sold at 3914 99X 3S1. st. Paul
common, was steady at 367S 81 371< 81 q 36%.
The preferred stock ended at 500 after selling
60. Erie receded from 15h to Az and
closed at 143I. Wabash moved up to 7,
ending at 6H. Northwest common, alter selling
at 42I4, closed at 4lzS, the preferred at 55 the
best price OF the day being 55a. Rock Island was
firm at 1855. Ohio and Mississippi sold at "a q
23k 2S%. 1t was freely stated on the street that
the dividend on the preferred STOCK had Deen
passed. Mariposa advanced from tx TO 12H.
Other changes were uninportant and Will be
found below.
ADVANCE AND DECLINE.
sbe changes in the closing figures compared
with those OF Saturday are folows:-
MISUNDERSTANDING and Pacific Telegraph, a;
c.. q. and !. o., 70; Hannibal and st. Joseph, "a
Harlem u Lake Shore, Is Northwestern com.
mon, X; DO. preferred, u; st. Paul, preferred,
n; Wabash, III Western Union Telegraph, p;
Mariposa, Ia; gold, "a
Observation-Disclosures and Lackawanna, -; Erie,
&; ONO and Mississippi, "a; Paelhc Mail, "a;
kock Island Is; Union PACING, q.
The stocks that remained stationary are Allan
tlc and Pacific Railroad, New York Central
Quicksilver, and st. Paul common,