The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-31
The Stock Market FeVerSh and Unset
ted Sharp Reactions. q
MONEY ON CALL 5 AND 6 PER CENT.
Gold Recedes from n6 7-8 to m5---The
Borrowing Rates Lower.
BONDS GENERALLY STEADY.
WALL STREET.

The stock market opened calmly, as II there
was feeling OF WEAKNESS after the storm OF yes.
terday. 1t was but q little WHILE however, before
there was an exhibition or fresh purposes.
bearish feeling was developed. securities hitherto
strongly held began to show the effect Of large
realization and IN the case OF Union Pacific there
was a sudden and unexpected break between
twelve and one O'Clock of ak per cent from the
opening price. The excitement Tor the moment
was intense, and there was hurried rushing TO
and fro in endeavors to stop the losses that med
to impend. Almost as quickly as the lowest price
was made, however, the figures again began to
ascend, and men drew breath while they watched
a steady recovery TO 64'I. From this point ODE
dent TO other causes, there was decline TO e2H,
with a close at 62X. In some stocks, especially
those which belong to
THE CHEAP VARIETY,
more or less Of strength was shown. Wabash ad.
vanced from 1416 to Is, closing at 1872 The move.
ment in this security has been awaited with con.
siderable mpatience and. slight as It was to-day,
IL Afforded encouragement to It's holders st. Paul
common ranged from 3624 10 3s1s, the close being
at 81. OHIO and Mississippi went from % TO 20,
and ended at 3d. HANNIBAL and 81. Joseph sold at
2S1S, down 70 81, and closed at 27k on more than
usually active dealings c., c. and !. c. was
steady at 8. New Jersey Southern sold at a9a
81. Northwest common opened at As, rose to 4e.
declined to 44sS and ended at 44z. Erie receded
from 3lA. to 29% after an opening at 30H; the
close was made at 29al. Pacific Mail weakened
from, 4331 to 411S the last price being AK, with
many inquiries concerning future tnat Is sup
posed to depend on the new arrangement alleged
to have been made at late hour between
this corporation and Panama. Atlantic and
Pacific Telegraph advanced from FAX TO 25A.
Western Union opened at 751, sold up to 7sh and
declined to TEX at the close. Lake Shore was
o1ua 20 - Andin a
Rock Island ranged from 1861 to 1851 with
close at 100. Delaware and Lackawanna sold at
l12h, New Jersey Central at l13 112X, Panama
at 115H l16X. From the foregoing figures, II
they are properly analysed in connection with the
fuller reports which follow, 1t will be observed
that
THE TONE OF THE MARKET
was considerably depressed at the close. 1t Is
proper to add that this result was not unexpected
by the shrewder operators, who have protested to
regard the reaction as symptom OF healthy
speculation. They did not, however, anticipate
that 1t would be based upon rumoIs connected WIFI
the illness OF MIR. Daniel Drew, who Ia known 10 be
OF the largest operators in the street. It's poor
commentary. however, upon the character Of
speculation In our great American Bourse, that
the breaking OF q trace or bone while Commodore
Vanderbilt is driving his last horses or dlstfess
1ul ache in any other millionaire should be mace
OCCASION u
to illustrate the excitable, temporary and aonor'
NAL condition OF our hnancia, AFFAIRS; reveals rot
tenness and Is well calculated to disgust honest
investors am deter them especially when repre-
senting foreign interests, from enering our mar
ket and adding to its legitimate strength. Late
Information indicates that the sick speculatof
may be able to take care OF his stocks tomorrow,
and thus remove existing and depressing doubt@
ADVANCE AND DECLINE.
The prices at the close this afternoon compared
with those OF yesterday show the following
changes:-
ADvANcE.-C., G.. and /. c., Il; Delaware ana
LacKawanna, Il; Lake shore, !; panama' n ;s 81
*; Atlantic and Pacific Telegraph, ~
DEcLlNE.-Erie, X; Hannibal and 81. Joseph
Il; Northwestern. "; OHIO and Mississippi. ~
cine Mail, ~; Union Pacific *: northwestern
preferred, l. Gold. ~.
The stocks that remained steady were Atlantic
and Pacific, preferred New YORK Central, Harlem,
Qaicksliver, Rock Island and Canton.
THE TRANSACTIONS OF THE DAY
were again large, amounting 10 about S90.00o
shares, which were distributed as follows New
York Central and Hudson, 300: Erie, 47,l00i
Lake Shore. $1,000; Northwestern, 10000; do.
preferred, 200; Rock Island. 1900; Pacific Mail
49, 300; st. Paul, 1O,7oo; OHIO, $4,000; Western
Union, $1,000; wabash, $4,000; Union Pacino
60, 200; G., q. and 1. G., 600; Panama. 400.
OPENING. HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest
nj