The New York herald., 1875-09-30
FINANCIAL and COMMERCIAL.
Stocks Somewhat Stronger Pacific Mail Re-
pOrt-RumOrS Of TrOublG-An
Active Market.
GOLD CLOSED AT III IA.
Money Abundant at 1-2 and Per Cent
Commercial Paper Unchanged-The
Foreign Market Dull.
WALL STREET,


The stock market to-day again led by Pacific
Mail, which in turn communicated sympathetic
strength other securities II suggested in this
column yesterday that the price would touch 49, II
barely did Thereupon the street was flooded with
roorbacks. Some of these referred to well known
houses and the the undercurrent of excite
ment strong Another rumor somewhat better
defined and concerned the welfare of the Third Avenue
Savings Bank, of which 1t said that three OF its
trustees had gone to Albany TO make application for the
appointment OF a receiver Although the payments of
the day may not have been suspended by the bank and
the report of its failure semi-ocaly contradcted
the belief is still uppermost that the institution is in
trouble 1t would be among the most unfortunate Incl
dents of the existing situation If the disrust that at
taches TO speculative securities should extend to the
poor people whose little capital invested in the banks
and it is to be sincerely hoped that every effort will be
made to sustain their credit The report of Vice Pres-
dent Scott concerning Pacific Mail is not everywhere
regarded satisfactory but perhaps the is that
the story published yesterday of the sale of the side
wheel steamers on the China line turns out to be
BARE FALsEHooD
and follows into obscurity hundred others of similar
import that have been given out for other purpose
than to deude the credulous. The report in full viii
be found elsewhere correspondent, on this subject,
makes the following tit will be well for
the public note that while the report gives the total
Indebtedness as of March at 81, ,44 701 including the
sums accruing due before December on the three
steamers, all such items omitted from the pres
ent Indebtedness, for it is we'll known that the COM
pany gave Mr. Roach its notes for about $3.50 900 before
obtaining possession Of the City of San Francisco-a
sum greater than the total of bills payable given
Again in this statement allowance is made for cash
assets hand March l. for receipts from the sales
of real estate and other property which have amounted
4 lie nnta avid hat otata
ment is reliable than those which were so
freely circulated about year ago. Yet 1t is not
likely that while the public would DO well to improve
this opportunity to sell the stock they hold the present
position of the stock might make it dangerous for oper
ators to sell it for short account"
STOCK MARKET.
AS before indicated, the leader of the market was
Pacific Mail, OF which 103 600 shares sold.
The opening price was 36T. There was then ad-
vance to 49, Rumors OF favorable report, coupled
with the forced covering by the shorts led up to this
result Quickly, however, other and moro damaging
canards took their place. and the price fell OF to 36
36%, at which tho close made The next most
active stock Western Union, which sold from 76H
to 762< fell off to 75 and closed at 75. Wabash ad-
yanced from 6K to TX. Lake Shore ranged between
53X 54s6, but at the close weak at 53%. Hanni-
bal and St Joseph moved up to 19s4 per cent and
ended at 19 Atlantic and Pacific preferred sold down
to Ga, and Missouri Pacific to AZ Both of these
stocks were depressed by dscouraging rumors.
connected with certain law suits that pend
ing; but from Of the officials o. the
former company-both are closely identined-wc
ceived the following copy OF despatch from St Louis
sent at late hour to-day:-'The of George OPP
dyke and others against the Missouri Pacific Railroad
has been tried and final judgment rendered in favor OF
the railroad company. There is appeal froni this
decision"
St Paul advanced from 345 to SAX, closing at 34H
All the Western shares attracting attention
from tho fact that reports about business the West
cheering. Union Pacific advanced to 70H and
closed at 6o% TO- Harlem sold at 3oh, against 132
yesterday. Erie fell off to 1871 Michigan Central ad-
vanced from 55 to 57H, closing at 562 ohos reached
IT. but ended at 16%. Northwest common advanced to
40 but reacted to 39. Rock Island closed at 1Os the
best price of the day. Erie sold at 1917 a17H and
closed at 161s. Other changes are comparatively
important
OPENING, HIGHEST LOWEST PRICES
The following table shows the opening highest and
lowest prices of the day.