The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-04-24
FINANCIAL AND COMMERCIAL.
The Stock Market To-Day Higher Prices for
Several Western Securities
A LARGE GOLD SHIPMENT.
Money Easy on Call at 1-2 3 Per Cent
Foreign Exchange Steady
A LARGE GOLD SHIPMENT.
GOVERNMENT BONDS FIRM.
WALL. STREET.

I
FRIDAY, AprIl % n M.
Il was generally remarked to-day as curious
coincidence that many railway securities bearing
tue name '.Paclhcn were more active and higher
Ihan usual. For the purpose OF Illustrating we
quote Kansas Pacific as selling on new business at
'26 a 25H a - a 20 a 25iS Union Pacific bonds ad-
vanced, anu the common STOCK reached the high
est price in its hlstory-to wit. 1884, the opening
price being 1914 and the closing figure 1871 Mis-
souri, Pacific opened at 49al aud rose to 81 52A
o2k, closing at ok. Atlantic and Pacific pre-
lerred opened at Is and advanced 20 16h, closing
at 15A. The two stocks last named are closely
identified. The Atlantic and Pacific Company has,
we are informed, agreed to guarantee quarterly
dividends OF Ia per cent for three years on Mis-
souri, Pacific and after the 1st OF July, 1875, to
guarantee dividends at tine rate OF per cent.
with a per cent obligation ever after. The
length of Missouri Pacific 2s3 miles and irs
leased lines aggregate about 12s miles. Atlantic
and Pacific Telegraph was steady ana ranged from
26h TO u. Pacific Mail sold at 447s As. and
ended at 49, Considerable comment was caused
by the movement in Kansas Pacific, which Is
ascrtoed TO agencies set at work oy the Union
Pacific Corporation; but those vino are interested
In Hannibal ana st. Joseph hnd little encourage
ment in the new arrangement, lnasmuch as traffic
may be forced IN another direction and very
depressing effect be exerted the seclrity last
named. Tnus far its earnings are not described
as favorable. Reference was yesterday made in
this column 20
THE NEW ARRANGEMENT
between Panama Paciic Mail and the overland
roads. the contract VIII not be signed until TO
morrow uut meanwhile we are enabled 70 publish
the following details as the substantial basis OF
the agreement:-
/. 1t is provided that the overland roads and
Pacific Mali guarantee TO Panama their original
demand 81 $4,000 per month, whether the same
be earned or not. This secures 10 Panama an IN
creas. In It's dividend paying power (Which may
De added 70 It's European and South American
ousinessl OF from twenty TO twenty-lour per cent.
2. IL is understood that henceforth opposi-
rion between the respective l:nes shall cease,
ana commerce by land and sea oe so managed
that each party to the contract VIII enjoy fairly
the profits attaching TO the new combination. 3.
Each company is required to take care Of its IN
divdual interests, and the contract IS lerminabe
on thirty Gays notice from either party.
From the foregoing exhibit IL would appear as
ff the Panama corporation were TO re-
celve the lions share; but, according TO
tue new schedule, Union Pacific VIII secure,
Il is estimated, an advance OF about
S5.0O0000 per annum over It's former schedule
rates. II Is this iact doubtless which has induced
the Panama people 70 enforce their demand FOR a
what effect may be lett in Pacific Mail at the re-
suit OF t1ls agreement IS not vet known. The
books VIII soon Close after which prices may
change auu i new complexion De given % the
market Tae general course or the stock market
VIII be lounn In the following table,
ADVANCE AND DECLINE.
The change IN prices to-day AZ The close, COM
pared with those OF yesterday were ~ follows
ADyAHCE-ArIantic and PaClAc preferred, K;
Missouri Pacific. ~; Northwest common, Il (;
Panama j - Paul common. Is /; Union P2cinc,
IL kansas Paci nc, Il.
DECLINE.-J.. &. and ]. G., + Lake Shore. -;
Ohio aud Mississippi *; Pacific Mai, ~; Quick
alver, 4; wabash "a Western Union, = Allan
tic ana Pacific Telegraph, -.
The stocks remaining steacy were New YORK
Central, Delaware ana LacKawanna, Erie, Hanni-
bal and S. Joseph, Harlem, Rock Island and North
western preferred.
orENING, HIGHEST AND LOWEST.
The following table shows ne opening, highest