The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-18
WALL STREET NOTES

FREsR SPECULATION ON THE STOCK EXCHANGE
AND CURRENT Gossm-No DECISION IN TIE
UNION PACIFIC oAsE-vsTRRET ADvIcEs-
The feature OF most prominence on the street
yesterday was the increased impetus given 10 the
bear movement duEng the latter part OF last
week, there being a general pressure TO sell. As
naual under such circumstances, the tone OF the
street is almost universally bearsh. although
there are some who hold 10 the opinion that the
movement on the part or the leaders - only
feint TO induce a larger short interest, upon
which they can more readily unload the large
amount or stock purchased In creating what IS
now spoken OF 62uratlveiy as the recent Bo-
nanza excitement. The market would seem 10 be
in just mat condition where tactical skin has the
largest opportunity 10 win fame and money,
while II is also well 10 bear In mind Napoleonis
maxim that ''Heaven Is on tine side Of the neavi-
est artileryn which In this means the largest
bank account. Outside OF the struggle on the
moor OF the Stock Exchange there was but little
on the street TO excite public attention in ;he way
OF special news. The expected decision
IN THE MATTER or THE UNION PACIFIC
was not rendered, dispatches from Washington.
however, promising for to-day. THIS is the dsci-
sion, II VIII be remembered which involves the va
lidity OF the claim set by the government for the
payment by the company OF interest ON the subsidy
| bonds 70 the extent OF one-half the government
account with the road for transportation. The
| decision In this case win, of course, involve tho
liability OF all the other roads, To Union Pa
ci1c an adverse decision would, tits SAID create
or determine present liability or sl,ooo,oQ0 and
nearly $500 900 eacn subsequeny year. The other
Pacific roads are proportonately interested,
viz.--the Kansas Pacific, TO q large amount The
roads west OF ogden have less interest In the mat
ter.
MORE ANTAGONISTS.
| The existing relations. which are said to be not
OF the most friendly nature, between Russell Sage,
Vice President, and Alexander Mitchell, Pres-
/ dent or the Milwaukee and ST. Paul Railroad, was
the subject OF current gossip upon the assertion
that the latter had obtained control OF the CAP
lta stock OF the company sufficiently TO dictate
being argued, ergo, ne win Dust MS opponent
v all street has no fine distinctions 10 draw IN
| such matters, with IL nothing 10 so successful ~
success and the weaker man goes to the WALL
STREET ADvICEs.
Advices were received on the street YESTERDAY
from Montgomery Ala, TO The effect that the
Chancellor has Denied and oyerruled the motion
OF Branch Sons and others, TO be made parties 10
the proceedings Tor the sale OF the Western Rail-
road and nave the sale set asiie.
the eject that John NJ. Roundtree. County Attor-
ney mas received notice from the attorneys OF
George Nebecker in the sun OF said Nebecker
THE DANvILIK AND vINoENNEs RAILROAD t.r
that they would to-day Desterdayl move IN tnt
United States Court 10 extend the Injunction in
the above entitled case to the waole amount o.
taxes assessed against the railroad company ior
the year 1874. The injunction heretofore granted
in this case EXTENDED only TO the capital stock.
LAST WEEKS BUSINESS.
The transactions at the Clearing House for the
past week compare follows with those Of the
previous week.
Clearings for the ending May 8..... f5l36i ga
Cearngs the week ending May l5....... sL.g S9k
balances tho week ending May S........ 2AshL G
Ba ances Tor the weef ending May lb........ Ny IO
The reduced volume OF business last week as
| compared with the previous week IL here clearly
shown. The ComDtroIler OF the Currency yester-
! IA establishment G.
tional banks, with capital averaging from
$lOO00 10 s250000. These are shortly TO DO
opened in New England.
THE DIRECT GABLE.
II was reported that the direct cable mad been
connected at Newfoundland yesterday, and com
mun1catlon aready made with this city. Bush
ness, il 10 asserted, VIII be open In day OF two.