The New York herald., 1875-11-30
FINANCIAL and COMMERCIAL.
Union Pacific the Feature Of the Day-A De-
sision from the Supreme COurt-Ihs
Remainder Of the Market Heavy.
GOLD STEADY AT ia 5-S.
Rag Paper S7.24-Money on Call and Per
Cent-Goyernment and Railway
Bonds Firm.
WALL STREET, I

WALL STREET, I
MONDAY. Nov. 20, 1875.
On the Stock Exchange to-day tho event OF chief in
aerest was the receipt of the reported confirmation by
Shs Supreme Court Of the decision Of the Court OF
Claims rendered last May in the or the Union Pa
cioc Railroad Company The Government AS this
case has been unduly magnined affecting the value
Of the securities OF the railroad II is now in order to
briefly recte she facts The railroad company largely
IN arrears the for interest paid upon tho
currency SKIES which loaned TO the company to
aid in building tho road The contract between the
government and the railroad stipulated that onehaf OF
the pay for service performed by tho railroad for the
government should be retained as part payment OF the
interest for which the government liable its
honda Some time ago the Treasury Department un-
aertook to retain tho whole Of such sum, giving tho
railroad credit in account for the same. For
this one.haIf thus retained the railroad brought
puit in the Court OF Claims and on the 3lst
sf May, 1878, recovered judgment for the
pum Of ssh, o32 SO. This judgment has now been
confirmed by the court OF last The full effect
upon tho railroad company put it in present funds
for the amount which the government has heretofore
retained and above the nehalf due for service
which IL has right 10 RETAIN and in the future-ac-
reptng the past criterion of the government bust
ness-she company will receive about $3.50 900 per an
mum in cash from the government for services per-
months II will be observed that this OF $3.50 900
just and quarter per cent the capital stock
the company The decision does not affect the Just
debt which steadily accruing in favor OF the govern
nent against the company nor the claim OF the gov
for Ave per cent each year OF the net earn
Ings OF tho company to be paid account OF such
Indebtedness in addition the one half OF the amount
due for service, which is still TO be retained
THE STOCK MARKET.
The sweets in to-day's prize packages in confection-
er's parlancc, were decidedly mixed, and Jay could
spccaltes the close OF the market strong and
buoyant while other fances weak and declining
There were quite many lemon drops loipops in
the assortment The entire paraphernaa OF the Union
Pacific laundry with additional supply OF soap and
water 70 meet increased demand was set going
early in the day and the most experienced washer
woman Of the establishment controlled operations
The instructions were Keep her she goes-nothing
on-and drcadnaught'" ="
Up to one O'Clock business generally at stand
still, and brokers ounged listIessy about waiting for
she promised verdict in the great OF Union Pacific
Railroad Company Uncle Sam. The price OF the
stock had meanwhile been gradually washed up with
limited transactions from its starting point at 744 to
IS At this moment the decision was announced
being on every point and by unanimous vote OF the
Judges favor OF the company II having been argued
that unavorable decision would revive recoliectons
OF favorite optra botGe-iD word, that 1t would
play 'OId Hob" Tor term Of more
Intense caIorinc quality with the market many per
sons imagined that contrary effect would be the
suit OF a contrary verdict. Beyond, however, gen
orally Increased activity and decided upward spurt
Pacific Mail from OF ai nifty, the effect not
remarkable. Indeed, in the OF such stocks
Michigan Central, Lake Shore and ST. Paul, their
course directly opposite, and the laugh among
holders IL they saw any laugh in the matter, de-
cidcdly ION the wrong side OF the mouth" Michigan
Central fell of nearly three points the rumor that
damaging reports to the condition Of the road
reports which 60 far to declare it's inability to
sarn even the its bonds-would appear in
lomorrow's papers, backed up by facts and figures
rhis story It is fair to say. from Boston, and
may be simply the result Of ndigestble fish ball
partaken Of at the Sunday breakfast table,
Mr. Maynard and the seaskn coat both kicked up
Aust in the Lake shore circus to-day, and there
surred quite a spirited Graco- thngamabob wrestling
match between them. He Of the motley got the
better or the encounter and plastered his
antagonist with stock skiliuly
he does his own countenance with bismuth But the
young operator It is said, aspres TO control the road,
and 20 do SO acquire stock. He is acquiring it.
st. Paul weak with decided tendency to lower
figures Nothing particular seemed to be known of the
reasons why vague report was circulated that its
anars the courts not having the ''good deliver
ancen that had been extended road Chaf-
Ing bears sarcastic but venerable growl
or "B(u)y ST. Paul, the work goes bravely on" and
sucked their paws Joyousy at the quiddity.
Beyond breaking uptown savings bank of about a
one.pony power prominence the rumor committee To-
gay permitted the OF banking institutions to
until their next meeting In regard TO the above
institution is only justice 10 say that the writer.
passing by It late in the afternoon noticed plaoard in
window to tho effect that the bank would be open
from Sir to ten O'Clock P. NJ. There signs OF
vun OF excitement Of any kind and the only crowd
assembled Bridget and her cousin who were peer
sng into tho windows few signs OF trepdation
ON their faces as could be well desired.
The opening intermediate and closing prices were
n follows:-western Union, 76E 76s, 1877;
Lake shore, 62,l q 6lH 62h 6lx; Erie, i6x
al61; Northwest, 3sh S9 preferred, 541s 54X;
Michigan Central 641S 621S So IL; ST. Paul. 3eIs
ssZ; preferred, o6k 65H Ohio and Mississippi 1871
1sz . 1sH 1sk; Pacific OF Missouri, 12Z al3;
hannibal and ST. Joseph, 22sl 22ss preferred 2e,<
res,; Union Pacific 746 a75H q 74k 7s1s 77J6 a
yex: Rock Island, 1867 1854. Missouri Kansas and
Texas, 7s7K ~; Kansas Pacific, lSH l6h l5k.
THE SALES TO-DAY
Amounted 10 III 300 shares which were distributed
among active stocks, as follows:-Erie 400; Lake
shorc 10 eoo Cleveland Pittsburg I5o Northwest
srn soo do preferred 500; Pacific Mail 3s 600; ST.
Paul a5oo; do preferred $500; ohios, 1900 Western
Union, II 100; wabash, 200; Union Pacific, Is, 500;
Michigan Central, 6,650; Delaware Lackawanna and
Western, Io34; Kansas and Texas, 400; Kansas
Pacific 1000.
orxSEo HIGHEST AND LOWEST PRICES
The following table shows the opening highest and
lowest prices Of the day
Opening. Hiohea Looea
New York Central iosH i9sI IosI<