The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-04-19
FINANCIAL AND COMMERCIAL.
Recovery from Depression-An
Encouraging Outlook.
THE EVENTS OF THE WEEK.
The Movement of Money Gold Foreign
Exchange and Bonds.
WALL STREET,
aH - Nnkr


In commercial and financial circles the events
OF the past week have not presented any new or
startling features. They corroDorate in various
ways, however. the opinion which Is beginning TO
dnd general expression. that the country has en-
tered upon a course OF slow but steady Improve
ment in business, and that the worst results OF
the panic are happily among the things OF the
past. IL Is not always easy, when depression fol-
ows great collapse. to determine the period at
which the ebo ceases and the Influx begins, for
the tide VIII often have set In strongly long before
the change has become apparent TO every eye.
But we are now in the midst OF evidences which
leave little room Tor doubt that the natural buoy
aDcy OF the resources OF the American people IL
every where e1erting It's influence In
STIMULATING TRADE
and giving renewed power 10 every business nerve
that has heretofore suffered from paralysis. The
late commerce OF the United states received its
character from the war. The present business Is
taking shape and character from peace. One was
based on an irredeemable paper currency. Inc
other is being quilt up on convertible currency,
which, as the time approaches lor the resumption
OF specie payments, must materially change the
nature oil contracts and affect the measurement
Of all values. Already Is observable greater con-
Bervatism In the management OF their afiairs oy
merchants and manufacturers. There are lever
failures 10 record every month Spring though
late, is opening with FAIR promises to obbers and
reta lers, and on all sides are 10 DC
heard the busy notes OF preparation Tor
period OF more than usual activity.
II is true that many OF the railroads DO not show
the large earnings which were recorded two or
three years ago. and that In several instances
these corporations have become entangled In debt
and passed into the hands OF receivers. THESE,
however, are only natural results OF innation
speculation. overlooking with watered stock and
bad management. and are not 10 be taken into
account at TIME when new laws and effects are
constantly maniiesting their operation.
THE SPECULATIVE MARKET
in stocks has been active. The principal changes
OF the week were IN Union Pacific, which declined
from 1917 to 69A, but at the close the stock re-
covered to TAX on favorable returns from the
traClc department. which snow an increase or
more than $780, 900 for the first fifteen days OF
April, compared with the earnings OF the same
nerlod In 1874. Pacific Mall receded from 43T TO
42s<, but advanced 70 44sl yesterday. the course
OF this stock was perpexlng to the majority OF
operators, ana the purposes or those who are be-
hind the curtain are full OF mystery. Panama
moved from 12l to I2sk, the highest being the last
quotation. Northwest common fel or from 45S
20 Az, and the preferred from $50 to 81 In the
lae dealings there was partial recovery. ST.
Paul common was moderately active, but yielded
70 the prevailing tendency by declining from 39I
90 SIX. The close, however was made at 3s7s.
Quicksilver went down to 1917. but closed at 20ls.
The common ended at 20, alter selling at 2714.
Wapasn receded from 10 TO lax. but closed firm
on the expectation OF an early movement, ut l5h.
Western Union nuctuated between 77I and 1917.
ending AZ TIC. Other changes are less important,
and win be round In the following table, showing
the extreme range OF prices In the leading
shares:-