New-York tribune., 1875-07-12
NEW YORK DAILY TRIBUNE ls75TRIPLE SHEET

prosperous in the future there can he no
doubt 1t is only question rs to when
"the good time coming" will put i'll its welcome
appearance Many thint it will be very soon, and it
is TO ne sincerely hoped that they prove true
prophets. Notwithstanding the present duness
land it is season of the year whom inactivity III
trade is to be expected even in ordinarily prosperous
tmcsl, find MANY who anticipate an active
Fall trade. Whether this opinion be well or i'll
founded, the abundant harvcs;s throughout the
country which we have now every reason TO antic-
pate will no do doubt fIrnish during the coming
Autumn and Winter active employment for many of
the railroads which are now sorely in need Of bils-
ness, and possibly some of the Wall-st. gentlemen
who are now engaged in bulling railway securities
are only ambitious of anticipating OF "discountng'
the future.
The principal event of the week of local interest in
financial circles has been the sharp decline III the
gold premium to 1855 in consequence of the an
Eouncemcnt from the Treasury Department be-
fore referred to. supplemented. as IT was
by reduction OF l2 per cent IN the
rate of discount by the Bank Of England
Government bonds have been quiet and slightly
lower in sympathy with the decline in gold. but close
with Grmress at the decline. In State bonds the
business has been moderate, and the feature has
been greater iirmnoss i'll Iennessccs growing out OF
a belief that means will finally be provided for the
payment of the overdue July Interest," but the
reason for this belief is not perccptlble
10 the naked eye For the better class OF
railroad bonds there has been very good demand,
the business running largely to the Pacific Issues,
which are strong. Money has continued easy at the
old rates, with the exception Of temporary advance
on Friday TO i per srut on call, growlng out of
little excitement arising from nnjustiliable runors
concerning an abscondng broker, and the fail
urc of n somewhat prominent gold slccula-
tor TO meet his engng g,n.ens. But to-day
call loans may be made at 2a2l2 per
cent. while good commercial paper is III demand ut
3l2 to l according 10 grad. There has been moth
ing noteworthy in foreign exchange. The Specula-
ton in stocks has been dull and variable, though the
week shows a very general bAt not very large adj
vance upon the active list. The total amount of
sales for Tie FIVE business days Of the week i
less, than 600 900 shares, which is hardly more than
a DAYS business III really active times. The trans
actions have been very much confined 10 three
stocks. viz: Western Union. Of which 2Ol ,3Oo
shares were sold Pacific Mail, 133,GO0 shares
and Lake Shore, $50 700 shnes--thcse three com
plisng nearly ivo-sxl> OF hc total bllsncs. West
crn Union has been the chief point ci interest
and has to Il certain extent, given tone to the rest of
the market. The supporters of the Telegraph stock
are anticipating higher prices for H. and one OF the
rcasons they give for their faith i'll iurthcravmco
is ihc stat cnent that an arrangement has been made
or substantially agreed upon for the leasing
of the Atlantic and Pacific Telegraph Com
pany concern which, in certain quarters,
has heretofore been considered somewhat danger
ons rival 10 the Western Union. The stock has made
an advance of ll2 pcr cent since last Saturday and
closed within /, per cent Of tie highest price of the
week. Lake Shcrc at time exhibited con
siderable strength i'll an advance to Go"7,
but closed weak at 5S's, or ~ per cent
higher than one week ago Pacific Mail has
been salcct 10 many fluctuations. selling from
395- up 10 - but in the final dealings losing all but
II per cent of its cain. NorhW cstcrn and ~. Paul
Common have been remarkable for nothing but
their dullness, while the Preferred stock of
ST. Paul has exhibited great strength i'll an
transactions. The purely investment shares Ike
Delaware i.achawanna and Western AID Central of
Ncw-Jcr,cy have shown an advancing t'n-
dency. probably through the demand for that
class of stocks, from those seeking to
rcinyest their July interest on dividends.
COMPARING the closing price, of to-day with those oi
last Saturday. we find that Cleveland and Pitts
bnrgh. Illinois Central O.iio and Mississippi and
Atlantic and Pacific Telegraph have each advanced
X per cent North-WeStcrn Pref rrcd, Rock Island,
and L. :. Express each Il; y. \. Central. Harlem,
LAKE shore, North Western Common, and Paclic
Mail. each y Erie St. Paul Common, and Atlantic
and Pacific Preferred. each l.; Consolidation
Coal. 5s Missouri Pacific =; Ncw-JcrSey Central.
/; Western Mon telegraph, III; ST. Paul Pre-
icrred 2l4. and Delaware. iackawanna and We>t-
crn %. Union Pacific deIed J. per cent; Han
nbal and -. Joe and American Express, each. II;
C.. {. and l. c. 3s; Wells. Fargo r., and Michigan
Central ia. Other stocks aIe without change IL
price.
The suhoiucd table shows the extreme iu"tua-
tiors in United States bonds, the leading rail
way and miscellaneous shares. well as gold and
tie closing quotations OF cach at the dates und
mentioned also the humber oi shares of each lead