The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-18
FINANCIAL AND COMMERCIAL.
The Stock Market Disturbed
Lower Prices.
MORE ENGLISH FAILURES.
Gold Strong al III IA a III l~S-MOney Firmer
on Call at 3 Per Cent.
A GENERALLY FEVERlSH FEELING.

WALL STREET,
THURSDAY, June l7-6 Z. NJ.
During the last twenty-four hours change has
occurred in the stock Market that should not be
ignored. BY the majority OF operators 1t was not
anticipated. Indeed, more confident feeling had
been established, and IL ielt that the close OF
the railway contest and the cessation OF difflcu-
ties between miners and their employers would
be the signal OF general advance. Unfortunately,
however, both OF these iacts-or they are
described on the streets these "bu arguments'-
were discounted and early exhausted their force.
The effect was seriously ielt to-day. But this Is
not all. Gable dispatches continued TO record
iresh failures in England and to report condi.
ton OF financial disquet that is well calculated TO
elicit extreme caution this side OF the Atlantic
Gold mas already stiffened as one of the conse-
quences. Money loaned here on call more freely
at per cent. Erie, as a sort OF spokesman Tor the
London market, dropped on from 16I to 1871, with
Tree offerings, although 1t Is not impossible that
this stock may have been disadvantageously ar
1ected by seemingly well founded statement
that urtner legal pr oceedings will be taken at an
early day IN the direction of the foreclosure.
Whether these local influences are well founded
or not there no question that feverish feeling
has been engendered by the disturb ances abroad,
and that the memory OF the sad times which fol.
lowed
THE FAILURE'oF ovEREND, GuRNEY AND CO..
In 1885, Is still fresh enough to afect our market
Sympathy between important financial centres is
always certain In times OF trouble. and abnormal
events invariably cause complications The
failures reported to-day are as Iollows:--John
Anderson 4 Co., Young, Borthwick Co., Henry
Adamson & Son, John Strachan Co., ana j. q.
Foulle All these houses are understood TO be
more or less connected with those previously car
ried down by the depression IN the
iron trade and the market for manufactured
goods IL Is mentioned also that one or
the firms referred to had considerable American
connections and suffered from the inability oil the
latter To make good their credit. Ii this should
prove true may reasonably look at later day
for further enforced liquidation and bankruptcy
on this side. We liEewlse note that "Malcolm,
Hudson Il Co.. financial agents OF the Japanese
government and A. Gonzales q Co. have sus-
pended, ana other failures are expected"
THE STOCK MARKET
In the early hours OF the day Rock Island was
the leader the decline. 1t fell OF from 1921 TO
1olh. Northwest common receded from 37E to
s6K; Union Pacific from 743s to 1917; st. Paul
from AK TO s17S; Western Union from 757S to 7aI;
Wabash from ~ TO 4: Missouri Pacific from 4s TO
Is. Between local pressure and the aid gwen by
rumors oil the grasshopper plague 1t was easy to
depress values; but there was slight recovery,
Tor the close marked, after an attempt TO make
prices appear better, the following 1gures:--