The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-22
COUNTING THE GAINS.
Is 1t a Success or Is. 1t
Not ?
Gold Quiet-Foreign Exchange Unchanged
Money Easy-Bonds Without New Fea-
thresholds Steady at Latest Figures.
A NEW DEPART RE?
WALL STREET.


FRIDAY, May 2l-6 r. M.
The stock transactions to-day we've attended by
considerable excitement ana the market was PEE
enliar. AT the beginning II was comparatively
nrm; about noon sharp decline set in, but the
close showed recovery and In some instances
the highest hgures OF the day me opinions or
the street ere widely divergent ana operators are
generally mystlhed by the manipulations OF the
moneyed operators. IL is by no means certain.
however, that the bottom OF the present bear
movement has been reached; Tor Wherever pres
sure was attempted to-day It was success
fnl, and 1t may be used again hereafter
Carefully viewing the financial situation 1t is noS
liflcult TO see why, following a successful leader
IN his supposed work, the hundreds VINO specu-
ate Tor gain OF hair or one per cent should not,
Dy the mere pressure VI their sales or purchases
give To the marker Its good or bad tone, lnde-
pendent OF natural causes. Ia less than week
these same parties may change front and, by
united action, give new course TO the tide
aud to the situation Tose-colored hue that
VIII communicate Its influence to the
whole couptry, or the reverse. There
is more reason ior weakness now
than there was month ago, when prices were
higher, and there Is no good reason why, when
everything is ready Ior a drawing OF the seine.
the chief fishermen In the pool VIII not scoop up
their big and little game alike.
EXCEPT
that this late decline, superinducec by oearish
pressure, has been the result. % has been
stated In different circles, or deliberate purpose
to create short interest upon when speculative
stocks might De unoaded. Take Union Paclnc,
for instance at 10 and loanng at the rare OF 40, as
Il mas. Ii was clearly necessary To have a short
interest created in that STOCK before 1t would
oe SAFE 10 unload II. else 1t might break ana in
yolve the whole or good part OF the street IN
ruin. This result Is so far avoided. The short In.
rerest Is now pretty large, ana successful ''get-
ting out OF difcultlesf in present Investments
may be practised 10 the future damage OF Erie
and other weak stocks. whether ''tne squeezen
will be applied this week or Kept over to Monday
yet prospective. In any event. it Is safe 10
assume the alarm has been gwen too late. The
clique has thus far MADE lts market.
ADVANCE AND DECLINE.
the changes or the past twenty-four hours are
As follows:-
pEcLNE-Atlanttc and Pacific Telegraph, ri;
Atlantic ana Pacific preferred Y; Hannibal
ST. Joseph, "a; Onio and mississippi A.; Quick
silver 4 81 Paul .; do, preferred, ~; Kan
sas, + missouri Pacific, x gold 4.
ADvANCE-New YORK Central, p a., q. and j. O.
a. Erie, Z: Harlem. - Lake SHORE, q: Pacific
Mail, a Rock 1 lana. = Wabash ~; New Jersey
southern, a Erie, IN London, IL.
The stocks tnat remained stationary we're Della
ware and Lackawanna, Northwestern common,
Panama, Union Pacific, Western Union, Kansas ana
Nortnern Pacific.
THE EXTREMES or THE DAY.
the following table shows the opening, highest