The New York herald., 1875-10-01
FINANCIAL and COMMERCIAL.
The Stock Market IFregular-WeStern Union
and Lake Shore the Exceptions.
GOLD STEADY AT III l-S.
Money Easy and Unchanged-FOreign Exchange
Lower-Inyestment Securities Gen.
orally Quiet and Firm.
WALL STREET. l
TuHRspAY. sept 800 P. NJ.

THURSDAY, Sept 3O-o L. NJ
The stock market yesterday feverish, but showed
temporary confidence in higher prices the later deal
ings There was an absence Of exciting rumors and
this tended TO stinen prices The statement OF the
Pacific Mail Steamship Company put forth yesterday
created avery unfavorable IMPRESSION and the Vice
President who signed il, subject to much adverse
criticism. 1t conceded all sides that If after ten
months OF silence the company had only TO offer the
public such lame and impotent conclusion" as that
presented with partial summary Of only two months
business, it was time for some radical change
IN the organization The analysis Of the report made
In the HERALD yesterday partly exposed the nimsness
OF the so-caed But in this connection there
authority for adding that the steamship company
Is largely
In excess OF the $780, 900 loan the iron steamships
that no account appears in the late statement or
1881 900 Mr. John Roach the City of San Francis
co-alowed sail by his suilerance aonenor refer
the large be paid for the repairs Of the
Peking and Toxic Neither do the Sl57 600 due the gov
ernment for taxes have place the statement Of the
Vice President, say nothing OF the dscreded Dhs
floating in Wall street. and bearing the audit q the
company. IL is about time healthy public opinion
should teach these cusodans Of great property that
will not do to dscredt the interests conhded 10 them
nor to rie with their copartners BY suberfuges
II fact in stock circles that some OF the
directors this company have made bets IL Wall street
that their stock would sell twenty ve cents on the
dollar during this year. This dsgracef conduct seems
very much like partner in a firm who whispers ru-
NOR Of failure in to benefit by buying up the
paper Of his house at discount This may be Wall
street ethics but doubt whether II will receive the
appreciation OF honorable Tie Of the dis
Rster to
THE THIRD AVENUE SAVINGS BANK
were confirmed yesterday. The institution, however,
has been in trouble for three years, and has
been gradually hqudating Reports 70 the solvency
of prominent banking house authoritatvey de-
MED There quite active market IN Missouri
Pacific stock and after slight reaction from last even
ing's low prices to 49, it again gradually sunk 70
S9k. German banking house, largely identified with
the road said be selling all the shares they can
End a market for but whether this Is account OF
the bad financial condition the road itself want
OF funds by the bankers IL is impossible
to say. The friends of the road state
under guaranty OF six per cent, and leased
to the Atlantic and Pacific Railroad Company, bat the
shares Of the latter have been steadily declining. 1t
may possible in view Of these facts that divorce s
pending between the lessor and lessee. The next
quarterly dividend OF ~ per cent advertised TO be
paid on October 90 but restraining legal proceed
ing or new mortgage is spoken of in which case an
other Indianapolis Bloomington and Western litigation
may be in store for the hapless stockholders Ocals
of the company deny the truth Of all disturbing
rumors After rally OF the stock TO A. il sank again
toward the close 39A. The capital is Y 900 shares
LAKE SHORE
showed considerable strength yesterday Favorable
reports from the West seemed stimulate speculation
In this stock II is also believed there is large short
interest outstanding and it may be that higher prices
will prevail before the bears induced to One
thing is certain howevcr-to wit, that the whole field
of speculation is now left 10 Wall street The
merchants Of the market the petty bankers all
over the country have lost money by dabbng
lies controlled by the local manipulators and cliques,
and il is not likely of speculation will set
until either power is broken greater pros
pery dawns upon the country. Western Union Tee-
graph stock strong the announcement that after
Monday next the rates for telegraphy would be
increased to 81 gold per word.
THE SALES TO-DAY.
The transactions the Stock Exchange to-day aggre-
gated I26 600 shares-New York Central and Hudson,
1898; Erie, 1000; Lake Shore 4e 500; Cleveland and
Pittsburg 100; Northwestern 7,700 do. preferred,
100; Rock Island, 800; Pacific Mail 29, TO- ST. Paul.
500; do preferred 100; Ohios 3 800; Western Union
I5,ooo Wabash, COO Union Pacific, COO; Panama 100;
Missouri Pacific 10 ZOO Atlantic and Pacific preferred,
750
OPENING, HIGHEST AND LOWEST PRICES
The following table shows the opening, highest and
-.