The Portland daily press., 1875-06-03
New York stock and nouev Market.

NEW YORK.. June 2-Evening.- easy at "a
a per cent. on CALL. Sterling Exchange was firm
receipts to-day $780,, 00O Gold opened and
closed 61 with sales in the interior at 1l6s loans
were made fiat at o per cent per annum and LEA
per cent per diem for borrowing. The Assistant
Treasurer paid out to-day $4,000 account of in
terest and $64s O00 in the redemption of bonds The
specie shipments to Europe TODAY were $500 900 in
gold coin, $l6t634 in silver bars and $4,000 in Mexi
can silver. The following the operations the
Gold Exchange Bank-gold balances Si,e34. 1874;
rency balances 81 940.342 gross clearances S63,0S0
OOO The following is the Clearing House statement
currency exchanges $96,O35.6i7; currency balances
S4512,O2 gold exchanges $3,s4S.7s2; gold balances
$685. O95. Governments firm. State bonds are dull.
In railroad bonds the leading feature the strength
of Union Pacific issues, which were in active demand
and advanced TO 1924 for rsts, 97s for land grents
and 92a for sinking funds The largest transactions
were the last named. The directors of the Union
Pacific Railroad Company met at the presidents Of
fee this city and adopted the following resolution
Resolved, That the treasurer, agreeably to vote
of the stockholders at the annual meeting held March
10TH 1875, is hereby authorized and directed to pay
dividend of cent on the capital stock of the
company out of the net earnings for the quarter end
ing 30th 1876 to holders of stock of record June 18th,
said dividend to be payable and after Ju,y 1875,
and that the transfer books of the company be closed
July. The New York stockholders will be paid at
the offcebf the Union Trust Company, and Boston
stockholders at the office of the company in Boston.
The declaration of this dividend caused some dis
appointment among Spectators on the Stock Tx
change who had been looking for a larger dividend,
but all things considered the directors have done
what is really the best for the interest of the stock
holders and the company The large and increasing
earnings warrant more liberal dividend than u per
quarterly or per cent per annum but there is
nothing prevent the directors increasing the rate
of dividends in the future, which will be done.
Stocks during the afternoon were heavy and lower
with decline in price ranging from q A per cent.
The leading features Union Pacific, Lake Shore,
Western Union, Pacific Mail and Northwestern. The
first named fell from 794 "a III and recovered to 76s;
Lake Shore declined from 70 q 59s; Western Union
to 17s; Pacific Mail from 36a q 345, and Northwes-
tern from 405 q 40. There was subsequent recove-
ry from of a II pei cent. in these shares Erie sold
at 1871 q 175 q 1873; Illinois Central sold at 1914.
against 1901 at close. Other changes confined
within radius of q per cent At the second call
the market quiet and firm. The market was
irregular at the close, and in the main weak. The
principal activity was in Union Pacific and North
Western. There was less activity and excitement
and reaction was natural in view of the sharp ad
vance yesterday The total TRANSACTIONS at the Stock
Exchange aggregated 33s, 40 shares, including New
York Central 300 shares Erie 400 shares, Lake
Shore SO, 700 shares Northwestern IT, 700 shares do
preferred 200 shares Rock Island $500 shares. Pacific
Mail $1,000 shares, Milwaukee & st Paul 230O do,
preferred 400 shares Ohio & Mississippi 64OO shares
Western Union 81, 900 shares, Wabash 1900 shares.
Union Pacific Al 300 shares.
The following were the closing quotations of Gov