The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-04-20
FINANCIAL and COMMERCIAL.
Sharp Advance in Panama-Other Stocks
Steady and Generally Firm.
GOLD QUOTED AT 10.
Money Easy and Abundant at Per Cent
on Call-GOyernment and Railroad
Bonds in Moderate Request
WALL STREET,


But for a sudden and large advance in Panama
the STOCK market to-day would have offered little
material for comment beyond the general state
ment that the majority OF prices were a trlne
higher than those OF Saturday, and that the
nndertone is regarded as encouraging BY those
who are on the bull side OF speculation. Whether
this feeling Is due to the ptional rise referred
TO OF grows out OF faith in future strength Is q
question difncult TO determine. The burden or
testimony by brokers, however, favors the latter
superstition. The cause OF the movement In
Panama is not yet definitely known, save 10
lew, and the sales which the rise occurred
amounted to the Insignificant figure OF 1906
shares. The bidding. however, was active, and 1t
was
THE ABSENCE OF STOCK,
or rather II was because the few holders OF the
stock preferred moi to SELL that the unusual advance
took place. The opening sale was made at 1870, at
which price two hundred shares changed hands.
fhe nexs transaction was In shares, on the basis
OF 1876, ana the Others which followed were re-
Spectivey marked at 1876, 4o 142, 145, 147 14s las
and lac. Pacific Mail was the most lively stock on
the list the sales amounting 10 800 shares, It
being rumored that arrangements ha q been salts
lactorilY made between the company end the
Panama directors, but the story lacks conhrma-
ton. The stock opened at AK, declined TO II, ad-
vanced to ASK, receded to as, and closed at ASK.
Aue ISpUTJ was puuLSHeu Thai Tue OCSlueuLdl Auu
Oriental steamship Company (which is said to be
owned by the Central Pacific and Union
Pacific Railroad compantesl have sent out
the first OF their steamers, chartered from
the White star line, to unite with the Pacific
Mail steamers on the Pacl1c side, in bringing
FREIGHT FROM CHINA AND JAPAN
TO San Francisco, from which point the cargoes
will be distributed overland. II this statement
should prove true very important changes may
occur at no distant day Ia the value OF certain
stocks that are now supposed 70 be IN process OF
combination. II Panama, with rs 1orty.nine
miles, can cessully compete with the over
land railroads by running lines or steamers on
both sides OF the ishmus the price OF It's stock will
materially advance. II not, its cnie dependence
wnl be on freights from New York, Europe and
the South American ports. This IS the comment
or throughtful observers OF the street. who DO not
think that narrow lsthmus can possibly hold the
whiphand the commerce OF continent.
Another active stock ofthe day was Erie, OF which
some 81, 900 shares changed hands The nuctua-
sions, however, were slight 3l14 being the Open
3ng figure 3oT the lowest and SlZ The highest
and asst. Union Pacific was dealt IN to the extent
oi SO, 500 shares with q range between Tx and
725S, which was Inc closing price. The kilograms
concerning freshets exerted q depressing effect,
bur these were followed BY more favorable an
nouncements. 0tner stocks we're comparatively
steady as viii be seen BY the following table,
which shows the