The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-20
FINANCIAL And COMMERCIAL.
A FeveriSh Stock Market Large Sales
and Lower Prices.
GOLD ADVANCED TO ZIG IA
Money Easy at 2 1-2 Per Cent
Bonds Generally Firm.
WALL STREET. |
MEnNrSnAY NAV 10 Il, NJ


WEDNESDAY. HAY l9-6 L. NJ.
The stock Market was unusually active to-day,
and the sales aggregated nearly 100000 shares,
prices being favorable to those who were short OF
securities. Much "coveringn took place, and
profits were counted up by hundreds or thousands
OF dollars Whether the lotion round OF the ladder
has been reached and an early reaction Is TO occur
Is q question that occupies the anxious constnera-
ton ol siecularors. IL Is but proper to observe.
however. tnat all parties feel satisfied that. al
though the recent decline may not have been CON-
plete, II is certainly for the moment sufficient and
hence that extreme caution - a. be employed IN
making fresh contracts. Whatever may be the
arguments deducible IRON natural causes they
ERE mere cipher 20 the moncyed Spectator who
has the ability turn the market at VIII. Chief
attention to-day was again directed to
ERIE,
both IN London aud An erica. Advices from
London state that the price declined rom % TO
2l1., yet rallied alter the close OF the Exchange to
2a}t a2y5. II is also published by cable that the
London BauSing Association deny President
Jewetis statement as TO tneIr having any funds
on hand 10 the credit OF the Erie Company.
Another despatch states that the LONDON Times
To-day eontaius article setting forth that "the
position OF the krie funded and noating debts 10
hopelessly confused, although its AFFAIRS are not
worse than was supposed, and expresses the hope
that the mails viii bring fuller exposition, as
the cable telegram Is m0ddledu The stock In
Wall street to-day was weak. opening at 253S and
declining steadily to 23. subsequently, however.
the price advanced to 23;1 and ended at 231S.
the dealings to-day AMOUNTED TO the large number
OF 100000 snares. The lowest price was 22zs.
OTHER STOCKS.
Another weak stock was WABASH, which opened
at 90, advanced TO 10 and subsequently sold down
to 81, the last price OF the day. The officers OF
the company are reticent Lake Shore sold up
from 66T to 6sh, but at the close Tell Off to 679S
Northwestern common declined from 39T to 3SH
3Sk. Ohio and Mississippi from "a TO 233S. Rock
Island sold rom 1o3H down to 1927, closing at
1929. Various reports come from the West con-
corning the possible future raids OF the grass
hoppers and have been used for the purpose OF
depressing the price OF securities which are iden-
titled with the States in which this insect runs
riot. Missouri Pacific and Atlanric Pacific pre-
Ierred are said TO be sufferers from this cause.
Union Pacific sold at 75z a 76k. closing at 70.
Pacific Mail advanced from 37T TO 3S1S, and ended
Mt 3Sh. lair sustaining movement has been
shown by the friends of this stock. Western Union
advanced from 76X to 77H, and closed at Tx.
Atlantic ana Pacific Telegraph was generally firm.
IL reiterated to-day that the steamer Faraday,
auer having buoyed the cable, mas proceeded to
Sidney, Nova Scotia, where sne has taken in coal
OPENING HIGHEST AND LOWEST PRICES.
The following table shows the opening, highest
.law