The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-02-26
GOLD LOW ER--114 1-8.
Money Easy, Foreign Exchange Dull, Govern
mems Steady.
RAILROAD BONDS ACTIVE
WALL STREEr.

THURSDAY. leo. % -6 r. NJ.
Measuring the stock market by It's closing prices
yesterday and today it vii! be observed tnat tue
prevailing tendency Is downward. Notwithstand-
ing the earnest efforts o. those VINO have endeav-
ored TO muse strength ana confidence, they have
been checked by stronger element that repre-
SCENTS an apparent belief in s lower figures.
Pacific Mai continued its erratlc movements;
Wabash has become more or less gamble. under
the adroit manipu alton OF an operator long
known to the stree; Lake Shore Is reported to
have sunered 1urther decline IN earnings for the
third week In February amounting to 100000;
the New YORK Central loss during the same
period OF $4,000. ana large failure occurred In
she sugar trade Thus
INCIDENT AFTER INCIDENT
contributed to the CONFUSION OF judgment and
aided the distrust that has o. laie attended the
fluctuations OF the market, making it difficult for
even well disposed capital TO resist successfully
the pressure OF events. how long this condition
OF affairs must be endured no man can tell, yet
there can ne little question that we are on the eve
ofimportant changes. They may not occur Tor thirty
or sixty days. The great railways may carry pas
sengers. as they advertise. from Cincinnati to ST.
Louis for 81, ana the utmost bitterness OF compe-
tltiOn may manifest Itself Tor the moment aud be
attended with great loss; the banks may con-
tnue to extend their line OF discounts aud take
10r security otpreciateu paper, lue sAlai
OF the country may plead
POVERTY
and refuse to pay their debts. and, as conse-
quence we may near Of allure upon failure In the
great commercial GENRES. Sundry corporations
may DO driven into bankruptcy, or, as In the in
stance OF Toledo and Wabash, pass under the rod
OF the receiver; but in the end there must he
change. Our country may go backward for
while, because we cave some penalties to pay for
past rashness and exlrayagance; but reaction
must f0llow-!olow somehow and follow some
time. The laws OF trade are Interchangeable. Vi0-
lated, they orlng their own punishment; but IN
all the history Of the world this punishment has
oeen succeeded by stricter obedience, and the
happy consequences OF good behavior
THE MARKsr.
At the opening OF the stock market ana for an
hour thereafter prices were unsettled. Surse.
Quently q movement was inauguraied In Pacific
Mail and 1t became the leader Il the day. 1t began
At S3H and sold steadily down to 31z. From this
point reaction commenced and the stock sold up
TO 33K, with close ut 327s. About 65, 900 shares
changed hands. Next IN point OF interest was
WABASH, wnich opened at TX, sold to IL, declined
TO l0K, seller GO; advanced 10 1lA and closed at
Tx. Western Union was likewise active but
without very important change. The opening
price was 49, the highest 7SX. after which
It fell to Tx, with recovery to
TAX, the closing price. Northwest common
sold 1t AK 42H AK a AK. The preferred
was steady ut 54h 545s. Erie sold at 277s q
AK, the decline being in sympathy with that at
London. ONO ana MISSISSIPPI was under q cloud,
opening at o6 and gradually receding to IS on
business OF about ,0o0 shares. Union Pacific was
active at 4OA 403f. 1t was said that "puts" for
90 days to the amount Of 10, 900 shares, sold
by one operator at 40. Rock Island was quiet &C
10A 1887. st. Paul common was 34Sl q 34h
SAX. The preferred stock closed at SAX. after
sale at t3X Hannibal and st. Joseph solo at 20H;
Chicago, Burlington ana Quincy at l05; New Jer.
sey Central, IN small lots, at log. Michigan Cen.
trail fell Oh from u TO 7O2< and closed at III Pan
anna sold at liz a ll2,i. Canton at 6as<.
THE SALES
to-day amounted to ABOUT 100, 900 shares, and
were distributed as follows:--New York Central
and Hudson, 800; Erie, 1890; Lake Shore, $50;
Northwestern, 1890; Northwestern preferred,
7o0 Rock Island, 300; Pacific Mail, "a, 300; st. Paul.
1900; St. Paul preferred, 200; Ohio, 10000;
Western Union, 1880; WABASH, 1880; Union
Pacific, 13.4oO; G., o. aud !. O.. 200; Panama, 100.
ADVANCE AND DECLINE.
Tho following are the changes In the closing
prices TO-DAY compared with those OF yesterday
ADvANcE-New YORK Central, Y; Delaware and
DECLINE-Atiantlc ana Pacific preferred, X;
c., q. aud /. c.. y; krie u; Lake Shore, X;
Northwest, 4; ONO and MISSISSIPPI, III Pacific
Mail, "; ST. Paul. "a; Wabash, q Atlantic and
Pacific Telegraph, u; Cod, y Erie in London, x.
The stocks that renamed steady were Hannibal
and st. Joseph, Quicksilver. Rock Island, Union
Pacific, Western Union, Canton and Northwestern
HIGHEST AND LOWEST PRICES