The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-03-07
FINANCIAL AND COMMERCIAL.
The Stock Market Strong and Bust
ness Prospects Encouraging.
THE BANK STATEMENT
Money 2 Ia and 3 Per
Cent and Gold 115.
WALL STREET.

The brokers OF Wall street were to-day in a
happy frame OF mind. consequent upon renewed
interest on the part OF their former customers in
speculation and the evidence afforded by fresh
orders of an outside faith IN an advancing mar
ket. The change for the better during the past
week in various stocks that have heretofore been
comparatively llieless, the heavy transactions re-
corded from day to day. and the generally firmer
uncertone that has been exhibited would seem to
indicate a recognition by the public Of the reac-
ton that has set in, and a belief that all depart.
ments OF trade Will soon begin 10 show signs OF
recovery from past depression. The process may
DO tardy one, because commerce invariably
Obeys law, the operations or which are slow
but 1t Is nevertheless CERTAIN and the great mass
OF business men both here aud in the West ex-
press their encouragement at the fact The
MOVEMENTS IN STOCKS
to-day we're erratic and indicative OF strong an
tag0nlstc influences, so that the aspect the clos
ing hour AFFORDS no hint to the character OF the
future market. Yet 1t Is significant that the nnal
prices again show an advance upon the previous
days work. and an important gain for the week.
Much interest centred in Western Union, which
opened At 766, advanced TO 76, declined to IS
and closed at 75H. Concerning this stock various
reports were in circulation, chief among which
was one to the effect that the company had bought
out the Atlantic and Pacific Telegraph Company
rowed from those who have held the same for
q long time, and who have become. per-
haps invountarily, party TO an exist
ing large short interest. Northwest COM
mon was again actively dealt in,
and was more or less excited. The opening figure
was 43A. from which 1t advanced to Az. This
was followed by q recession to 431S and close at
43X. 1t may be observed in connection with this
stock that 1t is generally understood that negota
lions are In progress whereby the corporation
may admit in It's direction representatives OF the
Union Pacific Company. and thus secure to the
Northwest road the monopoly Of the large busi-
ness of the former corporation between Chicago
and Omaha. This Is one Of the reasons given for
the recently exhibited strength. Wabash was
likewise extremely active, upwards OF $4,000
shares having changed hands. the range OF prices
being from IA to 15H, with close at l41I.
Union Pacific was very strong, opening
at 43T, advancing to 445s and ending at Az.
Lake Shore sold at TAX TAI . "a. Ohio and Mis-
sisstppl advanced from 261a to 2775, ending now
ever, at 26X. st. Paul common sold at 343s a
SAX and closed at S4X. Northw estern preferred
moved up to 55I. Erie was without important
change. selling at q 27I 274.
THE TRANSACTIONS
to-day amount to 262 600 shares which are divided
as follows New York central and Hudson, 100;
Erie, 5000; Lake Shore, 1850; Northwestern,
5000; do. preferred, 1905 Rock Island 500;
Pacific Mail, 20, 700; ST. Paul, 4.5o0; do. preferred.
1000; Ohios, $4,000; Western Union, 10000; Wa
bash, 80, 200; Union Pacific 29, 700.
ADVANCE AND DECLINE.
The changes between the closing prices yester-
day and to-day are as follows:-
ADvANCE.-Atlsntic and Pacific preferred, n;
New York Central u; c., .. and |. G.. a: Della.
ware ana Lackawanna, y; Erie, "a; Hannibal and
st. Joseph, l3s; Lake Shore. y. Northwest COM
mon, u ; Ohio and Mississippi, "; Rock Island a
st. Paul common q; Wabash, %; Union Pacific,
e; Western Union, y; Northwest preferred, q.
DECLNE.-PacifC Mail, "a.
The stocks without change are:-Harem, Pan
anna, Quicksilver, Atlantic and Pacific Telegraph
and Canton. Gold was likewise steady.
OPENING, HIGHEST AND LOWEST PRICES.
The following table shows the opening highest