The New York herald., 1879-02-24
FINANCIAL and COMMERCIAL.
Review Of the Weak Stock Market
Active and Generally Strong
The Money and Exchange
Markets.
IMPORTS AND EXPORTS.
WALL STREET,

SUNDAY, Feb. 49, 1873.
That general holiday, "by statute made and pro-
vded," should have docked off one-sixth of the
weeks business by shutting up the Stock Exchange
saturday. of particular consequence to
financial circles since the preceding fvesxths of the
week had furnished little more important than
brokers' market. Speculation rather inclined
to swirl in eddy. with prices circling round
from high points to low and back again to high
ones, than to fow steadily it had done during
the first weeks of the year. The settlement made with
Jay Gould by syndicate of prime spectators which
relieved him of some 100000 shares of Union Pacific
and returned a qud pro quo in the shape OF North
western stock, acted like teeter to elevate the
prices of the former security. while it de-
pressed that of the latter The general mar
ket having for long time back taken its cue from
the Northwesterns. was inclined to do so STILL with
the natural consequences to follow of mixed values
considerable feverishness and great irregularity.
Nor matters mended by the action of the North
western directors in declaring quarterly dividend of
1Z per cent upon the preference shares while the
common sort was left out in the cold like street
Arab. Hence there occurred free marketing Of the
stock by disappointed holders. who. after ALL
only following in the steps of the great spectators.
who had been sharp enough to sell out before them.
It otherwise. however, with the preferred stock.
which firmly held and advanced at the end of
of newly formed pool. Western Union was one
of the most active stocks of the week. Up at
ono time to los and down at another to 102,
it alternated, like sufferer from malaria, between
the extremes Of chill and fever. It received its
doctoring from Washington, and 1t yet remains un-
certain whether the practitioners in the Senate by
the passage rejection OF the "Butler amendment"
will kill the patient. The most material ad-
Of the week in Missouri. Kansas and Texas,
Kansas Pacific. and the guaranteed leased lines Of
Delaware and Hudson. The opening of the Indian
Territory is regarded sure to come if not by the
action of the present Congress- at least by the next
and the stock of the Kansas and Texas road being
extensively bought up by parties who content to
hold 1t against the good time coming Kansas Pacific
advanced in sympathy with the rise in Union Pacific.
the reasons for Improvement in the latter attach
ing to the former well. Erie perhaps
the steadiest and strongest stock upon the list,
the report of its having leased the Atlantic and
Great Western road-thereby controlling communi-
cation with the West and Southwest-being reafrmed
with much appearance of probability. The coal
stocks again in labor the combination ques-
ton. but nothing brought forth from their de-
liberations that in the least satisfactory. Mr..
Packer. upon whom great hopes founded.
appeared and disappeared, and turned out to be
altogether ,Idicalus INNS so far as helping things
to satisfactory conclusion went Consequently
prices which had advanced receded, and quotations
at the close only moderately steady. On Friday
afternoon, however, everything looked better, and
the market closed strong and buoyant.
The opening prices of stocks Monday last were
as follows :-Deaware and Hudson, 44k; Western
Union 100; Pacific Mail. 1879 Erie. 26; New York
Central and Hudson River. 11s; Lake Shore TN; ;
Morris and Essex, SO; Northwestern, 63i4 North
western preferred s9& st. Paul. AZ; st. Paul pre-
ferred, s4i4; Delaware, Lackawanna and Western,
81; Michigan Central. s94; Rock Island. 1873; Wa
bash, 221S; New Jersey Central AN c., C. and l.
c., b5A; Union Pacific 69h; Hannibal and st. Jo
seph, l5h; Hannibal and st. Joseph preferred 43I ;
Ohio and Mississippi. l21 Ohio and Mississippi pre-
ferred. 39
The closing quotations at the close of the Board on
Friday afternoon, which, as yesterday a holiday.
ara tho ri 1osino nuotafiops fort no weak were.