Year: 1874

OF Iurtner advance IN tfe Dank rate OF discount,
have created more activity in the gold market. at
tended by an advance to 112a the closing price being
ll2. which is rise of per cent since last Saturday
United States bonds have been in good request
during the week and have improved from to per
cent. State bonds have been inactive. and in rail-
way mortgages Of the botter class there has been
fair business at firm prices.


In stocks we have had what NAV be properly
termed an irregular market, Chicago and North
Western, st. Paul, and Ohio and Mississippi having
been the leading shares and closing respectively 81


and per cent above the opening prices of Monday
morning. These stocks have apparently impaired
strength and tone to what otherwise would perhaps
have been a weak market. The Street is at fault
to the basis of the strong upward movement in the
two first named stocks, and perhaps but few of the
speculators care what it may be, each being at
present content to play the game of follow your
leader" and thinking himself smart enough to get
out first when the tide turns. 1t is very evident,
however, that there is strong party making stren-
uous efforts to bring in buyers especially for
Northwest, which has far been attended with
partial success and to what extent the movement
may prove still further successful in the absence of
any solid grounds for enhanced price, remains to
be seen There is no pretense that either of the roads
named is doing well even it did last year, and
there is not suggestion Of probable dividend on
the preferred stocks of these companies that of st.
Paul having been passed last October without even
being discussed by the directors. That of North
West is due (if at all the 1st of January, at
which time it will be IS months since it paid its last
dividend. Nevertheless the common and preferred
stocks of both these companies closed "specula-
lively strong" Ohio and Mississippi had sold as
high SO! before it was announced that there would
be no dividend upon the preferred stock the 1st
of tha date IN hn rnor he
fore it was announced that 1T will henceforth pay
preferred stock dividends semi-annually March
and Sept l. as earned" and that it had got rid of its
floating debt and increased its bonded debt $4,000
since last report of June 9O 1874. The latest effort
to galvanize Atlantic and Pacific Preferred shares
into life seems, like the attempts which have
preceded it, doomed to failure 1t is the
usual fate of pet dog in the hands
Of q spoiled child, to be fed and petted
at one moment and beaten upon the head with the
pap-spoOn the next. The stock Of this company is
the pet dog of the spoiled children who own and
control it. At one time it goes begging at 10, at
another it will be what is called active at 12 and
may be rapidly carried from that point up to Is or 20
without exciting any ones Especial wonder"
heavy operator now retired. sadder and wiser, if
not better man. once brought out this stock at 80
OF thereabouts and attracted to it large number of





money again. The leading operators however ac-
cOmpshed their purpose of converting few thou
sand shares at good pnces INTO good money; and
having further object in maintaining the quota
tioD the stock dropped like eaden ball. and for a
long time the days list would contain record of
the sale Of single share of the stock. The symp-
toms of its recent rise observable in the early
part of the present month when the quotation was
down to y and there no takers nor sales, fcti
tiOus otherwise, to speak of. Soon after there
sprang up an apparent demand for the shares and


the price has since been carried to 49, So far does
not seem that the public are buying, and unless
there are substantial reasons for the rise, based
upon an improved condition of the Companys
finances or business, the latest movement will,
did every of its predecessors, prove to be but
spaSm. in fact the quotation is already upon the
down grade and the indications are that the manip-
uators have for the present abandoned the effort to
make market for this stock. Lake Shore, Wabash,
Union Pacific and EIie all show at the close a de
cline from the closing price of last Saturday and the
opening price of Monday, although the three first
named bad at one time been higher than at the
opening. Western Union Telegraph is II per cent
higher, and the Quicksilver stocks have each adj
vanced handsomely on the declaration of dividend.
Pacific Mail has been steady with small fluctuations.
On the whole the market NAV be described as what is
known as "a brokers' market" with certain Of the
stock under the control of cliques who anXiOusly
looking for the price at which they can market their
holdings, market in which the general public seem
10 take but little interest The subjOined table
shows the extreme fluctuations III United States
bonds the leading railway and miscellaneous shares
and gold, made during the past week, as well as
the closing quotations of each at the dates under
and The total number Of shaies Of each
stOck s0id