The New York herald., 1869-03-24
FINANCIAL AND COMMERCIAL.
TuEspAY. March 2a-e P. u.

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TUESDAY, March 2s-eP.M.
Tho great feature Of Wall street to-day was again
that mercurial stock, New York Central, which at
the close sold freely at lo4. Considering that 1t IL
just exdivdend this is the highest gure 1t has ever
attained. As compared with yesterday IT s rise Of
ten per cent an advance ruinous TO scores OF the
'shorts" who sold IT during the recent decline As
far as can be ascertained this grand ooulererse-
ent is the result Of well contrived piece Of strate
gy originating with those adroit operators the Erie
clique who, during Friday and Saturday
last, made use OF the anttpathy OF the
legislative .ringn to Mr.. Vanderbilt to In
duce everybody to "g0 short" OF the stock.
They led the movement themselves by freely selling
for their own account but doubtless took care to
secretly The street fell into the trap quite
easily. especially as number OF brokers who have
done business for Mr.. Vanderbilt were also among
the sellers. The injurious effects OF the pro rata
freight DILL which pending the State Legislature
were magnifed TO their greatest extent and the
word was gwen that Central was gong down from
twenty to forty per cent. An immense short In
terest was thus developed, which attempted TO
cover this morning. The opening price Of the
stock was 1851, from which 1t rapidly advanced,
under large purchases by those to whom the
point was given, on the other hand. that
the Jencks suit had been withdrawn and that the
four per cent interest on the eighty per cent scrip
was lying IN Duncan, Sherman 4 Co.'s ONCE, ready
to be paid on the presentation Of the certificates
The excitement among the shorts' at this piece OF
intelligence became very great. The fear OF
'corner" induced them to cover at immense losses
The 'bearsn sold at each successive step OF the ad
vance, and thus kept up the hight, which is likely to
result IN most desperate battle during the ensuing
two or three days. From the fact that q number Of
the members OF the Legislature have been seen In
Wall street during the past week 1t Is conjectured
that the Albany "ring' who were arranging for
grand 4break" In Central nave been sorely disap-
pointed over the turn which the stock has taken.
While they were planning for revenge upon the vete
ran Commodore he has .'twlsted" them IN manner
which win vvidly recall to their minds the fate Of
their predecessors who badly used up in the
famous Harlem corner" To-day, the telegraph In
forms us, they were in conclave over the pro rata
bin, while their great enemy was quietly laughing
IN his sleeve at their futile schemng. The eject Of
this advance was sympathetic upon the whole
market, and prices rose from one to four
per cent. Pacific Mail went up to % and
Rock Island to 13S. The Northwestern stocks
rose steadily all day. and the common had advanced
to s5K at the close. Hudson River and Harlem were
less buoyant owing to the fear OF pro rata. Pacific
Mall reacted late In the afternoon. Erie was active
In consequence Of the positive intelligence given by
Opening at 33Ss 1t advanced to 3oA, but receded
later in the day to 35A. Jay Gould sent report to
the Assembly to-day Of the affairs Of the company,
in compliance with resolution passed last week.
he reports that the exact amount Of common stock
outstanding March 10 $751; 785, 800; preferred
stock, $S,636,9l0. the funded debt Is as fol0ws:-
First mortgage bonds, $3,00o0o second do,
$40oO000; third do, 0o0, ,000 fourth do, Al 00O
sixth do, s0266oO; Bu1alo branch mortgage bonds,
s1S6, 400; sterling convertible bonds $4s44400 The
coating debt OF the company is SO nuctuating and
uncertain from day TO day that 1t is impossible to
state the amount accurately.
II will be seen by the Washington kilograms that
the Senate has passed the bill to authorize the secse
tary Of the Treasury to anticipate the payment OF
the coupons on the government bonds to the extent
Of SIX months interest. The Committee on Banking
and Currency had an interview with Mr.. Boutwell,
to-day. A correspondent says that the committee
informed the Secretary that effort would be made
TO pass the bill for redistribution Of the national
banking currency before the close OF the session.
Mr.. Boutwell, said II that was done he did not know
Of any further legislation necessary at this time
der that head. He thought, however, that Congress
should not adjourn without passing the BILL, As it
was needed as q measure Of relief TO the different
sections Of the country.
Governments were weak and lower to-day, the
e2s declining to 11s. There is support whatever
20 the market. The large dealers, having sold their
stocks are unwilling to replace them except ct
concession in prices, while the foreign bankers have
all they wish In the amounts recently purchased,
the London and Frankfort markets being well sup
Piled as the daily quotations from those points indi
cate Capitalists and the banks desire funds for the
period around the LIST OF April and are disposed to
scn, while the counter demand Ia very limited, the
smaller buyers wishing to use their money in the
various KINDS Of ppylpess which are reylving with
.le Bsginhins 3 db2ins rricss Closed d the street
ut ave O'Clock this evening q fonows:United states
Gxes 1881, registered 1lSx lle; DO, coupon, 1lo
1lek; do, nve-twenties, registered, 11Sk 1lSk DO,
coupon, 1862, l1s 1lsK, do, 1894, 1lsX ia;
do., 1885, 1l5K l1sx; d., new, 1895, 11s llaK;
do, 1857 lis lisK; qo., asos, lls 1isk; do,
isnIorties, registered, 1olK . lolx; do, coupon,
los . 1osk; currency bonds, losx JOSH.
Gold wiz very dull and quiet until late In the after.
noon, when It became active under fears Of
sssaueezeD tomorrow There is very heavy short
interest in the market and the clques said TO be
intent on making cash gold scarce tomorrow.
Loans were made to-day for Clearing House ct from
nve and half per cent for carrying to nat for bor
rowing. In the afternoon loans were generally
made as. The range Of price during the day was
10 A. M.......-... 1a1 1:l2 P: M.......... 1alk
Il HHn.,... lss 1si sP: M......:. MM.. is isi
IP. M............. 1917 5;l5 P. Mum. IsIF
Tne business at the Gold Exchange Bank resulted
~ follows
Gold cleared 500. 402 900
lt41