The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-03-10
IHE com EJNERIL.

The yc-sr' SIN striking Dottom-Tcr"' fc
Onslaught, Of the b'nrs-teariui suite =
iBg- Of the Buiis--pccte Payment Mast
Cone.
The excitement in the gold market the past few
days attracted hrge numbers yesterday morning to
the vicinity OF the Exchange for the purpose Of Wit
Messing the "Rold funeral" Tie galleries. Of the
Gold Room were densely tlronGed n an early hour,
aud New street was soon crowded by surgine
mass, who watched the rarid fluctuations OF the
price with most intense interest. The old nyorile
rasIime Of betting on tao changes OF the dial dis
PLAYED from OF tho windows on New street
Was again reyyol, aud thousands OF dollars changed
hands
Inside the Gold Room. operators we're excited and
doubtful rs to the result Of tie doy's programme 4;
but al pere quick 10 discern that severe struggle
between tie bulls and bears was impending The
great question Of the morning Was whether tie
Secretary OF the Treasury would sell one million OF
Government gold az advertised; and according az
private kilograms were received r. m Washington in
favor or against the sale, tie premium declined or
advanced, being knocked about like football
suddenly falling y 10 per cent, and as quickly ro
covering from the decline
Soon AFTER ~ o'clocs the price ralicd to iiiS nm
der the influence OF elvy purchases bv strong par
ties. aided hv covering OF the short interest. and
the market appeared TO have turned Tor q strong
upward moveneit when at 1870 1. NJ announce.
uent "h1 made thnt I've secretary OF the Treasury
bad acceIted the bios FOR gid This was the 4 nal
Tor the de- perate onslaught Of the bears hicl
mas been witnessed since the famous septenocT
panic. he scene vIicL eusued Ia the GLi1 Room
bafied description.
There Wa an immediate rush TO q Iron railing
which cnCtrCles tho ioun ain operators climbing ovef
each other n their efforts sell out, aud fUi lime
The excitement Has quite eqla 70 the best efforts OF
=" black Fridal - Tie floor Of the Gold Room was
quickly ihrur Scd by member, " the stock fH'h,n
ami others Vile the nails leidirC 10 the Gold EK
change we're 40 den-eiy pa. kod that access u he
Room was quite impo-sih'e jus IN front Of the
Presidents e-S. hundreds vi thousands were being
Soli Il llOs willie at the Same mnmcut Oh e.
other sidt Of the fountain. tn tr1i. actions were
equally rapid AZ li0A ana nor.
10 q space " sS inutcs, from 1910 20 is'te the
price tel roW llOA tp ll0k, and rallied 10 III OF
crs were made TO sell in quarter Of a million lots
AZ llu'.t lluA, llUN, apl llJs AZ the same moment.
At ! O'cOrk u e market became more steady hut
the groti strug IL Of the day aud the prize.
uhder the inhuences OF sirnGg bull movement We
carried up To lli.. About lllfp.st O'Clock.
another shlrp raid WAS made vs. the bears and tho
p'ct Gmckh dtonped 10 llO's, al which Il ure 10
remained steady tll the close. alter touching lluN
Quite lIrrc uutsi le short interest must hive
been created during toe p1.t ltN dIvs and tho CON
trst vii. doubtless, be soon again rrUeN cd. Inc
bun clique, lci sustained the market early iu the
afternoon, evidently became alarmed by IN, meas
lle senate iasi nigh, at u evening session, and
late ~ the Day began tan bling overheard thor run.
clJses, since COLT commenced its decline from l22.
trere have hcou many combinations formed 10 mani.
pul .'e IN upward % ovcueut
one Clique purch sci largely Of in to 49, a
second at llHolnh third 8t lldIMll7, wLilea
hcUilY At llJ. As the puec gradually de.
cincd, these several cliques uuio1Ced a. a
heavy sacrihce, aud then turned bears to
retrieve u.tr losses. The moro recent ,tluft 10
che, the downward tendenc, OF the mar ct wis
euced last Friday, AMI heavy purchases we're
made an saturday aud Monday; bHt Tuesday, this
overheard, tie weakness n f9regn exchange not
laNoTng higher prices ior ne present.