Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-03-09

Excitement Unparalleled = Scenes
TndescribabHe-TheB Bears UPrOar.
GUS.
New YORK, March e.-The excitement
in the gold market to-day was without
parallel since September last, the anxiety
to sell gold assumed the shape of mania,
and its equal has never before been wit
messed in the room Fluctuations were unu-
sually frequent; the dial recorded nearly
one hundred changes during the day.
The scene was almost undescribable Tho
crowd of operators surged too and fro,
cheered each decline of and J per cent,
venting their feelings in screams and yells
Of delight.
An Extinct Animal
There was not bull TO be found in the
room, and at times premiums were offered
| for the sight of man who thought gold
cheap. The old room was crowded the
entire day, while on New street a large
crowd watched the changes of the dial
with great interest. Everywhere in inan-
cial and commercial circles the gold ques-
ton was the great topic of conversation,
and the continued downward course was
felt through all ramifcations of business.
As We Go BobbIng.
The excitement in the Gold Room was
intensified by kilograms from Washington.
One that Senator Williams had introduced
a resolution to receive part of the customs
in greenbaeks, which was followed by
another that Mr.. Fowler wanted all the
surplus gold in the treasury sold and the
price tumbled to 1105. A telegram was
next received that the House Committee
on Banking had agreed to report bill in
favor of $50, 000, 900 more greenbacks, and
up went the price to 111s The report was
denied and down went the price to Ill.
Then it was reported that the chances for the
funding bill in the Senate were less favor
able, and back went the price to 111k. At
the close iii was bid and 111a asked.
Governments and Stocks.
The greenbsck prices of Government bonds
were seriously affected, and heavy decline
took place; '67's selling down to los; low
est point for long time past. On Stock Ex-
change, effect not so great, owing to the
great effort of the bull clique to prevent
the stock market from sympathizing with
tho surrounding depression. The market
at times fell off but was prevented from
breaking by persistent effort Of the clique.
Dry Goods.
In mercantile circles the decline in gold
had a tendency to further unsettle bust
ness and weaken prices This is particu-
larly applicable to the department of dry
goods, whose leading jobbers are still
offering bargains in all styles 10 induce
trade.
Provisions.
The Produce Exchange was demoralized.
Wheat heavy and lower, notwithstanding
an advance in Liverpool. Flour heavy and
declined. Provisions decidedly lower, with
a very unsettled market. Pork falling off
&c and Lard &c, in open market.
Cotton.
There was a heavy decline in cotton, and
midd,ing uplands were &c lower, selling
at p iic on the spot, while low middlings
sold down to 19lc; New Orleans 1926 for
April and May delivery.
Specie Payments.
The Express says the State Comptroller
has given a careful opinion on the subject
of demands for payment in coin by own
ers of mortgages held by savings banks
and other Institutions His judgment is
that specie payments are not required. The
opinion is in reference to certain mortgages,
the payments Of which is demanded in
coin.
The same paper says large portion
of the gold bonds of the Chicago and
Northwestern Railroad Company have al
ready been marketed. A large demand ex-
lists from Europe, particularly Amsterdam.