The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-05

Subsequently the buliish sentiment weakened. and
gold declined 10 llo1s the quotation stan ling at
time In the afternoon llo's l1o1s, although II
closed at ll),5 1905 The course OF the market Is
shown in the tablet
10 A. M..;:.........lloh lP. M...... ......lloH
1850 A. M..........uOA 2P. M...............1i0A
u A. M........iiSs a.: M............, ios
12:4J L. M...........l10k $50 7. M.....i10& ilU1
In the gold loan market the rates ran ed from
four cent for carrying fiat for borrowing. The
operations OF the Gold Exchange Bank wcIe as fol-
lows
G"id sal o oo,
uou oa.ais %. Zs'oVs
The steamers which sail for Europe tomorrow
have about Sij 900 IN specla engaged.
GOVERNMENTS STRONG AND HIGHER.
The govern uen list was strong on .Le reaction In
public feeling the Treasury programme FOR the
current moath wnich IS rea, more acceptable
than would nave peen the Startling affair which the
rlmors OF the street had magniicd ont o. the att-
tude OF Mr.. Boutwell, as regards the money market
and the new loan Tomorrow the Assistant
Treasurer will initiate the April pro ramme with
the purchase Of three million, OF Gve wenies, Tor
which, it is said he viii pay IN legal tenders,
while hs Will, OF course, accept national bank notes
for The two millions OF gold to be sold on Thursday
The efect will ia to ada Ave millions to the legal
pollcy throughout the month viii a al eighteen mll
lions to their reserve ana enable The Danks on the
1st Of My 10 expand tier loans If 80
dspo5eI over seventy millions OF dollars
And In this cllcnlltlon no account Is taken
OF tue probable ret OF the many mllliOLs which
went away TO the country IN Mach aud are now
comma back 10 The city again. The chief rise was
in the '6.'s, which sold AT H., when god was 110A,
or only u per cent less Than par IN gold. The lo-
at the close being q shade ''onn :-Uniied States
currency SKIES, So ll5H; 40 skies, loel reeis-
tered. lle'S li6s; do. no., coupon. ll6s.. 16,z;
do. Gve-twenties registered, May and November
1924 109s: do. do. 1852, coupon, do li2A l12T;
do. do. 1854, co. do. 1l2X ilc do. do, 1855, do.
do, 1875 1l2A; DO DO, registered, January AMI
july. ll1h ll1ss: do do, 1865, coupon do, Ill
MS; 90. Co., 1867 do. do, ll1K 111s; do. do.
1865 do DO, NIX ll2; dc. tenortes registered,
ltsA l.sH; do DO. coupon. losa4 soSH.
AN INCONSISTENCY.
The Secretary Of tine Treasury has ordered the
calling IN. during the next tnrts days. Of another
nstalmeus OF the three per cent certificates. the
amount TO be cancelled Icing three millions OF dol
iars. THESE obligations bear only three per cent IN
tcrest IN currency, while the fve-tweniies bear
per cent in GOLD. why not Apply the three millions
TO the purchase the latter and save three Ier cent
per annrma or course the law now requires the
purchase OF three per cents rs last new banks
are organized, but that law was the suggestion Of
MI. Boutwell,
STOCKS STRONG AND ACTIVE.
The probable plethora OF money at this centre
during the ensuing summer aud the speculative
mama which II Is likely to pegct upon the Stock Ex-
change have been foreseeD by the cliques who have
been struggling desperately the past lew days to
buy stocks. The great 'bear" combination OF last
winter. finding that further pursuit of their
acrics would probably ruin them, made a
compromise ON their short contracts, ana
settled ut heavy loss as has been already re-
corded IN this CO uml. Tle same party procured
a taclt promise from their former rivals, the 'oulv
cliques. not 10 interfere with them IN a raid upon
the market by which they 10 get stocks at the
expense OF outsiders and weak and timid holders.
As faithfully narrated in the HERALD this grand
scoop" was made yesterday, the ''bulir cliques
standing aoor and letting their new allies break The
market The ciiques are now situated IA they we're
In ls6S69 before the quarrel Of the Vanderbilt aud
Lockwood clqgcs Tncy arc all In tile same
boat and Intend to take advantage of the pros
pcctivc inlati II I The eDsu ng summer Specula-
ton has Its recurring years. ike the cranberry and
blackberry crops The year 1871 Is Likely 20 witness
repetition VI 1s6S-69. The pane OF "Black Fri,la,n
was the elimination OF the imitation In the latter
case. AFTER tue panic stocks went unnaturally low,
owing to the European aud he great "oear-
campaign Of last winter. They are now likely TO adj
vance much the direction. In the campaign
OF lSo 20 ROCK Island rose to l4s Lake shore to
10, PittsDurg 10 III, Northwest preferred TO 1905
81. Paul preferred 10 ia, wabash to 50 and Har-
Iem 1855. In The depression OF Io697o Rock island
ie to 90. Lake Shore TO u.s. Pttspnrg to 50. North
west preferred to so, st. Paul preferred to II,
Wabash 10 s3 an1 Harlem 10 III. The pa
tent observer OF the periods Of cob and
nood tMes IN stocks must be struck with
the regularity of their RECURRENCE A consistent
policy with reference to tals great fact nls NIL.
the wealth OF the great operators al the Stock Elk.
change, and compliance with It's suggestions was
the secret OF the Of the famous Rcardo-tne
1loyle, 50 10 speak, OF the game NJ speculation
whose operations on the London Stock ESehange~
an intuitive cairvoyan power OF seeing tho future
course OF prices. lack o. consistency lost
one or the chief spirits Of the market the
prestige ana wealth wUch he welded Tor Inc past
two or three years ana To which he had risen alter
a decade Of III luck and poverty. when the recur
ring tide came he committed the error oI abandon
ing The curront while 1t was still leading Onward
and wnen It was llkely TO retrio all his interme-
date mshaps and make lin wealtr.er and stronger
Than ever. His Inconsistency startled the numerous
friends whom he had loaded VITA points" Our.
readers VIII rememDcr the Filth avenue
Hotel meeting TO pass resolutions OF indignation.
Rumor has IL that further developments OH the sub
jcct OF 'poinis" VIII be elected IN the The
mysterious and devious course OF the famous "Pic-
nic SKIES VIII 10 explained for tho great edifcaton
OF the community la general. The great feature 10
day was Reading. when advafc'd T. lOs9S. Inc
Improvement M the genera a. nxed rom n 20
80 per ccnt.
HIGHEST AND LOWEST lIIcRs.
coy
prices OF the leading active stocks during The days
Hyitess lowesx
New York Central AMI Hat. cJas0i.. ~ o.
New York Central and ne' s.'"" g-~ VI