The New York herald., 1871-02-28
Governments STRONG.


taffebcy balances. ces....,................. I,s.o11I
GoyEGSMnNT5 sIRoNG
Tie government bold market opened swinlminey
stroag on the announce uen. that the Secretary OF
the Treasury would purchase $4,000, 900 OF i've
twcnties In March, the disposition t. buy being en-.
couraged by tue prevailing sentiment that the innu.
ence OF the Treasury Depa rtmeDt will naturally ue
thrown constantly IN favor OF sucn a movement as
shall SO enhance governments That the way may be
paved to resundiag OF the debt But, az has fre.
Quently been the case, any sudden rise IN prices here
PAGES our market above that of London and gives
the agents OF foreign houses au opportunity 70 order
bonds by cable, the volume OF national securities
I'D Europe beng SO large aEd compact mass and
30 near what IS their full value IN The foreign mar
ket where they are IN direct competition with homo
seeuflucs that prices abroad are slow TO follow the
improvement here. II is this general fact which
explains the less marked advance to-day in govern
mens as contrasted with the great Duoyancy az the
stock Exchange, ana compared with the anlici-
paiions based early IN the forenoon on the first
knowledge OF Mr.. Boutweil's extended programme
for March. Until Europe catches the enthusiasm
which our own marKeS experiences on such ocea-
sons We snail have TO progress slowly
for If We raise our market too suddenly
shan import bonds with every fractional
advance. The influence thus noted interiered with
the upward tendency OF the market to-day afIer il
had improved about oneQuarter per cent, but at
this stage prices became strong and closed so. The
nDal street quotations wefe-Unted States currency
skies, 1888 ll3is; 40. SKIES, 1851, registered
usA lis; do DO, coupon, 1l4A ll5: do
hve-twenties, registered May and November
iI2 1l21l; DO. do, 1889, coupon, do, il2A
lI2,s; do. do, 1904, do do 1l2 NIX: do do,
1863, do. do, H. 1l2l4; do. do. registered,
January and July, III NIX; do. do 1865, cou.
a lg. 40
. 1ll1. do. do, 1865 do DO, li14s l1l5s do. ten
iorties registered. 1854 100; 10. do, coupon
lilTs IL.
STOCKS ACTIVE AND BUoyANT.
After the long duiness Of the winter the current
activity OF The stock market strikes the attention
with all the greater interest aud force The vicinity
oi the Stock Exchange presents iIs oitime look OF
animation, II not excitement The PIT IN The Long
Room is constantly thron led with a dense mass OF
brokers, who are sabdyided into groups represent
ing the dealers in the various favorites. Hardly
more than week ago this crowd was so small
that broker might buy sell half
dozen different stocks without stepping be.
yond n radius Of few feet. Now there
as many dealers in each specially as there were
lately in the whole list, that TO execute q similar
order nowadays he would have to stride the full
iiInits OF the busy amphirhcatre. The advanced
stage OF prices and the progressive character OF the
market recalls the reflection which has been more
tnan once alluded TO In this column, that specua.
ton is vast sea with lowing and ebbing tide
which TO The patient investor brings successful re-
suits no matter which his line Of operation. Like
any rule, this, OF course, has its exceptions.
Is almost certainty that II stocks
ore purchased or speculaiivey sold at any
intermediate general situation OF the market prodt
Will be eventually derived. In other words should
md
Inc recurrent fluctuations OF months or years would
In more than The average OF cases bring profit 10
each transaction II H. only those who have shallow
margins or purchase alter an enormous advance or
sell after an unnatural decline that lose money In
tracing to'iags business we find another
active movement in Western Union Telegraph
which was carried up to 52gl ana there allowed TO
take care Of ITSELF the crowd then running on other
fayorltes Union Paciic, OH the expectation OF an
ADOPTION by Congress or the report the judiciary
Committee, ran mp TO 20. Ohio and Mississippi. In
which there was very heavy outstanding short
Interest sold ct soj4 the sidewalk after The GIGS
ing oltbe Stock Exchange The lease OF tne road 70
thc Baltimore and 0hio Company was OF course the
basis OF this fresh rise although the event had been
expected for months, n not yeays. New YORK Cen.
fral scrip advanced 10 83A. Tine government las
magnanimously decided Lot TO coGect tue revenue
sax; at leaat, such was the report jn TIE street,
on the other hand PaciGc Hai was the.fxception to
che prevailing direction on stocks, for IT opened
weak and suddenly fell ~ per cenlylz., 10 43s--
on Washington despatch that The Senste lad re.
iccted the proposition for an Increased subsidy.
United States Express, which ts the chrome foot
ban OF certain Clique, aud which at 80 was going
down out OF sight because the Erie Company had
1elused new contract over their road IL now.> at
a, going 10 par on tLs renewal OF tbis conrract,
and IN m
borJ, the "sprtng rlser which was 50 decided !
y the ehearsp IN January has fairly set IN, ard the
aAguine '.bulisn assert that stocks hayo only
pcgan 10 rise.r Wnaf Win peace ia Europe, a
Prospective ecilement Of our moral war with Eng. |
md on The Alabama question, eaAy and attendant |
'oney .. prcmlslng s.lgng trade ap1 jiSs stspc |