The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-28

length received to sell two millions gold began al.
vancing, and before the close OF business sold al
INK. The course OF the market Is shown In the
table,
Il Il A. A. MM::1 11SS aP n .11G''
TN A. M.....31Ss s;sS 7. :1ls
ESQ p M..'.'..'..i1ii9h s sP; ;;...."...nl
In the gold loan market the rates ranged from
per cent for carrying to Lei for borrowing. The
operations OF the Gold Exchange Bank were as fol.
lows
Goi9 cleared. 81 251. 200
uOlu ualInCcs. 1850, 16S
Currency balances. ................ -. 1,2Ol ma
Much confusion prevailed as to the specie ship
ment to-day At first 1t was reported that the Hansa
mad $4,000 in coin on board and next it was an
n0unced that the consignment had been withdrawn
Finally, however, it stated that the steamer had
| sailed with the money on board.
GOVERNMENTS FIRM AND HIGHER.
The advance in gold, coupled with strong and
better market for the 1ve-twentes in London led to
an active upward movement In the government
isl and the establishment OF higher prices The '62's
| IN London were reported 9O7s 90H. The Assistant
treasurer paid out to-day for May interest $780, O0O
making total disbursement 80 far On this account
| OF So, 000o The subscriptions to the new loan
reported at the Treasury were $780, o0o making the
| total 80 far $60,S7o,75o. The government market
on the street closed at the highest points of the
""y 40 1onoWS'-Unlteu STATES currency EIXeS
ll0k 1162l; 90. skies, 1884, registered, 1leX III;
do. DO, coupon, 1lo7s III; do 1ve-twen,ies, reg.
stered, May and November lloh llOl; do. do,
1862 coupon, do, ia ll4jS do. Co.. 1884, do. do,
ia ll4'S; do. do, 1885, do do, ia 114S; do.
do. registered January and July, 112< O ll3; do.
do 1855, coupon, do. 1127S 113; do. do, 1867,
90. do, 1127t 113; do. do, 1885, do. do, 1922: a
49, do ten-fortes, registered, 1883 1857; do. do
coupon, 1905 a 1924
ANOTHER HEAVY DECLINE IN STOCKS.
Tne situation Of affairs at the stock Exchange
grows In interest every day. The calm aspect and
improving tendency so noticeable yesterday gave
place to-day On old-fashioned "bear,, market. IN
which stocks were tumbled out IN large blocks at ra
pidly falling quotations. The Decline indeed, at one
time assumed even closer resemblance to panic than
during the previous 'breaks" despite the fact that
the street mad Deen IN measure to look Tor
arepetitlOn Of q "scoopn at any moment. But q new
element has been introduced into the market, and
entirely fresh influences are now at work. The
"bulf' clques are confronted by powerful organi.
cation working IN the ''bearn interest and repre-
sentng many Of the boldest operators In
short Interest" 4,lsJ3Mdlo cllones. in playing
the host OF outside dealers, whom they frightened
into selling long stock and caused to turn 'bears"
council Of the bullsn was held, and reversal Of
their tactics determined upon, With view 10 con-
cillating and bringing back the public. Hence
western Union Telegraph was run up to ok. as
signal that the whole market was to be advanced.
But meantime the Daniel Drew party-who had
covered and gone long month ago, when Lake
Shore was "dropped' from 1O3 to o91l-sold out
their stocks to the "bulls," averaging about ITO
for their Lake Shore, and then went 'short" rally
ing around them all the disconnected small "bus''
who had been SO badly treated by the "bulr' cques
TIE 'sbear, party have now declared war to the
DEATH and their first attack was made today were
1t not that the "bulp cliques betrayed so much
genuine socitude for the fate OF the market the
SUSPICION might be fairly entertained that they
are now unloading, as they nave often
done before, through the pretended sales
of the "bear, cliques. But either there
is moe trickery possible IN mankind
than sis dreamt OF IN our philosophy" or the con-
test Is an open one between two great rival COM
| binations Should the fight on the 'bcar'' side be
as honest as it pretends then the 'bush in taking
all the STOCK offered on speculation ana hold'ng IL
In addition to what they are already reputedto pe
carving have the means OF enforcing course
| which may carry prices TO On extravagaht
/ height and lead TO disastrous deleat OF
| the "bears." The suspicion. however, that
| the sbulls' are unloading through the
| "bearsn is encouraged by the recollection
| that IN Nav. 1869, when the Vanderbilt party were
ostensibly buying Lake Shore at lis 49, the same
bearsu were selling the stock to the street who are
selling 1t now and there apparently ike bitter
| hostility between the two parties. But Lake Shofe
failed to stay at 49, few months later sold as low
7aX II is true that the situation Is now entirely
| changed In 1869 the Vanderbilt party lound
| Il impossible to GUST the Lockwood directory,
and hence revenge was taken by forcing the
stock down to figures which brought 1t out OF the
hands of the controlling party. 1t is nevertheless
coib cdence that during the first stages OF the great
"breakt in Lake Shore from 119 the VanderDllt
brokers were buying and the present ''Dear" party
selling the stock. Now the Vanderbilt party nave
entire control OF the road and as scrip DIVIDEND Is
not among the improbabiities, the theory Is not I'M
reasonable that their strategy contemplates the cui
ture of nm enormous 'short" interest preliminary W
its declaration. In fact, day Is so long Time
IN wall street that theories good one nour
are vain the next. Should the 'bull' clques, III
playng to get simply the street "short' Of stocks'
have succeeded In getting the prominent wealthy
..bearsp In that predlcament the future Oh inc
market with be replete with exciting interest. III
the decline to-day Lake Shore went OF to lO7s ana
Northwest common to soy. Ohio and MISSISSIPPI,
which was also strongly assaed, ran down TO 49A,
but rallied at the close to 50es, on dispatches from
Cincinnati stating that at the special meeting OF the
directors to-day In that city Daniel Torreace, Mr.
yanderbilt's son-in-law, was elected President, Il
fill the vacancy which had been made for him by th'
resignation OF the previous incumbent
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices OF the principal stocks during the day.
. Highest. Lo,cest
New York Central consolidated. 10lA 9sA
New York Central SCRIP. % soT