The New York herald., 1871-03-30

WALL STREET,
WEDNESDAY. March 29-0P. M.
On 'Change to-day wheat continued firm, but dull
The Gotten market was steady and without special
feature
STOCK EXCHANGE GOSSIP.
In few weeks workmen viii begin an important
alteration OF the Stock Exchange building. Com
plant Is made that the portion Of the Long Room
occupied by the brokers between the formal sessions
OF the board Is unhealthy, owing 10 bad ventilation
and the lowness OF the ceiling. The alteration con-
templated IL the opening up Of the Long Room
within the rangs SO as to take in the "up stairs"
apartment thus giving o large domelKe altitude
TO the space occupied by the brokers. There will
be. consequently, no cup stars'' room except for
the government board, which win be unmolested.
The regular calls and the open market will thence
forward be held on the ground noor. Pending the
improvements referred to the Stock Exchange Will
occupy the adjoining hall Of the late open board OF
brokers.
MONEY THREE TO FIVE PER CENT.
Money was easy at four TO five per cent, with ex-
ceptions at three per cent to the leading govern
ment dealers.
FOREIGN EXCHANGE WEAK.
Foreign exchange was weak and prime bankers,
sxtydays sterling bills sold freely az l00x. Good
bills OF the same duration drawn by the Pennsyl-
vania Railroad company on London were marketed
at lO9x.
CoMMERCIAL PAPER.
There were no important changes In the rates or
volume OF business In commercial paper. which was
quoted o per cent for prime names.
THE NEW LOAN.
Considerable satisfaction was felt at the with.
drawal Of the agencies of the Messrs. Rothschilds
and Barring Brothers for the receipt OF subscriptions
TO the new loan in Europe, and the domestic
bankers exhibit more hearty interest in aiding Mr..
Boutwell, since he has thus determined to let all
foreign houses have an equal chance in receiving
subscriptions The time for subscribing to the first
instament OF 5000 O00, 900 i've per cents has Deen
Indefinitely extended. and the national banks show
more disposition to exchange their hve.twenties
for the new bonds, especially since they may do so
with the guarantee that they will not be subject to
further changes In the cOllaterals which they
hypothecate in Washington against their circula-
tion. The subscriptions to-day reached So, 26s, 500,
making the total thus far $44, $4,000.
THE GOVERNMENT PURCHASE OF FIvE-TwBNTIEs
At the usual weekly purchase to-day OF fve.twen.
ties the amount offered at the Sub Treasury in re-
sponsc to the call for two millions was only
at los.so to 1o9.39, ex interest The pur
chased bonds cost 1os. 80 109.3o an average OF
about 1o9.05, when gold was selling at 1925.
GOVERNMENTS HIGHER.
The small offerings al the Sub-Treasury, coupled
with the reaction In gold and further advance In
London, where the 62's were strong at an advance
to OK, rendered the government list firm, and
occasioned slight Improvement In prices. The
light amount offered at the suo-Treasury is regarded
as An indication that popular sentiment is getting
accustomed to the idea OF the success Of the
new loan, and that holders OF 1vetwenties ex-
pect to receive par In gold for their ponds
at no very distant day, especially as the discrepancy
between the currency Values OF five.twenties and
gold Is % rapidly diminishing. The currency skies
were actively strong, and advanced to 114K.
GOLD sTRONG-1101s 1103S.
The gold market was strong and steady at I10i.
l10' subsequent to few sales early In the day at
11os. 1t remains to be seen, however, whether this
strength was not the result OF q continuous demand
to cover the very extensive short interest which
underlies the market and prevents a more rapid
fall. The "bus" are encouraged TO hold on by the
fact that the margin with which they buy, If
as large as that usually employed in stock specula-
tlon, will limit the extent OF their possible losses
while with the prevalence OF large short interest
they may have their gold carried free OF charge, IT,
indeed, they do not most of the time receive con-
sideration for its use. The "bears,n on the other
hand, are persistent In staying 'short,n' for the
reason that they have the prospect Of heavy gold
sales throughout the month Of April by the govern
ment. to be supplemented by the payment tpossbl
the prepaymenp Of the $1s,O0O,OO or May interest
on the public debt.
STOCKS HEAVY AND LOWER.
The stock market was raided by the "bulln
cliques who took advantage OF each ull In business
to break prices by the rapid sale Of few hundred
shares, leaving the BEARS" whose hopes they had
thus excited, to keep the market depressed by
speculative sales at the reduced scale OF prices
whenever the :" bulls" turned around TO buy
again the market ran up suddenly. The
0f Waa q ov,d
tone to the days business and gradual lowering Of
prices, which declined one to one and o half per
cent The exceptions, however, were the North
west stocks, Union Pacific, Pacific Mall Western
Union and wabash, which were firm.
HIGHEST AND LOWEST PRICES OF STOCKS.
The following table shows the highest and lowest
prices Of the leading speculative stocks during the