The New York herald., 1871-03-13
REVIEW OF THE STOCK MARKET

REVIEW OF THE STOCK MARKET.
The market opened for the week with considera-
BILE animation, and sharp struggle occurred
between the bull and bear forces. For q time both
parties fought wide, the BEARS encouraged by their
success Of the previous Saturday, pressing their
antagonists vigorously, who at first seemed shy,
apparently TO draw the others into their "corner,n
for late In the afternoon taking advantage Of the
considerable short interest they had tempted, the
bulls suddenly changed their tactics. and,
forcing the fighting, they punished their adyer-
saries by running prices up to the then
highest Of the season-Western Union, SAX; Pitts
burg 1924; Lake Shore, 9914; Ohio and Mississippi,
54s4; Pacific Mall 46S. At DUSK after the close Of
the Long ROOM the bears again rallied on the side
walk, ana finished the day with a slight advantage,
Rock Island down and the whole list sympathizing.
Tuesday the market was in a fevered ana excited
state all day, aud wide fluctuations prevailed. Pitts
burg suddenly rose from 113 TO 119 upon report
that the Pennsylvania Railroad was negotiating
for lease OF the road upon terms similar
TO their lease Of the Fort WAYNE. West
ern Union this day advanced to IS,
and Reading touched 1929. Union Pacific stock
declined to 20 upon the reported revival of the Fisk
suit but recovered later TO 2975 80 on statement
from Washington that Secretary Boutwell, had been
instructed by the Committee on Appropriations to
pay over to the company nearly nearly half mil
lion dollars withheld the interest account. Pa
cinc Mail touched AZ on the assertion that an In.
CREASED subsidy had been voted in the Appropriation
bill, but went or again to 44X when this was
denied.
Wednesday was bear day, and stocks were weak
and lower During the day the market was to Il
per cent OF the opening prices, but closed about x
per cent better.
Thursday showed recovery Of confidence among
the bulls, who bought, freely throughout the day.
Uoct u1n ryoa ha aflra nd fnnn
stride upward to 55%. Union Pacific was again
treated to more Washington rumors; this time of an
effort being made to get the Congress to repeal
the favorable legislation Of the last and declined to
27, but recovered again to %. Pittsburg vbrated
between 114h 117h. Lake Shore sold down to
07A upon the sale of 20 600 shares OF bear pool,
made up to break the market but which the bulls
took, and again advanced the price to 0S3<. The
market closed buoyant
Friday was duh day until towards the close,
when an upward turn was made. The coal stocks
were active, Consolidation Coal selling at So. Can
ton was also active, and rose to 76 7656. New
York Central stock advanced TO 9sh, and scrip to
o4, on the anticipation OF the payment OF the four
per cent dividend April Is. Harlem was strong at
129 Pittsburg sold at 11s1S. On the street, after
i've O'Clock, Ohio and Mississippi advanced to 451s.
Pacific Mail continued weak on the defeat of the
hopes Of subsidy and declined to 431a. Union
Pacific this day declined to 20, on statement that
Secretary Boutwell, would ignore the law respecting
the interest," but rallied before the close to 27H.
Saturday was most distinguished by the develop
ment of sly operation Of the CommOdore's who
was found to have quietly picked up the Ohio and
Mississippi stock dropped by the Baltimore and
Ohio party ana to be going for the control Of the
Ohio and Mississippi road himself When the street
made the discovery the stock suddenly advanced to
56, but it is probable the Vanderbilt party have got
all they want. Union Pacific was hammered to "a
on q statement that Mr.. Boutwell, would press the
payment OF the interest. Later 1t rallied to 25 on
@ statement that he would not. 1t was further
serted that he had already begun the payment Of
the so per cent cash for service Western Union was
active and advanced to 3s5s.
THE FINAL STREET QUOTATION
on Saturday evening were as follows:-western
Union Telegraph, SO 561S; Pacific Mail. 43ls 4314;
New York Central consolidated, osH ssH; New
York Central scrip. 93zs "a; Erie, p 2l14 Har.
lem, 129k 1870; Reading, 1921 lO214; Lake Shore,
pSk 9S9z; Pittsburg, 11614 1161S; Northwestern,
80X 8o1; 90. preferred, 90 93n; Rock Island,
l12 112k; st. Paul, 545S 55; do. preferred 7ez
II; Wabash, SAX 547s; Ohio and Mississippi, 4sh
q 4sk; Boston, Hartford and Erie, 11s TX; Column
bus, Chicago and Indiana Central 2O7s 2oh; Union
Pacific, 251I o 25x.