The New York herald., 1871-03-18

thce per cent for carrying to nat for borrowing.
The operations OF the Gold Exchange Bank were as
follows:-
Gold cleared. $23, 8S2, 900
Gold balances l048, 993
currency balances. i'loI'o4o
The steamer OF Saturday Will take out about
3S0o,ooo, mostly in silver.
GOVERNMENTS STRONG.
The government list was strong in the Issues more
directly affected by the advance abroad and also by
rumOrs that the Treasury would increase the pur.
chases for the month OF April, into which, 1t was
also reported, the feature would be introduced Of
buying the bonds for gold direct, thus doing away
with gold sales. 1t win be remembered that this
policy has been strongly urged by the HERALD, on
the ground that it Will do away with the
tendency to create an uneven movement
In the money market. 1t will also silence
the objections OF those VINO claim that
the government In paying more than par for the
bonds purchased each month is redeeming the debt
at premium. All these rumors 60 to confirm the
belief that Mr. Boutwell, Is determined to exert tue
powers of the Treasury Department in. behalf OF
lower gold and higher quotations lin gold) ior the
fve-twentes, which he desires to convert into the
new bonds. The currency SKIES exhibited natural
reaction from the recent sharp advance, and sold
as low as la The tenrortes closed strong at 1O9.
MONEY EASY.
There was a rather easier feeling In money, and
while the lowest rate was four per cent even on
government collaJeras the transactions at i've per
cent among the stock houses were less frequent
and loans on the ordinary securities were quite
general late in the day ut the lower figure first
TONED. Commercial paper was only moderately
active, and quoted seyea per cent for prime names.
The failure OF q tobacco leaf dealer In Newark as
reported with liabilities OF $4,000. for which his
creditors have accepted compromise at fifty per
cent IN cash and twenty-five per cent In notes.
FOREIGN EXCHANGE STEADY.
The foreign exchange market steady and
shade lrmer on the basis OF 1O934 l09s for prime
bankers sixty day sterling and 10Y a 1lO1 for
sight bills.
STOCKS ACTIVE, FEvERIsH AND LOWER.
The stock market was unsettled and under pres
OF sales to realize the recent advance in some Of
the leading speculative stocks, prices went OF half
to two per cent, the principal decline occurring In
Pittsburg, which sold as low as liz. Lake Shorc
which sold on Thursday at 1o0A, declined to 9Sa4.
The Vanderbilt securities reference being had
TO the original favorites Of the party--viz,
New York Central stock and scrip fell OF an
average OF about three-quarters per cent. The
course OF prices was not at oil regular, however,
nor the tone of the market consistent for Rock
Island, ST. Paul, Wabash. Union Pacific and Pacific
Mail were firm and higher. Offlcial advices from
Washington assert positively that the Appropriation
Dill contains an appropriation OF $500, 900 for the
China mail service and $4,000 for the Sandwich
Island mail service which WILL of course fall to the
Pacific Mail Company. III addition to the fixed an.
nual subsidy OF $5o0,0O0 granted the company by
Congress SIX or seven years ago. The drag In the
market was OHIO and Mississippi, whlcn fell to
48I. 1t is said that the chief spirit in
this stock, whose name was connected with 1t so
prominently last summer and throughout the
decline ol last winter, made the misake OF selling
out and going short In the Vicinity OF 3S AZ last
month, when the advance Of The price 10 that stage
suggested the opportunity OF retrieving some OF his
losses OF last winter by operating Tor decline from
figures which had been the turning point Of his
speculation in the spring OF 1870. But the great
buOyancy communicated by the advent OF peace in
Europe and the special assistance given the lise by
heavy purchases on the part OF the Vanderbilt CLIQUE
defeated his operations on the short side and led to
q compromise by which he settled at loss of ten
per cent on about ten thousand shares of the stock
HIGHEST AND LOWEST PRICES
The following table shows the highest ana lowest
prices OF the leading speculative stocks during the
day.
Highest. Lo,rest.
New York Central consolidated. 80. 99I. esn
New York Central scrip. ............ 96A o..
EarlcH H................. ............. loO5a l2y
ETe: ................ ............"...... IOA 20m
!tedutup ........................... lU2 10l4
Lake Shore ........................ l00h 933
dOaSlt. 05Ls 55ls
LIttSDuT9.. ........................... ia III
H.. MI