The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-09
PINiN(IlL and COMMERCIAL.
-~~~>,--~~~~-~~~~~~---~-
The 'Locking-Up" Conspiracy and
the Clearing House.
The Remedy Adopted TO Prevent a Re-
eurrencc Of the Mischief.
The SPOOL Continue 10 Hold the
Greenbacks.
-~~~~~~~~~y-~>---e~~-~~-~
The Money Market as Stringent
as Ever.
-se-->e~e~~>-~-~e-~es.Ne
Congress TO Investigate the
Matter.
-~-~~~-~e---~~~~.ex-s-~~
Reported Activity in the Lon
don Money Market.
THE kNAL ERIE CllQusS ReCOsclED.
Stocks Waiver and Fall, but Recover
and Advance.
THE SPOOL" in THE GOLD ROOM.
WAL srarrr.

MONDAY. Aprl SO 4. "a.
On iChanye to-day wheat was heavy ana dun
buyers aud sellers being apart In their views lie
cotton market was steady and unchanged.
MONEY STRINGENT.
Money was stringent. and from al that can ~
0scertainei the principal parties concerned In the
locking up currency have not relaxed their grasp
upon the market We give in an adjoining column
the result OF the meeting at the Clearing House tins
afternoon as well as the proceedings IN the
Courts with reference 10 the case OF tho
Tenth National Bank. Congress has also
taken up the matter as VIII be seen
by our Washington dispatches, doubtless upon the
reports made TO the secretary OF the treasury by
Mr. Meigs. the National Bank Examiner OF this dis
trict, and the Banking and Currency COMMITTEE OF
the House were directed to make an investigation
OF the alleged conspiracy TO derange the money
market. All these proceedings mad the effect Of
frightening some Of the allies oil the pool who have
been locking up money but the chief parties have
evidently determined to keep their money out OF
bank. They were even said TO have left the city 10
evade the service OF summonses from the Courts;
this report srouty denied by their friends.
who asserted they were to DO found pretty nearly
all day at the offlces OF the Hannibal and ST. Joseph
Railroad, in Broadway, near Wall street, one Of the
parties being leading offlcal or that road.
The money market opened at O very early hour,
and the rate hardened at once 10 y per cent IN ad-
dtion to legal interest, few borrowers paying rs
high as q per cent. The u per cent seemed. how
ever, be the standard for most OF the business up
to halfpast two O'Clock, when money was offered at
u per cent Henceiorward the dealings were gem
orally at q per cent "and interest,"" aud were con-
tinued until quarter before four O'Clock, or three
quarters OF an hour beyond the usual time Tor clos
Ing accounts al bank. AT few minutes past three
O'Clock one broker, representing large nrm
Broad street. offered s5o1o0) at per cent, when Z
per cent was bid. 1t is needless 10 say that the
market took 1t greediy and demanded more, bid
ding u per cent again.
ACTIVITY IN THE LONDON MONEY MARKgr.
The cable brought quotations this afternoon show.
Ing that consols had declined fully per cent and
five twentles the same AMI the hves 4 per
cent. THIS weakness IN the London stock market
Is attributed to an active demand for money, which
was reported to be worth per cent outside OF
bank, at which the minimum, as adjusted last
Thursday, is Z per cent. The decline Is more
markable on account OF a simultaneous announce
ment in the London FOf OF TO day that commu-
nication has been received from The United States
government OF a character 10 alay all apprenen.
sions concerning the Alabama question Probably
the Old Lady OF Threadneedle street has deemed 1t
time TO interfere and check the rampant specua-
ton In the London market
Commercial paper was neglected in the greater
interest attaching to the call loan market
Foreign exchange was inactive but nomnally un-
changed, tue leading bankers continuing 10 ask
109A for sixty day sterling and Ito Tor sight bills.
GOLD sTpoN6-1l0i4 A 110H.
The gold market was strong under tue influences
OF the decline In five twentes to-day In the English
market, and fairly active business was transacted
at an advance from lI0K to1l01a the buyers wero
pretty well scattered over the market which ex-
hiblted little indication or the presence OF the
clique, whose attention was supposed TO DO fully
absorbed In the agitation about the money market.
They credited with the possession OF about four
millions OF gold as "a starter'' or basis for
their contemplated campaign which they hesitate
TO begin more vigorously until the market has dis.
counted The effect Of the heavy disbursements OF
the Treasury IN prepayment OF the May interest on
the public debt. AS the May and November five.
twenties are held chiefly In Europe they cOdnt on
little interference from this source. 1he course Of