The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-07

There was duller tone In the stock market and
some hesitation in the upward movement. at least
IN the portion OF the list outside Of Pacific Mail,
Erie Lake Shore and Union Pacific which, were &C
tive and strong. There was also disposition to
take up fresher speclalties, as evnced In rise in
Canton to o0, and In Quicksilver preferred to Al,
The very first transaction IN the morning sale
OF 1000 Pacific Mail at cox, which was followed
Immediately BY another OF 1.50O shares at so. This
anomaly elicited the explanation that on the pre-
vious evening the shear" clique had MADE
application to Judge Gilbert, OF Brooklyn,
for an Injunction to restrain the officers OF the COM
pany from lending money on the stock, and OBJ
tanned one, on the strength OF which they had WIS.,
tied the Firth Avenue Hotel during the Of the
night and offered the stock down to 90, hoping to
demoralize the ''bull movement at the opening OF
business this morning. The fact reaching the ears
Of the 'bull' clique, the latter posted or to Brook
Ign at midnight aroused the Judge from his sum-
bers. and induced him to listen to an argument
wherein they adduced the example Of the st. Paul.
Northwest and other corporators who were
In the habit Of lending their idle money
on call in Wall street. The application
for dissolution OF the injunction was
successful and the "bus, returned to New York IN
high gee 1t TRANSFERRED that the "bears" had en-
deavored to get the Injunction early In the day and
use 1t when the stock Exchange was In session.
trusting to a general stampede OF the outside
"buls" to make panic In che shares. This morn
ing both parties met IN the hall OF the Board, and
as the hour OF ten was striking the 'bears' started
of with the sale Of 1000 shares at COZ, not
knowing that the 'buls" had procured dissolution
OF the injunction over night. The latter took the
1000 shares at cox, and one of their brokers IN
stantly bid 90 for any part OF 5000
shares, getting 1900 on the spot The battle
now began IN earnest. The "bulls' pushed the
stock up to 624. The 'bears'' forced it hack to g.
Both parties rested at 62X 627I and oitred.
Eventually the Legislative Committee was reported
as favorable to the bill reducing the Pacific Mail
capital to $1oOoO,0oO and about the same time the
overdue Alaska was reported to have arrived safely
at San Francisco The stock started Off again and
sailed up to G3>4 despite the frantic opposition
or the ''bears." Our Boston kilograms
In another column report the complete
triumph OF the Vanderbilt interest in
the annual election to-day for directors Of the Union
Pacific Railroad. and the subsequent choice Of
Horace +. Clark for President, the vote for this
ticket having been about eghtninths OF the capital
stock. The Scott party made no contest the
shares Of Union Pacific advanced to 36X on the
news. which had its influence more directly else
where, however-viz., upon Rock Island and. North
western, which. as the connecting links between the
Lake Shore and Union Pacific roads, were deemed
to be the next object Of the Vanderbilt rail-
way consolidation enterprise How much Mr. Van
derbilt himself is really interested in all these
movements Is difficult to say. His friends
assert that he. is not engaged In the many
plans SET on foot by his ambitious s0ns-in-law out
doubtless he regards them all with pleased eye.
Perhaps one OF these days the honor OF the presi-
dency Of railway running from New York to San
Francisco may be conferred upon the great railway
king by these energetic sons and sons-tn-law
Toward the close OF business 80. G. and l. c." ad-
vanced to 24H, st. PAU to 5sX and OHIO to AZ The
general list was unsettled, and except for
Pacific Mail the best prices were not maintained
Erie recovered It's strength and returned to
S3X. 1t Is thought the Erie Ring are pay
ing the expenses OF their efforts to cor
rupt the Legislature from the proceeds OF the
sale of more stock. notice OF the OF which will
be duly made to the stock Exchange. The decline
the other day attributed to this cause It only
necessary to issue convertible bonds at any time
and turn them into stock.
In explanation OF the full lists of sales be-
low 1t should be stated that the regular s'cals" Of
the board were found insufficient TO express the
days fluctuations, and were no real indication,
much less q record Of business. Hence the printed
lists which the oficial guide to the public ana
ottentimes are used to settle legal disputes about
stock operations, are now made to include the Tor
NAL and informal transactions occurring at the
BOARD.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest