The New York herald., 1872-12-30
The Natural and The Artificial Elements Of
tho Monetary Stringcnsy.
CLIQUE COMBINATIONS AND PLANS.
A Remarkable Series OF Contemplated Stock
Operations-"T "The Best Laid Plans
Of Mice and Men," Sc.
SATURDAYS BANK STATEMENT.

WALL STREET,
SUNDAY, Dec. %. 1871 u.
The business Of the week IN Wall street was
Hctive only In
THE MONEY MARKET. a
Transactions In other departments were at times
almost nominal the popular interest being in
allegiance pending the holiday season and until the
January disbursements OF interest and dividends
shall render the operations in the stock market
less liable to the burdens and drawbacks OF
stringent money. The rate on call has reached the
usual mid.winter severity, and the most usurious
terms have been exacted and paid in dealings on
stock collaterals, 4 -
AN EIGHTH PER CENT DAY,
or as per cent per annuin, having been q compare
lively low ngure In transactions on pledge OF the
ordinary securities OF the Stock Exchange. The
resistance shown by stocks ana the remarkable
frmness and strength OF prices would Of them
selves reveal the designs OF the clique specuators
whose interference with the money market has
aggravated its natural activity; but report goes so
far to point out the persons charged with lock-
ing up money, and to specify the amounts they
have withdrawn from circulation. There is
NO REASON IN TEE WORLD
why the banks should have lost last week the sum
OF three and half millions Of greenbacks. One
leading operator alone is charged with locking up
million and Q half Of this money. The natural
stringoncy is due to the contraction Of the banks
for good exhibit Of their condition at the end OF
the year. while the thousand and one railroads,
savings banks, trust companies and other corpora
tons having interest and dividends to pay In jan
uary are gathering and holding In hand the money
requisite to that object. AS the money thus re-
quired Is slow to find Its way to the owners 1t is
4 rYrRTHKR NrrRFNcu .aa
that good deal OF the activity In money win last
into the first week or ten days OF the new year.
Meantime the rich men, the wealthy SPECTATORS.
taking advantage Of this condition OF things to
buy stocks in anticipation OF "the January rise"
or "the Spring rise." or whatever may be dcnomi-
mated the expected advance In prices when the
money market becomes easy. Common sense and
experience show that the present Is not the
for selling stocks that In the ordinary course Of
events prices will be higher in Spring than In With
ter. ana that even II they "high" to start with
in Winter the innation will be only the wilder in
the Spring. review Of the situation OF all
TIE LEADING FINANCIERs
and operators In the street as regards the stock
market fails to show any important combination
or movement on the side OF lower prices. In fact,
all the prominent spectators are enlisted for .
contrary movement The 'bullsn foym q phalanx
T8IucT, u BTduu CUIpo UoIMCCS WIN lto uAtA'
sions covering sections OF line running from New
York to San Francisco. Beginning at tue metropolis
we have the Erie party, headed by Jay Gould, and
embracing all the lawyers Of the Erie litigation and
the solid men Of the Erie directory, sanguine Of q
wonderful -.
ADVANCE IN THE SHARES
this year as consequence of the increased earn
ings and economical management OF the road, not
to speak Of q c0njectured narrow gauge connec-
tion with the Lake Shore. Commodore Vanderbilt,
surrounded by his old time friends and defying the
Vaccinations Of his disobedicnt sons-in-law, is
going to quadrupie track the New York Central,
raise the capital to hundred millions and pay ten
per cent dividends. Tom Scott OF the Pennsyl-
vania Central, is figuring for an extension OF his
lines beyond Chicago and was on the point Of get
ting majority Of the stock Of
m THE ROCK ISLAND ROAD
when he was suddenly cast In the minority by the
issue OF slx millions 1t is thought, however that
amicable arrangements have been made with the
Tracy party lAttery, and that both interests will
be united In the furtherance Of lease Of Rock
Island to the Pennsylvania company. In rivalry
to this movement we have combination of the
Horace r. Clark party with Jay Gould, BY which the
Erie, the Lake Shore and the North western com
psnies win be harmonized In their interests
Further South we have the movement Of the
chesapeake and ohio Company for . Western
extension by the purchase Of the &C., Q. and l. G, 7
road, which u
LEASED TO THE PENNSYLVANIA,
II is true, but would be relinquished for proper
consideration, probably. In the West again we
have the gradual accretion Of wabash to the
dignity Of an Independent trunk line, with con
nection over the Canada Southern to Buffalo and
New York, and an extension over the Hannibal and
St. Joseph to Denver City and the Union Pacific
the central figure in this movement being the ven
erable Daniel Drew, who is doing with his "Way.
boshn what his first great ally, Henry Keep, did
with Northwestern. A branch OF the Vanderbilt,
house is improving a ss.ss,-i s's--sS'
THE ONO AND MISSISSIPPI
and is sangune OF great results from the gro wing
trade and trafic between two such cities - Gin.
cinnati and St. Louis. The Western Union and
Pacific Mail movements are also OF importan,
promise, enlisting % they do the attention ano
capital Of so many wealthy operators.
In the government bend market the week was
signaized by further rise in prices, the o7's
being the leading feature and rising to ll7I which
allowing for the January coupon, is per cent
above the par OF gold Currency sixes advanced
to 11sk lex the January interesD, at which price
they pay as an investment less than per cent
Gold advanced to ll2N with
THE SPECIE SHIPMENT
for the week Of two millions, but relapsed to l1lz
and closed at liz on the gain OF specie In the bank
statement Money on Saturday closed at lie at
three O'Clock. During the same day there was a
relaxation In the foreign exchanges colncident
with reports OF easier money In London and rates
were reduced to the following standard :-SterIing,
sixty days commercial, 1857 . 100; do, good to
prime bankers, 1osh 1o91s; do, short sight, 110k
11oK; Paris, sixty days., 52sk 523A; do, short
sight, 61o1 51sX; Prusslan thalers. 71h as72;
antwerp, 52ek $40; Switzerland, 52sk a $40;
Hamburg, o5H q e5X; Amsterdam, 40 4Oh;
FrankioiN AoK q AZ; Bremen, o5H q 95T.
LATEST rn.rEs OF GOVERNMENTS.
The following were sne closing prices
Saturday evening for governnaant bonds
United States currency skies, lax a 1,a,<.
do do, 1881, registered, 1141 114x; do.