New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-02-19
SECOND BOARD p. VI
safes Of S.ar, Bo- Eaoat bonus and Rdilr0nf-E'f''
SA1rnnAY. Fch. l7-r. ".

The week lust drawn 10 ClVHc A'S Hoo ""
fraught with any very important financial '''s' in'
oitatio and exciting discussion provoked by the Ala
nam, question and which made last week so notable
ros entirely subsidized and the present relations between
England aud America are deemed 70 he rs HleH"S d.
ever The British markets quiet ana our o" secui
tjcs dealt in on the different bourscS' are rS l'o'
n from their late depression. The foreign outlook is
thou Ut 70 he Of rather promising nature Judging o
the fact that the Court Of the Bank Of England last
T,ursdav at the regular weekly meeting did not raise
the minimum discount rate but continued II al three per
cent although the bullion was diminished some
e3I2o0o IL had been expected in some quar-
tcrs that an advance IN tie rate would certainly
DC made This OF the Influences affecting the pllce
of gold which has steadily declined from 100 to llo3'
bourh lower level las doubtless been prevented n0ts0
,uch ly speculative commercial cau-eS Inc import
entries OF dry goods and general merchandise al 'hS
mort are unusually large being in excess OF the CORE
poning periods of 1871 and 1870 as reflected III our sta
,stics Of foreign commerce below. Our merchants and
impcrers are therefore requiring more coin than usual
TO tntm EUon. h@'h THO foreign exchanges
are frmer and only per cent below the specie shipping
point indicating, the gold bulls claim. an early out
flow of specie. Against this view If the subject II
must be remembered that aoOO,0oo hyc-twcn-
ties will he redeemed early next month, notice
of the redemption of which was given in December To
what extent will DC likely to affect goldi IL OF course
impossible to forcell. The scadlcr tone of gold how
ever aud the In the speculative enthusiasm has
bonds The German bankers. during January, were
large sellers Of all the issues bat particularly lsfs, ten
forties and the now yCs Of lI, to arrive Hy sys-
TEN of ''ugeing" the home and foreign markets, they
were able to do this quite successfully perhaps, for the
moment and received from abroad some large amounts;
but what when the reaction comes! Al the point 10
which these bonds depressed domestic capital
is.a Savings Banks Insurance Companies. Trust
Coruuaue., etc, etc., liberal buyers, ana
were willing to take about all the bonds the
German bankers ofcriur, so that at
the close business at the Boards and over the counters OF
dealers which had been extremely heavy all the week,
s.ackoucd very materially The course Of each issue Is
shown in our weekly comparative table below In state
bonds but moro especially Southern state securities,
speculation in tie earlier days quite active partcu-
larry il Vrgnias, the COusOs and Deferred Issues being
tlc fayorltcs The south Carolina bonds also
lively at times, and ran up pretymSh hut the in'eaga-
ton resolutions introduced into Congress later had
very very depressing Influence, notably upon these
bonds Tcnnessecs were less affected, while MssOurs
were strong all through Money has been steady all the
week. and scarcely call the rate really much be-
low seven per Some time loans bridging the period
TIL after the lot Of April have been made at
seven per cent, gold, with commission for the
negotiation, while for turning" lOWprced stocks for
thirty days to per cent has been paid With the pres
cnt low reserves OF the banks and the contraction
ures of the Treasury calling in the three per cents
money not likely TO be much OF drug during the
last wear II is supposed however that the bear oper
ators have had some influence in keeping up these
SITTER rates. although direct tying up Of legal tenders
has been attempted or If attempted, the scheme
wisely abandoned. The stock speculation did want
for interest and excitement. and Monday Tues
day the bears made very determined assault the
market and succeeded in forcing down prices to per
cent though in the Of Union Pacific the decline
was per cent, and in Harlem g. On We'd
nesday the bears played what they call
their trump card" which was not however, winning
one It transpres they had sold some $1,000 5000
shares of the Hannibal and St Joseph stock for future
delivery The total shares composing the capital stock
are $50 Taking advantage OF an assumed authority
Granted by the Missouri Legislature the Company, com
roscd Of the chiefs Of the bear operators stealthy
issued $4,000 new shares (waterIng the stock s5OOOO
expectnc to make their deliveries in these certi
cafes OF course had the succeeded, the market
would have been temporarily dcmoralized. meeting
Of the Goverhng Commit ee OF the Stock Exchange
cded the stock would not be good delivery until
after the lapse 20 days from the date Of registration
The trick paTtook Of Of the characteristics Of the
peculiar tactics pursued in Erie, not TO receive the
heartiest condemnation OF the street. The market has
not yet fully recovered this partial shock OF paralysis
and to-day has been shaky and unsettled with consld
cradle irreguarity in prices The market is kept
feversh condition by the continued talk about lookup
and rumor was busy to-day in circulating reports that
arrangements had already been made with certain bank
ing agencies and city Institutions which have in former
times lent their aid 10 such schemes To effect their object
We doubt, however, II any combination, at this
time can the cooperation of any OF financial
institutions scandaous anundertaking The moral
eject keep the general list very dull though fair
movement noted in Union Pacific and Western Union
Telegraph. covering in the former "a range Of
per Tie variations In the rest Of the list
within a radius OF per cent, the dealings being very
small. About 1860 shares Of Hannibal and 81. Joseph
Common brought In under the rule at 4iaiil d43i
In investments Chicago aud Alton sold at 49, and Della
ware aud Hudson Canal ll9 CLIO Quicksilver strong
and gher aud Canal stocks dun and steady. In Ex-
press shares Omitted states advanced to G5! American
TO ga. Wells Fargo& Co. 10 65t The general market
wound up and barely steady at D. IN. The highest
aud lowest prices OF active stocks thus shown: