The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-04
The Fluctuations in Gold and For
eign Exchange.
Large Short Interest In Vir-
ginia COnsOis.
VALUE OF A GOVERNORS VETO.
Changes in the
Stock Exchange.

WALL STREET.


SUNDAY. March 3. 1872.
The past week in Wall street has not been marked
by any features Of extraordinary interest The reg
ular SIX days drama has been played there with
the Old incidents and the old characters, with here
and there slight change In the cast, and that IS
all. That the country Is any the richer or the
poorer for all the snounng and believing that has
gone on each day. between the hours OF ten and
uve in the hall OF the Stock Exchange, we dare not
say; but yet it cannot be ignored that the transac
lions which gave occasion for SO much screeching
and gestlculatlon very seriously affected individual
1nteress.
THE PRINCIPAL INCIDENTS OF THE WEEK
that closed with yesterday were squeeze in money
and sharp fight over Pacific Mail and Northwest
common Doth OF which, II needed no prophet to dis
cover, belonged to the same performance. This
tight, which has already given rise to considerable
acrimony. ana which is rapidly developing into an
angry feeling, even among those no. directly inter-
ested, against 'tne young bear leader" mas already
borne fruit in the recent absurd examination OF
Legislative committee into the management Of the
affairs OF the Pacific Mail Steamship company, and
the proposition introduced into the State Legislature
to authorize such management TO reduce the capital
stock Of the said companyto $I1, 900 o0o 1t Is also
sslsted on the bull SHE the prospect Of the pres
ent Congressional subsidy OF 100000 being IN.
creased to 1000 COO annually In Northwest CON-
mon the struggle is more local. aud seems far to
be confined tC the usual street tactics. In both
stocks the fight ragged with varying fortune through
out the week. as has been previously recorded here
hut OF the close last evening, when each combatant
was compelled to cease hostilitles as dark
ness set In victory appeared to be 1ut-
terlng over the ranks or the bulls, II
preparing &c light upon their banners. The other
Features or prominent interest i'll the stock market
hre Erie and UDion Pacific. The former. from the
n oiyrf n Ioff hp acoiG
cation act and the prospects Of success presented
IN the temper OF the Legislature resumed some OF
ITS old activity, rejecting or being reflected IN
6imilar movement abroad, both in London, Frank
Tort and Amsterdam. Late last evening it was
learned that the senate Judiciary Committee. hav-
ing cleared their table OF other matters would
Tomorrow take up the SUBJECT OF Erie
with determination TO go through with
The whole matter without delay. Union
Pacific addresses itself to the attention of operators
both from the change i'll the management whereby
The Vanderbilt interest came into the direction, and
the discussion now before Congress respecting the
transmission OF the mails TO the Pacific II snow
blockades are to be common occurrences. Among
Ehe minor incidents may be mentioned sales OF
Hannibal and ST. Joseph stimulated 10y It's peculiar
status. The Governing Committee OF the Stock Elk.
change have accepted the Farmers Trust Company
rs the register of this stock in place OF the Tenth
rannot be "a good delivery" until the expiration
br the thirty days. notice, the 18th OF
March. Western Union was firm throughout all
the week, with lair proportion OF dealings
as compared with the avorites. The balance OF the
list responded TO the course OF speculation before
alluded to, and closed strong with those previously
mentioned
THE SQUEEZE IN MONEY,
which dates from Tuesday following the first eXhi-
hrffou off ua a;fo fyvis
produced almost "a much irreguiarlty AZ strlngency
In rates throughout Tue week. ana did not seem TO
be very strong at any time. The highest rate paid
for the OF money lilo plus legal interest the
majority OF business while the 'squeeze' lasted
being between currency, ana 1-32 commits
sion added. Last evening moaey closed easy
at about SIX TO seven per the recognized rate
Bmong the leading houses, although as high as
1-16 commission added TO legal interest was paid
early The day, and, after banking hours balances
were pressed at three and 1onr per cent by those
anxious 10 secure the Two days. interest The feel
tng on the street the close Of anticipated
ease this week the furthest regular rates.
Thought by those best able to judge of the eDb and
now oil the money tide III this city,
that the banks have seen about the last
of the recedng movement and VIII continue TO
gain In resources for the rest OF the season. This
their Interpretation OF
TIE BANK STATEMENT.
The following Is the statement as presented to The
erreet:-
increase in specie. Observation-Disclosures. 443, COO
Decrease IN deposits. .,..........-. S45 400
decrease IN legal tenders. ............ 1,2I2 500
increase III circulation. NEUTRALITY-SUSPICIOUS.. 81, 700
The following Is comparison OF the bank aver
ages OF the past and preceding weeks:-
Feo. "a March ..