The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-08

WIN m rntrencnment and reduction
OF her LIABILITIES. The following were the closing
ons:-Tennessee, ex coupon cox COX; do,
new, 66x 08s<; Virginia, ex coupon. 80 q SIS; DO,
registered stock, old. As 80; do, 6s, consolidated
bonds, 55k q 65K; do.. e's. deferred scrip. Is
q 10; Georgia Gs, ~ rs; do, rs. 81 SO;
North Carolina ex coupon, SO a6k; do,
funding, 1866, "a 20; do, do. 1868, 81 q
q; do, new, 20 AZ; do. special tax, IA q Is;
Missouri stxes % Q ak; DO. Hannibal and
ST. Joseph, OF %; Louisiana SKIES 90 Q o.:
do. new, so IS; do. levee sixes 81 Q IS;
do. do. eights rs 90; do. DO. 1876, 80 . IS;
do. Penitentiary sevens, 81 81; do railroad
Fights, 20 80; Alabama Hves, 90 66; do.
eighrs, 90 a o.; do. Fights, Montgomery aud
Eufaula Railroad, 81 %; South Carolina skies, So
60; do. new, January and July, sOH 81; do.
do, April and October, % q 80; Arkansas skies,
funded, IS go.
STOCKS ACTIVE AND IRREGULAR.
the stock market was excited and very strong
throughout the forenoon, In sympathy with the
rampant speculation in Pacific Mail, which carried
the price OF that stock to esH. rise that started
semi-panic among the 'bears' over the whole mar
ket, and was followed by q scurry to cover Erie,
Wabash, Rock ISLAND, Lake Shore and Northwest
ern, to which the short interest outside Pacific Mail
had been chiefly confined, and which suddenly ad-
vanced under this simultaneous demand for them.
In the afternoon Pacific Mail betrayed weakness.
ana gradually declined, under reports circulated
by the 'bears" that they had compromised with the
'bull' clique and closed their contracts, and was
still further depressed by the suing out OF new In
junction. said to DO granted this time by Of the
City Hall Judges forbidding the Officers Of the
company making loans on stocks The injunction
story, while generally dtscredited, helped the down.
ward movement enough to put the stock to 6lX, at
vvbt n fov hmm Aroh OH MIA nf
is barely possible that the Two parties have COM
promised, but it Is most unlikely, for the
"bull" clique had gained q control OF the
stock which would have enabled them to
do pretty much what they pleased with
its price. especially as the "short" interest
was not only extensive enough, but rich enough to
have stood very severe "twisting" However,
should the settlement really have been made 1t will
not have been the first time the outside public
left in the iurch while the cliques compromised
with each other and then turned around to specu-
late against the street. Whatever the actual facts
about the matter 1t is evident that the Pacific Mail
has brought the Heathen Chinee to perambulate
wall street once more to excite the wrath OF innu-
merable Bill Nyes-a train Of thought which further
suggests the theory that the Pacific pool have been
playing pOssum all the afternoon and submitting to
fresh injunction ana fresh attack OF the "bears"
in order to make their eventual victory the greater
Meantime 1t noticed that Erie was In active de-
mand. Later in the day the heavy purchases from
s3X up to Se1S were traced to the Erie Ring, who,
short Of the stock In anticipation OF defeating the
repeal Of the Classification law. found themselves
under the necessity Of buying In IN order to cover
these sales. as well to provide 'long" stock with
which to vote should the repeal bill be carried
Their inability to issue new stock Ii the result OF an
injun cti0n granted by the United states
Court, which they nave not dared to set
at defiance, and hence the opinion got abroad
that the Erie Ring for once In their life badly
scared at prospect Of affairs in the State capital
Thus the market presented In the afternoon the con-
trast OF steady decline in Pacific Mail and steady
rise In Ere all the other speculative fancies follow
ing which they listed, revolving about In sort Of
grand contra dance, going up and down or waltz
ing about in pretty near the same spot until the
hour OF five brought the day to Close and left the
lookers-on greatly undecided as TO whether IL was
ssbull' or "bear" q strong or q weak market that
prevailed when the shutters were drawn over the
portals Of the Exchange.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest