The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-25

70 ", ouVuunsu Guy sevens. 81 90; new orleans
consots, old. 10 q rs; do issue railroad skies.
~ "; do. sevens. 90 q 65.
STOCKS FEvsRIsH AND STRONG
The stock Market after o feverish ana unsettled
tone. bequea;hed from the excitement and agita-
uon OF the previous day, gradually became quiet
and strong with rise Of two per cent In the recent
more active features such as Northwest Union Pa
cinc Ohio and Mississippi and Pacific Mall. The
reaction took the professional sbearsr completely
by surprise, especially the decline or Tuesday
occasoned by legitimate sales, the stock being
all in readiness and promptly delivered to-day. The
fact Is the undertone OF the market Is really nrmer
than most people give 1t credit for Prices are un-
doubtedly nigh, and In most instances inflated but
the widespread popular interest In the stock market
ana the feeling tnat 1t 80 purchase every time 1t
goes orr proved SUFFICIENT to stem the downward
OF Tuesday and reverse its direction to-day
The further fact Is very evident-high prices and
imitation to the contrary Notwithstanding
VIZ, that the market rises faster during
the purchase than 1t falls during the sale
Of the same amount OF stOck-tne transac-
ton occurring when the board Is in full ses-
sion and not early IN the morning, when no one Is
at hand, or late IN the evening, when the brokers
have gone home. 1t seems according to what can
be gathered from very confused situation" that
the savings bank panc'' Of the early days OF the
onerator OF the Stock Exchange at a time when
1T Of the blues made him conjure up that 'eternal
smash" into which the country is steadily drifting.
The consequence was o general unloading OF his
stocks, some or which being specialties on which
Mr. Daniel Drew has been seller OF multltudinOus
"pus," there was cheerful prospect that the lat
ter gentleman might become the owner OF the
snare capitals OF several Western railway enter
prises. This thing had to be stopped" So as one
man sold the ether bought but the shifting OF the
load was not unattended with WIDE and violent
fluctuations. SO much for the game between the
principals. The thousand and one small SPECTATORS
being all ..bulls," and money being easy ana
the spring season at hand when 'stocks
are az sure TO rise as the sap In
the tree." Mr.. Drew had plenty OF help in sustain
ing the market, the frmness and reaction OF which
are represented to have drawn tears to the eyes OF
the nasty "bull," as he contemplated q lost opp0r
tuni;y OF better prices. The numerous sharehod-
ers OF Erie Will be interested the fate Of bill IN
troduced In the State Senate to-day for general
reform OF the management Of that corporation. The
bill IL given IN our Albany letter. The
governors of the Stock. Exchange have
under consideration a petition signed py large
majority OF the Board asking for the enactment OF
bylaw that Will prevent dealings the street sub
scquent to the closing OF the Stock Exchange The
point II made that the small gathering OF brokers
represe nted In the street marked interested opera
tors and cques enabled to raise or lower prices
for the press and telegraph quotations, and thus
prevent the real tone OF the market as expressed at
the regular gathering in the brokers' hail. The
latest Developments in the Market Savings Bank
matter would seem to indicate that the
missing money whose absence temporarily clouded
the credit OF Broad street firm Of brokers was
specuated away through their house, its ownership
by the bank being unknown to Them although
when the bank suspended their suspicious as to the
source OF their customers margins may have been
aroused. but without being expressed-Wall street
custom holding the dealings OF brokers' office 70 be
a. confidential as the secrets of the confessional.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and low