The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-15
FINANCIAL and COMMERCIAL.
The Week. and Its Features
in Wall Street.
The Great Siringency in MOney---lts
Reasons and It's Suggestions.
The Abnormal Movements of Prices
on the Stock Exchange.
CAN SPECULATION BE REVIVED?
The Alabama Claims Question
as an Influence.
The Interstate Quarrels of Iowa
and Nebraska.
me Omaha Bridge Break in the TranSconti-
mental Railway System.
The Southern State Bonds and the Secret
The Alabama Claims Question
as an Influence.
The Interstate Quarrels of Iowa
and Nebraska.
me Omaha Bridge Break in the TranScOnti.
mental Railway System.
The Southern State Bonds and the Secret
Of Their Dulness.
WALL STREET.

SUNDAY. April Ia, 1872
The week III the wholesale markets has been
fairly active outside the dry goods trade, which is
verging toward the summer dnlness, its com
modties being about the earliest distributed 10 the
out O town markets. In the woolcu and hard
ware trades common feature Is noticeable, viz -
the disposition to buy only little as will suffice
for temporary wants, in the hope that the high
Prices now prevailing win undergo reaction
Cotton was steady and wheat not so firm. Up town
there is more STIR ana retailers preparing for a
lively spring.
THE MONEY MARKET.
For the week Just closed money has been In
Wall street circles the chief feature Of interest ana
Importance The great rise in the tide of values
the Stock Exchange resulting from the widespread
dealing in stocks, resulting in turn from the i'm
pulse given speculation by the Erie revolution and
the abundance of money at the chief European
centres gave employment at fun rates OF interest
30 every dollar of the capital which directly
ind indirectly fails into the channel Of
Wall street. 1t is true that specu
latve pool locked up four i've millions
OF greenbacks and Kept them out OF circulation but
they simply aggravated what was already a strin-
gent market The swelling volume of stock values
1nnated money, so TO speak, and made ii hide
bound. The extra turn OF the screw thus given
rendered funds scarce that borrowers, to avoid
the sacrifice OF their stocks the illrepute Of
made bank accounts. consented 10 the eXacton Of
AL sorts OF commissions ana 'shaves, - paying each
day at yearly rates ranging from 40 to l35 per
cent per annum. Toward tile close OF the
week there was sensible dimnution in
the scarcity, and IL was evident that the
banks were beginning 10 have more funds ut their
command. Unless by its moral eject ana an
excuse 10 bad debtors the strin1ency not felt
outside OF Wan street. and Mr.. Boutwell, Is, doubt
less now congratulating himself that he did no,
interfere TO HELM stringency occasioned 10y tive
sets OF Spectators the bulls'' being just as blam
able rs the "bearsn for the that with every
Zen dollars they possessed they were holding and
tying up a hundred dollars, while the ''bears'
simply held from circulation such money rs they
owned or their friends were willing 10 lend them
In point OF morality one party was AS bad as the
other. and so every impartial mind who understands
She situation viii pronounce.
THE STOCK MARKET.
The stock market consistent In its inconsistency
fell OF as money became easy saturday when
money loaned AT 7a6 per cent, witnessed much
lower prices than Monday, when money was worth
al the way from 20 10 l35 per cent. The decline
may be traced 10 the coying OF the speculative
appetite and sober second thought that fresh ven
lures at high prices may turn out disas-
frously. The elements for a revival OF the
speculation which commenced earlier in the
year undoubtedly in the street, the country and
the world. The blaze OF the fire has gone down,
but the solid embers are there ana ready for new
and active combustion when some influence like
the decisive ana unqualified settlement OF the Ala
hama claims unusual abundance OF money AT
this centre in the coming season shall fan them into
name again. There stil many bullish parties
and cques, OF great power, SKIN ana wealth, vet
organized and working at the Stock Exchange,
whose good luCk IL may be 10 triumph
over the growing GOODNESS and Indifference OF the
popular appetite for stock speculation. The week
10 is, therefore. likely TO witness determined
erort the part OF these combinations to maintain
prices and their prestige until they reach the deep
water ana smooth sailing Of abundant money. For
the same reason the ensuing week is likely to wit.
ness desperate attack on stocks and mercicss
crampening OF the money market before the
.sbears" raise the siege and retreat lust as Long.
street hurled himself against the walls OF Knoxville
10 storm and take 1t If possible before the adyanc.
Ing columns Of Grant should succor the bcleagured
Burnside.
Az for the decline noticed toward the close es-
pecially In the Northwestern shares Il reason viii
doubtless he found IN the particular influence Of
tho trouble and quarrel between the cities Of
Omaha and Council BuTs the folly OF which is N.
ready shown IA the diversion OF through freight 10
the st. Louis route. The shipper must carry his
goods or the passenger must make the best shift he
can 10 get across the Missouri river bridge. beyond
which begins the Onion PaciGc ana over which he
connecting lines dare not 30 unless they risk the
penalties or violating recent Law Of Iowa. Gem.
pelling all connections and transfers to De made
within her own borders.
GOVERNMENT BoNps-G0Lp.
The government bond market reflected tho more
legitimate Influences OF the relaxation IN money,
and Friday and Saturday recorded considerable
advance IN prices IL capital, which 40 along had
been connecting for the fayors or thc stock brokers
mad become convinced that these fayors could now
he hut temporary, and that it was safer 10 abide
with the consistency Of the government interest.
Gold was firm and IN the hands Of poo" who
src quietly preparing Tor demonstration later IN
the spring or a. soon ~ they can trace ami cal
cuIate the effect OF the May disbursements ~ coin
interest on the public debt was maintained be-
tween lIoi+ and 11o4s. Foreign exchange was
stronger with The advance OF the Bank 81 England
Tate 70 per cent.
the SOUTHERN STATE BONDS.
Considering he activity or the money market.
She Southern state bonds we're remarkably steady--
. condition due doubtless 10 the absence q any
extended speculative interest In the market \ can
siD1a o. the brokers' ofnces would reveal We think
very lew Of these securities held upon margin or
iioNen lof speculative sales Europe, just ~ the
"phhiog Of the recent luI0r for American secuH-
49, rocked over these bonds ana commenced c1-
pe'inchtrg with the yirginias which were taken
an'te Freely ior the foreign market until the semi
population ieays o. the late Virginia Legislature
were enacted, when Euruve gave them All the
ee-hy, hnd invested insread In our rai,
way mortgages ana shares wiih the easier
".he y money ~ sstrgay Tie new