New-York tribune., 1872-09-16

OF the Clearing house Association lately adopted pre-
clude bank from lending itself 10 the furthenoe Of
such schemes under penalty OF dismissal from the Clear
ghouse. The law OF the last session for facilitating
Clearinghouse operations works successfully. During
the week the deposits Of legal tenders by the banks with
the Assistant Treasurer to So365OOO tAat amount
OF certificates having been issued.
In tho market for commercial paper the nOtebrokers
report an active business the predominance OF paper
now in the market being the signatures OF dry
goods houses Such paper OF prime grades quote at
99lO per cent, though some gedeed names 20 as low
g. The condition OF banks does not admit tho
taking OF any important lines, as the banks baYe
all they do to supply the requirements
OF their regular customers The recent heavy
failures OF Baltimore and New-York houses
engaged in the sugar. coffee, and trades IL likely to
affect somewhat the market for discounts for the reason
that NewYork will have to bear great portion Of tho
losses. Ia these failures trace the effort sustain
the prices OF the above commodities, despite the repeal
at the last session of Congress OF the tariff duties Tho
firms in question loaded up with heavy lines and
awaiting higher prices against disposition on
the part Of the public 10 contend for
lower range natural In view OF the
reduction of the impost such articles. Since the
lower tariff went into effect the amount Of goods lifted
from bond has been very large, requiring such an
OF gold to keep that market pretty well sup
ported without the aid of speculative interference Thus
we report firm market for gold during the week. within
the of 1I2E and 13i The speculative interest
IN the market has apparently subsded. The awards
made by the Geneva Conference TO the United States
have had very little If any influence the gold pre-
MUM, and range OF only per cent was caused by tho
smart depression British eonsOs and United states
securities The highest point In gold was attained under
a rumor that the Bank of England would advance It's
minimum rate Of discount at the regular weekly meeting
Of the managers on Thursday. This expectation was
predcated upon the apprehension that foreign funds held
II fYa1 1atrf. NO in W
ment Of the French Indemnity loan. This fear was
seemingly well grounded, the bank lost during tho
week In bullion aIS4OOO sterling the Bank OF France
gaining the time 100000 francs NeYertneiess'
the continued its rate at 81 cent thereby add
ing further the weakness OF foreign exchange Inc
sterling market has been weak throughout un-
der the heavy pressure Of borrowed bulls, prime
co days having at ono time gone low as lOib
The difficulty OF cash gold during the early days OF the
week also added to the weakness, but as 1t became
accessible IN later days exchange stened up at
the Government bonds have been heavy and lower
the other side in consequence OF unsettled continental
affairs in the later days Of the nrm feeling
has pervaded the home market and prices in all the do
scriptions stened up, the FyeTweDes OF 1867 ad
yancng to l13t. There is yet but limited inquiry for
any Of the various issues.
The stock speculation has not involved any important
movements during the week. and the market has pre-
sented considerable rregularty with higher basis OF
trail speculation noted at the close of last week has
subsided since it became known that the only dividend
TO be paid this Fall the regular halfyeary one oi
per cent Tie anticipated scrip dividend of 10 per cent
seems for the present fallen through The range
Of the stock has been 9si and par, Harlem ranging at
3afi4 Lake Shore has been freely traded mat o Ge9s
Northwest Common showing fair business at 725974i
These shares are being appselty manipulated by tho
same combination which represents much wealth ana
standing. For the last few months Union Paenc mas
been undergoing important changes, and IL is
now believed that by far the greater part of the
capital stock of the Company Is under tho
control Of this clique large short interest has been
epgendered in the stock, and accessons to t have
been made since the expose Of the Credit oDer scheme
The stock has been lent to the street very literally and
TO the urgency of the demand for its use may be IN part
traced the cause the rise from sc TO 3 The fact that
the four aforementioned roads so lcosey affiliated
in their management leads to some queer gossip
to the effect Of prospective amagamaton
OF the combined interests under which tho
latter road is to be based, at an annual rental
of per cent equivalent to upward OF SOC0O0O on tho
total sharn capital. will he readily oomDrehended
what will be the advantages accrung under consoGa-
ton under one MANAGEMENT. series of managemens,
whereby an unbroken line from the Atlantic to the Pa
ce coast is tanned, The magnitude OF the undertake
ing is too staggering for full credence Erie true 10 s
instincts has betrayed its usual conspcuty and toward
the close Of the week became decidedly active and
having been so pressing that at times there was differ
ence Of to per cent between cash and regular trans
actions This is the to-day the stock having ad-
vanced to 50 cash. selling at the same time at 5 regular
though later sales reported at 81 C. C. and l. Z.
took an active upward rt from Ssh to ST. holding up
pretty well at the close, but irrespective OF these tho
features have not been marked, and our comparative
table OF weekly prices will give full and
complete history OF the doings To-day the abovemen
toned stocks commanded the prominent attention OF the
street. with nothing in the way Of gossip to add
The tone Of the market strong during the forenoon
and prices advanced only react when the bad features
of the bank statement became known, recovering still
later in the day. and the market closing strong Outside
NJ tbe speciaties dealings were limited Panama sold
at 1884, Dell Lack and Western, 1908; Del ana Hudson
Canal 49, and c.. B. and Quincy, 1884, Quicksilver Pre-
ferred advanced 55 In the expresses Adams fetched
oOl and American COZ The opening, highest lowest aud
closing prices of stocks were as follows
Opens. Highest. Lowest. Closing
n. Y. Central Hudson COnsord 70 sl eI Si
vrlarl.. 5lt - SIT