New-York tribune., 1872-02-26
SECOND BOARD P. y
SATURDAY, Feb. gl-r. n.

The week Just closing has not been char
actcrzed by any startling events in financial circles Inc
gold market has assumed frmnes- and the price mas sd
yanCed about Of per cent to ILL., the business oil the
week being however, rather limited There appears 20
be an absence Of any speculative interest 60 push up The
price Of gold and may, perhaps. find th" eNQand'
ton in the sharp rates for foreign exchange The
agitation OF tho Alabama question was suili-
cicut TO check the negotiation ot bobds
in Europe and hence we find scarcity Of bond bills in
the market and commercial bills are also in scant sup
ply. our export cleaIanccs running rather Hight,
and our import unusually heavy the goods taken
ont Of bond standing much hi cher than usual Is VIII be
seen bv The statistics Of foreign below. Not
withstandng the fact that have had but five business
DAYS this week, the gold payments for iutles at the
Custom house have amounted 20 nearly s3OD""
averaging sgs2GO per day. These heavy imports
Of course require much larger rcmittanres "nleh
must be made largely in specie Hence the
advance in the rates Of exchange and the prospect OF
increased specie exports early in March At the present
quotations. double eagles be exported without loss
A vet the Bank OF England has not advanced IFS rate ot
discount beyond per cent, so that despite the SSht oe
uresson in American and foreign securities on the Lon
don Change there would seem to be m the minds or
the noneyed men OF England no serious apprehension
OF trouble growing out Of the hitch in
the adjustment OF the Alabama claims.
Government bonds have been strong, AMI close
this afternoon considerably higher than last saturday
Business been lighter than heretofore, though the
domestic inquiry has been fair and the foreign bankers
have also been quite free buyers OF new 1865 new Fves
Of 1851 and Ten-Forties since their late aggressive
movement against these descriptions Of bonds. While the
course Of money has not apparently entered much
into the drift OF speculation. rates during the week
have gradually hardened, aud in many not only
was the legal rate in gold required for borrowers on
stock collateral, but high l16 and OF per
cent per day in addition TO the legal currency interest
o.r,fI guUTlru is nFpsu qipl
that these high rates were in part the result OF
artificial efforts 20 provoke a decline in values
bntthere are natural reasons Why money should rule at
fail rates The bank reserves are now down to about
kOlOoO in OF required legal surplus while the
trade requirements unusually large. The banks
have also much less greenback reserve to bank upon
while the loans are very much and dsproporionaely
eypanded With this reduction in their condition
they are called upon to meet unexpected demands
within the next six weeks, including the lSt of
April which being general settlement day IN the in
terror is always or less followed 10y temporary
uusettng of things here. Ia stocks the variations on
the general list have covered by OF to ,!
por cent the absorbing feature being Union Pacific,
which has been point for the other shares 10 turn
upon The extreme range was 3SJ made on Tues
day, and 32i to-day. The activity in this stock,
and the wide fluctuations attendant upon II,
have been mainly traceable to the desire
TO control stock for the next election TO he held On the
9Th prOXlmO, the transfer DOCKS clOSluS lo-udN Iit
transactions in the stock enormous, and the excite
ment at times over at fever heat 1t seems to be
generally believed that what is known The Vanderbilt
party hold majority OF the shares aud that Mr. Horace
f. Clark President of the Lake Shore. will be chosen
President OF the Union Pacific in place OF Mr.. Scott
Teegrams from Omaha report the road clear Of snow.
The receipts January 4O00) and for the drS 10
days of February 7O00a very good result consider
ing the blockade.
This morning the stock market ruled weak and fever
ish al the start after developed >tcadcr feel
ing which continued up t0 about l o'clock, the main
features OF interest being Union Pacific (Which settled
down into condition of quiet), Pacific Mail aud West
ern Union Telegraph The bank statement made its ap
pearance at early hour, but despite the u1avoabe
features stocks became strong and advanced to the best
prices Of the day, and in the of Pacific Mail OF
the week the heavy freighrs the iue and the inn
proved subsidy prospects running mp the price to 59l
Union Pacific selling up to 34i. and Western Union to
o. New-Y0rb Central, Lake shore, Rock Island. and
Northwestern Common firm, but not active. Bos
ton Hartford, and Erie sold at 3i. The investments
were dull miscellaneous shares steady aud Express
shares strong and higher, particularly in Wells Fargo
which to a. The following table shows the highest
and lowest prices OF active stocks made to-lsy:
HIghest.LOwe,tl tighst.Losest
Y C. 4 Hudson 90. Mi. St p Pel.....