The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-03
CLIQUE PLANS FOB THE FUTURE.
"A Charge All Along the Line and Then
Change Of Front.
SATURDAYS BANK STATEMENT.
WALL STREET,

enoe Of condition OF things In the money market
moro peculiar to the months of october and Ne
,vember has eliminated In regular Fall
DECLINE IN PRICES
at the Stock Exchange. Theorists they may be
who will assign all the depression and excitement
of the week to the decentralization occasioned by
the panic in Pacific Mail; but had money been
easy, tho hundreds who were Juggling their burden
pf that stock would never have had to get from
under the load. and Stockwel anu his friends might
have yet triuMphed over the long series Of mis-
fortunes which attended their speculation ever
since the stock began receding from par. The dis
,couragement OF weakening margins and harden
Ing money market was too much for
THB AVERAGE ''BULL"
In Pacific Mall, and rs one after another began to
relax his grasp upon his lOng-held shares, and as
still other stock began to pour in upon the brokers
of Mr.. Stockwell, In the process Of delivery upon
guarantees, the market broke down under the &C.
Cumulation, and tho price fell to 55H, or Is per
cent since the previous Monday morning. 1t is
difficult to say, furthermore, how long the "buls''
might have maintained the contest against tight
money had not Congress commenced
AN INVESTIGATION
Into the charges that bribery had been by the
company to secure the legislation last Winter
which granted the line an additional annual SUBJ
sidy Of half o million dollars. This movement had
further demoraliztng effect by inspiring fear
that Congress might feel justified in withdrawing
ythe subsidy were the charges sustained. The break
In Pacific Mail caused an even larger decline in it's
fellow stock, Panama, which, during the week,
went OF from 123 to 95, but reacted at the close to
40. obviously enough the
PACIFIC MAIL TUMBLE
was followed by easier money and, after the first
excitement and depression, by stronger feeling
in the stock market. 1t appeared to be the
Cicari0ua nac off nm on hob oR of
wearted and discouraged 'bulls' all over the
street, The relaxation in money toward the close
was exemplined In the prevalence Of such compar-
atively cheap rates as 1872 per cent after earlier
dealings at as high as y as = common thing and q
per cent as an occasional
DAILY CLIMAX.
in fact, loans were made on Saturday at as low as
per cent but before three O'Clock the same after
noon the rate had recovered to 1872 and interest.
30 far as the general situation indicates and quiet
rumors intimate the money cliques, the 'bear'
ciques and the gold ctques will make one more
desperate demonstration upon the markets before
they their positions. In this connection it
Is said tho money clique will make Q terrific
squeeze" within the next few days, and that at
The same time the "bears" will "jump" upon the
stock market.
THE GOLD CLIQUE
commenced the feint on Saturday, when they
drove the quotation up to 115n, than which, with
sight sterling 100 1924, there is no more inflated
quotation In Wall street. Stress is laid upon the
current enormous imports but the clique seem
eblivious OF the stream OF exports. Up to last
week the imports at New York, since January /,
we're about $e4 ooO, ooo and the exports therefrom
s3e 200. Now, New York imports about two.
thirds Of all the imports of the country but experts
less than tw0-ffths OF all the exports of the
country, and the discrepancy is growing
wider and wider every year. Could we
get At all the statistics Of all the
ports we should ind that since the 1st OF January,
or since the gold Clique have undertaken to run up
the market, the exports OF the United States have
actually exceeded the imports. According to the
figures and ratios already mentioned, the exports
have been about $o7,5oO0oO, and the imports
$4,000 600. So much for the argument Of the gold
clique based upon the heavy imports at the port
of New York. As for the money clique, they are
likely to be deprived Of any further help OF the
part Of the Treasury, as the debt statement shows
that the greenbacKs are now down to the level OF
last Summer-viz, $356, 900, O0o
LATEST PRICES OF GOVERNMENTS
The following were the closing quotations
aor government bonds:-United States currency
,sixes 114H a 114K; do, 1881, registered, 1853
a 116X; do. do, coupon, 1854 11sZ; do.
6ve-twentics, registered, May and November,
115x 1l5K do. do, 1862, coupon, do 115H
q 115X; do. do. 1884, do. do, 1853 q 1151; do.
do, 1865, do. do, 116x III; do. 1867, regis
tered, January and July, 114% 1l4zs do. do, 1885,
coupon, do, 114% 1l45s; do. do, 1867, do. do,
1l6x 116X; do. do, 1868, do do, 1862 1865;
do. ten.forties, registered, 111A 1ll1z; do do,
coupon, 11lx 111X; do. fves OF 1881, registered,
I1sK lls'l; do. do, coupon, 1875 1ls7s.
~>. SOUTHERN SECURITIES.
The Southern State bonds were heavy and lower
for most Of the list up to the middle of the week;
lint haoo AZ nfuoly y rann
. portion OF the decline. The dealings were chiefly
In the Tennessees which closed at 81. The March
Interest on the certificates Of the receiver Of the
alabama and Chattanooga Railroad is now being
paid By she New York State Loan and Trust CON-
pany o. Broadway. The following were the closing
quotations OF the Southern list inclusive Of latest
prices for the leading Southern railroad and munich
pa: bonds Tennessee ex coupon, soA q 81; do.
new sOA 81; Virginia, ex coupon, A SO; do. reg
istered stock, old, 81 AZ; do. SKIES consolidated
bones IS 65x; do skies, deferred scrip, 10 1874;
Georgia skies, 10 q so; do. sevens, SO 90; North
Carolina ex coupon, 81 Q "a; do. to North Carolina
Railroad 50 q 6l; DO. funding, 1866, % a ~; dc.
funding 1858, 20 "a; do. new, II 10; do. special
tax, IA 10; Missouri skies, "a a 94h; DO. Hanni-
bal and st. Joseph 81 90; Louisiana skies, IS 30;
do new 45 50; do. levee skies, a. 80; DO. levee
cights, so IS; levee Fights, 1875, 90 10; ALABAMA
nves, 81 go; DO Fights, 50 o 81; South Carolina
skies, IS o As; d. new, January and July, 2oh
Il; do. new, April and october, 20 %; Arkansas
SKIES funded, 20 so; Mobile and Ohio Railroad
sterling, 81 Q %; do, interest Fights, SO 90;
Mississippi Central Railroad first mortgage sevens
IS 50; do. second mortgage eights 50 So; New
Orleans and Jackson nrst mortgage, 90 90; DO.
second mortgage, IS a 81; Memphis and Charleston
railroad first mortgage, SO 81; do. second mort
gage, so 50; Greenville and Columbia Railroad,
guaranteed By South Carolina, 50 81; Macon ana
brunswick Railroad, guaranteed by Georgia, "a
AZ. Memphis city skies, go 81; Savannah city sew.
ana "A 10: New Orleans sevsns. 90 q o.