New-York tribune., 1873-03-01
Emmy. Feb. 29-p. NJ.

With money trihe easier to-day there has been
sensible diminution Of that excitement and fever
which prevailed in the stock market yesterday and
during the afternoon of Wednesday yet the trans
actions have been very large, especially in Pacific
Mail and Western Union. The market, however, Is
By no means settled, though fluctuations are less
important Now that the furry is partially over,
the enthusiasts for higher prices fail to take any
lesson of experience, and reason that lit was not
much OF shower after all and go in their blind
way without even thinking that they may speedily
be brought up with a round turn. We fail to dis
any traces of strong buying since Wednesdays
break down, Of parties who represent capital, and
who, when they enter into speculation, go in for
"ong pull, and a strong pull, and pull altogether"
The siren of easier money may interpose to seduce
smaller parties into buying and to weak holders,
unable to bear any violent storm, is nearly every
sharp decline due. inasmuch at the slightest
snuff of danger they part with their speculative
ventures, in many cases regardless of cost To the
long heads of the street. the buyngs of the last day
or two are looked upon so many preliminaries to
a repetition of the late furry even without any adj
yentitous aid. Money to be sure is little easier,
but the recent condition Of that market Is substan
TALLY unchanged, and the power that gave can also
take away the market not being in that
position TO warrant heavy purchases without
corresponding means TO carry them at
DISADVANTAGE of n good many points. We base our
reasoning on the present situation of affairs, though
II the Treasury should feel inclined to 10 the
rescue by emitting those SHOOO,O00 greenbacks,"
we opine that the impetus to speculation would be
sufficient to satisfy the most earnest adhe-
rent of currency expansion. large busi-
ness was done to-day in the leading shares,
the tone Of the market being irregular and unset
tied. At the opening prices mainly strong, but
a desire TO realize ON the purchases of yesterday
quickly created an impression pretty much all over,
most noticeable in Pacific Mail which has been the
overshadowng feature Of the Market this stock sig
nalizng itself by break from 62l TO 55s on pres
sure of sales. 1t may be added here that nothing
has been elected by the Investigating Committee at
Washington showing any irregularity in the granting
of the subsidy. Aside from Pacific Mail, the decline
was to II per cent, the early break being succeeded
by general reaction before o'clock. At the Second
Beard prices were all at again. The final reaxa-
ton Of money impaired fresh buying movement.
under which the entire market made sharp recOv
ery in some cases above the hitherto best prices Of
the day Pacific Mail in the reaction going up to 5Sl
Western Union, 90i Ohios, 4Gs; Lake Shore.
q. Columbus. Cincinnati and Indiana Central
4O,: Rock Island. 1l3s and NewYork Central 1O3!.
Eue was strong all day, and advanced point to
Gl rising in London from 81. to 52l; Union Pacific
was also firm, without any violence in the move
ment. OF the leading stocks sold to-day there were
gGOOO shares of Pacific Mail being only trifie less
than one half the capital stock of the Company;
50 900 shares of Western Union Telegraph; 1900 Of
Erie; 5000 Lake Shore; and 1900 shares OF New
York Central and Hudson. The opening, highest,
lowest and closing prices Of stocks sold to-day were
foIi