, 1873-02-27
WALL STREET.
The Squeeze in the Money
Market Yesterday.
A Panic Among the Stock Brokers'
Great Depression in Shares.
Advance in the Gold Premium
The Produce Markets.

NEW YoRK, Feb. 26.-Wall street has been full
Of feverieh excitement throughout the day, but
tho actisity Of The stock market did not cultni-
nate until late transactions. Tho morning trade
WAS generally steady, with good volume Of
business, hut not specially noted for any
marked fluctuations, il we except Pacific Mail,
Union Pacific. and Erie, all Of which advanced
about l per cent. Pacific Mail, however.
WIS soon freely pressed for sale,
and not only lost the advance, but
dropped from 6976 to 68. At the first Board
there was slight improvement, and the market
continued quite steady until. at the O'Clock call,
prices began to drop, with Western Union. Paciac
Mail, Now York Central, and Lake Shore heavily
pressed for sale, though the weak holders did
not becoma thoroughly alarmed until after in
the afternoon, when an indscriminate throwing
overheard Of their speculative ventures COM
nenced-
Tho :. bull" pool in gold, who had by this
time forced up the price Of money to
Il Of per cent per dioua, equivalent to 91}4
per cent per annum. now engaged the stock
market. and BY their vigorous hammering Of the
leading shares ratified down prices from ~ to
nearly Il per cent, the latter having been on
Pacific Nail, which during the raid dropped from
69N to 5919, because OF 1umo1s freely circulated
that President Stockwen vaH unable to meet his
obligations due on 'put" contracts. Reports OF
an exciting nature were quickly carried through
all the seriousness usually accompanying .
frat~class panic, bnt, toward the close Of busl-
moss, there was general rally OF 2 to ~ per
cent. The chief attractions were Pacific Maii
aud Western Union, tho dealings in these shares
having been very large, but NV Yo5E Central,
Lake Shore, Union Pacific, Ohios, and Eric wero
also prominent. During the excitement Western
Union touched 8356; Wabash, 71s1; New YORK
Central, 10o1 Lake Shore, 90; Erie, G32o; Rock
i Pacitio preferred, %; Union Pacific, a31z:
and Ohios, AK. Panama, on transactions OF
only roo shares, late in the afternoon fell from
La to IS, the sales having been in the last 4Oo
shares, as follows: Ia, lbs, 1o2, and IS. Bos-
western shares, HANNIBAL t. St. Joseph. the St.
Paul and Quicksilver did not enter into
the days speculation. The raid thus a.
ternoon was one G1 no o. most nos ,e1s 11gott4na tn,s
Witnessed ut the Stock Exchange, but while the
market closed feverish md unsettled, yet
better feeling prevailed at the close. The clique
in gold have demonstrated their power to con-
troll that market They have also been able to
depress the stock market, although to-1notro"
may possibly bring natural upward reachon.
The total number Of Rhares doalt in to-day vas
0,ss4, Of which Western Union represent I'd
70, ,92l Pacific Mail So 600 Lake Shore, IS o1o
New York Central, 80, ,4o5 Erie, 2s, 4ooi Union
Pacific, &c, 600 O1ios, q, 900 Cleveland, Co
lnmbua l. Indiana Central. 1900; Boston,
Hartford & Erie, 100 Mabnsha 15a SSoo si. %:
l. Pacific, preferred, 500; Quicksilver, 800 and
| Hannibal s. St. Joseph, 100. The changed
{ aspect Of affairs has had huosant
effect on gold, and the = ye5lhcaslon p & of the tho
| half the original amount gave the premium q
further lift to 1157z, especially in view OF the
| other causes for q Mgl,er ruling still in force;
! The London market, however, IS quiet, and
| against the turn for higher gold, foreign e1-
/ change also being weak.
MONEY.
The monetary st1ingency has been more Be-
we're to-day than at any time this year, loans on
call commanding sixteenth aud interest from
/ the very start among the brokers. Before mid
day II lat Was bid, and the afternoon fonnd Dor
roHe1a paying th1ee-aixteenths and interest
h asana en- SaTs bs + hs
Goi5'sss o,a to3sV uas a at. Discounts are nominal
The etringency is artificial and it Is Impossible
to Say when it will terminate
BONDS
| The bond market, under the strength DIS
higher. The German bankers are again in the
| market as buyers, and q considerable amount o1
| bills drawn against such e1por have beeu
negotiated The market closed firm.
| =: PRODUCE
| Flour closed lower for Ill grades under $40,
with increased disposition to sell. Wheat closee
| lower and unsettled Shippers hold on Pork
| was generally quiet. New mess Is quoted at
| about 815. There is some demand for dry sa}ted
| shoulders; 200 boxes sold on the spot at &C.
The other business reported was 100 tierces
picked hams, IS lbs. at 12c, and 5000 picked
bellies, 1o1k ibs, at 8s4c. Bacon WAS fairly &C
tive, with sales of 1850 boxes at TIC for Gum.
berland, &c for short clear, 7A@7Bc for email
lots long do, aud 3}Sc for short clear for tho 1as
| half March Lard was dull, with sales OF Is!
tierces Of Western prime on dock At 7-16c, ant
$50 tierces do At 8sSc.
coat RALEg-
At the sales of Scranton coal, to-day, iumI
scld at ss85@3.9211zz steamboat, 34-o2;1@@4 20
crate, $4.15@425; egg, $4.45 stove, 55.2oea
R.22k chestnut, s3.95@4-00. This ID allgh
advance on last months prices.
The Pennsylvania Coal Company hare "a
vanced their prices for coal for March over Feb
uary prices at the rate Of 30 cents per ton On 81
sizes except stove, which il GO cents ton high
er. The retail price has recently advanced L
the city.
! THE WEATHER.
| Grcat Snoxr-Storm In iowa and mfn
uesota--S1spension Of Trnvet-~Wa
Department Representations.
| WAR DEPARTMENT, OFFICE OF THE CHE