, 1873-02-16
WALL STREET..

Financial and Com mcrcin1 Review for
the V'cck--Thc Markets Yesterday.
Spectral Despatch to TIE Chicago Tribune.
New YoRK, Feb. 15.-During the past week
the striugency in money increased, the 1ato gen
orally being 1882. Foreign bankers have loaned
their credit freely to speculators against stock
collatera1s This has dcmoralized foreign e1-
changes, and carried down the rates for sterling
to o lower point than for some time past. The
speculation for a rise in gold haa made steady
progresss, and tho highest point Of present up
ward movement has been reached. Tho tho e1-
trenes Of the past week were 11s2l@114sa.
Government bonds have been steady and uni
form on small deallnGe
First-class railway mortgages ana other PRIME
investment securities have been drm, With
moderate demand.
The stock market has been irregular, and in
the main weal and lower. Large holdcra OF
stocks were free sellers during tho week, when
weak holders wero forced to pay fancy rates Tor
money. During the closing dnys,. the general
market drifted into dsllness, closing heavy On
the bank statement. The decline for the week
ranged from Il to 524 per cent, and was most
marked in Atlantic It Pacific preferred, winch
fell from ss to ost rn;an 2na ss naxt
dropping from ol to 8G11z on the announcement
TINT the Executive Committee had ratified tho
sale Of $4,000 shares made by President orton,
Later the stock rallied to 80, and closed at 6!E
@875k. Eric, Missouri, Pacific, and Hannibal l.
St. Joseph common huctuated 3A per cont each
Eric declined from 653+ to G3, notwithstanding
the dividend, but recovered to o515, and finally
closed at G31x5.
Tie bank statement is very unfarorab1e, IL
past week, lack, 1909 900 of the Is Per
fn bspts w were e. never before in this
condition at this season. The fact that they are
now so poor in reserve is stated to be due to the
severe contraction lnst year Of the per cent
Certificates, and by the unusually heavy ship
uents Of specie within the last sl1 months,
which in turn was caused By the fact that Eu-
rome took fow American securities during the
latter Bart Of 1872. ...
Many vessels delayed by stormy weather ar
rived this week, increasing the imports and Gus
toms duties.
Money was active to-day. opening at !-64 to
1882, but the rate dropped to !, ana lase IN the
day 1cnns made es low as 8. Discounts were
change ia against this city, and has been 30
during the whole week, causing drain OF Legal
tenders.
Was active and higher, advancing from 114h. to
1145z. The advance was attributed to heavy I'M
ports aud the bank statement. The shipments
Of bullion for the weak will aSgragase about
$3.50 goo. Of which over $500, 900 arc silver bars.
Only q few gold bars wero sent out
STOCKS.
The stock market Was weak and lower. Ihere
is Washington pool in Union Pacific, the NOM
bers of which have been selling hoarily: In
Lake Shore, the contest is for the control OF the
road it being understood that if the present
managers remain in power an alliance will ba
made with tho Erie.
BONDS.
Government bonds we're firm On higher gold.
rE0DTJCE.
Flour was weaker for medium spring and low
and medium winter. and heavy for shipping ex.
tras. Family grades wore steady: Wheat
opened very strong, especially choice spring
Winter quiet and unsettled. The market closes
quiet, dealers apart.
Pork was firmer and fairly active, with sales
| OF 1880 brls new mess for April at S14621@
l4,75, and $50 brls do for March at S14.62]]99
New mess quoted at about s14.C0 cash; 400 brt:
extra prime sold at 9l1.50. The market Is arn
Tor dry salted meats; for shoulders. 53Sc asked
5Hc bid; and 10@11c for abort cut hams OF
SPOT. Bacon was firm, with gales Of 100 bozei
long clear ut 71{c; short clear is held at 7s4c
| Lard was firner, but not active. Sales arc 70
| ported OF 100 tcs prime Western on dock at SIC
| 500 tcs do for February at 81sc; and $50 tcs fo
April at 85zc.