New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-15

FRIDAY, Nov. 14--P. NJ.


The steady and almost unchecked advance in
stocks during the past three days encouraged the
hope in the minds of many of speedy retarn to
ante-panc prices To-day's decline has IN a measure
dspelled the delusion. The course Of the market
seems to be in keeping with the general financial
situation. Our banks and trust companies have
been holding large amounts of collateral securities
at prices that are in some higher than any yet
attained since the panic got fairly under way aud
whenever the quotations reach point where these Sc
curties may be sold without loss they are put upon
the market, and the effect is OF course to depress
prices. This process may be expected to go on Tor
some time yet. and until most OF the old matters
are closed up there cannot be an uninterrupted I'M
proyement in prices. The "speck of war " is new
and unanticipated element, but that can hardly
affect railroad stocks unfayOrably, though IL
produced something Of q futter among the
holders of Pacific Mail shares and actually car
ried down the price of this speculative favor
tie several points. The general view OF the
Cuban matter is. that our Government Will
do little for the present than maintain an ell
cient Naval police near the principal ports of the
"ever faithful" but extremely turbulent little
isle" until the parent. Government can give the
subject its attention. The rise in gold is by some
attributed TO the same cause as that which depressed
lions that strong parties commenced buying gold at
about g. and the rise may in degree be ascribed
to their operations and not entirely to WAR
OF rumors of war; IL so, the design Is doubt
less to carry coin TO much higher prices,
unless per adventure, an untimey exposure
should defeat or postpone the consummation OF the
plans of tho clique. The general STOCK market
was disposed to irregularity from the very
start, effected perhaps to some extent by an I'M
founded report that an officer of the Missouri,
Kansas, and Texas Railway was dcfaulter to
large amount. Up to about half-past IL the market
declined from to per cent, Pacific Mail leading in
the downward movement, and dropping OFF from 20.
to 26.. After the time mentioned steadier feeling
prevailed, and a general recovery ensued. Pacific
Mail, however. moving up less rapidly than
the remainder Of the list Just before the Second
Board there was another spell OF weakness, sue
ceeded by rally The firmness was Of short dura-
ton however and when the rumors about the death
Of Commodore Vanderbilt came there was renewed
depression and the lowest prices of the day were
touched. the Vanderbilt shares suffering most The
street was actually flooded with these rumors,
and numerous dispatches received by
bankers and brokers, purporting to come
from members of the Vanderbilt family,
signed &C. ". jr.," or w. H. w." saying: Fathers
dead don't tell the street, but up once" &c
One dispatch bore tho initials of Mrs. Horace f.
Clark, and stated the precise time at which her
father died. If these dispatches were invented and
transmitted out OF "pure eussedneSS" and just to
create an excitement in Walst., they are bad
enough, and the perpetrators ought, If possible. to
be severely punished but it is more probable that
they were put in circulation by disreputable specu-
lators to affect the market and this view of the
suggests the presence of desperate bears than
are generally supposed to have inhabited the street
for some days past. 1t is difficult to find words
within the limits of decorum fttingly to describe
tho creatures who resort such means for the pur
pose of affecting the price of securities. There
seemed 20 be doubts as TO the truth or
falsity of the reports up TO tho close OF business
though less credence was given the story Late
in the day, as may DO seen in the
final recovery of prices the Stock Exchange. The
market closed with frmness. though at a consider
able decline from the highest prices Of the day and
q less depression from the opening quotations. The
opening highest lowest and closing prices of active
stocks sold az the Board to-day were as follows: