, 1874-04-24
WALL STREET,


present, there will be no CAUCUS.
WALL STREET.
, Special Dispatch to Tbs Chicago Tribune.
New YoRK, April 23--The stock and golt
markets were very much depressed to-day. Il
Was generally believed among operators that ths
signing Of the Currency bill would result in con,
traction, and depression in prices would follow
on the heels OF such event. II any OF them
considered at all the possibility Of a
veto Of tile bill. and 1t ia not likely
| many Of them did, they doubtless made up thei1
mind that the result OF veto on the stock mar
| ket would be to
RAISE PRICES.
| It isn't likely any one would have disputed
these theories, and yet the latter oue is incor-
| rect. The present depression OF tho market is
condition is abnormal, and the bears assert that
prices being freed from tho bolsterinx Of the
] bulls, are only dropping to their natural level.
! Probably the decline ia due to tho advantage
gained BY the bears at their onslaught OF last
| Monday on the market, and the persistent at
tacks with which they have followed it up. The
| market
| OPENED At DECLINE
| Of 1@@1H per cent from the closing quotations
OF the previous day. and the decline Of from Is
was a recovery Of from 1@2}1 per cont. which
| WAS followed by decline OF from 1@374 Dor
cent. In the lowest quotations. Of the day
Northwestern common showed decline Of ~ per
| cent from highest point; Western Union, Wa
bash, and ST. Paul common, 3A@4 per cont
Rock Island, Northwestern preferred, Union Pa
| ciic. Hannibal i St. Joe and Pacific 1ai 13x@
| 3141por cent. and New York Central, Lake Shore,
| C. Q. i !. c., and Atlsntic Pacific showed a
decline OF over per cent.
OPINION IN OTHER QUARTERS.
| All the great lawyers aud dnnnciers OF New
York are rejoicing over the veto Of the Currency
BILL and believe that its effect will be, in every
respect, salutary. Below are some Of the opin-
| ions which some OF them have expressed.
OPINIONS OK TIE VETO.
Judge Edwards Pier1epont-" The veto will, in
my Judgment, lead to early legislation, even by
the present Congress, which will greatly improve
our financial condition. 1t is not so important
TINT We should return to oazlv paymeute in
specie it is that our policy should plainly take
/ that direction, in order to convince the
world TINT We mean to be honeet, and do
AZ the Government had pledged itself. be-
lieve the veto will greatly strengthen the Ad-
ministration party. II the President had signed
the bill, do not think the Republican party
could have long kept together
WILLIAM H. EvART5-
II WAS in Washington at the time Of The roto,
and carefully noted the expressions OF public
men. The feehnglseemed 10 be prevalent there
that the veto would cause division in the Re-
publican party. The ASSURANCE which the veto
gives that the Government is desirous OF specie
payments, Will U6 O1 AUfAukbR6 10 tQ9 CUunk1y 1T
home and abroad
FRANKLIN EDsos, PRESIDENT OF TIE PRODUCE
EXCHANGE.
"1n all my extensive correspondence with
merchants in tho West. 1Laye not found single
substantial businessman who favored imitation.
They all seem to coincide fully with our Eastern
merchants"
CYRUS ". FIELD
corroborated Mr. Edison in his statement regard
ing the sentiments Of Western business men.
A.. 4. Low.
''The fear even that the President would sign
the bill has crippled trade and redrced the value
OF securities Grants act has established the
fact that the country intends to redeem its
promises to pay. II taxes are to be levied, I
think tea will benr duty as well as any
other commodity
EDWIN DoBBB, PRESIDENT OF THE MECHANICS AND
TRADERS EXCHANGE.
t'The veto will be good long step towards the
settling OF tho labor question. believe that
sufficient, in the minds Of the people, to blot out.
or even neutra1ize, the many bad ones he and
his party have committed" :.
A. 7. STEWART.
1.-The veto will increase trade and give con-
merce healthier tone, as it will revive the peo-
ples waning confidence in the integrity OF the
Government. 1t ia too late, however, in my
opinion, to help the spring trade."
: IN CHICAGO.
The possible effect Of the Presidents veto Of
tho Currency bill upon the Republican party WIS
the subject Of conversation among politicians
yesterday, and there WAS 4 diversity Of opinion
it. Some held that it could not bnt be
injurious, and otherB-tha sangulne ones-be-
lieved thnt u rupture would be prevented by q
compromise. A TR1pukE reporter called upon
several OF the representatives Of tho Admins
tration to learn their views, and succeeded in in
ducug three OF them to talk, though
THE FIRST ZONE
approached exacted the promise that his name
should not be used.
The interview had with him is snbjoined:
Reporter-What do you think will be the effect |
Of the Presidents veto upon tho Republican |
party? !!
Iii. - It depen ds upon the future action Of |
Congress-.
Reporter-In what respect
Mr. - Upon the currency question. AB |
matter Of course. to-day, the excitement is up in
Washington aud men are threatening and quar- I
reling on account OF difference in opinion, and
nobody can tell precisely whnt is to come out Of
Eeto, and Morton and Logan, and that set Of
men should maintain their position, as think
hey will, and should sharply criticse the
that would make trouble inside the
oartY.
Reporter-Would it burst it up?
Mr. do not think it would 20 go far as
hat, but it would create q bod state Of feeling. |
Those things are healed up, you know, very
,ften.
Reporter 1T would result in division for
ime at least?
Mr. For moment, yes, on that currency
question; but how far it would 50 nobody can
av.
Reporter-Is not the party already divided
n it?
Mr. - Yes. The Congressman voted differ
rftv nrarfRn1r thA nemncrntS did hit {fprAi ia
larger difference Of opinion among the Republi-
ans More bitter cashing than this have been
ealed up inside OF political parties.
Reporter-Do you think the opponents Of the
i'll will now make concessions to those who
avorit7
Mr.--1sm inclined to think portion Of them
III feel the teceesltY Of doing something. :,