The New York herald., 1875-03-24
WALL STREET NOTES.

PACIFIC MAIL MArTEns-srocx EXCHANGE
PREsIDENCY-ooLD aRABBEns, &C.
Yesterday the street was excited by a market
which was al once a puzzle and q temptation. A
puzzle in the first instance because In the face OF
large pronts to holders. IL persisted In advancing;
and temptation because the high prices were an
incentive to realization. The revelations as 10
PACIFIC MAIL
showed conclusively that IT'S management waa
thoroughly committed to the Union Pacific policy,
and there were persons bold enough to avow that
the retrenchments inauguratcd were not Sufficient
to insure dividend. 1t was announced on au hor.
ity OF the company that IN every department severe
economy was TO be exercised and every detail
scrutinized so that even excessive bill for
tionery should not be passed. The offices were to
be removed to the loot OF Canal street: the eXpen,
sive supernumerarles were to be dismissed IRON
New York to Japan, and, in fine, Mr.. Scotps policy
would 60 50 far as to clip salaries from managing
directors to chief cooks. Mr.. Hatch seemed al.
ready 10 accept mis- position as an eI oicto oficeI
OF the company, by appearing In his original rOth
OF q stock broker, ana actively dealing Ia shares
on the Exchange. ''as was ms won't upon an alter.
noon.o He pleasantly remarked TO HERALD
reporter that there were
THREE GREAT MoNoPoLIES
In Amerca-tne Pacliic Mail route, tue Union Pa.
cfc and The Western Union Telegraph Company.
30 1t woula seem that at length the lions aud
lambs have found a common pasture where tneJ
MEETING OF CREDITORS
Of Gross, March Co. was held yesterday after
noon, at which q statement oil the AFFAIRS OF The
concern was made. Upon application t0 the hrn
Information was obtained that tile condition D
their hnance5 was not yet ready TO be made pup
llc from which it Is Inferred that the showing
was not OF tue most favorable character TO the
creditors.
THE STOCK EXCHANGE PRESIDENCY
continues to excite comment In wall street Mr..
Jonn Norris, OF Greenioaf IL Norris, Is the most
prominent candidate IOr election to the office;
but the uames OF George W. Mclean and Jenkini
Van ochack have been mentioned. rne latteI
gentlemen states, however, tnat he Will not run.
THE GOLD GRABBERS
weakened little yesterday In their Efforts TO ad
vance the premium. Iie venerable head OF the
boys" every day. and 50 gives them neart to try
new ventures; ; out 1t Is believed that the exlgen-
ces OF the merchants are not such tBat the partes
IN power can control the market according TO their
will.
INFLATION AGAIN
Is indicated In the report from washington thar
s70O, 900 additional bank circulation has been
issued during March, on which eighty per cent OF
legal tenders has been retired.
A cloud on the clear sky OF Union Pacific kaik
road was not without significance yesterday.
telegram received from Washington stated tnat
the Attorney General had instructed the Dlsttict
Attorney to enter suit against TIE UNION Pacinc
Railroad Tor sl,030,0O0 and against the kausaa
Pacific Railroad Tor 100000, being nye per cent
of the net earnings.
STOCK EXCHANGE HOLIDAY.
The Governing committee OF the Stock Ex.
change yesterday granted the request OF the
Board 10 close on Good Frlday, ana recommended
that ali contracts ialIlng due on mat day be set
tied on the preceding day.