The New York Herald Newspaper, March 5, 1873, Page 8

NEW YORK HERALD, WEDNESDAY, MARCH 5, 1873.—TRIPLE SHEET, A i 4 Chick alt 03 | 20H & : FINANCIAL AND COMMERCIAL ee oa cite soca x | cassie a rc par AR A A Obie ¢ Hise con Wa 8 Boo Western Union, #7 #2 a #3 | may not ve immediately, for it takes some time to | }i.' i. a tse. 5 Anizowtura,, 173gc. 0 Ise; Favan 97 Ohio & Miss 2d m. fx | 2000 Tol Bic HBS. 0: qname, rd & 89% | get over the severe check he has received, but he | gud wdsys could theca iit eet byt Bub a stots Cu BL | MB Gt Western 2. By Su NOR Wellebaree idk SM a Tia* $ Ith, | Willeventuully rise aboye all this and reconquer | tte took or io im the Uulted staten as oliowasedelver: oe 10. Am M 06). ‘ original prosperity. mm, 3,000 3 Ne Ork 6.9315 t BP MLC ees | IKON 2 100 de O'S Hapreaie. Ti ie “And you think he will remain President of the | Balumore, 1aa, New Vere aissr Toist ciech bee The Money Market Stringen 1 M&StP itm 91% | ioc, c : ii ae yt ae. an) oR. b tical, 1,306 bbls. an but Unsettled. He MAGS E | Be: ee Gaels, Bee | wc te! HOP net, Tar cat net, te rt a i te 0}. no, no do. , aro me, It has been said that I should take Mr. Stock- 5 “10% Col, Chic & Ind 26 | Sw Am Di : 98 100 do. CU ME Ovvveee 8° Se | weirs piace, and Would ve the next President of he for shipmen: ‘3 jelly ie & 8 ms... 96 Tol, P & W'con 70 lo shi i untrue as the other rumors. ere | No.2 ‘3 © quote -— The Rate on Call Recedes from 1-8 and Aid era det NVA Non mete i : ‘a for iki THE PACIFIC MAIL POTHER. ollered the Position 1 snouid hot ccept It, Xo Superfine Stata Mert i & Min fo" | 13 Del& Canal...) 12 100 Si i a aa fluest positi o1 iise as Interest to 7 Per Cont Coin, and Sin hor CaM tig © | Beno ea Mecting of the Directors of the Pacttie | the Continent, “Ianall ever tase another “execu: tia 85 82 y f q Mail Steamship and Panama Rail- ve’ tion. I find myself easier and happier 73a 7175 Closes at 1-32 and Interest. the Bouchet Baka tne et usied un, put | 32 wus spa uns putaide of such places. wii Thad yen a position Roun Hoop One, iif ten oe poker isd capo ce transacted serdar tee as oo The excitement which has reigned in Wall street | alone fo ae ble and war, Now I am le! Round Boop Ohio, trade brands. a be usual % essees Were weak and de- sig 200 for several days past culminated on Monday, and CAN LEARN THE SECRETS, 4 75a 850 520 f * St Louis straight STOCKS STRONG AND BUOYANT. clined to 60. The others were steady and perhaps ax 30 Was yesterday somewhat on the wane. Those who | yyhich peo) (ys Cee CO Aakae rl St Louts choice double fetes a shade firmer, The following were the closing quo- ; eee are “bearing” the Pacific Mail stock were as bel- | Stockwell has always been a very successiul man, | Suiiouschoice family. 30 a 1b 5D pogo esa ex coupen, 80 La 80% 5 he Be we ligerent as ever, and there were ominous head- pug! PW nang vn coma wniok Lthink, Bye fou e 8 i R Res : . new, 80 a 8044; Virginia, ex coupon, 4334 a 45; do., :S shakings and muttered tications of im- Pee eee nreerioen | Bo etnern pace 4a oo A + 62, 100 es ered prognosticatio! ought to rt. It is the only At Southern superfine 625, Pacific Mail Advances About | registerea stock, ola, 37 a 42; do, sixes, congohidated | 2» f° 50 Pending ruin to its unlucky friends, But not one | on the ged, and, to-a grent nly, American line | futher aaer Tie $3 Fi P Cent. bonds, 5544 @ 56; do, sixes, deferred scrip, 144 a 1] ang syllable of direct accusation or tangible informa, | Of the near 1s ‘concerned in seeing it pros- | Sorn'wcal We: see le ive er e 15; Georgia sixes, 75.0 80; do. sevens, 85 a 90; North Py 4 = 2 tion could be forced from these croakers of ill- rekon 94 pate TARVER OF SEAL, 9 ee Proce. ous ee ee rite eae $3 Carolina, eX coupon, 3144 @ 32; do. to North Carolina | 39 x6 “400 omen, On the other hand, those who are interested | dent. But the Paciie Mail Company ts arich one, | Baltimore. cddegad 00f o: be allroad, 69 @ 61; do. funding, 1806, 220.27; don, is + BB BD doves, 4n the direction of the company wore a smile that | Hit Will mot be aliected by these things to any #e- | Punchoots OE a be The President Meets His Contracts--- funding, 1868, 22 a 26; do., new, 17 a 18;do., spectal 0 bu! 2 Mlinols Centrai ae was child-like and bland, and, according to their | snip that leaves the other side brings over twelve mop, was firm, but quiet @ sales were only about tax, 14 @ 16); Missouri sixes, 04; do. Hannibal | 2 ity yy Un Hac wit--b coe 30% | statements, the company could hardly bein a more | oF fourteen hundred people. ‘They have, besides, | gies mewerk Mise eat eae melee NO; 2 ChicaKo I store, The Treasur' Unimpaired. and St. Joseph, 9044 a 90%; Louisiana sixes, 50; | 200 67° 200 343 | prosperous condition an immense freight, aud money is pouring into its | ferlor Chicago on private terms. Uther descriptions vere e Lreasury ip i. Alubama fives, 57 61; South Carolina sixes, new, | 41% 2 673g 20 ue 6: coffers all the time. Then, 1tis how building several | held mominally ag betore. Cora was firmer, hat nol ry 5 + 8, ” ie ua . B Biya THE BOARDS OF DIRECTORS new steamers, which‘ will alone save one-half in seve, one sales since our last include about 37.000 busi. january and July, 2034 @ 21; do., new, April and | 30 Se aloe of thé two companies had a meeting at thelr rooms | the expenses of fuel,” = Pstore, oie. ayer cl mined ant SEIKC. 10, GC. Ne STARTLING RUMOR FROM WASHINGTON, |. coven sown ie TS: in Brown usrothers’ bauaing, at which ME Stok: | gyri mt Ue?” asked the reporter In some | asi i aw Were allow apd inane , ‘200 100 da. well, the President, and several well-known bro- “Why, these new boats are not built on the old ame ne atag hp i Mesh a ape phy he aca 200 109. Mil ane Pil. kers were present. Mr. Bellows, the Vice Presi- pian, ‘you know. amar, Age Propellerh. and con- y wi e early decline in gold, and the ry TO ast Se dent, remained in the outer office to be inter. | #tfucted on a plan which w: on. serene. See ‘Western afloat, 50e. bid tor old_‘mixed in st 1 e. store, sold at 11634. Currency sixes suffered a depression | 400 200 BH & viewed by the representatives of the press, Hi FR ee ee ee RRL ACGRIDSES: | Whe puarees Gulland tending downward, Barley 200 We Jou Atlan & #1 press. He | will be gradi lone away With, as being too ex- | and rye were hel i re Reported Adoption of a Resolution Sames | of 3,, to 114, trom the activity of money. ‘the fol- | 24 We an was calm and collected. Occasionally a sudden | pensive and not upto the times, But the mero Pustoure Herth creigits continued quiet, Dut ratos tioning the Issue of Forty-four lowing were the closing quotations:—United States | 30 arrival or an unexpected question made him a Ut- | 1#¢t Of building steamers at this rate alone shows | More sandy, | The chartering t was tair at tals ixes, 114 14%; do., 1881, registered, | 4 ’ that the company 1s alive and doing well. This | } fayements were:—To Liverpool, py steam, Million Greenbacks. currency sixes, 114 @ 114%; do., 1881, ered, | ain Ue Irascivie,’ but soft smile ,soon chased the | impression, then, that tae concern 18 in a bad Way, | don by walt So pois hoe eae Races at 408. To Lone: 116% & 116%; do, do., coupon, 118% a 11834; do. | 2 wrinkles about his closely-compressed lips, and he | ought to be destroyed.” fobieco on private terms and S00 boxes baton at Ger ae five-twenties, registered, May and November, 1155¢ | 700 seemed ‘a Wut it 1s said,” rejoined the reporter, ‘and Mr. | To Hamburg, 400 tons provisions, 458. To Gibraltar, 2.500 8% | 70 to feel somewhat better, He wore a some- | stock well himself says, that the louns made by the | cases refined petroleum on private terms. ‘Tie chet ae : & 116%; do. do., 1862, coupon, do., 115% a 115765 | Sp what benignant expression, too, when he stated, | Pacific Mail were on a margin of twenty per cent. incinde a British park hemes to 8 Continental porh ex A Farther Decline in Foreign Exchange | do. do., 1804, do. do., 115% 0 115%; do. do., 1805, do. | 30 in the most poltte manner possible, “We cannot | Now that the stock has gone down filty, is not the | Grins park eres toaace Rete eae os, Odi do., 11634 2.116% ; do, 1867, registered, January and | jo) CONTRADICT ALL THE RUMORS ON THE STREET, company the suiterer to a great extent 7” burg, 4,000 bbls. crude do., ats, 6d. or 6s. 734d. ; a Norwe- and the Reasons Thereof. : : 'wenty per cent 18 the regular margin, and you | giun bark hence toa Bultic pork, 2,40) boi cea Tuly, 114% @ 114% ; do. do., 1865, coupon, do., 114% | 200 they are so silly, and, of course, we have nothing | must remember that the company did’ not lend | feum, at 7s, Sd.1a Norweyian ark, to arrive, hone tem 114% ; dq. do., 1867, do. do,, 11634 a 116% ; @o. do., | 209 todo with them. I have Just been handed a slip | Money simply on its own stock, On the contrary, | Halt hori 240 bbls, relined do. on, privaté termma 5 GOLD FEVERISH, CLOSING AT 115. | 18% do do., 116% a 116445 do. ten-forties, regis- Wo showing that our stock is up four or five cents to- | "Me company has troleum at 7s, 6d. ° iad tpicu SH, * | tered, 1103¢ a 111; do. do., coupon, 111% 0.111%; | 4B LOANS OUT ALL OVER THE STREET. Gunixs.—Trade hasbeen fair since our last, but the q i rs » “4 +] ae day, though nearly, if not quite, every other stock | on all kinds of securities, all of which are andoubt- | transactions were principally in small lots 8 Were do. fives of 1881, registered, 113% a 113%; do. do, | joy on the market is down at least one per cent. The | edly poriecny, oe Fa tee have no idea that the reported dines our, last or ne fouls Somestic oe 7, company sui ' acl 01 etober, On. priv: ya ashe } coupon, 11334 a 11334. Fn Tumors from Washington are what caused the de- pram ertipregiontn ie a Peta i EE We quote Domestic cloth, 1c. a isigc, spor ‘and tiger On Change gies Soe ee in better demand, ‘The st eas wank rae ae ie noyant with | 300" cline. We are doing nothing of any consequence,” | tion of how plentifully they are provided with | fask: 1g¢, (te Summer months, Bast India cloth, i e stock market was active ant uoyant A ‘but the market was easy. Flour, wheat and corn ‘were slightly better, although quiet. THE EXPORTS OF THE WEEK. The total exports of domestic merchandise from the port of New York to foreign ports during the ‘week ending March 4, 1873, were ef the currency ‘Value of $5,252,908. THE FOREIGN MARKET. The London quotations were steady and firmer for consols and United States bonds, the latter selling at yesterday's asking prices. Erie opened witha dip of % per cent to 50%, but recovered during the forenoon, and clesed at an advance to 51%—equivalent to about 6444 in our currency. The new French loan was quoted at 686% per cént premium. French rentes in Paris advanced to 57.50, The indications from London point to & reduction of the Bank of England rate of discount on Thursday, MONEY STRINGENT. The money market continued stringent, under a renewal of operations on the part of the clique, and the rate on call, which opened at 1-16, ad- ‘vaneed to + and interest, The effort to keep up the “squeeze” was only partially successful, how- ever, as the rate receded again early in the after- noon and declined to 7 per cent coin by as early as half-past two o’clock. In the subsequent deal- ings before the close of banking hours a reaction to 1-16 ensued, and the closing dealings were at ‘1-32 and interest, Commercial paper was neglected and nominal, FURTHER FALL IN FOREIGN EXCHANGE. ‘The foreign exchange market was exceedingly weak, under the offering of bills drawn on London against the recent negotiation there of two millions of the bonds of the California and Oregon division of the Central Pacific Railroad, and the Jeading drawers of sterling dropped their rates a further quarter per cent to 108% and 10934 for sixty day and sight bilis respectively. The decline was attributed also to the stringency in money and the needs of the stock brokers, but the suspicion has lately gained ground that THE FOREIGN BANKERS have encouraged the belief that the bills recently Bold so freely were borrowed against pledges of stock collaterals, while the fact was that the high rate for money in the United States was attracting to this country large amounts of foreign capital, to transfer which as profitably as possible the impres- sion was allowed to prevail that the exchange was being made in the shape of loans to the stock brokers. It is not denied that a good deal of ex- _ change was drawn on this last account, bit the amount marketed the past month or two has been greatly more than could have been needed for the ‘wants of stock speculation. With MONEY IN LONDON worth only 2a 24% per cent and 10a 20 per cent in this market on ample security, it is easy to under- stand why capital should cross the ocean. The unnatural or rather unseasonable drain of money to the West which we experienced during January and February concealea the presence of this for- eign capital’ among us until recently or since the drain to the West has ceased, Hence the prevalent weakness in and lower rates for sterling exchange. To-day sales were made of prime sixty-day bills atas low as 108, and more were to be had at the same figure. The jollowing shows the range of the revised quo- tations :—Sterling, sixty days, commercial, 10744 & 107%; do., good to prime bankers’, 1077¢ a 10334 5 do., short sight, 108% 21094; Paris, sixty days, 5.3114 & 5.2634 ; do., Short sight, 5.21% a 5.2144; Prus- sian thalers, 71 a 7134; Antwerp, 5.30 a 5,25; Swit- verland, 5.30 @ 6,25; Hamburg, 943 @ 95',; Amster- dam, 39% @ 4034; Frankfort, 40}; a 40%; Bremen, 9435 @ 954. GOLD UNSETTLED—I14X% 4 115}. ‘The gold market opened weak and déclined to 114%, in sympathy with the downward tendency of the foreign exchanges, but was rallied by the Clique to 11534 late in the day, in pursuance of the policy of forcing the “shorts” to cover by advane- ing the quotation in a thin market, their opera- tions being helped by a rumor trom Washington that the House of Representatives, before udjourn- ing, had authorized a resolution sanctioning the reissue by the Treasury of any part of the $44,000,000 of legal-tender reserve. The course of the market is shown in the table :— + 15 .. 1M 1435 eves 114K P.M 6 sees 14% 4 PLM. + 116 a 11d In the gold loan market the rates ranged from 7 per cent for carrying to 1-64 for borrowing. The operations of the Gold Exchange Bank were as {ol- Jows :— Gold cleared... Gold balances. Currency balances. The Sub-Treasury paid out $77,000 on account of interest and $4,700 on account of redeemed five- twenties, THE RAILROAD RONDS, In the railroad bonds Union Pacific incomes were | firm, the incomes about steady, but still nominal, and the firsts actively weak, with a decline to 861. Morris and Essex seconds sold at 97, and Great Western seconds were active, with an advance to 89. Hoston, Hartiord and Erie were firmer, but no Bales were recorded, The following were the bids at the call a# amended by prices in subsequent dealings :— Dew York Cen #188, Chic &N W con bdg. ng we” Chic & n bd! “y Li Rew York Con t's, sul #, 4th anh, °90., Erie 7°s, 6th m, n i rie 7's,con m gid bds Bos ee ee iets. n Gt West 2a Alb & s Aw & W & Chie ist eB WAC W & Chie tid &U dpe eqtbd.x vy VA BID ae OY, o 506 ery Sui Sus td bis. general and considerable advance in prices, Early in the forenoon the “bears” gave ita final shake, directing their efforts against the indtfensive C., O. and I. ©., the better to cloak their operations else- |. Where, and they knocked the price of that fancy to 36 and sent the others back to about the lowest prices of the “break”? on Monday. At the decline they quickly scrambled into their “bull” boat amid acry of “all aboard for the Spring rise,” and were joined by hundreds of heavy buyers, the market becoming excitedly strong and’ advancing rapidly during THE REST OF THE INTERVAL up to the close of banking hours, when the pro- tracted stringency in money and numerous reali- zations to secure the profits of the day’s rise caused & reaction of more or less extent, but with- out impeaching the general firmness of the market. ‘The advance was led by Pacific Mail, which jumped to 56% on the intelligence that the investigation of the company’s affairs had not only not revealed any 1088 of money by the speculations of the Presi- dent, but had shown all the loans to be amply se- cured by Yarge margins, a8 much in many cases as 50 per cent. It was also denied that the President had made any assignment. On the contrary, Mr. Stockwell appears to have ~ MEP ALL HIS ENGAGEMENTS, as he said he was prepared to do, and no broker has ag yet had cause to complain.of any default in the keeping of his engagements. The relations of Mr. Stockwell and of Mr. Jay Gould are further- more represented to be those of strong friendship and active alliance. We refer the reader again to our special reports in an adjoining column of the Pacific Mail agitation and excitement and particularly to the interview with the latter of these gentlemen, the revelations of which will throw a good deal of light on a matter heretolore : GREATLY MISUNDERSTOOD in the street. The rumer that the House of Rep- resentatiyes had authorized the Treasury Depart- ment to issue, if necessary or expedient, any part or all of the $44,000,000 of legal tenders claimed to “be the complement of the amount fixed as the circulation of the legal tender or Treasury issues of paper money was not generally credited, al- though the resolution to that etfect may possibly have been adopted in the hurry of the closing hours of Congress without attracting attention, If soit was probably inserted in the Appropria- tions bill, and was sprung upon the House and rushed through by the majority of Western infla- tionists and paper money men, HIGHEST AND LOWEST PRICES, ‘The following table shows the highest and lowest prices of the principal stocks during the day :— Highest, Lowest, New York Central Erie... Lake shore Wabash... Northwestern....... Northwestern preferre Rock Isiand. St. Paul... bt. Paul preheat tern Union Telegraph Pacitic Mail In Philadelphia at 11534. SALES AT THE NEW YORK STOOK EXCHANGE Tuesday, March 4—10 A. M—Before,Call. 800 shs West Un Tel... de. ‘85! 300 ie do. 20 do. 400 do 300 do Sudo. 1W0 de. wi do 20 do S00 do. iw do. 00 0. 300 do. tw do. to. do a do. eects #0 * do! vv Harlem RR... “ do. 4 ww di 500 B00 0 10. luv Erie KR. 800 a SE°S : 200 do | 100L8 48 Ki 40 S' TSW) dO... 2uuu Tenn 0's, old. 200) do ‘60W0 Missouri do. H&std i DI, Po. v0 108 10000 La 2000 Alb 2 sw Un Fac ly | 13900 do 3.0 do du Un Pac 7s, we ge a Brrersrarscnrs LZ YM + 16: ss \ T, 96 ry "0 thw 1000 US 5-20, 2000 US b's, 1000 do. 100 Mar Min pi. LW NY C&R RE, 200 do. ‘on. ong n,AKO.. 2 5000 Missouri's... 4 5000 Mo O's H&St Jois 4000 West Pac bds.... 94 2000 Gt West 2d mii!) 88 100 do..>. 5000 Gt West 5 2000 8tL & TM Ist 5shs Am Ex Bank... 100 New Cen Coal..be 4444 jwoCum 14 Iron... 91 i 300 Lid & Mp..be 1634 100 Quic 0.664 DO 200 Md Coal Co. 200 Cleve & 40 do. 1100 West Un Tel 1400 $7000 Un Pac Ist m... 86% 19 shs St Nicholas BK 110 100 Con Coat b2 52k BLESS | FESIAAAASAAE EET & par, Eese BERBEECE ee re ere va BaSee Px SEESSSSESESELESEE e $35000 US 5-20, e, '67. 11500 ace 300 shs Pac M SS. BP do. Ses luo 100. 100 100 SEeuEegee 1M &stP 5 Pitts, PUM 1001, W & W. S00 oo rt IW StL, KOEN pei &R be % WM & st P RRbe pf... De &Cgtd. 22115 and 4:15 P. M, +. 16 be Hk 1163 +e Tt 330 P. M.—Before Call. ‘ie he added thoughtiully, “only our regular—a spe- clal—meeting. No, nothing of any consequence.” Mr. Stockwell was the next man to leave the directors’ room. In reply toa request for certain information he said “he had no time for conversa- tion," and the poor man did seem greatly anxious to get out into the open air, He was buttonholed by a gentleman on the corner of Wall and Broad streets and immediately disappeared, INTERVIEW. WITH A. C, KINGSLAND. A. C. Kingsland is a director of the Pacific Mail. He politely, but firmly, refused to part with any information in his possession in regard to the com- pany. ‘I'he rumors from Washington did not, how- ever,” he was at liberty to state, ‘have anything to do with the fali in their stock. ‘the meeting was merely for the transaction of routine business, and nothing of a nature that would interest the public transpired.” INTERVIEW WITH THE TREASURER. The Treasurer, too, was very affable, but could tell nothing of what occurred at the meeting. The rumors on the street, however, he pronounced grossly exaggerated. The company had plenty of Dusiness to do, in Jact, it had so much business that i was forced to purchase four additional steamers (the Webb line), and there was plenty of money in the coffers or the purchase could not have been made. The subsidy business Mr, Clews affirmed had been satisfactorily “uxed” in Washington. The deductions to be drawn from the various in- terviews May be summed up as follows :— JUST A LITTLE MIXED, Mr. Vice President Bellows—The rumors from Washington in regard to the subsidy caused the decline in the value of our stock, Mr. Kingsland, a director—The rumors from Washington in regard to the subsidy had no con- nection with the decline in the value of our stock, ‘The Treasurer—The rumors from Washington in regard to the subsidy are grossly exaggerated, as the thing is all arranged satistuctorily. PSSST RG FE segetseesesa. ge oy mac an iS RESES Ne ous 2130 to 4 P. M. 200 shs Pac MSS 20 di ssrue 32 ezese eee done. 100 Harlem ‘iit, 10 Panawa RR 10 & NW RE W pf 200.C & St PRK! a do. 100 Mil & Xt 25 BO sess 59 400 Del, L&W RE, 200 Ohio & Miss, Por wo, io, Wa Wit SC, C& LU RR, 600 r ~™ do, 5 iW Atlan & Pac 4 100 Han & StJo RR WH € St Jo. pf. » 56% segs nad Eta ZRSSERISESTSSS: 3) y Which leaves the matter as clear a3 mud. WHAT JAY GOULD SAYS, An Interesting Interview with the Great Innocent of the Street—He Sticks by Stockwell, but “Really Knows Nothing of What Is Going On”—His Opinion of Pacific Mail=Mr. Gould’s Occupa- tio: in His Retirement—What He Knows of the Recent Panic=The Rumers of an Assignmeut Denied and the President of Pacific Mail Not “Broke”=—Mr. Gould Wants No “Exccu> tive” Position. ‘The rumors as to Mr. Stockwell’s affairs were as rife on the street yesterday as on the day before. Indeed, they had obtained additional force from the fact that they remained uncontradicted. Some of the rumors, of course, had come to the state of incontrovertible facts, Others, however, closely in- teresting the parties concerned in Pacific Mail, few about promiscuously, and, while they did not ob- tain such universal credence as those of the day before, because they were still more serious, were generally believed by those who are usually the best authority in Wall street. One of the rumors—and the most startling—was that the gentieman who was at the bottom of all this trouble in Pacific Mail was the man who until the past day or two was supposed to be the last to have had any connection with it—Mr. Jay Gould, It had come to the state of a proverb that whenever there is trouble in the outside world there 1s always found to bea woman at the bottom of it. In Wall street, WHENEVER THERE IS TROUBLE, in some mysterious way Mr. Jay Gould is supposed to be at the bottom of it; so that now people who are playing any little games upon other people are almost half scared that any moment the great op erator will pop up, like a Jack mm the box, surprise everybody and quietly rake, in the stakes, Here, m this case of Pacific Mail, it was said and sworn to that Mir. Stockwell, having failed, had made over an assignment of all he had to Mr. Gould as being his largest creditor, and tothe exclusion of all other creditors, including the Pacific Mail Company itself, to which he was said to be indebted very heavily. Tn this connection it was added that some months ago, when Pacific Matl was almost at par, Mr. Stockwell had borrowed a large amount ef money from the company at ninety-five and twenty per cent margin, but that since the stock had gone down to fifty or thereabouts Mr. Stockwell was really indebted to the company twenty or thirty per cent on all he had borrowed. ANOTHER RUMOR ‘was that Mr. Stockwell was so badly “struck” that he had even allowed some notes of the Howe Sew- ing Machine Company, of which he is President, to go to protést on Saturday. With the intention of finding out how true all these rumors might be @ reporter of the Heratp called upon Mr. Jay Gould, at his residence in Fifth avenue. Several coupés were before the door, and it appeared that Mr. Gould was in consultation with some of the magnates of the street on some private business, which of course it was none of the reporter's business to inquire into. Mr. Gould came forward very cordially, and, if one might judge from his expression, appeared to could want with any statement from him, MR, GOULD SPEAKS, The reporter explained to Mr. Gould the object of his visit briefly and then asked him:— “Are these rumors trne that Mr. Stockwell has made an assignment to you of property on account of your being his largest creditor? “LT have heard these ramors,” said Mr. Gould. ‘They are untrue. Mr. Stockwell has made no as- signment to me whatever, Instead of being against Mr. Stockwell | am for him, and shall stana by him in his diMiculty. 1 admire his pluck. £ think he has stood up im this matter in a manty, jucky Way. Besides, Mr. Stockwell Is all right. he rumors of his being ‘broke’ are jaise. He can meet all his engagements, and T should be the last to go against him. Ail the rumors about bis finan- ctal condition and his position in the street are more or less exaggeratea,” “Yet he is a loser, is he not ?? questioned the re- orter, i “Undoubtedly be has lost heavily, but he has not failed,” answered Mr, Gould. “Do you think his losses are as heavy as has been Said—$4,000,000 is the sum 2"? “That Lconld not say,” rejoined Mr. Gonld, “but I should not think they were so heavy as that. ‘That MR. STOCKWELL HAS OPRRATED HEAVILY Bud Lae loyt wpe secret, J _pregume; but he wil di be rather astonished at what on earth a reporter | money. This is another matter which has been tortured into something which was agaist Mr. Stockwell, whereas the whole transaction is per- fectly regular, and cannot alfect him one way or the other.” “but with all this, Mr, Gould, what is the cause of the stock going down in the manner it has. You, 1 presume, can give a lucid explanation of what ap- pears to be a mystery.” here is nothing in this but what is perfectly natural,” went on Mr. Gould, ‘There are holders of this stock all over the country—people who in- vested in it not for speculative purposes, but for a steady investment. When several outside causes brought the stock down gradually twenty per cent THESE PEOPLE GREW FRIGHTENED and sent their stock to market, and of course its coming in this Way with such a rush, they being all sellers and no buyers, why very naturaily down it ope suddenly; and thus the panic happens. there i8 no more mysterious reason for it than this. When people are all sellers and no buyers a stock goes down to a@ fictitious lowness which is not its proper price. But you may take my word for it that within twetve months, and perhany Jess, the stock of the Pacific Mail Company will have gone up to par again, because the stock is realy worth par and there is no proper cause for its being beiow. This willbe a matter of time, of course, The nee impression of the panic it will take some time to overcome; but time will do it, most surely.” “You thén, personally, Mr, Gould, have had noth- ing todo with tnis panic and are not responsible, as all the rumors make you’ asked the reporter. “Oh! dear no, I have not been down on the street for two months. Here I remain in the house and devote myself to LOOKING OVER MY LIBRARY. e Ihave grown semewhat rusty on reading durin; the past few years, jor Ihave been so busy, but am making up for lost time. 1 absolutely do noth- ing but while away the days in this way. | am tired ol excitement and speculation and take no interest in outside inatters, except just reading the papers, and now and then receiving the visits 01 a few friends, who post me as to what is going on. Peo- ple will always have me at the bottom ol all that is going on, but the fact is, 1 don’t move out of the house. Here lam to be found irom morning till night and from night till morning.” “You are, then, entirely out of Wall street?’ asked the reporter, with some little astonishment. “Yes,” answered Mr. Gould, “entirely. As I have said, I take sufficient interest in worldly affairs to fee! an interest ina man like Mr. Stockwell, who shows the pluck he does, and [ would do all I could to help him out oi a difiiculty,”’ At this moment the dinner bell rang, and Mr. Jay Gould, bidding goodby to the reporter, went down to the dining room with the haste of aman who en- joys a good appetite and an excellent digestion, COMMERCIAL REPORT. Cotton in Better Demand, but the Mar- ket Weak; Receipts at the Ports, 17,188 Baics—Flour Steady—Wheat and Corn Firmer but Quict—Oats Easy—Provi- sions Firm—Groceries Quiet—Metals Quict—Petroleum Easy—Naval Stores Nominally Lower—Wool Quiect—Whis- key Higher. TuEsDayY, March 4—6 P. M, The trade movement Was considerably freer to- day, and a better feeling obtained in commercial circles generally. Business was moderate, though there was considerable more doing in most of the leading articles of merchandise while in some departments fhe sales were heavier than for some time past. But the improvement was manifest in the tone of the market rather than | in an increase of business, there being decidedly more buoyancy than for some weeks, quiet, but the market was steadier. At the Produce Exchange business was brisker, while there was a better feeling in the market for nearly everything. Flour was in better request and steadier, Wheat was decidedly firmer, though the enhanced prices demanded tended to check the inquiry, and business was light and con- fined td the local milling interest. Corn was strong, and better prices were paid, but the demand w: light at the advance. Oats were quiet and steady, Whiskey was decidedly firmer, with limited re- ceipts, and a further advance was easily estab- lished, There was continued firmness in the pro- visions trade, though prices experienced few changes. Groceries remained quiet, bat unchanged in price, Petroleum was also quiet, but about steady. Naval stores were dull and nominally lower. Wool re- mained quiet, but the market exhibited more tone. Asuxs.—Receipts for the past three days 138 packages. Under more liberal receipts and only a moderate de- mand the market ruled easier, ‘Potsquoted at $8. Pearls nominal. Buripine Marertats.—The demand for brick has been Hmited, but prices were not essentially changed trom those last quoted. Lime was in moderate demand and steady at $150 for Rockland common and $175 tor do. jump. Cement was quiet and unchanged. Rosendale quoted at $2.10. Laths were but moderately sought aiter, yet steady, at $2 30 a $240 for Eastern spruce, Canbixs.—The’ market was quiet, but prices steady. We quote —Sperm, Wc, a Sic.; patent do., We. a 426. ; B0c. a Sic. ; stearic, ¥8c. a Z¥e.; Adamantine, Qe. # Zhe. Cotrox.—The market for spot cotton was rather more active, owing to more liberal operations on the part of exporters. The tendency of prices was iowards a lower base for ail grades, though the subjoined quovations only show a decline of ‘yc. per lb. on ordinary, For ruture delivery the market Was weak but fairly active. We sum up thus:— Last Bre’ Total. 16 16 Cotton was very (basis Sales laste ft x Fe. 5 Juine, 400 at” dic.4 July, “Soo at Ce atige. ‘Total. “17.800 bales: gra 2 5,000 halen ‘The receigs at the ows: Gulveston, 2,057 bales; New 01 Mid; Savannah, 182; Ohgrlesto ton, 102; Nortol New York, 42; Boston, Total, 17,188 bal day last Year, 5 eign ports closed ‘as follows @ Lisc.; stil, Ie, comp! ‘#, bY , COMPresser oO firemen, by steam, Lge. ; sail, Le, ; 16 Liverpool, by steam, 5 Ve quote — me owes Uplande, Alabama. New Orleans, Texas. Ordinary vile, 7 V Good ord 133, Is 9 104 We Dig ay 2 aay 23 23) are @used on cotton in a store, running in quality not more than half a grade above or below the grade quoted. Corree.—The market continued quiet but firm, We have gniy, to note sales of §.615 bags, of Itio, ex Catherina, at n private terms. We Rio—Ordinary Mobil parBOCs 17%4c. a ITC. ; air 8, 1Y'4c. a 1h 1, Singapore, Age Ar a HEMP AND JuTe.—The market remained quiet, but steady for alldescriptions of hemp, Manits Suse Hy We. fold, Jute was also quiet, but unchanged in price. Quoted at de. a Se., gold. Jule butts were moderate) in- plea *, and steady at 23¢¢., Currency, cash, and 2¢., o., OO day Hay aNb Straw.—The receipts have been quite liberal, and undera good demand; the market ruled firm. We quote Shipping hay, $1'15, trom store ; retail qualities, 1 3 a $170; clover, 3c. a $1; salt hay, Ble. a 85c. Long 2a $185.; short do., $14 $105; oat, 9c, & ; wheat, 75¢. MoLasses.—Trade was but moderate, yet the market waa steady. Sales 50 bbls. of New Orleans at 70c. a 7¢., and . at auction 110 bbia. at 45c. a 70c., and 40 hhds. Porto Rico at trom 45c. a Sc, We quote — Cuba, centrifu Cuba, elayed. Cuba, muscovado, Cuba, muscovado, grocery We. 800. s =. bbe. a 750. for copper continued moderate, mated at 15),000 Ibs. of lake at a 85c., including 50,000 for Aprile at the higher price, ‘Tin—Sales 1,000 boxes charcoal tin on private terms, an 500 boxes coke tin at $10.5, goid. Spelter—Sales 50 tons of Silesian at 7ie., gold. Ledd—Sales 0 (ons ot Spanish at c., gold. AVAL StORES.—The market for spirits of turpentine continued dulland entirely nominal. ‘The receipts were fair, but the offerings moderate; quoted at 66';c. a 67¢., most sellers asking the iigher price and buyers bidding under the lower price. Kosin was also dull and weak, strained closing at about $3 60 a $3 65. No sales were ree ported on 'Change. ‘Tar and pitch were not sought after, and nominal in the absence of sales. O148.—Lingeed has been in tair demand from the home trade, but other oils were quiet, yet fuil tormer prices Were current. We quote :—Li Me. ks and 98c. in bbls. ; crude sperm, $i 50 a $155; natural Winter, $1 70; bleached, $1 73 a $175; crude whale, 70c. tor Horthern, 6c. @ 65c. for southern, 72c. a 75¢, for natural Winter and 75c. a Sic. for bleached. Lard, dsc. a 70c. tor prime Winter and 6c. for No.1 menhaden, Wc. 62c. for selected light and 9c. for choice brown. ‘Crude cotton seed, 433¢c. a 45c,;neats.oot luurieuting, $1 10.8 $2 40, Perkoweum.—The market ior refined continued quiet, but unchanged; quoted at 1c. ior prompt delivery oF balance ot-month, Sales were made late last evening of 2,000 bbis., for prompt delivery, at 1Wc., and 5,000 do., for first half ot April, at 194c. To-day we learn of sales 3,000 bbis., for June, at 19%. Crude in bulk continue: neglected, but was’ nominaliy steady at 83c. a Bic. Cases quoted at 2éc. a 26! \d naphtha at le. & 26}¢C., for Western orcity. At the creek the market was dull and nominal at about previous ficures. The Philadel. phia market was nominally unchanged; refined quoted at 18c. for this month and 15%. for next. Provisions. —Recelpts—Pork, 8 DDIK.; cnt, meats, 9,996 packages; lard, 1,470 bbls. and terces and 50) keys. For ness pork the inarket continued quiet but, firm. | We heard of sales of 250 bbls, for April and 250 bbis. for May, both at $15 30; 50 bbis. of Western prime mess at $14 and 25 bbls. of extra eae at$12. Bacon was quiet but firm; at Jong clear quote @ 7%c., short do, at Sc. a 8igc., with sales of 250 boxes at the Inside Li were dull but unchanged. Sales at and 6c. a 7c. tor Western, Beet—Th quiet, but prices were the same as those previously woted. | The rales, in a Jobbing way, were about 39 pack- hes within the range of $9 a $11 8) for plain men, $14 for extra mess, bols., $21.a $22 for prime mess, tlerces, 26 for India d9. Beethams were quiet butsteady, Cut and $23.a$: within the range of $294 $82 ior Texas or Wester meats—The demand was only moderate, but the firm. We heard of sales of 100 smoked shot Sc. and 5,000 ibs. of pickled bellies at 9c., and He. a ize. ‘he market tor Wester \d decidedly firmer. The sales steam at 8i¢c,, 1,500 tierces di terces do. for April at 8 U-l6c., 2 8%c. City lard was dull; sales 100 tierces at Sic. for steam and kettle and 8c. for No. 1. Last evening 1,500 tierces sold tor March at 83¢c., and 1,600 tierces for May at 8%¢., market closing dull at the above prices, ick.—The demand continued lerately tair, and the arket steady. Sales 40 tierces of Carolina at'Se, & 9, nd 200 bags of Rangoon at 63c. a 7c. ‘Svcar.—The demand for raw continued only moderate, and the market was barely steady. Sales were made. late last evening, of 003 hhds. of Cuba at 8 3-16e., and 116 boxes of centrifugal at 9%c.; to-day, 242 ihds. of Porto Rico at 4S nhds. of Denisiara on_ private art xes :—buba—Refining, fair to good 8%. 5 Cn do, hams terms, 385 lds. of miuscovada ats 3-16e. of centriiugal at 7c. inferior to fair, We quote 8 common, Tic. a 83¢c B8ige. a Bisc.; good to prime, Sc. a fair to Kood, 9c. a 9¥c.; prime to choice, entrifugal, hhds. and boxes, 9c. a #ec.; do., 13 to ge. 0., 19 to 20, Lge. a 113g¢. ; white, 1co-Refimnhg, commen to prime, Cc. c.; grocery, fair to choise, 9. & Wee. Brazil— utch standard, Nos 5 to 12, 7ige. to84e. Java—Dutch standard, Nos. 10 to 12, 8%c.a gc, Mantla—Superior and extra superior, Sc. 2's Sreps.—Linseed continued very firnf, but the demand .. Suleg have been made since our of 3,! 8 tore at $2 v7, old, O) Clover conunued in tair request and steady. Th for the ast three days foot up about 1,00) bags. at 8%(c. @ 8%. 1OF Inir'to good, and ve, tor rims. Rough flax. wax auiey but firmly held at $225 a $2 30. Timothy was neglectes ‘and nominal at $375 a $425 per bushel. ‘Toracco.—The market has been very quiet since our last tor all descriptions, but prices were not essentially changes ve ly to note sales of 2h) cases Con- necticut, crop 1871, at 5c. a 65c.; 100 hhds. Kentucky at 83gc. a He., and 200 bales Havana at 9c. a $1 10. faLLow was firm and in betier demand, Sales 100 hhds. Western and city at 9c. and 100 bbls at 8 15-16. ST kal she market was firm at $4gc, for nhds. Sales were reported of 100,00) Ibs. seliers Marcli, and 100,000 Ibs. sellers April, both on private terms. Waiskky.—Receipts, 370 Lbis. -The market was quiet in consequence of the advanced ideas of holders; ps were le. per gallon better, with sales of 100 bbls. at 92c. Woo..—There has been rather more yt a manufacturers during the pst three days, and the mar- eet exhibited a little firmer tone. The tog however, have been light, Life waiting (ntil Atte, oe ee dee sales, which are to take place to-mot aay: atter, ‘The transactions ra Forted were :-29,00 Ibs. of X t 620. 5 Ohio fleec r¢. 10,000 do. super pulled, d¥c. ; 30,000 do. 1 1244 24 va Cape, 36c. & B8c. :'20 do. fair -Gaincene 1h Oe it) ONO Montevideo, i5c.; 20 do. . & 23.5 30 Banda Oriental, 38c. ; 60 do. Port Philip, Sac. rainary Thee hd ttled ; good ordinar: ee coiptte 2467 bales sales, 1,100. Bt ik, 79,1 Monite, March 4, 1878. A moderate; middlings, 19:46. ; low montinns Tice: good ordinary, 17740, | Net Tecelpts, bales” Exports coastwise, ol7, ‘Sales, 00. Stock, ng NEY Quimane, March 4.187% atron; the best grades; low middlings, wee ene he. 194c. Net receipts, 4,619 bales; ross, 8,00, Exports to Great Britain, 1,64% Sales, 12005, st evening, 7, Stock, 201,868 rings, 199A ANAE, March & 1578 fem; middlings, 19%e.; low. middilngs, 180. 5 gga, ise. Net receipts, 1,832 bales. ‘293° tock, . sn en hind ETE SS ND, ul ii re demand ; m! ny ic. Net rece! i 05 ticlea” Exporis coustwise, Bf Bales, 1,000. Stocks 104, ‘ s Lovtstiiim, March 4, 1873. 328 hhds. Y., March 4, 1873, 5 bbt 4 E10 30 or white Tobacco more active. Winter, $1ifor double, ext and firm. J r double «&: re Careull: sales of 2 cary’ at Odo a Ole. Barley une juinte, changed; Bay Qi and $1 28 fos, unbolte hort 2h pst Toad treighis—lour t) Philadelphia, 60.5 $110, Corn meal, $19) (or r ewt Milifeed unchanged; mudalings, $23 per ton. Hail: Boston, 726. ¢ Tou wo New York, 62c. ; to Albany, bic. Burrato, March 41873. ‘ $8; amber, Pe s heat duil Milwaukee No. 2 Spring, in small lots at $160 3 Chicago No.2 Spring at $150, Dulath No. spring, $1 085 white Canada, $1 75a $1 9%; white Michigan, $1 9 a $205, Corn quiet; sales 4,000 bushels Western on track at dle, 5 a omaltiotot No.2 in store at S2e. Onts firm; sales of 600 bushels white barley oats, on track. w arrive, % estern held at42c. Rye vominal at 8c, Bari ¥ at Ye. a $1 for We. aY5e. tor No. 2 Wi 4 Sie. for two-rower fe, We, tor four-rowed State a ‘tate, . Harley mait—Sales of Western at $L a $110; prime Winter Western, $1 10-4 $1 15; prime Canada, $1 2) a $1 2, Rye malthield at 90 ler Aprit; 0-5 $uige.” Corn quiet and weak ; a’ sh ; Z mixed at Sige.» cash Re. selier, April; Sie. seller May; rejected. 27440. Onts duil and drooping ; sales of Now 2atd64e., cash; Tejected, Bic, Kye steady at (Se, tort Yo. 2 Barley dull and drooping at 71'¢c. a 73\<c, Lge. tor No. & Provisions—A euiand : prices higher. Pork sold at at $11 06s i jor May. Lard steady at $78), jareh; $8, seller April, Bulkimeats steady’ shoulders ab o¢., packed) afc. tor souatry, Ivo: