The New York Herald Newspaper, March 24, 1873, Page 4

4 Defore this was done. At two o'clock {¢ was an- nounced that the Republic was constitutea, and im the manner here named. Figueras, the new Pres- ‘dent, arose and briefly accepted the oMce. The new Ministers passed to their bench amid @ scene of renewed cheering, and the Cortes adjourned, after having been in session forty-eighthours, The verowd had not perceptibly diminished when the Smempers passed out on the Calle San Geronimo, and as one alter another who had been prominent In the rep wblican movement came into the epen air loud cheers arose, which were repeated again and again, Madrid had little rest that night, and the morning arose upon an excited, agitated, expect- aut capital. AMADEUS TAKES FLIGHT. ‘The night of labor in the Cortes had been a night efanxiety in the palace. Thecommittee from the Cortes called and read the eloquent address of Castelar, The King listened and said nothing, and quietly bade adieu to the committee. He was known to be much pleased with the address, His queen was just over the perils of maternity—his babe being only a few days’ old, It was a long journey to the frontier, and she was still delicate in heaith, So it was resoived she should remain at the Italian Legation until completely restored, The King could not go North, as the Carlists had cut the railroad, nor to Barcelona, as it was dis- turbed, So he would go to Portugal, where his sister reigned, But he would be in no hurry, He wonld leave ‘ihe palace for the Italian ‘Legation and await his wile’s recovery. But the Queen was in “a nervous mood, Her mind answered the body's condition. She had been unhappy in Spain. Carlota of Mexico aud Marie Antoinette and other depressing memo- ries were cver present, and they came vividly with every answer from the Cortcs and the uneasy feel- ring in the city. She would goatonce. The King consented, A special train was arranged to start beiore dawn. The morning came and the Queen was carried on a stretcher to the carriage and thence to the car, There was little ceremony in this @eparture. But ‘ew of the members of the Cortes were present—none of the Ministers. The hour was Bo early, and they had been in session until two tn ithe morning. The guard presented arms, the band played the royal hymn, and in the darkness, as yet unbroken by the early dawn, the Kiag drove rapidly to the station. A few of bis Court were there, some military attachés, and a number of citizens who had been patronized by the Court. The farewells were brief and the train ‘hurried away. In the shadaws ceuld be seen the Church of St. Atocha, looking cold and mournful in the Winter morning air. In its vaults lay Prim, who died to make a king out of this prince who #vas now fying from the capital of Spain. Prim in his grave, Amadeus a fugitive, bis Queen fecing at the risk of her own ie and that of her new-born child—this is all that came of the mounting ambition that found a crown at its bidding. When the sun arose and it was known the King had le(t—that he had really fed, and under such peculiar circum- Btances—the high Castilian pride of Madrid was wounded. “Why was he in such a hurry,’ was said, “and the baby only two weeks old’ It must live, and no one would have harmed a hair of his head.” But, when even as brave a prince as Amadeus had a wile brooding over Marie An- ‘toinette and Carlota of Mex can we wonder that he would be anxions to leave the capital of a Spanish republic as speedily as possible? KUROPE FROWNS ON THE NEW REPUBLIC. So the new Republic was born amid the happiest auspices, No disturbance, no trouble, not the first sign of a barricade, Peace in every province, every form of law observed. This was no gathering of “gentlemen from the pavement,’ as Bismarck called Gambetta and his 4th of September arrangement. Not by any means. There had not been a shadow of illegaiity, The King left the throne of his own accord. Noone had foreed him—especially no re- publican. His radical Ministry had been supported by the republicans. All the great powers of the State had united to proclaim the Republic. Surely never nation came into being with sunnier skies, And the leaders were happy. What would the world say’ That was the question. In an instant news same that the United States would give it the hand of peace and recognition, This was done, in man- ner and form as have been written “to you. Honors only shown to kings were paid to the American Minister when he executed the orders of the President, and when Castelar an- nounced next day that the Great Republic, discov- ered by Columbus and founded by Washington, had recognized Spain and invoked the blessings of the God of Columbus and Washington upon the friend- ship of the two countries the Cortes arose and gave sheer upon cheer of satisfaction. But no word came from other countri: It was soon felt that the nations of Europe were not iriendly to the new commonwealth. The London papers received it in a@ wild way, the Tiynes even saying, when it heard that such men as Castelar were in power, that of course this was @ pavement gathering and weuld only last until a battery of artillery could be brought up. Then came stories about Claseret and the Communists hurrying nere— gravely printed and discussed in respectable London journals. The legations were unhappy and critical. Severe fault was found with the eq Minister. He had meddied too much in local politics. His interference in the crisis was andigaitied and undiplomatic. Trano came to power he would be “put into a it class car and sent over the irontier. The American recognition ‘was & most unscemly event. What business had she American Minister to keep open house and in- struct the new republicans in their duties? it was ppposed to all American traditions. Did not ‘ashington say no “interference in foreign aflairs’’ Bnd no “entangling alliancest” And here wasa Minister who was in every republican caucus, who was an active Pe , before the King’s $hrone was cold he was found hurrying down to recognize the new government by telegraph By telegraph! Wasever a@ more unseemly trans- action known in diplomatic history? More than all, the British fleet came into Lisbon. Its busi- ess was to see that the Peninsula was gales; that British interests were protected. aludrid grew fervous, aud in an bour it was known that the American Minister had sent for the American to come to Barcelona. The republicans rejo! but the diplomatists found cause for offence in t! Here was more interference. This Yankee Minister pot only had republiean caucuses at his howse, and not only recognized the Republic by telegraph, but bere he was bringing a feet to give it moral strengt! If only one good outbreak would take NEW YORK HERALD, MONDAY, parties were larger, a8 all the liberals made @ puint of a ‘rhe journals one charge him with buying pai $50,000, to anctaer s much larger 31 My ete oe to-day and bribes to-morrow. He bullies ve a republic; he bribes to buy Cuba to force oma cipation. “We have nothi against the American Minister personally, ia an eminont man the other day; “but if the Kin his councils we 4 have ordet country,” To crown all, an explanation is freely giveu to credulous minds that the Americans mean to kelp in the accession of Portugal; that Sickles, having @ Spanish lady for a wife, ‘woula assume: 8 anish citizenship and become a candidate for the Presidency of the Iberian Republic. ‘A THRRATENING CLOUD. These were minor freubies, however, grave as they were. A more serious diMculty menaced the new commonwealth. The republieans in the hour of their triumph magnanimonusly offered the Presi- dency of the Cortes to Martos and retained four monarchists in the Cabinet. The Secretary of the Treasury and of War were monarchists. It Was found there was no harm in the union. The nation was the re- those who had la- publicans. especially ; red and hoped and waited and prayed; who had known stripes, and paws and. ox je, amd imprison- ment and cen ho had been. the Spentien ofthe f faith *vien there wate no aieciples, and inbereld in piace’ 80 at these Ministers could cry ‘Com- | mone nd terrify calm minds with the spectre of @ red democracy, then their course would be easy. see Bo kept profoundiy at peace; ana ‘hich welcomed Louis Philippe when he came over the toa barricades, and which has- ened te recognize Napoleon when he came red- from the massacres of the coup d’¢tat, has toed silent, salen and unjriendly before this Re- ublic, whose er, a8 | have said, is “unstained yy @ single crime, unspotted with a single drep of human bioed.” CASTELAR’S QUESTION. t do these kings want ?”’ said Castelar, the ones jay, discussing this coldness of the menarch- teal representatives towards the new Kepublic. “What do they want? er, have? What else remains What more fons to be at other forms are to be accomplished 7 fra this | peaceful s 1s not legal ie te at If this is ie act oA what ace ‘e not oppose th g e aid not oat a Cg in his crewn. We did not send ims aw! We did not ask him to gl We in his power. We honored him in a addi we farewell with all grace court and kindness, It is net our fault iat thes have failed te rule Spain. It is not our Tault that have into exile. We did not pe di ageloat Xumsdeus; it wad the pol fons re us; it wae Wino wi wishes disorder in the ane ite friends of Don arm 8 prince. ho threatens disorder bere? friends of Don Alphonso, a prince. because of the kings a & republican in arms? 0 has heard a republican Gre ie ip anger? what more de these kings wai hey cl order} peace! security ! Andustry! law! protection. The Re} og —_ er commands peace, makes London, encourages industry in weet recuse, pnd means to develop it Dy removing oppressive trictions—eomes into life by the solemn and feet forms of law, and gives as ite first act pro- to every Spaniard, no matter what his tical convictions may be. What more can they conti What more can they have y’’ It is patniul to ernie ha se to answer them, eee public is simply because it biic, First in this atiitade England— Is Spain a uiscarbed itis E influence oe is the strongest enemy of the new Tam very sure that if the ublic Oo} of England, that noble sentiment hich honors and loves liverty and progress, were to see with gd eyes what is as plain as the sun, there would be mischief between Mr. Gladstone and bdo ABOUT THE AMERICAN MINISTER, wnat m "the e resale America to-day has a Btrength ‘that of all the Fy morally, than See x othe a temper shown igwar Roasoasze i, sat nae not di rinces. Where is there | | yesterday; this is to-day. whose hairs were gray wily Keep and anticipation, became impat asked, ‘is Cordova in the War ar onles and Echegeray in the Treasury? Are there no true republicans in Spain that the army should be under the command of a minister of jus’ and the Treasury in ungate hands?” And so the mur- murs arese, and it was soon seen that the republi- cams of the nation meant to crea no leaders but those who were tried in the faith. THE REPUBLICANS DISHEARTE! Then, indeed, it seemed dark to those ho wished well for Spain. The cloud came up black and threatening. All kind of rumors were in the air. The city which had seen Amadeus go and the Re- ublic come without an emotion became nervous. rudent men sent their families away. One Min- ister had anneunced a party. He cancelled the in- vitations on account of ‘the state of affairs.’ I had occasion to go as far asthe Plaza San Do- mingo with a aap lon correspondent. It was about nine in the evening. “You surely are not goiag out? said atriend, ‘Why not?’ was the question. “Why, itis not safe!” But we went. Everything was quiet. And as we returned through the quaint, narrow streeta no one was seen bus the ehmen, carrying lanterns on a pole, mou! along, like Dogberry in Shakspeare, and seeing that all was weil. The night continue electric. We walked to the Cortes. The session was on, There was 8 commonplace bill under dis- cussion, But no one listened, for all minds were with the Cortes of the two parties who were in consultation eS chambers. The ca/és rere crammed to suffocation. 1 sat down im a grow stern well known to me. “We shall have. fit g before morning,” said one. “Oh! there wil 26, homicides,”” said another; ‘‘to-morrow’s the carnival.” “Don’t be too sure of that,’ said a third, “the worst revolution J ever saw began in the carnival.” “But,” I sald, “have you any idea of the arift of sentiment, or what ia robable # “Ideal? said one who had been for ‘wenty-five years in Spanish affairs, and was a leading man in Congress; here can be no idea! Madrid is a ctty ef surprises. We only live from hour to hour. This is a crisis, and there is one remedy—the retirement of the radieals. We do not want Monarchists to nurse the new Republic.” “But if they don’t retire,” I said, “for they have the Cortes with them,” “The Cortes belongs to Yesterday we were democratic monarchists; to-day republicans. The country has taken that step; if the Cortes has not God help us!” And my friend reiled his com- lorter around his throat and slowly walked away with a serious, grieving face. THE THIRD DAY, OR THE DAY OF DESPAIR. ‘The morning came, and the day showed no bright- ness. There had been consultations all night. The radieals would not yield, They had the Cortes, Why should they have a minority in power who would do them no good? Behind them was the Congress and all the elements of reaction; | before them came the rolling wave. Among those who sent their families away in an ostentatious manner was Serrano. In the meantime the government had taken all precau- tions, I went to the telegraph office to send you a despateh. The office is in one of the a of the Interior eloctemery large, gloomy, building, with cloisters and court Yards thaé might have served for the Inqnisition. Outside al 74 ajet enough—a few idlers staring at a placard. ja the courtyard were two companies oi soldiers standing at rest in double line. There were sol- diers at every window. Patrols of cavalry rode up and down the streets. A company of cavalry sur- janded the palace of the Cortes. The carnival ijled. Iwent to the Prado to see the maskers. There were a few who had come out to disport themselves and a number of carriages, but aithough | they gamboled and capered it was not in a hearty fashion, and men said the carnival was dead, THE PANIC IN MADRID. And so all day we waited. [ went to the Lega- tion on a matter of business. The Minister was there. During these times he kept the RTT open day and night. My business could wail, and I was teld that it had better wait, as in a crisis like this the Minister's attention might be summoned at any time. I went to the Cortes. The same crowd of gloomy, muttering men, resolved to have the Republic and no suspecteé statesinan com- manding the eet and soldiers of Spain. 1 re- turned to the hotel just about five, and went out on the balcony that commanded a view of the public square. All ofa sudden a cry was heard. if rush of people came pouring down Alcala—men on horseback riding terion from the Parade; carriages, with ladies driving home in agallop—men and women, in swift flight going up one street and down another, a spectacie of the utmost panic, in which thou- sands swept through the eet, square like frye pursued by wolves. I thought the fighting had gun, and Wenttoan adjolning root cc eucaison a ool eagne of the HERALD to come, and come swiftly, that we might see the event ‘and note it down. When we gape the panic was over. The square was cleared. re had been @ rash and no more. T looked at my watch and saw that only five min- utes had passed. We went into the street to make inquiry. We learned that a company of dragoons came to the Cortes to relieve the ene on guard. Betore they rode offthey drew their sabres and moved along on atrot, me timid people near, seeing the sabres drawn, suddenly cried out, “Save yourselves! they are going te charge!” an in a minute the word spread and magnified, ana all Madrid was in @ panic. This incident took place a “half mile from where I saw what I have ‘cha you, and friends said that one or two miles distant the same scene was Witnessed. I mention the fact to show you how feverish and electric the city was, and how the slightest misadventure might have turned it into @ city ef mourning and death, “How does it look now?’ I said to one who was carefull bol | the phenomena. “In two hours we shall eituer have civil war or stupid, dull inaction.” ‘That evening the radical Ministers resigned, and there was a harmonieus republican Cabinet. And the cloud passed aw: LIGHT AND LAND AT Last. So ended the third day, and the work was done. The Republic was launched. They were days of labor. The first was when Figueras cempelied the Cortes to hold permanent sessio! That opened the battle. The second was when the Republic was formally voted, That was victory. The third Was when the monarcnusts were driven from the Cabinet. That was securing the fruits of the vic- tory. The last day was the darkest and most dan- gerous day of all. When it raed and public opinion compelled the surrender of the Cabinet men saw that the Republi¢ had its chance of success. A MERRY DAY IN MADRID. And now tat the history of this event has been told, you may naturally ask, What of the future? Isa ‘republic possible in Spain? Is this Republic prevable* All is bright and clear enough now. I write this on ® warm, sunny day—ene of those days that Winter gives you in Spain. Beneath my window are voices of merry men and women— music and singing and le is the season of foliy and ine ad, cheerful elatter. This diulgence of soul. ‘There, tame: of red and green, with taseelled caps braided with silver. They are ing gui! and as bg dee crave lal ca for poor, and will = you thei most balcony with une! winning music iy is! just the | the Summer night under my lady’s chamber win- dow; and how dertly they toueh the strings as they merrily caper along! And now come a . orem of Jads and maidens of the poorer class, who circle and dance ‘4 serious, slow measere, with 0 cas- tanets and much winding in and ont, to the music 1d by one whése lace is darkened Another group is dancing around an open barouche in which there are two masks—one as the Ace of Dia- monds, the other Mephistopneies. And earriages roll along to the musical concert, and crowds make their Way, everfewing the sidewalks and running in the streets, eager for the bull fight. To-day there will be a special bull fight, six bulls to be slain; to-night a famous masked ball. Don't you see how merry We are, bow light-hearted, how resolute in our pleasures, ae jow glad to take in advantage ol this ne “The | ople are restive,” said a minister to Napoleon. uta new coat of gilding on the dome of the thvaiide, That will keep Paris amused for @ mot id after the stress of this exacting week we nave the buil tight for Sanday’s recreation, which was certainly @ wise move On the part of the government WHAT OF THE FUTURE Truly we are cheerfal enough, let the future be it may. And when I ceme to discuss the question which naturally arises at the edge of so een narrative, s@ much remains to be satd—so questions to be cousidered—that I must nive it another letter. This in concluding, however, These men of Spain have Sn a noble work, bm | have done it well. Nor is it @ spasmodic ‘The Republic comes as naturally, as inevitably, and by the operation of those wise, hidden, ene! laws which — Bas ang as well a8 men ani flowers and flower foliows the bud and the fruit the dome It will pore with the Span- ish people to att will be sweet and Ufe-gi or like that my those ee ss Tat pag 60 tke ua. FINANCIAL AND COMMERCIAL. ROMER PR A oe The Dulness in Wall Street and the Causes of It. par RUE ahaa PERSONNEL OF SPECULATION. sea OES The Course of Stocks, Gold,and Mouey. ae Lease of the Harlem Railroad to the Now York Oentral and Proposed Doubling of tho Oapital of Panama. SL SATURDAY'S BANK STATEMENT WALL StREBT, } Sunpay, March 23, 18° The week has been a dull one in Wall street, much to the disappointment of the brokers, who have been ransacking their memory for a paralle) case of INACTIVITY at this season of the year. Ip explanation we have, first, the protracted scarcity of money; and, second, the occupation of business men with their legitimate concerns. It if just the season when merchants are engaged to the extent of all their time, and speculation is a luxury which requires leisure for its indulgence, Whatever may be the inference—and the matter is capable both of intel- ligent defence and of censorious condemnation— the ranks of the Wall street speculators are re- cruited more and more every year irom THE MERCANTILE CLASSRS. It would startle many a staid, old-fashioned mer- chant to learn how many of our merchants make ventures in Wall street nowadays. They are not there all the time, be it understood; they devote themselves during their busy season to their own business with slavish energy and perseverance. But in the months of dulness—the “off” seasons of trade, so to speak—they scam the stock list, read the money article, and make ventures here and there in amounts varying from the conventional one hun- dred shares up to a thousand or several thousand shares, It is the absence of this element just now which contributes not a little to the DULNESS OF THE STOCK MARKET. It is evident that a similar explanation will ac- count for the lack of interest on the part of the great mass of out-of-town operators. When money is so scarce and the interest account tends to cat up the profits of a venture the outsiders are loth tocomein. Again, money has been and is worth 80 much all over the country this Winter and Spring that rich men prefer the certainty of the high return of interest to the chances of Wall street. It is only when capital is a drug at two or three per cent for its use on call that it is tempted into stock operations. Hence it is that we finda “plentiful lack” of the “out-of-town orders,” whieh have usually burdened the telegraph wires and mails at this season in previous years. It is not impossible that THE SPRING RISE may yet prove a reality and a successful eventu- ality to the patient “bulla” of Wall street. As we already know, the movements of trade and money @re alla month to two months bebindhand, The merchants are beginning only now to experience the activity in trade which should be at its height. A few weeks hence Wall street may have its turn. It seems more likely, however, that the fever of speculation will be deferred until nearer the Sum- mer. AS maybe fancied from these comments upon the stock market, the fluctuations of the week have been of important extent outside of two or three specialties. In general terms the market was weak, and prices declined up to, @bout Thurs- day, when THE CURRENT, CHANGED and the lost ground was nearly regained by Satur- day night. About the widest fluctuation was in Harlem, which, after an advance to 1393, on the impression that the capital weuld be increased and the road leased at 8 per cent to the New York Central, fell back to 130 on the discovery that the road would be leased at its present capital only, but would retain independent control ef the horse- car lines in Fourth and Madison avenues—an elastic souree ef revenue—which, by judicious Management, ought to add enough to the rental guaranteed by the New York Central to make the road pay its stockholders not less than 10a 12 per cent. At the close on Saturday @ report prevailed that THE PANAMA DIRECTORS contemplated doubling the capital dy the award of a scrip dividend to present stockholders, and ex- pected to pay 8 per cent dividends in future on the enlarged capital. The course of the stock, however, had been at variance with this idea, as its price declined during the week from 122 to 112— in fact, to 109% ex dividend. In the gold market the premium recovered to 15% on the lighter ex- ports and the heavier imports of the week, the movement being assisted by the action of the Treasury in issuing about two millions of the so- called reserve of greenbacks. Money loaned at 1-16 and interest and down to3a4per cent, the relaxation being quite encouraging on the last two days of the week. LATEST PRICES OF GOVERNMENTS. The following were the closing quotations Satur- day evening for government bonds :—United States currency sixes, 113% a 114; do. do., 1881, registered, 117 @ 117%; do. de. do, coupon, 119 a 119%; do. five-twenties, registered, May and November, 116 @ 116%; do. do., 1862, coupon, do., 116 a@ 11645 do. do., 1864, do. do., 116 @ 116%; do, do., 1865, do. do,, 117 a 117g ; do. do., 1867, registered, January and July, 115 a 115%; do. do., 1866, coupon, do., 115 & 11544; do. do., 1867, do. do, 117a 117%; do. do., 1868, do, do., 116% @ 116% ; do. ten-forties, reg- istered, 110% @ 111; do. do., coupon, 111 a 114; do. fives of 1881, registered, 113% a 114; do. do. do., | coupon, 113% a 114. COURSE OF THE GOLD MARKET. The extreme fluctuations daily in the price of gold during the week were as follows :— dAgnest. Lowest, Monday . sees » 1b 6 Tuesday. 115% 116X\ 115% 15% Noy 11545 1b % 115% 15% 1hbis The last sales of gold Saturday were at 115, and tite quotation closed at 1165; a 1154. SOUTHERN SECURITIES, The Southern State bonds were more active dur- ing the week and the market irregular. The Ten- messees, after a steady advance to 8@, declined quite suddenly to 82 on the discovery that the Legislature in enacting the Funding bil) had ltm- ited the rate of taxation to afigure incapable of providing revenue enough to pay the interest. On the other hand it was stated in explanation that the valuation of property had been raised nearly a is it: hundred per cent, so that the revenue would prove suMict A streng demand for THE MISSOURI SIxrs and a rise to 05); @ 95% are attributed to a belief that the State will pay her interest in coin before another year goes by. The following were the closing quotations :—Tennessee, ex coupon, §2 a | 62%; do., Dew, 82a 82%K5 Virginia, ex coupon, 45 47; do., registered stock, old, 36 a 39; do. sixes, consolidated bonds, 563, @ 66%; do. do., deferred scrip, 14 @ 15; Georgia sixes, 70 a 78; do. sevens, 88 490; North Carolina, ex coupon, 30 4 22; do. to Naqrth Carolina Railroad,60 a 62; do, fund- ing, 1866, 20 @ 25; do. do, 1868, 18 @ 22; do., new, 17 418; do., special tax, 14 4 15; Mis souri sixes, 95 a 9549; do, Hannibal and St. Joseph, 914 91}s; Louisiana sixes, 45a 60; Alabama fives, 55 a 60; do, eights, 80a 85; South Carolina sixes, 30a 40; do., new, January and July, 18 a 20; do, do., April and October, 20 a 22; Arkansas sixes, funded, 40 &@ 43; Mobibe and Ohio Railroad sterling, 90 a 93; do., interest eights, 87 a 90; Mis- sissippi Central Railroad first mortgage sevens, 92 @ 05; do, second mortgage eights, 87 a 90; New Or- leans and Jackson first mortgage, 92 a 95; do. sec- 876 004 MemRbA apd MARCH #4, 1873-—TRIPLE SHEET, Rattroad first mortgage, 85 9 87; do. second mort- gage, 77 & 80;.Greenville and Columbia Railroad, guaranteed by South Oarolina, 54a 60; Macon and Brunswick Railroad, guaranteed by Georgia, a 65; Memphis city aixea, 58 a 60; Savannah city sevens, 85 @ 86; New Orleans sevens, 58 & 62, THE BANK STATBMENT. ‘The weekly statement of the associated banks is favorable in 60 far that it shows that they have crossed the line of legal reserve and now hold spe- cie and greenbacks to the extent of more than twenty-flve per cent of their liabilities. It will be remembered that the national banks kept above the line all along during the past month, but all the banks, State and national, are now fortified in reserve to the oxtemt required by the National Banking laws, At least they are so in the average. A few institutions may continue to fall belund, but these latter are, of course, the exception. The change in actual reserve is very slight, only a hun- dred thousand dollars or 80 of A GAIN, but a contraction of nearly three millions in loans has enabled the banks to mark off @ million anda half of deposits, 80 that the gain in net reserve amounts to nearly half a million dollars, Tho statement compares with its predecessor ef last week as follows:— March 15. March 22. $278,028.00 $25,198,800 8,946,700 11,472,300 Beto: 400 27,613,600 196,005,400 194,625,600 88,716,500 38,804,200 Decrease in loans. . Increase in specie, a Toss age in circulation...... ase in deposits... Decrease in legal tenders... AN ANALYSIS of these figures shows that the banks now hold $217,226 in excess of the reserve required by law, a gain for the week of $481,475. The following com- Parison shows the variations in detall from the pre- vious week :— March 15. March 22, Changes. $15,946,200 $17,472,300 Inc. , $525,600 . 15,500 38,304,200 Dec.’ 411,200 ‘Tot. reserve $55,662,200 $55,776,600 Inc, nee Circulation. 27,010,400 27,613,600 Inc, posits. 196,095,400 194,923,500 Dec. 1,: a 200 Total li hilities. oa ae, 800 $222,237,100 Dec. $1,468, 700 26 per cent. 726,450 55,559, BG, 876. Defictenc; « ot legal r’srve 217,225 Ine. STOCKS ON SATURDAY, The following table shows the highest and lowest prices of the principal stocks during the day :— 481,475 nest. Lowest, ew York Central. 1005 Raises 63% Lake Shore 93. Nerchwestern. Northwestern preferred 88 3 8834 Rock Island 11536 114% St. Paul.. + 565% 56% St. Paul preferred. oe The 154 Ohio and Mississippi. 45. 4555 Union Pacitic.. 3 3455 coe ©. and I. | 3834 estern Union ‘eiegraph. % 874 Pacific Mail 55% sai ‘The following were the quotations at three o'clock P. M., when the Board adjourned :— Western Union. 8744 a 81% Northwest'n pf. 8834 9 Panama... Illi @ U2 Nd Centrab....-103 Northwestern, In Philadelphia Reading was steady and quiet at 1164. COMMERCIAL REPORT. Cotton Firmer—Receipts at the Ports 7,838 Bales—Flour Quiet—Wheat and Corn Firmer—Provisions Quiet—Gro- ceries Quict—Petroleum Dull—Spirits Turpentine Lower—Rosin Firmer— Whiskey Firmer. Satvrpay, March 22—6 P. M. ‘There was an increasing movement in general trade circles during the whole of last week, super- induced, in part, by a concession on the part of sellers, 'Which enabled buyers to make better bar- gains than they had previously been enabled to do. But this was not always the case, as some commod- ities appreciated under the increased activity, and were higher at the close of the week than they had previously been for some time. This was notice- ably the case with breadstufs, which were held firm on Saturday at extreme figures. Cot- ton, after having experienced a radical decline, was mere steady at the close of the week, though the demand was but moderate. Fiour ruled quiet, but steady, all through the week. Wheat was in limited demand all threugh the week, but there was little more inquiry irom the ‘shippers on Thersday, Friday and Saturday, under which prices advanced 8 to cents per bushel, and the market closed firm on Saturday at the advance. The stock is reduced to a very small figure, while the receipts have been very small, se that there is little probability of any augmentation until the opening of the canal. The corn market ruled dull all through the week, but there was a little im- provement in tone on Saturday. The stock is am- bat prices are so low that the resumption of canal navigation is not regarded as likely to affect the market te any appreciable extent; still the fu- ture price of corn, as of other commodities, 1s, of course, entirely problematical. Oats were firm during Nee last part of tae week and closed firm. Whiskey declined considerably during the first partof the week, bat i efoeed with a firmer tone en Saturday. The movement in provisions has been fair, though pork and lard were scarcely so buoyant or firm at the ‘clove of the week as during the earlier part, There was an increas- ing movement im the hardware, dry goods and other de- partments of trade, not specifically noted, bi “id Tinget | 6 quotations showed little or no chai for e tter. The freight ‘and charte: jusiness UR lerwent but little change. sora freights were comparatively cheap, owing te the sm: ‘Tonnage was scarce ail th: thrown a the week, and the ship- ping business comtinued to thrive in all its Drauches, rates continuing high, with @ good inquiry for vessels. Groceries have been quiet all through the week, coftee, in particular, having been dull, and on ‘weak. Petroleum has ruled firm for all fraden, "pail the demand has been very light, and prices to a great extent rere uominal. Naval stores Dave finctuated consider: Sbiy during the week, and closed te-day decidedly lower for spirits, while the market for rosin was @ trifle be tte: Jorrax.”—The market continued dull and weak, we receipe of the elegy 8 a ae. wth pend e heard re) te n hionOrdinary MIT good cargoes, 17\c. prime Ke tor lots, Ib\0. a 18: pret rc ae } extreme ran ‘90 day: ri Corron.—The: is afatr movement in cotton for ex- port. and th truled firmer, the subjomed quota- ons showin advance of ssc. per Ib. a all S rades, at i ‘which improvement the market cl "or future y the market was decidedly ‘irmer, Tnder a fair astmand. ‘We sum up thus:— Pe Day. East Evening, Sote Export... 1,269 wate Cousumption.: 8 4 Total 1,622 —Forr Ww vaniadling) ime any have Deen as toliows :—Sales last eveniny three March, 100 at 184g0. iA tb i6e , 08 a at 18 9.166 i P13 6e.. $0" at 18h * vane: 600 at 1 931, “WO 19Ne uly, ‘ato "at 19 6-160. 4.300 ee, Bales,t ai day up to FM ie The receipts at the 1,117 bales; Now 5 aa ahs ou Norfolk, 742} “i: New York, Boston, dT ni Thi ay" last ra. an "This day ‘last ee ia. | as follow: ii wre, oat, le, comp! essed ; Savannah, 7 | 16% 6 Striot good. ordinary Wa a7 1% Low mudd) 8% 1s 18% Middlin to Isis 195 Good middling 24 2185 Ei " a2 —The quotations are based on cotwn in store, ramming in quality not more than half a grade above of below the grade quoted. FLouR AD Gnais.— Recoipte—Flour, 8,290 bbls. ; whi g9 bushels; corn, 2.082 do. corn tla bbls. an j oats, the week ending, flour, 42, corn, 115,292 do. ; ‘corn ‘meal, t nit6° ‘bbI: oats,” 158,060 bushels; barley, 1,539 40,4 flout ma¥ket ruled quiet but ate 13 f s2 Hy boas 3B 3 sie 36 36a 315 40 ». be Sova 366 1 was quiet, bul 0.2 Malwa < very wirong for inir No. 18> was I, id at Satna ease Secs i oc q jn store praiuuty while 1 BS for falerlot Genesee’ ore fe on opr bat not py iek the sales were Ll 000 bushels at Gic., for weevil Cita store: Oto. for old mixed, ‘in store; ‘be. {08 dow " Gie. eaterh, afloat; rncw mixed do. ; ne’ yellow do: toys Ef Southern white, ‘sey new, on pie were firmer, with a, fait Inauiry for mixed; the sales ug- grogate 15,500 incar lots, at 434. on track, Hekatoat tor heavy teato, tle a diitos for how Wester mixed, 49c. a 80440. for new Western white; choice old, in storo, held at Sidsc Barley ruled firm, with sales 0 15,000 bushels at $115: for $1 W tor prune Canada in store. hye dull and nowital, at B80. oF Cau Room being scarce by vessels on the berth was very little socpmallshed in the way of trans- actions, but rates were ady. There was less doing in the chartering line, although the inquiry fc sulle vessels for the petroleum trade continued tair. were without noticeable change. | The | eng: were a yite by sail, BOO To terms. rey leat 80) boxe cheese at 55s. 250 ‘bbls. flour at 3s. rae 5a.; 6 tons leather at 70s, ; and by sail at '8igd. per standard’ bushel. o, Liverponl by sfedun, | 1.000, bales of cotton at | ied | Sibraltas, tobacco and 4000 cases troleun. ‘to * gid Dhds “tallow and. 2 wood, all on private terms, ‘The charters were sha fiallan. bark, of 400 tous register, hence to Gibraltar and, Genon With general cargo on priv: ia Britis) bark, hence {9 Landon diteet with 2: 090 ed petroleuin at ds. od. au Italian ris, to Gibealiae for onde Mediterranean. with 7 cases refined d a7 gratuity, excluding Span Ghpora and privilege. varia ‘ Ne ian bark, tron Philadelphia to me eran baie with 5000 bbls. refined do. at wegian bark, hence ‘to Ui 88,, according to ports; a Nor- nstadt with 3,500 bbls. ‘refined do, at 7a, $d. a Norwouian bark, hence to Copenhagen with 2,400 bbls. refined do, at 6s. dd. an Tlatinn slup (now outward bound), from Cadiz to New York with 1,900 tons salt on private’ terms: am American bark, of ‘681 tous roy ‘ister, hence to C: with t previous Fates, and itish bare, oF 595 tong r 1 Cape ‘Town and two portsin Java with o ‘in cases end nierchandise on priva fovasses.—The inquiry was moderate, but without re- sulting In much business, transactions being confined to Jobbing lots orton tic, aeerogatin apoue 6 bbls. New ‘Orleans, at from 69c. Mee Con, ew Cuba, centrifugal and mixe Mee alte, 7X Cuba, clayed —a— Cuba, muscovado, refining. Cuba, muscovado, grocery Ports Bic English 1 New Orie 56. 4 75c. NAvat, Stor urpentine the market Was duli,and again deotdedly easter: Sales were made early of 76 bb ter 50 bbis, sold at S5c., with Gord Ottoring af ‘thet jprios, witout nding buyer Rosin was considerably Aruier, under a fair deman fon, and'a3 20a at the ro: 40 for com. Boia 'at $8 97 irae ari aed meld 0 r Cras ae eo ‘sold ney Souder a 0° ar easier; 100 bbis. of iraftivten sold” (to arrtve) at LeU. —The market for refined continued dull Leto inal. Quoted at 19},c. for spot or balance of mont nomi Crude in bulk was es ‘m, owing to the ineuttielent supply of franape ristion. Lots on the spot were quoted at (res for pork at 9c. Cases remained 4 26c. Naphtha was neglected tor Western and Ise. tor city. omarket ‘was still dull but nomin ly Juoted on the roads at $2 10, and at Oi The Philadelp| market remained Tabet pik lard, 1, for the week oping Fork, 3 ages; cut m and 853 ke; steady: sity prime mess on private terms: also gies Bacon was also quiet and pets ed. Boxes city long clear at 8%c., and 100 boxes Short my at 8%c. Dressed hogs firmer; city at 7\gc. a 7c. and We ee at 7c. Beef was rh et, but gigady at Hh for new plain Dbis. ; $13 lo. extra Si re 8. 5 Hike for do. prime mee, Meter : and $238 for do, In do, tierces, the sales were about 150 A within the range. Beet hams were | ia ae unchanged ; La lrsgese at $80 a $81 for Texas and 8 $33 for Western. Cut meats were less active, but the market continued firm. Bales 20 boxes shoulders at Bic. 8 pick led hams on private terms; 80 bo: rr lg Poe 956 bbls. : 13,669 bbls. ahd tierces beef, The market for mess ork was Is. sold tor June at $16 uiet but 8; and LO bbls. of Je xes dry hams, 10 ibs. average, on private teruis; 10,000 Iba, Joose bellles,'10 Ibs, average, on private terms; hams, Il Ibs. average, at 11 9c. Lard was on 1 4 m Ket was firm, Salee 160, tlerces, on the dock, at 8 7-160. ; 230,do., for March MEST Be +10 do. fOr April, at 8 9.160. ‘was in moderately fair demand and steady. Sales rolina at 7c. a 83c., and 250 bags Rangoon ihe market for raw continued quiet, but prices underwent no material change, The sales were:—173 hs. of fair Cube, at 8. hhds. of Forto Rico, at low oY ele Guba, at wie and ve yed tte in, res. wee nferior o preene rig a, (C5 8! good Daoist; privet ies a Be agai, h coor ite Sistas hide: ‘aud boxes, 76 5 Boxes, Dutch standard. si, iso ie mon tb pri ‘8 x aera We standard, — indar 5 EL tol and extra ad a ‘anim Jith sales of 25 tierces prime, utr, a i Siac, a sa sional” tive; sales 100 hhds. choice ata Ioite, and 35,000 Ibs. prisms, at t8Mc. a Wintiewy.—Receipts 417 Dbls., aud for the week. 90 do, Themarket was) steady Dut leas active. Sales, 250 at ic. oe 7 ranii—Daten fin: A isit tog Re geeks ieee Nos. 10t013, "pean be ead gb DOMESTIC MARKETS, Ganyestoy, March 22, 1873. C otton oe good ordinary, 153gc._ Net receipts, 1,117. bal rts—To Great Britain, 989; coast (wise; “ oa PStock, * New Omnia, March 22, 1973. Cotton in geod demand; ordini Ret ee 1636 iy eh ero we CH diigo 8c. ehzports sos coastwise, icine 8b ross, jy 4 Cotton firm ; middlings, 184¢c. panes March Net Feoet Bales SS “ales S00 Stack? 3: 41. Exports a avanwas, March 22, 1373. n firm; middlings, sce, Net receipts, 94 bales. Esper to Great Britain, 825. Sales, 790. 49,343, Lovisviiix, March 22, 1873, Tobacco firm for desirable qualities. Sales 132 hhds. Nad poco N, C., March ay. ni for Be aqict at Poe firm, ‘0. 2. Crude turpentine steady, ond #4 for yellow dip and virgin. Ta: eco, N. Y., March 32, 1373. Flour steady. Sales 1,300 bois ae $873 for No. a $9 75 + Winter, $10 0 for white Winter, $1 i for double extra. Ashore Bok and firm. Corn di Bales of Western at 60c. ; te, 58c. Oats heid at 42c. 4 Spirits turpentine strained ; at $2 25 i, hard, State. Barley—Very ite i. the market. ore feat $130 for bolted, $1.25 for mabolted, per cwt. caer ed; shorts shij per $B, a an $8 er J Alba a relghts-—Flour to Becton, ie. 3 to New York, 62c. ; < oi G0, March 2, 1873. rivate Flour unchanged ; tag! terms, Wheat Aes it Seite ry di — oF Lard 57 85, for No. t al selier rest si 75, eller “tay. elie’ May” ‘Monts quiet and unchanged. “Wis: Keyfimvand in feir demand at sone. Recelpts—13,000 bbls flour, 28,000 bushels wheat, 74,000 35,000 oats, 1,000 do. rye and 9,000 bbls. flour, 12,00 bushels whe oats and 16,000 do. barley. a + me __FINANC Mae A UGUST BELMONT & CO. Bankers, 19 and issue Travellers’ credits, availabe in ail parts ot the world, through the Messrs, DE ROTHSCHILD and their corres} Also Commerc! Calitornia, —LAPSLEY & BAZLEY, 47 EXCHANGE PLACE, — | + STOCK PRIVILEGES FULLY EXPLAINED IN ol Sen WITH PRACTICAL aa AND 'EREN om ae ato MAILED TO AD- EYOND AMOUNT INVESTED. + RAAMONABLE ~RATES.—MONEY ON LIPE AND Endowment Insurance Policies; also on Mortgages; Insurances of all ki fre with best J.J. HABRICH & CO., 119 Broadway. at “Sredita and transfers of money on ind Havan: “ANY ACTIVE | MEMBER OF THE NEW YORK STOCK Exchange, whe has an established business and is desirous of obtaining @ general partner with a view to in make an ad- in who bas had furnish be office. incre: Present business facilities, c vantageous arrangement with a gentle: an extended mercantile experience and capital and custom. Address ©. T. R., Herald AS —MONEY TO LOAN, ON BOND AND MORTGAGE, «in New York, Brooklyn and New Jersey. | Princt: pale 0 ony apply to SAMUEL 8, WOOD, Jr., 156 Broadway, Fy aR & BRAINE. 11 BROAD "grey mech, oy Gold Bi Stock Privill aspecialty; Puts, Calls and Doub! Mace Privileges on, all ac; tive stock: Small capitalists will find is, a sale of apecalating: Explanatory Tl dlara, with references mailed on appiical Ne KM) WES & MA BANKERS, 19 WALL STREET, NEW YORK, OFFER HE SAME FACILITIES TO DEPOSITORS AS INCORPORATED BANKS, AND ALLOW INTEREST ON DAILY BALANCES AT THE RATE OF FOUR PER CENT. iS NEGOTIATED BY US FOR ONE ne pogo have, } netted si ht per cent ber an HAT for IW) shares: Wor 0 days vet ate P'BAZLE Brokers, 47 Exchange p ‘LOAN—0' ROO MO snd newark Hirst class Property; First and Second NEW YORK, nt a Mortaages eS E RT, 61 Liberty street, basement. _ Non Tessvase's Orrice, Erte Rayyay ¥, Soman h 18, 1873. ‘The interest due April 1 next, on the yourth pores bonds, New York and Erie Railroad, will be pase at ofice of Duncan, Sherman & Co., 11 Nassau W. T, SHEARMAN, ‘Treasurer. NION DIME SAVINGS BANK, and 398 Canal see, corner pfinn i Six per cont interest Money deposi now will bear interest from Ap Assots, ton millions nine hundred and e thou: sand ‘dollars. Books in English, raronch German, Sewrae Re nn toon n- Brneckon- — TY WAxtep TO PURCHASE 2008, Ory Eee | turmer Bonds and | | ca beg ae | hereinbefore described, exc! STATISTICAL of Commerce and Finance for the year (87, comparea with precediag years—the compilations being repeoduced (in the New York DAILY BULLETIN, ad as ULLETIN OFMOR, Price, in flexible cloth covers, Price, in cloth boacds..... $85,000 7 404".o" oe Beal Buea, will ‘buy First and Seci ‘oud BE Nay _W. TLES, 56 Wall street. $150. 000. TO LOAN—ON NEW YORK, BROOK- 9) + lyn and New Jersey property, insures to suit. First, Second and Le er Mor" és A.M, JOU 60 Broadway, room S _ id 40 LOAN ON BEAL RaraTe $165.000 this city or Brooklyn: $5,000 and ape wards second Mortyages ne} Apply to JUUN Pe CONREY, 162 Broadway, room 9. = & COPARTNERSHIPS, OUIS F, DUPARQUET AND P. FLUOT HAVE THR day tormed a partnership under the firm oame ef L, Duparquet & Fluot, in the manuiacture ot Ranges, &c., in continuation of the late tiem ot E. Monouse parquet, at Zé and 26 Wooster str ‘ork. Dated March: 20, 1873. MRE FIRM O MON E & L. DUPARQUET HAS this dav beew dissolved by mutual consent. | The affairs of the firm will be closed by F. 1. Moissen, at his office, 291 Broadway, who alone 1s Tuthorized to sign the partnership name int Hqwidtion of its attains, ONEUSE & DUPARQUET. Dated March 20, 1873. oe THE WASHINGION MARKET JOB A Bill to Place the Market in the Hande of a Monopoly, Who May Charge Whas They Choose for Stalls So Long aa They Pay the City Seven Per Cont om’ the Appraised Valuation. The following letter and bill expose what looka very much like a gigantic job to place the tenants in Washington Market under the heels of & rapa. cious ring called the Washington Market Company, the names of the corporators of which are not di- vulged in the bill Srats oF New YORK, ASSEMBLY CHAMBER, ALBANY, March 21, 1873, To THE Eprror oF THE HERALD:— I herewith send you a copy o/ a bill introduced im the Assembly providing for the leasing of a large amount Of city property, known as West W: ton and Waslitngtou Market, to.a company callumg themselves the Washington Market Company. This bill, a8 you will see, provides for @ commission to Value the said lands, ana their valuation this company is to pay seven a cent and taxes. The Commissioners are to lease tbe property to this company for the term of tweu~ -ohe years, With two renewals, making a lease of E ixty-three years. This lease, you will obsel ig to be at the option of this market comp: thirty days. No other person or company is al- lowed to come in competition for this lease. The valuation of this valuable piece of preperty is to be left entirely in the hanas of the Cemmissioners. Now, sir, will the property owners the city ef New York allow this gigantic speculation to be ao- complished without a protest’ The only proper and honest way to dispose of this market property 18 to put it up at public auctien to the highest re sponsible bidder, who will erect a suital - ng af ice fw thereon, after paversning: a suficien' Pies your paper and oblige yours respectful: i WILLIAM Npona time for such purpost ase give this cn Aw Act to authorize the leasing of certain real éstate Bes longing to the corporation of the city of New York. The people of the State of New Yerk, represented be Senate and Assembly, do enact as follows :— Sxcrion 1.—The Board of Commissioners of the Sint Fand of the City of New York are hereby authorized directed, within six months after the pi e ot this act, to lease for the term of twenty-one years, with covenants fer two renewals, the lands and tenements, the property of the corporation ot the city of New York, bounded on the north b; Dy eal street, on the east b; Washingion street, out ‘wl the south by Fulton street aud on the west by West known as Washington Market, and cn) e lands tenements bounded on the cast by West street, om the north by Vesey street pier, on the oy ihe aneameet ler, and on the west by the outside pl ier as estan, hed by the Dock Coun muiaeloners” ge York, and known as West and excepting therefrom Wiers ead between said piers as now used and occupied leases from the corporation of New York, and all ingress and egress to and from said piers and bull ass ‘ong — wie a Sppreteers, shall be pointed within a thie iat T the pi or act r here! tin the wanner i value izens and taxpayers'ot said city, in the purchase, urchase sale on not have any interest, direct or indirect, except ‘aie reperty, or any part thereof. pautlee Whey 3h or valuation of said fore entering u} elt aut shall in due Fees cae err aes eae an oath or aftirma’ to th gg it they will seit sad faithfully are ihe. duties yon they upon them by thie act to the best of their al feb <= their services the by the lessees of seid property on dellvery' to ree, or the lease erein pro or. ‘Sx¢, S—The said Board of Appraisers shall be a] as follows: “the a Bord of Comnuisaieners of Be sine ing Fund sl ie ditectors 0 of athe Waabiegton on Market Company shall ‘4 writing nominate ene; and when the said nomi are complete the said Board of Appraisers shalt be appointed, and they shall lahereupon take tho obligation hereinbefore mentioned and proceed in the performance of their di Im case any ome of the persons so pointed shall decline to serve or a vacanc set occur said Board the place thus vacant shall be filled in the same manner as the appraiser whose piace is vacant was first Sipe. sxc. 4.—The said pelt ofappraisersshall, within thirty daysa fter: their appointment, make and fle, in the office of the Register of he city ant bigs ‘of New York, ve reportin writing, sul ed by them and verified roper ferm by Mihels oe oathsor affirmations, anh dete aor Rhowiedued before an officer authorized to take ac- te engi of deeds, wherein they shall state ‘a oleThe valuation as they have ascertained and ap- praised the same of all the estate, right, title and inter- est which the corporation of the city of New York has im the real estate known as Washington Market, hereinbe- fore described, exclusive of the streets, and taken to- ether as a whole and not in separate parcels. bg 3 The valuation as they have. ast eninge’, and ap prnuee the ‘same of all the ‘estate, le and terest which the Corporat has in the real estate known nm duty a and they are here! or pear as one "fot or parcel for the for an annual sum or taxes and sements imposed the: ever to the condision, sees the i ‘bait be be ket purposes, and wi ver it shall cease to be used market Durposes ih the lease. shall termina o the further gS the lemoes hercot within ree aeructures and 6 fireproof Butidings? suitable au } a subject to the aa ne Mod th the said lease shall contain ange’ Fag feehirther condition that (he lessees therein shall, within one vear after the date thereof, commence ion of said buildings, and “expend thereos ix months next preceding the time whem ch of the, renewals provided for said lease is re~ red to be exclusive of the buildings thereon erected, shal manner hereinbefore provided for aking Ge praisal thereof, and the annual rent for the re i term next thereatter following, shall be ® suum teh o seven per cent upon the valuation as fale and determined bo a, such appraisal, sab id assessments as aforesaid. —The said ‘Commissioners of the Sinking Fund proper in proper form, and deliver to the ary, jase thereof, in acordance with the Seaviaious'e of this yoy covenants aie and proper, we i the imto effect. feevived, by sald Commise sioners ihalt Ne rer ho them to the credit ot the Sinking Fund of the city ot New York. —The said Commissioners of the Sinking Fund shall give the Washingtoa Market Cony ae he mo op tion, opportunity or privilege prope tha ah the terms and subject’ to the cond . shall Soy cae Lhe ‘ean othe or pe sont until after thirty days’ no! wri said a Wash ington ere Ua Geks ubell moglecs or teens to take such ‘sxc, 9.—The said lease shall also contain covenants and At at the expiration or other lease, the city of New York tructires and buildings ave been erected upon said which re! ing the continuance of said lease, and shall pay “the lessees named in said lease, their heirs, nore suc assigns the then ‘value thereo en val shall be ascertaiaed by arbitrators b wand lestees, their heirs, executors, TacoSees oF mutually Senpent ter »; Ay pommiesenees. yr that ahd ene a! bd % "oe 100 Of ‘pas York, and thence! shall become and be vested Ria Wee 10—This Pale oot chal aac cfeet imanetiatly ms of acts inconmstent —_ jsnot ace harobr guvoaied