The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-21
FINANCIAL AND CONNER GAL.


wEDsEspAG, Nov. 20-6P. NJ
The gold market was arm to-day, range hav
pg been from Issk to 140 with the closing transactions
- l3ok The supply Of cash gold largely In
n the borrowing demand and losns made at
per cent per and 80 per cent per diem for
carrying The gross esarings amounted to So 272 00o
she gold balances 81 65l, lS2 and the currency bal
sancss 70 "a 227, $50 The market has . moderately
strong UNDERGONE owing certain degree Of dlstrust
which prevails with regard 70 the meeting OF Congress
and IL future lsgisation In relation the finances and
the reconstruction question. The belief is general
amsng the mercantile community that msa-
surss Of currsnsy imitation will be advocated
IN beth houses, and that the act authorizing the
Secretary Of the Treasury contract legal tender
win b repealed, II fresh issues OF legal tender
ootss nos sanstionsd The effect Of the undue
aracon Of the past year visible all over the country
An the depression Of trade, and business men are
enxiousy awaiting relief 70 avert the disasters which
Min certainly result from perseverance, In present
yclicy Of the government respecting the currency. The
currency now in circulation u than enough 70
meet tho requirements Of the country and the
4hs existing approximations Of further curtamsnt OF
IT. volume removed the better il will % for the
Treasury and the people Congress should therefore
1sss no une aftsr meets IN legisAting upon this i'm
pcrant question, taking ct the time guard
against Tie ia1atoa for which the West Il camorng.
The artificial activity 10 the money market continued
without abatsmsns throughout the day. and loans were
uade In not few instances 1t seven per cent, with
ssmmission added. while the private bankers who
eho0s - ask seven per cent In gold had no
dnsaisy n employing Ill the funds they had TO lend
~ that rata. The initiative In The present monetary
squeeze We taEsn BY combination OF BEARS but the
Dull cqass have coopsrated with shsm in order to buy
back che stocks they sold week. and At the same
hws
Treasury in selling gold and otherwise resortng 70
special means OF increasing IL currency balance. The
4sa this evening. including CON- $40 $751; which
- souswh1t below the point IL stood at last
pghk In the discount line there u consider
abs pressure for accommodation q the banks
end only . small portion Of the paper
Snsring taken; but the rate romans at seven per
csnt for the best grade while the street Il has to
submit 70 10 per cent There d An outward flow OF
currency To Cincinnati and inward dow from CHI
eago the former nearly balancing the latter while the
Arain southward continues very light
ne Clearing House Association Of Chicago have
adopted resolution. 70 take effect the LIST OF De-
ssmbsr. providing that each bank shall make monthly
statement OF IL capital, average deposls circulation,
discount cash reserve and available exchange for pub
Gcatton. together with quarterly statement giving Ill
ths details nscsssary fair understanding Of it,
ditieA This y step In advance Of what 10 required
Snder the National Banking Law, and speaks well for
che banks concerned In the movement
The stock market has shown . rsactlonary tendency
apa North western mounted to 67K; while the
general railway share list experienced slight advance
The knowledge that the pinch in money being felt
y the work Of few Who have merely stock job
bling purposes 70 accomplish has disarmed It Of its
ssrrsr, and the speculative feeling b actually
becoming moro bulsh under It than Il was
before The pressure was felt Three banks were
creditors q the Clearing House this morning for about
- many millions-namey. the Fourth National the
Bank u New York and the Merchants Bank-all Of
which keep breksn accounts very largely and this il
one u The strAws that TO indicate what ID going
On. The members II the combination 70 make money
eight know exactly how these banks became creditors and
where the currency that circulating In Wall street
On Nsaday morning ID lying idle; and Il they and the
money lenders who have bssn connivng with them
we're licked up Tor while. instead Of their grssnbask
Is would b salusay example 70 the ssratssists Of the
Stock Exchange
There vas gathering Of stakeholder the ofcss Of
- Pasias Nall Company n moon to-day, when the
anspsctoss Of election, xessrs Billings Taylor and
Dsardslss announcsd shat several njunctons had been
sssvsd restraining them from receiving votes % The
ssesd Stock Of the company, while forbid their
holding any election The nr Of these njunctions was
usd By Judge Blatchford d the United States Circuit
ObarA The application Of Brown Brothsn Co. ".
me Paans Nah Company. the inspectors Of Election
ed NE Atlantic Mail Company ss 81. Tho second was
sraaGsd By Judge Brady Of the Court OF Common Pleas
and sasitlsd The Atlantic Mall Company Allan McLans
o. a. The third came from Judge Barnard. Of the SUI
prone Court and was entitled Bostwick Allan NcLans
~ a., and this wss the forbdding the election 70
take pacs. fourth granted By Judge McCunn, Of
ahs Superior Court By which the inspectors were for
oidlsa from preventing Brown Brothers Co from
voting upeu 20oee shares of stock standing In their
1amss In trust the being the shares held under
che agreement between the Pacific Mall and Atlantic
Nail companiea II will b seen that both sides were
suoIasd BY this shower Of orders from all the courts OF
record and she result that the inspectors Of cleo
<ies postponed proceeding with tho business before
lhsm I'll one o'clock, the interval bong employed in
censulsaton with counsel 10 the proper course 70
pursus At the expiration Of that time the counsel
On both sides had decided postpone the election. and
she inspectors thsrsupon announced adjournment 70
che l0th Of December Il noon. Meanwhile the case
MIN come before the courts for argument The oppo-
atisn ticket hss been altered b. substituting The name
q Mr. o. ". Joslyn for that Of Moses GrnnslL The
company has Just declared s regular quarterly dividend
Il shrss per csat which falls due the I'd Of Dscsm
sr but In this instance will not b paid anti aftsr
he slsotisa takes place.
/. A The commencement Of business the stock market
Was ssady the decline Of last evening. and st the
early ssoa Of the open board there was considerable
activity in Erie and Northwestern, and moderate bust
asss In the other speculative railway sharsa
New York Central sold 1t llax . llsk; Enc Tx
ny; Rock Island, ssx os,l; North western 81 s4k;
"a prsfsnsl, o3K Cleveland and Toledo 1o2K 1o2x;
Nsohigan southern, 70K; Milwaukee and ST. Paul pre-
tsrsl 81 western Union Telegraph. Az; Pasac Mail,
lA 13lK.
A NE Art regular board the sens Of the market
Grm and there fracsonal advance In portion Of
sAs isA Nsw York Central closed y lower than Il
shs sAms ums yesterday Hudson River \, Michigan
Central Y. Cleveland and Pttsburg y. Milwaukee and
d. Paul preferred X, Pacific Nail q Atlantic Mail y.
western Union Telegraph y. Northwestern was Y
higher, de-. preferred " Fort Wayne u. Government