The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-30
FINANCIAL AND COMMERCIAL.

The features OF operations ia Wall street to-day
were decline In gold 10 1881 ana turther iall In
government bonds. the issues OF 1857 sellng as low
as 1853. At time IN the forenoon panic In
both markets seemed imminent, and visions OF a
return to specie payments began to noat before the
eyes OF those who happened to be on the bull side OF
the gold speculation. There Is no possibility too i'm
probable in the mind OF Spectator when the mar
ket goes against him. His fancy conjures up the
worst that happen, and In the fear OF that worst
he becomes panlc-stricEen. The fact has been made
manifest that there IS bear movement LII gold
which dates its inception back to last week, when
a prominent operator boldly bid for and bought
In one lot all the government gold offered
on one day. The price was then put up 10
I3lT, and many induced TO purchase
through an apprehension that what then seemed
the beginning OF q bun movement might create a
still higher price, The gold cliques have always
mystihed the street. When buying openly they were
credited with really selling a larger amount. But
the street found that they had practised TINS strata
gem 40 often and 80 successfully that they inter-
preted II wrongly the other day and bought GOLD
when the cliques were secretly selling Hence when
within the past few Gays the actual state OF affairs
became known there was general pressure to sell,
and everybody is short OF gold, under the impress
sion that the price must decline TO l25 before great
while eapses. Indeed. in the excitement this morn
Ing those whose fears were aroused by their Ill luck
In being the 'bullv side began to seriously
regard specie payment as q matter not very far OF
In the future, and holders OF gold and holders OF
government bonds FASTENED to dispose OF their
Investments They also went ''snort' TO a large
extent; for IN this way only con account be made
for the high rates for borrowing gold when the Trea
sury disbursements OF the precious metal are
SO large every day The effect OF these sales
rrlei
gold back to 1885 and the sixty-sevens to l1o1s.
There Is some little curiosity manifested as to the
Treasury programme for November but doubtless
nothing will he made public until Sunday night,
when chance favors Mr.. Boutwell, with the opportu-
nifty OF giving 1t TO the press on dies non in plness.
The money market was easy to-day, with plentiful
supply to the government houses at four per cent.
On stocks rates were more irregular and ranged
from Six TO seven per cent. In discounts there
little doing and that at formerly quoted rates. the
government sold million OF gold to-day ss95,ooo OF
which brought 1851, and $1,000. 1858.
A motion VIII soon DO made In the Supreme Court
30 vacate the recevershp Of the Gold Exchange Bank
and restore the institution to the control or the
stockholders. An effort will then be made by the
latter to secure a return OF the patronage OF the
Gold Board with view to the resumption OF Clear
ing House operations As the committee OF the
Exchange have remained silent since their appoint
ment, it IS conectured that they have been unable
TO discover any better way Of making cearances
than through the Gold Bank, and hence the vaca-
ton OF the receivershp will report IN favor OF the
old system.
In the stock market there feverish feeling
simultaneously with the decline in gold and govern
ments. and prices lost all that they had gained In
the recovery the evening previous, of the list
even going below the lowest prices Of Thursday.
Just as before an advance in the Vanderbilt stocks
occasoned rally OF the whole list, and prices not
only became better but firm at the close. There
were no decided features otherwise in the market.
The amount Of business was below the average.
The following were the closing prices Of stocks at
the last session OF the Stock Exchange:-Can
SIX So: Cumberland 27X 2sh; Western Union,
s6a< 81; Quicksilver, 1871 1a>s; Mariposa So;
preferred. lsh 1871; Pacific Mall 5sA $50;
Boston Water Power, 1875 lax; Adams Express
81 65N; w lsFarQo Express, 1919 2o4; American
Express. SAY 3a; United States Express, 57h
bid; Merchants Union, 95s bid; New York Central,
1sOk 1905; Erie 29a& 3oA; do. preferred SO So;
Hudson River, 1T3 ia; Harlem, TAI a IA; Read
Ing, 90 96i4 Lake Shore, 91Ia 9l3.; Illinois
Central. 1877 139; Cleveland and Pittsburg, s5A a
s6k; Chicago and Northwestern. 692s 70; do. pre-
Ierred, S37I q 81; Cleveland, Columbus and Gin
cinnatl, TX bid; Rock Island 1895 1857;
Milwaukee and St Paul, 81 a 67k; do. preferred,
70x 799l; Toledo and wabash, 63ls bid; Fort
wayne So. bid; Alton and Terre Haute, u so; do.
preferred IS 81; Ohio and Mississippi. 2eA 265s;
Delaware and Lackawanna, III bid; New Jersey
Central, 9Aa o 90; Chicago and Alton l42 a l43Is;
40. preferred 1929 bd Morris and Essex. s794 bid;
Hannibal and st. Joseph, 1oSH 100; do. preferred
1osH a loss; Columbus, Chicago and Indiana Gen.
trail, FAX bid. The range OF the leading stocks is
t, tha oh