The New York herald., 1869-12-07
FINANCIAL AND COMMERC GAL.

ness tnls morning was almost wholly concentrated
upon the gold Market where, despite the opposition
of the "bears," the price was run up from 122x TO
1884, The strength put forth on either side not
OF adecided character. both parties seeming desr-
Gus OF waiting for the Presidents Message and the
reports OF his Cabinet officers The earliest tee-
grams from Washington were very positive In pre-
dieting that there would be no quorum OF Congress.
owing TO The detention or members by tho storm.
This intelligence was succeeded by the heavy snow
storm here and many OF the chief operators left the
street and went home, 80 that the subsequent publi
cation Of the tenor or the Message and reports fell
upon thin market The announcement OF the
Presidents position on the question OF resumption
turned the speculative feeling IN the Gold Room,
though for wnat reason 1t Is dicuIt to conjecture,
as Ills plan OF grauual approach to specie
Is exactly the policy which the gold "bulls'' would
have him pursue. Every business man In the coun-
try VIII read with profound satisfaction the
Recommendation Of General Grant on this TIM
portant subject. His clear, common sense
view OF the situation is In keeping with
the man. and VIII render him popular
with the entire mercantile community. The cliques
In Wall street can derive little comfort from what
he proposes. In fact, the hating speculation IN
gold to-day was the result Of second sober thought
on che part of the same parties who began last week
TO lay their plans for bold movement. Alter tho
price had been pushed TO l23s tney seemed to lack
the courage OF sustaining the effort especially as
their numbers were already thinned by the storm
1t Ii true the subsequent decline to 122S was par
TALLY the result OF. the advance OF our
bonds n London, which had the effect
| OF weakening exchange but the fact remains
that the ciiques were nonplussed at the
situation, and after making rather brilliant sore,
have fallen back for council Of war; The money
market was easy at seven per cent to borrowers on
call with pledge OF stock coIlateras but In most In
stances the leading government dealers were &C
commodated at six. There Is very little anxiety as
to the immediate future Of the money market. and
the impression seems general that at THIS late
son, when the cotton crop has taken all the money
that is necessary to It's movement and with little or
no demand from the West, the local supply WILL be
more than ample for the balance OF the winter In
commercial paper there was no change despite the
announcement of the suspension of q couple Of dry
goods jobbing houses.
The stock market was strong at the opening, and
prices were generally In ADVANCE OF the closing quo
tatons OF Saturday. Toward noon 1t became weak
ana fell OF at the last board, In sympathy with the
decline In gold The fluctuations were not wide, as
the market has ranged Of late days, and were made
upon limited amount Of business, the chief opera
tors seeming to await the effect OF the Congressional
documents. The dealings after the board showed an
Improvement and the latest prices In the Long
Room were almost up to the best OF the day for the
leading speculative iavortes In the railways there
was a spirited "pear attack on Lake Shore and the
price went or TO $685. the other western shares going
OF at the same time. In Chicago and Alton there
was sharp decline to 141 the stock being under the
manipulation Of parties coming from st. Louis. In
the miscellaneous list pcclc Mail was feverish and
after falling to 491S rallied to 5O%. The announce
ment Of semi-annual dividend Of only two per
~vrrxa nfFao th
.Inside" party who managed to work the stock up
to As last spring by quarterly dividend Of the same
figure are on the outside ana would like to get
the stock back again, OF which they are, further
more, reported to be largely short.
The government market was excited, particularly
at the board, in consequence OF an advance Of
one to one and half per cent in the London quota
tions Of this morning as compared with Saturday.
The foreign bankers were large buyers on foreign
account, which fact and the simultaneous advance
in gold led TO sales of 67s at rs high
as 1lsH In the subsequent transactions at
the board. as well as on the street, the
market lost its strength and yielded to
the following closing prices:-United States cur
rency sxes 1878 1o75S; do. skies, 1881. regis
tefed, 113 1l34; do, coupon, 1l75s 1885; do,
ive-twentes, registered, May and November, 1925
1925; do, 1862 coupon, do I154 1161s; do, 1864
coupon, do, I12H o 112A; do, 1885, coupon, do.
11sl4 1l3A; do, registered. January and July, Ill
a nix; do, 1865. coupon do, 1851 1855; do.
1867, coupon, d. 1l55s l15'1; do. 1858. coupon,
do, 1855 115h; do. ten-iorties, registered los
1osh; do. coupon, 10SA 109
The making OF bills against the bonds purchased
for export by the foreign bankers weakened the
foreign exchanges, while the strength OF tle gold
market in the earlier hours OF business checked the
usual demand from the importers.
The Southern State bonds were feverlsh and
irregular In the Tennessees, which opened heavy
and weak, and after declining to 40A for the new
issues, rallied to 42H for the same securities. The
North Carolinas were frmer and advanced half to
one per cent The general list was steady and dull.
The following were the closing prices OF stocks Mt
the last session OF the Stock Exchange:-Can-
ton, so 5oys; Cumberland, 2i1l 20; Western
Union, 34gs IS; Quicksilver, IL l5j4; MarIposa
tx a 81; do. preferred, Is 1914; Pacific
Mail. 5oIk a 50A; Boston Water Power, 1S,k o Is;
Adams Express, 575s q IS; Weiis-Fargo Express,
IS 1sA; American Express, 80 394;
United States Express. 81 So; New YorA
Central consolidated, s0% a 901s; do. scrip Slfs
81; Harlem, $50 bid; Erie, 261z 27 Reading, o996
99A; Michigan Central 1904 bid; Lake
shore, S52. S5Js; Illinois Central, 1S41s bid;
Cleveland and Plttsburg, s2a 49, Chicago and
Northwestern, "A AZ; do preferred ss7S ss&;
Cleveland, Columbus and Cincinnati 741.; Rock
Island, lo7a a 1913; Milwaukee and st. Paul, 70 a
70I6; do. preferred. siss s45l; Toledo and Wabash
55h 81; do preferred, " a 75; Fort Wayne, se14
81; Alton and Terre Haute 271a do preferred, 5S;
Ohio and Mississippi, 25,l 25sS; New Jersey Cen
tral, sSa sst5 Chicago aud Alton ls9 1il1S; do.
preferred 1877 142; Morris and Essex SIX IS; Co.
lumbus Chicago aud Indiana Central, 2l1. 20.
The following shows the range OF the principal
stocks to-day
highest. Loseest.
New York Cen. and Hud. conso. 81 s9S
New York Gen. and Hud. scrip. 80 Slii
Harlem ................ I33 1a0
Erie .,.......................... ~ 26k
Readnu .......,....,....., pgls NSTs
xo..&o 80 - cat 20
LAKE Snure.. ....''''.'''''''''''''' so9 e5ss
northwestern. .......,.......'..'' % 73A
Northwestern pfeiefreo' o'''''''''''' ~ sSil