The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-10-12
FINANCE AND COMMERCE.,
OFFICE OF THE EVENING TELEaRApHl
T,taoAou % u


Tuesday, Oct. 10. 1859 I
With the weekly statement of our banks, which
we publish to-day, all hope of an easy MONEY mar
ket for the rest of the fall season has Vanished and
borrowers must be content with the terms which
are now current There Is very serious loss in de-
and in legal-tenders of S51550l The only offset to
this in an increase of ss7,sO6 IN the specie reserve
There Is no discussing the unfavorable features of
this exhibit, which is correct reflex of the market
from day to day, and excuses the extreme caution
which has marked the course OF the banks. The
losses they have sustained during the last two
weeks in their deposit lines border on two millions
OF dollars leaving out of the estimate previous ones
for the last two months or more. Under these
circumstances it is sseess attempting to 'bear" the
market by qualifying it as easy Currency is
and will probably continue so until the middle of
next month, when it may be expected to fOw back
through the ordinary trade channels from the West
We notice no material change in rates current
yesterday. Loans are only moderately active, either
for business or speculation.
The Gold market is free from speculative move
ment, and the premium shows little change. Sales
at the opening at 1904, closing at noon at A isoA
stion is exhibited to invest. Prices are about as
quoted yesterday.
The Stock market was excessively dull, aud prices
with few exceptions, were lower. State loans were
neglected. City skies were without change. selling
at 1O0S for the new issues with 9 bid for the old
Reading Railroad was but little sought after, and
sold at 472l cash and 4s b. o. PENNSYLVANIA Railroad
changed hands at 5619; Camden and Amboy Railroad
at 12O Lehigh Valley Railroad at 58S and Catawissa
Railroad preferred, which was steady, at S7H.
Canal shares were extremely inactive. 3414 was
Coal, Bank and Passenger Railway shares were
without Improvement. A was bid for Second and
Third A5 for Chestnut and Walnut; and SO for West
Philadelphia.
SINISTER REPORTS Perhaps it would be dlnlcut
to point out more iagrant sign of the times than
that afforded by the daily occurrence OF the fabrjca
ton OF news for the purpose OF influencing, in one
or the other sense, the "funds' and commercial
values OF this and other countries. Our readers
many of them at least, would be startled il we were
TO tell them the amount of time, trouble skill
thought, and money which is laVshed on these
connections; = plans with the most multi
neys OF almost interminable length are
undertaken, schemes the most complex and astute
devised TO meet every possible contingency and
the whole carried out with an apparent reckless dis
as if the means were the most iustdable the object
to be secured the most honorable and praiseworfbv
Does not this state OF things call for remedy? Ia II
TO be permitted that the prosperity of the public is to
be at the beck and bidding OF gang of common con-
spirators? And yet where the remedy to be fonnd9
There is very simple and indisputabe fact which
VIII convey at once to any thinking mind the urgent
necessity OF some such remedy being found ana this
necessity is 10 pe lounu IN the answer to the ques
tlon;-Who are the classes respectively Injured and
benefited by the existence of q system which is n
scandal and an outrage? SelfeVidently these man.
GuVres must result IN injury to the good, the de-
serving ana the pule-to the gallant officer, the
widow, the hardworking, the unknowing in the ways
OF the Bourse; and their continuance and spread
prove equally tnat they are to the benefit of
those who concert and carry them through-to
llose 10 whom nothing is sacred provided It
wlll serve their turn; who, regardless OF
every feeling OF humanity, reckless of how
thelr combinations may affect this community, en-
terprlse, family, or individual, see but one point;
now ial piece OF false intelligence poltical com.
pcation an appalling cOnhagration the outburst OF
some decimating disease, thrilling railway accl-
dent with terrific destruction OF material" snip
wreck with all It's details Of nameess horror, may