The New York herald., 1869-09-07
FINANCIAL AND CONNER ClAL.
MONDAY. Sept. Cd q M

MONDAY Sept. 60 o. M
The activity and excitement which set IN las,
week in the Gold Room became moe widespread
60 day, and the Stock Exchange Participated in the
ferment, which seems to have oeen engendered by
the gold spectators ana threatens to visit all
branches of business in Wall street. The animation
OF the forenoon was brought about by direct re-
Rewal OF the 'bull" movement in gold, under which
the price was carried TO I37A. AT the same timo
the general situation was invaded by appre-
tensions arising out OF the bad news from
the Paris Bourse, where rentes went down
50 o0.s5 and great excitement prevailed.
Indeed one despatch announced that the presiding
ccer Of the Bourse found 1t necessary TO state pub
icly that the health OF the Emperor was ''satisfac
tory" upon which there was recovery In prices,
but with continued uneasiness. Use OF this intelli.
gence was made by the bulls" and large numbers
Of the "shorsi were frightened into covering. Soon
after midday prominent nrm threw two millions OF
gold upon the market and the price broke almost
instantly to 1864. When they ceased selling the
operation requiring only a few minutes, there was
an immediate return OF the price to 137I the
great gulf Of the ''bur' speculation seeming
to close over and bury out Of sight this
latest EFFORT OF the "Dears." It was reported,
however, that these sales were but repetition OF
the trick OF Saturday. when several large firms
betrayed into going short for large sums On their
own account. because they had received orders
from the "bulls' to sell, and suspected the move
ment OF the latter had eliminated The 'bulls''
smile at the agony OF the 'Dears and threaten that
when they can longer put up the price they will
advance the borrowing rate to figures which will
force the shorts to cover 1t remains to be seen how
Ear they will be successful In thus controlling the
market Indeed, many suspect that they have
already commenced to unload. The trick OF giving
orders to brokers to sell VIII be repeated. perhaps,
until the street gets used to 10 and dscredlts every
time that 1t is the beginning OF the unloading.
Then the clique will really unload and the street will
give no heed TO the oft-repeated cry OF "wolfW AS
10 the story that the government will help the gam
greenback clamor OF the West. it Is Of the same
tissue all the stories started in the Gold Room. IL
may may not be true The chques may ''corner'i
gold for few weeks; but the merchants have no
need OF it, as they have ought to have closed out
their debts on imports long ago, and hence the
only legitimate demand for IL is gone. The balance
OF trade very slightly aganss US, so much so that
when we come TO export our cotton and grain we
shall have to import gold in payne for them. The
cause the ''bears' are numerous and thereby
create an unhealthy and unnatural demand for the
metal. They are forcing the price to good point
from which to drop. Then they Will themselves turn
"bears," aud an avalanche Of sales will carry gold
below $50. Meantime we must take the situation as
we find it, and 1t is certainly very nattering to the
skill and boldness OF the ''bullsn The range OF the
price Ia shown in the tablet