The New York herald., 1870-12-19
FINANCIAL and COMMERCIAL.
WALL STREET,
SUNDAY, Dec. Is, 1870.

| dry goods houses were occupied In replenshing
small assortments OF stocks for out or town Dealers
VINO nave been doing rather better, owing TO the
temporarily active retail business this season; but
| no large lots were ordered. The cold weather.
In coming so late seems TO have de-
ferred activity In woolen cloths, as II tho
public who deal with the retail cothiers
had made up their mind TO piece out the balance or
the winter with last years garments. Household
woolen goods have been in fair demand In gro
ceries the trade has been good. In cotton and
wheat results have been very unsatisfactory, and for
very curious reason. Cotton was heavy because
OF lear In Liverpool that the war on the Continent
Is going to be prolonged, and prices have steadily
faIen On the other hand wheat was inactive,
although steady In price, the dulness being
| due TO fear In Liverpool that the war is
not going to be prolonged. In other words, the
cotton manufacturers are unwilling TO order largely
because the war may continue and bring depression
| In the trade, while the nour and wheat merchants
are unable 10 descry the future and dread to lay In
heavy stocks lest the war should suddenly cease and
| leave them overstocRed Thus two OF the most i'm
porant ARTICLES oil foreign exports are subjected
| TO an uncertainty which checks the demand FOR
them. The Up town trade Is brisk, and most OF the
retailers are dong good business as ever trans
acted AZ this season OF the year.
Tux WEEK IN WALL STREET.
| Looking at Wall street simply in It's legitimate
character OF place OF the purchase ana sale OF secu-
rifles on commission, the week has been very re-
muneratgve one 10 the brokers, whose business was
largely augmented by very active decline In the
stock market. The storm so long brewing burst in
great fury on Thursday last when the ..bear"
cliaues, who have been the most active ope-
rators OF the street since the advent OF the
European war; brought their long siege 10 concu.
sion by sharp and brilliant attack upon the 'bull''
side Of the market They had fcnted and ma
nGuyred for several months with anything but
gratifying results. Weared OF their long exertions
they compressed their powers into single blow
and made raid on the money market, which they
rendered exceedingly stringent and forced decline
ranging from to q per cent In one instance the
fall In price-taking the highest ana lowest
| quotations OF the wee&-was Just 6l per cent. In
another instance while the ..b1lsr supported the
stock particularly the price advanced IN the midst
or the general decline ana the highest 1t has
| attained for many months. The efforts made and
the means employed by the cllques engaged In this
onslaught upon the market are, perhaps,
| the most exhaustive on record Money
| to the extent Of s5o0ocOo was locked up
| and one OF the banks unwittngly made their too.
Defamatory circulars were printed and distributed
to the public. One Congressman was supplied with
this circular and with propositions Congressional
enacments calculated TO frighten holders Of stocks.
| Another Congressman was induced to revive the
| question OF the tax on the scrip dividend of New
! York Central, with a view TO add to the general
CONSERVATION. Not, or course, that the
| tax Is not justly due TO the United
States but the revival OF the subject originated not
In any love OF justice, but through speculative de-
| signs in Wall street. They also impugned the in
tegrty OF one of the most reputable or our trust
companies. The attack was. moreover. the last re-
sort OF the "bear'i ciques, VINO were afraid TO re-
| main short OF stocks the of
disbursements OF Interest, which, other things being
| equal are likely to lead to u grand Hood tide in
| prices, which would engull and ruin the "bearsn
In one respect the present season is lust
like the corresponding season 1863 In
| November OF that year the same locking
| up OF money was resorted TO by the bear cliques
and almost the same parties soEcelned. The
time was about montb ca rlier only. Daniel Drew,
who had quarreled with his conirtres In The Eric
| combination, went short OF Erle upon when the
Fisk-Gould party made "corneIr tnat cost Mr.
Drew, according TO street rumor, al least two mil
lions OF dollars loss. The gentleman Is now re-
puted to be the leader Of the ''bears,n and to
be snort OF stock 10 the extent OF many
millions. His leading antagonist IS reported 10 DO
Commodore Vanderbilt who has an old grudge
to settle, and VINO desires nothing more delicious
than the opportunity to "twistn his od opponent,
who sold him Erie as fast as the presses would pgnt
it-in the days before stock was registered.
The government market was strong On a specua-
tive movement, which was arrested by the excite
ment ana decline In the stock market.
Money was exceedingly irregular. In the begin
ming OF the week the rate on cali ranged from fiye
to seven per cent. On Thursday 1t opened at seven
per cent and advanced to 4 4 rer cent a day.
ON Friday it opened at y 4 per cent day, ana
relaxed to seven per cent. On Saturday it opened
at 1-16 y per cent day ana relaxed to IA per
cent. At this juncture STOCKS suddenly improved
La per cent.
Gold was unsettled within narrow limts-vz.,
between 110h aud n. 1t advanced to the latter
quotation on the fear OF fresh complications arising
out OF the Luxembourg question, but eventually ell
back to nearly the lowest price of the week.
THE BANK STATEMENT.
Contrary general expectation the bank state
ment proved very favorable, the net or surplus re-
serve having been augmented over million dollars
by the banking movement OF the week, The loss or
legal tenders attributed to the Withdrawal OF money
for speculative purposes has been more than over
come by gain in specie. The statement contrasts
with its predecessor as follows:-
r. soes Dsc e. 10 90 soe Pee &c. ~ G;o ~ Gnanges
Circulation. s2ls5a.7 s2,l54,s5s Dec. ai,iIe
Legal tend'r. 40,I2iO22 47,442 o8o Dec. l,6si sl2
LATEST PRICES or GOVERNMENTS.
The government market was lavorably affected by
the relaxation in money, and prices advanced and
closed steady, II not firm, as ioows:-United States
currency skies, l09zs a 10; United States sXes,
1881, registered, 1o9s 10; do. do, coupon, 113
49,; do. ive-twentes, registered, May and Novem-
ber, io71S 1879; do. do 1852, coupon, do 1875
l07A; do. do, 1854 do. do, 1919 lo73S; do. do,
1865, do. do, 1914 1915; do. do registered. jan
uary and July, 1868 1868; do do 1865, coupon,
| do, 1895 lo9A; do. do, 1887 do. do. looM
ITO; do. do 1868 do. do. Il0is l1051; do. ten-ior
ties, registered, 1861 l0eiS; do do coupon Io6A
1861.
CLOSING PRICES AT THE STOCK EXCHANGE.
The following were the closing prices at the last
| session OF the Stock Exchange:-Canton Company,
Ga a Gfl<. CnnhnrIand Iron oh hid. Wnsfnrn unInn