The New York herald., 1870-05-10
FINANCIAL and COMMERCIAL.

W WALL STREET, I
r. MONDAY, May e-8P. M.
The members Of the stock Exchange held their
ANNUAL ELECTION
to-day for officers of the board. The polls were open
from ten A. NJ to two p. NJ, during which time there
was an active canvass the part OF the friends OF
the rival tickets, known as the REGULAR and 'oppo
stion." The ballots were 80 scratched that the full
results not yet known, the inspectors having ad-
journed without completing the count Of the votes
for the governing committee, but the full result will
be known and announced tomorrow. At the ad-
ournment Of the session Of the inspectors the vote
had been canvassed for oil the officers except the
governing committee. The total votes cast were 1885,
resulting In the choice OF the "opposition" candi-
dates following at sI ff
Presfdent-William Seymour.
First Vtce Presfdent-M A. Wheelock.
SECOND Vice FTeStdent--James Mitchell.
Iredsarer-D. y. Hays,
The name OF Mr.. wheelock was on both tickets.
That gentleman Is therefore unanimously reelected
10 the position which he has so long popularity 0ccu-
pied.
THE MONEY MARKET.
The feature on which hinges the present active
speculation at the Stock Exchange is the continued
great ease in the money market. The banks ale
overwhelmed with deposits OF national bank notes.
rejecting the flow OF money from the country TO the
metropolis which Is the only place where 1t can now
be employed at interest. To-day Il was almost a
drug, and the banks, in their desire to utilize the
large balances now on deposit with them,
were Offering these notes. free OF interest, for
i've 10 ten days, on condition that the equivalent
should be returned in greenbacks The leading
government dealers were accommodated call at
three to four per cent and the stock houses at five
per cent The increased values at the Stock Exchange
and the enlarged volume of business seem inca
pabe of keeping up with the supply Of money avail
able for call loans. The plethora Of money In the
city has seldom been equalled, and inspired new
courage on the part Of certain operators who hesi
tated about purchasing at the present advanced
prices. In the discount market the lowering of the
rate on call led to more currency for paper, and
prime double acceptances were readily salable at
six to seven per cent The season of the year Is not
favorable to an abundant supply Of paper and hence
the demand has not much Of stock to select from.
Foreign exchange was firm, on the basis of 109k q
1o97s for prime bankers sixty day sterling, and
109zs 110 for sight bills
THE GOLD MARKET DULL.
The Gold Room exhibited still more visibly the
cessation of the speculative feeling rather the
diversion Of 1t to other fields of operation. Under
revival Of the Funding bill story the price declined
TO 114ii, the highest price having been 114yS, which
was the answer TO the continued 1rmness Of the
foreign exchange market On the intelligence that
Congress had adjourned the day without touch
ing the Funding Dill the price reacted to 1144, the
market closing steady and dull. The absence OF
speculative feeling further shown in the carry.
ing rate which was parallel with the rate for money
in the open market. The course Of the price Is
shown In the following table,