The New York herald., 1870-11-14

by which the cques will reap enormous profits in
the frequent fluctuations which must ensue as the
market declines. The extreme fluctuations daily In
the price Of gold during the week were Us follows
Highest Losoest.
Mou lay. ay......................... 1l0I Il0%
luesuay ........................ llOI 1lO5a
"Wednesday. day..................... l1O2s ll0S
InurSuly.. ACKNOWLEDGEMENTS. ll05s 1l01s
triuay .......................... 1ln 1l04
SATURDAY day........................ 1lla 1l05a
THE MONEY MARKET.
The predictions OF an easy money market which
have been so often made In this column bid fair to
be fully realized this winter. The fall has passed
without sringency, and the only rates In excess Of
seven per cent were but temporary and artificial.
During the week the highest rate on call was
six per cent and that became exceptional to-
ward the close. On Saturday the majority OF
loans were made at four and five per cent,
while the government houses were literally
supplied at three per cent Thu domestic ex-
changes favor this city and promise steady move
ment of currency in this direction the balance OF the
winter. The war III Europe brought the western
and Southern merchants into our market early this
fall, and hence In paying for the crops cotton and
wheat we have had only to return them their paper.
The low rates on call are diverting capital into
prime mercantile notes, which are scarce and IN
demand at an average Of about III per cent dis
count.
"
closed quiet on the basis OF 1922 lO9a for prime
bankers sixty day sterling, and 1895 1Oe4 for
sight bills
THE BANK STATEMENT
The weekly statement OF the associated banks very
favorable for while they have lost only $l87 232 in
legal tenders they have gained S. 224 in specie
The decrease In legal tenders Is understood,
less the hypothesis that money has gone Cincin-
natl for pork packing operations the movement with
fhnrp pnfu aip Int
foreseeing easy money this winter, extending
their accommodations to borrowers, and the item OF
| loans shows generous expansion. The statement
contrasts with Its predecessor as follows:-
Loans. s26a, oos $685. l7e 1868 Inc ST. ss2 400
srcasio ssss s7ssss ss7ssss s ns sss
Deposits. 194, ,769,7l6 1856 62O 937 Inc. $751; 22I
Legal rnd's 53,999,251 5s.s32019 Dec. 167,232
The gain in surplus is l,593 544, and the
banks now hold $la,7 1856 above the reserve re-
CURED by law.
THE STOCK MARKET.
The clIqucs held the stock market firmly during
the duness arising the fear Of trouble on cleo.
tion day. and In the period OF buoyancy which re-
suited from the passage Of the without disor-
der began to unload, and have since manipulated
the market with short ''turns" The short interest
was largely covered and left them without that i'm
portant element OF strength In making further up
ward movement. The plan OF brilliant winter
campaign has not been abandoned On the con-
trary, the ciques are operating now to
get their stocks back and at the same
time provoke a fresh short interest. In
furtherance OF this they '.nilkng" the street,
rendering the market alternately weak and strong
and throwing cloak over their real designs.
sudden decline OF a half to one per cent may be
produced at any moment in order to cOnsummate
their scheme. It is healthy sign of the outside
speculation that the public when disposed to In
vest, c0nine their dealings to the first class divi-
dendpaylng stocks, which are being gradually
absorbed by capitalists and will thus protect their
holders from loss by clique manipulations.
THE GOVERNMENT MARKET.
Government bonds 1uctuated IN sympathy with
the foreign market and were weak IN the 62's,
which, being largely held abroad, now suffering
from competition with the new French loan. The
other issues were steady the rise in gold counter
balancing the lower quotations in London.
The final street prices Saturday night were
as follows:-United States currency skies, 11lH
q 1117l; do, 1881, registered, 1l37S 1l3S; do.
do, coupon 113ss 113&; do iye-twenties, regis
tered, May and November, 107 q 1914; DO do,
1862, coupon, do, 10S q 1854; do. dO 1864, dc.
do, 10714 1073s; do. do, 1868, 1919 1915 do
do, registered, January and July. 1O91s 1O99i do
do, 1855, coupon, do 1O9H 109I; do. do, 1851,
do. do 1925 109sl; do. do, 1868, do do, 1897
ITO; do. tenores registered 1861 1865; do. do,
coupon, 1868 q 1868.
SOUTHERN SECURITIES.
There has been decided revival OF speculation in
the Southern State bonds and general advance in
prices. The peace proclamation OF Governor Holden
produced q buoyant tone in the North Caroitnas,
the Old bonds rising to 49,. The triumph OF the
present administration Of South Carolina the
cent election has provoked advance in the bonds
OF that State which had been depressed by specua-
| tive sales by parties who were anxious TO make
political capital against the State authorities. The
Missouris ana Alabamas shared the general improve
| ment
CLOSING PRICES AT THE STOCK EXCHANGE
The following were the closing prices ut the last
| session o. the Stock Exchange:-Canten Company,
so 10; Western Union, 417s 41ss; Quicksilver, 8
bid; Mariposa, 6A TX; do. preferred, 1o1a 1917;
| Boston Water Power, 1874 bid; Adams Express,
s7sl es; WellsFargo Express "a So; do.
! SCRIP, ~ 2zS; American Express 4e2 United
! states Express, s3ts a 347s; Pacific Mail, AZ q
| 424; New York Central consolidated, s21s q
| s25s; do. scrip, s77: s7,1; Erie, 2S 2sh;
| do, preferred. 4sA; Harlem, 1s3 a 136; Reading,
l01A 1917; Michigan Central, l2OA 121;
Lake Shore, o3z 931s; Union Pacific, 23H 23a4;
Illinois Central 1877 1917; Cleveland and Pitsburg,
l06A bid; Chicago and Northwestern, 79x so;
do. preferred, 90 sol; Cleveland, Columbus, Gin
cinnau and Indianapolis, so1s q Soa4; New Jersey
Central, 1904 1ooH; Rsck Island, 11a 1l8,s; Mil
waukee aud 81. Paul. 90 cox; DO preferrsd. 80