The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-05-23
FINANCLdLd AND COMMERCIAL.

SATURDAY, My 2i-P. M.-As frequently pre-
otel IN tne,e columns since the late rise, the railway
share mlsSct finally duned extreme duilncs.
and to-day the dealings were on unusually limited
scale The experiences OF tho week. tactics OF
the cieues Of Grating Tor dec inc Identical with
those recorded In February last. subsequent to the
January advance, when the various combinations
deayorcd TO break the market aef having successfully
unloaded their stocks upon the outside public. The
operations Of the week adroily directed for the
sole purpose worrying holders Of stocks ia the hope
that they would become demOralizcd and throw
BOARD their speculative and thus enable
cl1uee to again commence an upwar movement. The
continued case In money. however and the fact that
m rty OF the leading shares Is held BY strong parte
has thus cat prevented the success Of this scheme ami
the spccu atye fever which h.s been created during
the past month has consequently stubbornly rcsstcd
aeturn to TIC old prices though the strength Of Read.
ing and thc Nande ut shares many times during the
weeS checked formidable attempts TO occasion a
pane.
the gold market was very dull during the morning
hours though the manipulatons in tnc afternoon OF
stock houses assisted oY prominent god oDcrators
attracted many spcCuatOrs who were obliged 10 watch
Their own investments. The rrice forced down
rom iiiN TO il4H, which latter inquire there
heavy transactions though It was observed that only
those connected with the Clique could purchase freely
at the lower price, This Gold Room operators we're
somewhat inystaed by the new tactics introduced and
did not actively engage In new speculative trsnsac
IONS uoluets Ol Holu PAN 4, cent 10
have thor balances carried. Tue currency balance
the Treasury the close Of business last niglt was
S0OJl00, ana the coin balance slCsOOO0O), OF which
$500 go we're IN gold certificates The total clea
at the God Exchange BanK f2O,6s COO; god bal.
onces. tsl5; and currency balances, q sos 9Oi. The
principal quotations were;
1910 A. M.....liiHi5P M....-1l4x5:9O P.MlitH bid
Foreign exchange has shown the usual duncss on
sailing Of ncrs but rates have been strong on the
bass OF ioOhaioJ1 for prime 60 days sterling. The
operations in the foreign exchange market have been
more than usually exciting for some time past, because
o. tic wait Of harmony among many Of the dealers
during the past two moaths there has been a gool
deal OF" sitting developed. the exchange arms having
freely sod their bills IN the expectation that the Sen tie
Funding bill would carry gold to par and that Govern
ment bonds would corfospondingly decline pront
ofM least iop cent. was confidently anticipated, and
consequently theT 90 days obligations not COW
eed, because OF the pIospectvey large returas. The
course OF legislation In Con the tedous de-
lays In reporting the various financial mca before
the Lower House have seriously conlicted with their
plans, and this fact will explain the scarcity OF com
meTcil bits offered IN the market at the present time
because they have been actively sought aner u
these maturing obligations. The dlscrcilt recently
cast uDon American railroad securities IN Europe
further complicated the ton OF the dealers and
great efforts being made TO break the price, until
the short interest can be covered. Those foreign ex.
change houses, however, who did into this
spccu alive pressing the shorts and the
| excitement in that market will PROBABLY take front
rank with the various departments of the stock TX,
change, OF ths Leading 1rns ranged the
| Dull or bear side Of the market,
| The Government bond market has been dun and
| quiet Al the opening, rrces were steady, but ad.
yanccd fraction at the midday call under the lrmer
iectug "a gold, The fluctuations however, have been
| within 4 Of one y cent, ana the dealings unusually
i-ht There hH'4 ho~s nut Few buyers IN ae garket,
and holders not disposed to pa with their stock.
Inc market close sIcaiS and Henry Clcws Co.. -
| wall street report at t:li r. NJ.