Evening star. [volume] (Washington, D.C.) 1854-1972, 1870-08-09
Speedy Ending Of the War Expected.


Ii will be seem by our kilograms that in Eu-
ropean financial circles speedy end to the war
is augured from the Prussian victories. The
busineFs men of New York take the same view
of il, as will be seen by the following from the
New York Express Of last evening
'' In Wall street to-day the Prussisn victory
had a marked effect upon the course OF specu-
latiOn, and was the all-abSOr bling topic OF con-
versation. The fall in gold and the rise in bonds
caused some surprise, as q very large number OF
Spectators were operating on the theory that a
great battle between the cOntending parties
would Eean a long war, and, therefore. gold
would rise and securities fall. The course OF
the markets, on the result OF the first great
battle, may need some explanation TO those of
our readers who are taking their summer vaca-
fiOn- The German community in Wall street
as general thing, or at least that portion
which Is moving actively in the market
means either the Intervention OF Russia or
England, or the expulsion OF the Bonaparte
family from France and the placing of Bour-
ton on the throne by an internal revolution, or
possibly the establishment OF a Republic. In
either of these contingencies the Germans be-
heye that the war viii be brought to an early
close This view OF the case causes them 70 vent
their enthusiasm IN the selling OF gold and the
buying OF bonds Opposed 10 this German view
Of the question is the American idea of the stu
alton il Europe. The Americans in Wall street
az a rule believe that the Prussian victory
means the prolongaticn OF the war. Their
basis for this theory is the fact that Ma
breach and il virtually lighting to unit, the
French people and place his son on the throne.
The Americans argue that II Napoleon had
gained the first victory he could afford to have
been magDanimous and otfer red terms 10 Prussia
which would have ended the war and accom-
plished his desired objects; but having been
defeated and having about million of men in
the held, Lac must hight TO the bitter end in order
70 save his dynaSty. In this view Of the situation
the American portion OF Wall street generally
believe III a rise of gold and fall in bonds.
Thus the public has an inferior view of tie sit
uatIOn III the Gold boOIn and Oh the Stock Ex-
change
The operations Of the Germans in this m market
are on a greater scale OF magnitude than those
OF the Americans, and these operation, are con-
ducted with much boldness; consequently in
Wall street to-day, a. on " edncsdsy and Satar-
day, the victory was with the Germans.
The speculative interest in Wall Street CEN
tered chiefly in the Gold Room, where con-
siderable excitement prevailed. with a large
bpsinSss and wide fluctuations. The Prussian
victory caused free sales On the part of the Ger
mans, and many weak spectators were fOsced
TO follow suit This sent the price of gold Keeling
dOwnwards, and il took further plunge when il
was announced that bends were sJ4 TO Sc !. in
Loncon and IS TO s. y in Frankfort. The market
opened on the street at an early hour and the
trst Gales were at len = but the price quickly
declined to il9H, and almost immediately raj
lied TO llSis where IL remained q short time.
IL was not lOrg, however, before gold was offered
by the millions, and the price tumbled II IIsl,
AT the formal opening of the board the first
recorded sale was At ll9, but this was followed
by a decline to llsE and a subsequent ri.e to
1l9S- After this the market hung around
1l3S 70 ll9k for some time, but finally Tell to
Jle1 the lowest point of the day. The rates
Kaid for carrying were 70 per cent.
The government bond market was next In
importance to the gold market At the opening
the Germans were liberal BUYERS. and prices
advanced, ls6.s selling up to l09.. After
wards the market reacted under realiZ ations,
but finally recovered to the highest isdrcs OF
the day.