The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-08-25
FINANCIAL AND COMMERCIAL.

WEDNESDAY, Aug. 2t-P. M--The railway share
market has been irregular throughout the day with,
however, no special feature 10 record. The Contra
aud Hudson, Lake Shore and Rock Island were tie
chief attractions, While St. Paul, Reading. Wabash,
and Pittsburgh were at times Temporarily active
Prices were weak early in the day, though later
1rmer and better, and retaining Their strength at
the close The market Is without support from oIt-
side spectators, and the daily range Of lGc,gatis rs
Ia unusually small.
Tho gold market has been the principal feature NJ
the street, with much Gctvity and periods Of oxct,
meat recorded The stock clique alluded to this morn
inglayng for their object an advance oflhc premium
in the hope of thus cornorlng" the short interest
were quite successful to-day, aud their movements
more ully developed. The opening price was tlGl.,
but under the influence Of vigorous purchasing de.
mand, y cent. advance was noted, tiOu.h the
MARKET was run down to iis., about midday tor
the purpose Of buying the million of Govern.
ment goli at lower figures. Then lolIoAoI,
about halfpost one O'Clock, one of the most
successful movements for Z long tine attempted in
the Gold Room. Runor4 were freely circulated
that the Secretary OF the Treasury Lad not onl a..
coptod of TIE two millions bid Tor, but would also
sell ten millions extra for the purpose Of preventing
a further advance. The stock clique referred to
then commenced selling heavily, but it was observed
that only certain parties could make purchases,
while the clique ri the sane time, through other
brokers, bought all that the market oneret. In this
way the price declined to liGss, although there
were few sales at this price, and only two recorded
transactions were made as low as ll6H. Having
accom- pshcl their purpose, which was 10 create
further scrt interest prices subsequently rallied 20
Ii1s,, and the Gold Room operators learned that
they had beon subjected to irste,ass scare, as well
as the fasity OF the report about Mr.. Boutwelrs
programme. There IL large uncovered shor in
terest In the market aud the German bankers who
have for some time been selling short, will find OK
IRENE dilicuty in cscapn without loss unless "A
decisive victory Of the RUSSIANS Is soon announced
The decline Of Government bonds In London also
impaired strength TO the market, and gave a better
tone to The market
In tic gold loan market the rates paid for carving
were = ], and Z cent, and fiat for borrowing.
The specie shipments were Sl2J0 by the Nevada,
and Sl,b,sGO hy tie Abyssinia a total OF SJIg,StD
The total CeaIlngs at the Gold Exchange Bank wClC
tOG,1sOU, gold balances SiO93,737, and currency
balances Sl,3G353. The Drincpal quotations were
10 4. ~ .."."lG& ls1P. M...llGE tP. M........llie
\ ~ ...""ii!sSP M,u".,lliI5 r.M".....ll;i.
Al the sale Of one million gold by the Treasury,
bids were flied 10 ne amount OF S2050 OV) Il prices
at ni19k TO III II, Foreign exchange has bee dull
but strong, tho le ding drawers having advanced
their rates =. II cent The business - confined
chyhy 20 sterling, which is quoted AZ Ogl.IlugJ.
for 60 days, 1000 llot for sight, and iOo4N1k ior
c1muisl ,al.
the money market has been without essential
Change. the supply being ample 70 meet the demand