The New York herald., 1870-01-10

FINANCIAL and COMMERCIAL.
WALL STREET.

49, Mf#4MNt fNf N.Y.,
HtM SUNDAY, JAM 0--U +. M.
The various Wall street markets underwent
rather sudden transition during the week from dnl
ness and heaviness to actiyity and Strength. The
speculative combinations which have remained CON-
paratvelv llie since tue Septe nDer panic seem 10
have entered the neld for ''bunp campaign ana
snort as mas Deen their movement II has been de.
o. .Icdy successful In cnecting marked advance IN
prices
rHs MosRY MARKET
has changed to suit their picns, the expectations OF
ease as tie eek progressed being quite satisfactorily
iudiled At the opening the rate on call
retained the stringent features OF the pre-
viou8 week, when the various dividend paying
institutions withdrew large OF money fr0li tic
street. but gradually relaxed as the money SO dis
bnrsed found Its way back INTO bank until ut the
close borrowers ON prime collatcras were accommo-
dated at six per cent. Indeed the tendency OF the
markc4 under the accumulation OF funds at this cen
tire Tor the interval to the spring months aud which
Is reflected IN the weekly statement OF the associated
banks IL u still greater ease ana gives rise to tho
impression that the rate on cai will descend i've
and even four per cent, should no unlocked
Tor cause Of activity interrupt meantime.
Capital ut this season Ia inactive. Mnh the
approach OF January I there Is general
winding up VI business and a suspension OF opera
ti0ns III The ordinary channels OF enterprise The
money mus Withdrawn finds its way To the metrop0-
lis Tor employ ment on cali, our busy mart being
always rclny TO use It In Wa. street or elsewhere.
IL Is only uron the spring opening OF business that
" begins TO leave Us again, tie country banks
which originally sent 1t being then tho drawers. The
marketfor commercial paper has been steady, but
hardly lower, the relaxation on call being too fresh
as yet to influence reduction rates. but doubt
ine,s IN
Of the compe ition OF the country banks who4e WIN
ter deposits tn,s class OF uvesment. The io.-
elgn exchanges have Deen firm on q moae 'ate
amount OF business, and despite the better supply
OF commercial bills arising OF the higher price
OF guid.'
..N THE GOLD MARKET. Ns \
Tho "bullish" speculation was very perccptible In
the God Hoon, where the operations have been ON "a
largely increased scale, the cearances or Saturday
exceeding Ss5,o0o,000 Tue upward movement Is
the result OF a strong speculative combination VINO
entered tho lists ON the expected inability ana lack
ol intention Oh the part OF the government TO N.
crease Its gold sales until the Treasury balances is
better fortified. Tue elect was an advance In the
whoe Tom il99s TO 1885,, the latter point being
attained on Saturday morning before tho intel,-
gence was received that the government contem.
plated an extra sale VI over million and hal on
Monday the coin to be spo ed OF consisting OF the
accrued interest on the bonds purchased Dy AIRY
Boutwell, for account of the sinking and special
funds. This news demoralized the SPECTATORS, and
there was rush TO sell. under which the price
declined to l2lts, Closing finally at l2lS. The
ciques seem to nave lost courage over this direr-
Nssene1lt OF the Treasury aud The market became
teverisn and waverlng and probably viii remain SO
until after the sae on Monday, and perhap6 unt,iIt
Is definitely ascertaned that the sovernnent WI
not further disturb the January programfae. The
The table,