The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-08-22

I
lators became more confused az the course Of prices
than even the Developments Of yesterday occssioned
! II was given out very " conndenually" that those
| cliques operating for a decline last week had sue
cesstuy covered their short contracts, and
| disposed to bull the market for profitable turn
but we noticed that there were freN sellers among
| the crowd o. operators, and the whole scheme will
| probably turn out TO be another " scoop" game.
The entire absence of the outside public, who have
! been fearfully neecod during the past few months,
would seem to forbid an upward movement, aud the
unsettled condition OF European combinations, to-
getler with the recent great loss Of the bank
serves, would indicate further hardening in money
rates. Gs well ne tie difficulty Of inaugurating for
| the moment any important successful rise. Wall
street, however, often goes by contrafies, and
would incline more toward the opinion OF novice
who was vcrsed in It's devices than accept the
aggregated wisdom OF the so-callcd leading chques
The tendency OF the market for tho past week has
| been decidedly toward lower prices, and the nrst
really positive indication TO tho contrary was
lbicd this afternoon, which Is already explained
above. Tie prospective increased earnings from the
movements Of the cereals to the scaboard are natcr
ing Tut the leading favoritcs have been frequent
~ vatered and so covered up by increase OF ock
| and certificates that the general public, who have
heretofore known the status Of the various lines,
| gard with suspicion any such remuuertiyo dividends
confidently predicted. Tie furry this after.
| noon, however, was Of short" duration, the mar.
kct before It's close dwindng into its previous in.
significance in point o. dealings; ard whilc prices
were only trnc of from tho best figures yet there
existed the same "muJdled" unsatisfactory feeling
as noted during greater portion OF the day. Tho
balance OF The list sympa'hzed with the PRINCIPAL
shares above mentioned. though the st. Pauls and
Rock Island closed strong at their best prices.
In the gold market there was considerable excite
| mcnt and activity. Before the formal commence
| ment OF business sales were effected at lij's,
! though az ten o'clock the prise was li5at
| The Gold Room appears to be chiefly
unjcr the control Of the German bankers
clique. who evidently have arranged for the earliest
intelligence OF the pending struggle between Prus
STA and France, and they operate tho gold market
| apparently without serious opposition. Tne news
OF a Prussian victory on Thursday was known to
toe clique several hours before ts announcement In
the street. and under the influence Of its news, as
ven their continued snort sales, the price fell o.
| max. Tie early reported advance Of bonds In Lon
don to 50 also bad depressing effect upon the pre-
| MUM, and the gold brokers became seriously
| alarmed, as evidenced BY their unwillingness 10
| purchase at the lower market rates. The subse
quent decline Of bonds TO ss% only rallied the mar
ket \ ~ cent. which later, however, fell OF to the
| lowest price OF the day. and closed at 1l4X bid
| The volume OF business was larger than recorded
| at any time of tie week, but u bearish in1uencc
prevailed at the close, and this, with the other de.
rartments OF the Stock Exchange, is very much
| mixed"
Tie rates paid for having gold balances carried
were q /. and Y cent. Clearing House, and for
| borrowing nat, and LEA q cent for the Two days.
| The total clearngs OF the Gold Exchange Bank
S55.GB7. OoO gold balances si,56ti9i, and currency
balances Sl,S'i45i. The principal quotations were
io5P q Miicess iS MMSss S5 iiisi6 ia
| Foreign exchange, As usual steamer day, has
| been dull though weak, on the basis or 109NGiO9l
| for prime 60 days bills, and liOhdii0I for sight,
The total imports Of dry goods at this port for the
| wcoS we're <2,G5s,0ji, and OF general merchandise
sl,71J.ii3 total Of s5,311,1l5, against t52li1iG
last week, end s5,S0i,tiS last year, decrease as
compared with the latter period OF 500 353. Tie
exports OF speee to-day were sJG,5iO, mostly In
gold bars making total for tne week OF 81 2Ti,G6i
%, md since January S43,COo,t53.51. TIE Treas.
ury during the week sold million gold, purchased
an equal amour; OF Government bonds for the Sink.
ing Fund, received in coin tor customs S3,i 500
and paid out in coin interest on the public debt
| tSii,7ST.
The money market for tho last few days has
shown indications " gradual hardening Of rates
| the extreme range to-day having been AMI e
| cent, though tao greater number OF transactions
we're at and O. At the close, however, usual on
Saturday, balances were freely lent at the lower
rates. for the purpose Of securing interest over
Sunday. The course OF money is specially attract.
ing the attention Of capitalists, from the fact that
We arc closely trenching uDon the time
when the West will require very liberal
rcnittnnces TO move the grain crops to the
seaboari, and past experience has taught
ne that hitherto the drain from the New York
banks, as well rs uIJse Of theiAa1tic cities, has
I 10 laas 1asNH faP has lUsnR .f
very special importance although at some Of the
Western cities exchange rules Against ~. In Wow,
statement Of toe present condition OF tie city banks
a. compared with one year ago;
AZ 2 1ss IL 49, D15yt8is:
P:5s :S3:: s5.S g S &c.,. n 8
II will be seen from the above exhibit that nj.
though the liabilities OF the banks have increased
$26 800 GO the reserve has been losscncd tI1G7Q
continuance of easy money. But on the other hand
II should be remembered that tie currency balance
tie Treasury according acc to late washinson ad,
It Ia doubtless the Intention OF Secretary
Boutwell, TO reduce by extra purchases of bonds,
tnus rendering Tue same available tor crop pur.
poses. Taking this into consideration, We do not
Incline To belief in unusually stringent money I'M
| less arising from arbitrary extraneous inter
ference which has hitherto boon tne bane OF Wall
street, anl which cannot be too severely depre.
Gated. The bank Statement. today was OK.
ccedngly uniayorabe, and reflected do
| crease in all the items. An Analysis shov
| tInt the total reserve OF the b1nks had been dimn
shed st9g3 9}2, against decrease OF onlyit9Gl2,
~ y 20 ,9s total Liabilities dho banks nov mold but
ncns, against $1i,0o2,il0 last week, dec Vi
| $2,5ss.2tS.
| Government bonds have been steady on restrict.
| ed dealings the sharp advance ~ prices to 80 in
London being neutraliLed by the decline IN the gold
premium here. There was absolutely nothing uone
| IN ti.e way OF investments, and the business over
the counter OF the leading houses was limited
| The market closed steady. and Henry CLOVIS & Co
- " all street, report at 400 =. NJ:
| Iad. Asssd. ma. Astsd