The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-10-19
FINfNIAE and COMMERCIAL.
WALL BTRBTr, I
TUESDAY. Oct l6--6 r. u. 1

F WALL BTRBHr, I
ft TUESDAY. Oct l6-6 r. n.
inc activity At tho Produce Exchange allowed
marked diminution to-day under the advance In
frcights ana while breadstufs were not lower the
market was heavy. The kilograms nom Chicago
report similar state OF aairs that city, the rates
by lake propcners having been advanced on the ex'
pectation or heavier shipments and consequcnf
competition for rcghts. Doubtless the heavier tone
Of the market II due m measure to the report BY
cable that an armistace between France and Prussia
is very pr0bsbls. the anticipation Of peace serving
to check the speculation FOR such an export OF bread
stufrs M would result were the combatants 10 pro-
long nostihties indefinitely.
GOLD wEAK--113H a 1925.
Moreover, the gold market was weak, and by Its
decline checked purchases for export, as It likewise
checked the shipment OF stock now in the city. The
decline In gold Was due directly to kilograms from
Europe that an armstice was very likely TO he
brought ABOUT between France and Prussia pend
ing negoa lions for peace. The earliest sales at the
Board were at lis lls}s, nom which there was
pressure Of sales To 1l21S Here the leading bank
ers IN foreign exchange advanced their rates quite
SHARPLY and gold reacted TO 1l2a<--the final sales
this evening occurring at that figure. AS far as
might be Judged from the course OF the gold loan
market i. would seem that the holders OF
gold hays not entirely relinquished their idea
or causing an advance. for the rate for borrowing,
which ranged from nat 20 l-s4 in the forenoon was
put Up 70 As high al lilo before the close or transact
tons outside the Clearing House, IL is not supposed
that the .bnIln interest is extensive or powcrfu,
but tn management OF the loan market has Ger.
talDiy been skfu. One cause of the failure OF the
conspiracy in September 1862 was the bad grace
with which the ''bul,sn then managed their gold;
for they let rhe .bearsn obtain the upper hand In
this loan market and were constantly paying exrava-
gantt TO have iheir gold carried. in the present
movement the 'bulls'' have seldom gwen the
"bcars' an opportunity to &c. the gold without
paying consideration for It's use. ana they
appear TO nave drawn or lo0sed the reins
at VIII. That they exerted their power IN THIS drec-
ton to-day was quite visible, and their employment
OF their this respect was one OF the rea.
sons FOR the reaction in gold. On the other hand
the Dears move quite confidently against them. In
aslnucn as the market already gives them large
profit and In view OF the prospective disbursement
OF the November interest on The public debt. The
rise In exchange has however, complicated the
porary situation, though the further deceEsion OF
god is only matter OF few days or Few weeks,
according AZ the question OF ireigh1s shall adjust
Itself TO permit heavier export Of produce. While
the market for bfeadstais as above noted,
has been heavy and duller, the pros
pecr or peace IN Europe has revived
The demand for cotton in Liverpool where
the market to-day rIl Ind active, with heavy
sales OF the staple, thar II there continue an
obstacle 10 the export oi brcadstGns we sna see =
vast Improvement in our exports or cotton aud the
value OF gold determined by our increased trade IN
this article. Scan the situation as may, ~ seems
impossible that circumstances VIII conspire 90
arrest our steady progress in prosperity anc 10
further obteraton Of the gold premium. The
course or the gold market Is shown In the table,: