The New York herald., 1870-02-21

THE GOVERNMENT MARKET SENSITIVE.
The struggle between the rival operators In the
government market has been OF an interesting char
acter, and transactions at the government board
have been for the most part purely on speculative
account the outside investment demand being for
the time suspended, abiding the result. Congress
and the Cuban question, the national finances, the
European situation, and IN fact all auxiaries to the
contest, have been employed on either side. For
day the battle would be with the ''bulls.n On the
next the tide would turn against them. Despite
all this energy or rather by reason OF much effort
on either side, prices moved within an extreme OF
less than per cent the advantages II any being
with the "bulls, " whose cause received the sudden
support OF sharp advance abroad In American Sc
curities tho nve-twenties in LONDON touching the
remarkable price OF ss1s. This diversion drove the
"0ears' to join the stock cliQues In, II 1t did not
suggest TO them. the movement against gold; for
governments are curious In their movements, being
likely to fall with gold, but to rise with the
foreign demand. The market on Saturday
left on" In such situation that II anything
occurred to stop the downward tendency OF
gold and steady the market governments would 20
up with Dalloon-like buoyancy on account OF
the strength OF the foreign quotations. The
following were the closing street prices on
SATURDAY United States currency sixes, NIX
1lH do sixes 1884, registered, 117h 1ls; do. do,
coupon, 1l7h 1l7X; do. fve-twenties, registered,
May and November, ia o I14E; do. do, 1884,
coupon DOL 1l511; do do, 1854, 90. d0 114I
ll41.; do. do 1866, do. do., 1l4A 1145s; DO. do,
registered January and July, 1121s 1l3k; do. do,
1885, coupon do. 1ls 113I; do. do 1857, do. do.
do. ten-forties, registered 1921 q 1927; DO do.,
coupon, 1l2t. 1924
THE DECLINE IN STOCKS.
The week has been one OF steady and general
realization among the stock cliques, and prices at
the lowest were FROM two TO six per cent below the
best made since the commencement Of the "bull'
campaign. The decline not large one. consider.
lug the point from which the market started, but
the clques. having got out OF stocks themselves are
enoeayorlng to induce the street TO sell ''shor at
the decline. Hence the "Dearish" inclination or
tho speculative mind In the latter portion
OF the week. After the bank statement the
market was buoyant aud strong, but duh,
few having courage in the present situation OF the
stock market to take bold step either way. The
outside public are afraid to buy lest the clique
should continue to let down prices and are afraid
to sell lest they should be twisted" In assisting
q knowledge OF the situation 1t may be interesting
to know that the prominent clique houses heavy
lenders OF money on Friday and Saturday. on the
latter day the rate on call was quoted four to five
per cent on oil kinds OF collateras. The Southern
State stocks have been active In the Tennessees
and the North Caroltnas both OF which declined and
were steady IN the general list.
THE BANK STATEMENT.
The weekly statement of the associated banks,
though continuing to show loss IN legal tenders,
owing to the process of forcing redemptons on the
country banks, Is much moro favorable than was
pscted by the street. although the changes not OF
great moment. There is total loss In reserve OF
about two and quarter millions. but the ablli-
ties are reduced million BY the decrease In de-
posts the loss In the surplus over the legal reserve
Is JUST two mions The discrepancy between the
small loss In specie and the customs payments
Of the week Is not so readily accounted for, unless
upon the hypothesis that the decline in gold has
brought out great deal OF coin heretofore stored
sold to realize the premium the specie finding its
way over the counters OF tho bullion dealers and
into bank. The banks are generous in loans and
have expanded the item about o million ana q halr
Of dollars. The last two statements ere a. follows-
Feb. H. FEB. To-
Loans, t265, g. 662 $257, ,s27, ,36S
specie. ................. 3S,072ls4 31.2o4, 3s7
Circulation. ........... 80, 703572 3S694,S7l
Deposits. 1881 2T40 2l21Ss, sS2
Legal tenders. 66.603, 600 5b, ,134.006
The changes in the condition OF the banks are In
detail as follows:-
DoIessS ~ specle .....................'.. soaaW
Decrease In circulation. ion.................... 920l
Decrease IN deposits Observation-Disclosures. 1,0038s8
Decrease In legal tenders. l,aoss9
Despite the loss In reserve the banks hold
$40 In excess oftne limit required by law.