The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-13
FOREIGN EXCHANGE INACTIVE.

FOREIGN EXCHANGE INACTIVE.
The fluctuations In gold arrested the demand for
exchange, and while rates were normally un.
changed the market at the close gave token OF lower
quotations on the improved feeling in American
securities abroad. Continental bills were irregular.
The steamer to-day took out only 5000 900 in specie
a smaller amount than looked for-tne decreased
shipment being due to the fact that the steamer be-
longs to a German line, whose vessels would OF
war. Hence, remittances were generally delayed
for the English steamer tomorrow.
MONEY EASIER.
The money market was easier, and while there
were number Of transactions at five per cent early
in the Gay loans offered at four per cent before
the close Of banking hours. AS anticipated the &C.
tivty Of Saturday and yesterday only temporary
Loans standing over at four per cent were with few
exceptions, undlsturbed.
STOCKS EXCITED AND IRREGULAR.
The ste ok market opened weak and at decline
from the prices OF the previous evening. With the
first decline In gold to l13 there better feeling
aud prices improved but the "bearsv had been so
encouraged by the success of sales made
last week, when the whole appearance of
the market was against their policy; that
they took up the revival OF the Funding
bill as war Cry, and made a terrific attack which
came near bringing on panic In stocks. For ff-
teen minutes or SO the scene in the Long Room was
as excited as in the adjoining Gold Room. New
York Central fell TO 96h, Lake Shore to 0SI, Rock
Island to ia Reading to 1925, Wabash to "a and
Pacific Mail to 4Oai. Gold at this stage commenced
to make the plunge which took 1t to liz, and gold
and stocks during the present excitement have by
a curious freak Of speculative feeling, moved in
opposite directions on the same news from Europe
although in the spring and summer their tendency
woa IN hnrtna thpr ha hon to
cover and the "bus" TO buy-ihe latter, on
the intelligence from Washington that the
Funding bill had been defeated III The House
and recommitted to new committee
of conference. The effect sharp and sudden
RISE which carried prices up about one per cent
above the lowest or the day. the advance making
the highest prices Of the day for OF the list.
On the subsequent hardening OF the gold market
there reaction from these prices and the mar
ket closed lower and dull, with cautious and hest
tatng tone to the speculative feeling. The follow
ing were the closing prices at the last session OF
the Stock Exchange:-Canton, 81 Did, Cumberland
81; Consolidation Coal, 80; Western Union Telegraph,
341a 341S; Quicksilver Ga Z; Marposa, OK a 8;
do. preferred, 1873 15a; Pacific Mall Al Az; Bos.
ton Water Power, 1914: Adams Express 6S3S 6s1S;
Wells-Fargo Express, 15,s II; American Express,
a. 444; United States Express, ASK bid: New
York Central consolidated, 97i4 a 07s; do. scrip
90 93}s: Harlem l3S q 1879; Erie, 227s 90; Read
ing, 1927 1925; Michigan Central 10 bid; Lake
Shore, 9oH 99H; Illinois Central, l4O a 14O1i;
Cleveland and Pittsburg, 1ooK; Chicago and North
western, S27S SO; do preferred SIX s72s; Cleve-
land, Columbus and Cincinnati, S24 81; Rock
Island ll51S 1857: Milwaukee and st. Paul, So a
e5j1; do. preferred SO q solt; Toledo and WABASH,
54I s.; do. preferred, 70; Fort Wayne, o5ls
bd Ohio and Mississippi, 80 a 35h; Delaware and
Lackawanna. los lO5; New Jersey Central, 1o44;
Chicago and Alton III q 49, do. preferred 100;
Morris and Essex, co. Hannibal and ST. Joseph,
li5l. a 1l715; do preferred, 11sI 121; Iron
Mountain 4ssl bid; Boston, Hartford and Erie, 81
a q; Columbus, Chicago and Indiana Central, 20
q 201a.
HIGHEST AND LOWEST PRICES.
The following shows he highest and lowest prices