The New York herald., 1870-03-21
THE STOCK MARKET.

The stock market was heavy, weak ana lower,
prices undergoing the decline which, in the estma.
ti0n Of the 'bears," should have accompanied the
decline In gold from 100 to 1lOA, but which the
"buls" STAYED or BY = stubborn resistance. This
falling movement has been more signay exhibited
IN Northwestern preferred, which has gradually re-
ceded from 82 to s1sS. The decline is less marked
BY direct contrast in, but Is distributed in fair pro-
portion throughout the rest OF the st The nrmness
In gold and the ease In money checked the decline
at the close OF the week, and reactionary feeling
was quite strong in Saturdays transactions.
THE GOVERNMENT MARKET.
During the decline In gold the effect upon the gov
ernment list was TO considerable extent counter
balanced by the advancing quotations In London
and the demand for bonds OH European account.
Both these latter influences were lost to the market
during the past week. fye.twentlcs in London being
weaker ana declining Saturday to low ss 9O5s.
The effect was slow decline OF fraction each day,
until on Saturday the lowest prices were made In
the second downward turn which governments have
taken since their original "break." when gold went
to 1loll and the Funding bill passed the Senate.
THE MONEY MARKET
The rate on call ranged from four to rve per cent,
with exceptions at SIX per cent on miscellaneous
collateras. On Saturday Loans were made us low as
three per cent on governments. The outflow of cur
rency expected In connection with the spring de.
mands In the rural districts has not been large as
originally anticipated, the banks having lost
only half q million legal tenders during the
week. Indeed, with the low prices Of farm
ing products It Is doubtful II the farmers
will require Us much money this spring
as heretofore. The prospect OF light returns
for their labor checks thelr agricultural enterprise.
Again, the disposition OF Wall street discount the
activity expected ut this assisted the do
cline In prices In wan street and the shrinkage OF
values sets more capital at liberty. Hence the rate
on call has not responded to the prospect Of activity,
especially as the banks, In possessing surplus Of
s25 0oo 900 above their legal reserve, posi-
ton meet the drain to the country should IL be Of
normal proportions.
TIE BANK STATEMENT.
The weekly statement Of the associated banks, In
q further loss OF about half million OF legal
tenders, refects the continued but decreased move
ment OF currency to tho rural districts SO usual at
this season, the beginning OF which this spring was
first noticed In the bank statement OF last week. A
loss of nearly million ana half of specie Is due
to the customs payments OF the week. The decrease
In deposits Is only million, against total loss III
reserve OF nearly two millions, the banks having
expanded their loans nearly the latter amount. their
llberallty being due 10 the reduced figure on call
loans during the week, which compelled them to
enlarge their line Of discounts rather than suffer
their funds to Ire unemployed or to 60 into Wall
street at four to ve per cent. when prime endorsed
paper was to be had Mt seven eight per cent aDd
good single names at eight ten. The statenen. Is
unfavorablc in showing decrease OF over million
and a hal dollars in tue surplus above the legal
reserve Of the banks. The last TIVE statements are
fNla