The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-11-26
FINANCIAL and COMMERCIAL.
WALL STREET,

WALL STREET,
FRIDAY, Nov. 25--6 4. M.
On Change today the markets were quiet Wheat
was steady although the large arrivals had a ten
dency to render the market heavy In the absence OF
any Improvement In Liverpool where breadstuifs
quiet despite tho renewed agitation OF the
Russian question. The large arrivals are accounted
for by the general anxiety to hasten freight to New
York before the closing or navigation. The Hudson
river is covered all the way to Albany with fleet or
canaboats hurryng grain 10 this market before the
ice embargo shuts on communication. The cotton
market was lower and inactive.
GOLD sTRoNG--lllA A 112i:.
The spcciai consideration affecting the gold market
Is at present the course of our bonds In Europe.
The street was filed today with various and con-
rictlng rumors to the condition of arairs al the
London Stock Exchange. the situation at one time
being represented as quite pancky owing 10 the
'iirmn attitude which Russia had assumed in her
latest response 60 the communication OF Earl Gran
vile. The nature OF this last document did NOT
transpire the only intelligence concerning il. that
was known TO tho street, being the indefinite aud
general statement Just given. But the accompany
ing announcement that John Bright had resigned
from the Cabinet OF Ministers was regarded as a
further step In the direction oil war policy on
the part OF Great Britain, the effect OF which was
reflected IN decline in consols 10 0aA o27s. as
against or. earlier In the week. The most curious
and suggestive feature OF the fuctuaton ut the Lon
don Stock Exchange, however, Is the growing firm
ness of American securities which are gradually
becoming less sensitive the public apprehension
there OF war with Russia To-day the decline In
our bonds less marked than that III English
consols. or course IL Is only natural that the SYM
patty which at first existed between them should
gradually diminislL Tho war between France
aud Prussia drove millions OF capital from
the Continent to London, where 1t found invest
ment in consols Now that England is in danger
OF war With Russia this capital naturally
looks aboutfor fresh refuge. Hence we find tnat
the excitement and agitation in London which at
first affected all securities alike are beginning TO
tnrn this capital into American securities, which
are the obligations OF the only Power likely to escape
the complications arising OF The Eastern ques-
ton as revived by Russlas notes To the several
Powers. For this reason the depression III our
bonds was not at all commensurate with the re-
ported scmi-panc At London, their decline being
only anont u a y per cent against fall OF x u
per cent In cons0s. difference may be trHng,
but any variation III our favor is certainly very sig
nihcant. AT least II had an important result In the
Gold Room, where the speculation for rise produced
the comparatively small nuctuaton rom l1lA 10
l12s rs the extreme prices OF the day Again the
rates ia the loan market indicate that great deal
Of gold mas been bought despite this small advance,
Clearing House this afternoon that the figures
which previously favored lenders turned against
them, and as high six per cent was paid to have
gold carried. The specie shipment TO day was only
sloe7oo Tue course of the market Is showu the