The sun., 1870-10-17

able amounts OF stock. and have invested the pro
oeeds OF these sales in such railways a. pre-
sent atterine increase In their earnings pre-
vious years. The programme Of the various
bnatiors appears 70 be the concentration Of capital
In few leading stocks, which they hope to suc-
cossfuly manipulate when Invested Of the heavy
blocks they were forced into earning daring the
sumner staghatior. The crenng prices on tie gen.
eral list were stead IT,. morning, with an advance
until about midday. when. under tho influence OF re-
oiizing sales, ard the absence OF anv sustaining
power, a eight reaction vas observed Subsc-
quenuy, however, the mmket became alternately
weak and strong. prices during the afternoon being
carried to the Lisest point OF the diy. enaly clos
ing dull but 1cm on the leading shares. The most
noticeable feature was Western Union telegraph,
in which the upward movement was further dovc.
opei. selling s high as AZ, rise Of ~ v cent.
during the week Pacific Mail also actively dealt
in. while the favorable quarterly statement OF the
Nottbwettern read induced large speculative pur-
thsses, and was iemployed 10 advance that stock.
Amer these, the more prominent dealings were In
New York Central, Lake Shore, St. Pauls, and Wa
bash During tie afternoon there was a spasmodio
activity noted in Rrie and ohioand Mississippi the
balance OF the list being practically neglected.
The gold market has been more :quet than yes,er
dsy. on On average volume Of business. The gem
eral tone was bcarish, though high rates were paid
in tic morning for the use Of coin TO deliver on
short salos. gs- bu clique are evidently cndelvor
ing to so msiA ulate the market that the Secretary
Of the Treasury will not in,erposc In behalf OF the
commercial interests. though they still retain control
for tie purpose OF making another squeeze" wien.
ever q favorable opportunity Is presented. The
range Of the premium to-day has been 13 TO 1i3i. .
tho majority n transactions having been made a,
1l3A during the active demand for cash gold early
In the day, borrowers paid c. 3Gi, g., IIG o %
16i, and 2 of y cent. for tic two days; though
sui 'equently 2 y cent was paid for carrying. The
total c'earlngs at the Gold Exchange Bank rejecting
Fridays dealings wtrc tS162iO 90; cold balaDccs
ti,GT0gii aud currency balances, t2,l25bl1
Tue principal quotations we're;
isSS isS NnisII;scs ;:fs MMi,iIs io9 iis,x
Foreipn exchange has been d1l IA usual amer the
calling of the PACKET, aud rates were weak tine
basis Of i0s'IGlOsS for prime bankers 60 days
ON Wednesday, foG the Treasury viii sell o. 00o d.
600, col and purchase s2oOjOOJ h7etwon,ies on the
Tho dishursernents OF tae Treasury yesterday in
| the payment Of tie two millions bonds purchased
| the dag previous, induecd an easier feeling Ia
mouev. which wis accessible 10 early applicants a,
5tI " cent. the 20 Ver rate beng on tie pledge OF
bonds. Toward the close tic banks were reel J
pressing their balances upon the leading bond deal
erS Mt n cent In order to obtain interest FOR the
| two days. Although rumors cf attempts TO make
money stringent next week are current In the street.
| no serious anprehcusons Of tight mOuey are CA
pressed as II Is undcrst cd 10 be the policy OF the
Treasury TO increa its bond purchases IN ease OF
| any arbitrary outside interierence. In the mar
| ket for commercial paDer there Ia moth
| Ing now to note, and rates are uncnangcd from
| c.lyrdaY. The bank statement was more iavora
| be than was anheinited. and reflected stead
| movement during tue week, notWi hstanIing thl
arrangement ot the market consCqUent upon h.
| sold = ccuo,ion. The total reserve Of The bank
| WAS reduced .i3',ss1 ~ AGAINST IN ncrels" 10 the
20 al iiatites OF Sl6},H9l The banks nov iu' IN
| Surplus over legal reserve St.U<2.iifl, a de
| ere Sc a. compared itn list ~e-k o. S11dGJi TIL,
totals Of tic pas Und pt,cc nl weeks are as uudcr
| stated: