The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1870-03-05
New YORK Money and stock Market.


The Gold Room to-day has been tho scene Of
intense excitement and prices declined to 1l9I{,
the lowest point since August II, 1bB9, Whcn II
sold at lt9S. The downward movement began
yesterday afternoon and sales were made late In
The evening as low as Il4H. This morning be-
were between 1IilS and lI8,E: tho frst recorded
sale was at 1l3H, after which tho price fell to
lI8H; again advanced 10 11i fell To- 1875, and
closed ut lIlk, The Post says the smAFkct was de-
pressed by weakness In foreign exchange and by
The statement Of tho foreign trade movement Of
tho Unitci States tGlcgraphcd GrOm Washington
yesterday afternoon, which makes the balance Of
trade against this country for the SIX months end
Ing December ~, 1860, only about $2,0ooO
This statement II Official, is entitled to consider
prepared to make favorable Impression II p0sSl'
bic. Tho Commercial contends that the state
mcnts arG erroneous and that the adverse balance
should bO $40, ,OO0OOO instead Of $4,000 900. to
which should be added fully $95 900 Interest
on bonds held In Europe, making $oS9gO,ug1, or
al the ratc Of $4,000. 900 per annun. The Com.
merctal adds, However, that this balance, It ia to
be assumed, has beGn set OF by exports OF EeciIr'
tiles. UtIu
Tho EIprsGa says Europe is and has been for
some timG past buying largely OF American nall.
road securities, either for cash or In exchange
for railroad Iron. Scarcely day passes bltEoIne
negotiations arc concluded with tho representa-
tive OF European bankers for some OF the new rail-
way securities, being constantly brought 0nton
The cotton crop is very large aud Is being mar
kcted with unusual rapldity. Caution on the
part Of importers has brought imports and Cx.
pOFts closer together than for years past, and or
hcials figures show that our foreign trade hyery
evenly balanced. In these Official figures no aC'
count iE made Of shipments Of American Eccuri'
tics, and there arc many believers In the theory
that Europe 10 In debt TO America, not America To
Europe, thus 1t will be sOcn that railways arc
bringing tho country to the vGrgc OF specie pay
ment II is tho natural and real cause OF tho pre-
Scnt decline In gold. The decline In gold to-day
n unsettled IN mercantile circles, aud had dc.
pressing effect In the producc market. PrOvts:
Ions Of al kinds arc lower; -four declined from 10
10 15c. Wheat dull and almost unsalcable, not:
withstandIng the cable reported an advance Of 10
TO IS pence Ii Liverpool. In cotton great dcprcs'
sion was felt, and tho marked difference 10 the
views Of buyers aud sellers brought business
Y per cent and there was disposition to specu'
late on still lower prices In future. The decline
In cotton Of late has cntailed heavy losses OH
speculatoFs holding cotton In hopes OF spring
rise, and tho market is In q iOvCrtgh condition,
which might result In much lower prices ifcOLton
on the spot was thrown on the market fresly.
MONEY-MaFket unusually easy at 49I per
cent on call. Nearly all business Of q 10 . per
cont. 4 prominent bank to.dny made loan for
60 days al 81 per cent on Government bonds but
this docs not reflect the feeling In regard to the
futurC Of tho money market, Loans have been
for 90 days In stocks at per cent and commission
a closer money market in April, when tue Coun'
try Is likely to call upon tho city for currency 10
make quarterly settlements. clearanccs $T1,'
mn IN o..