The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-09-02
FINANCIAL AND COMMERCIAL.


share market reflects a trnc better feeling and
prices arc iruer, yet the volume OF business has
reou quite nominal In the prescott condition Of the
arkct half oozcu brokers can make quotations
70 suit tAe views OF their principals and a few hun.
jred shares vigorously manipulated seem TO rally
prices even ofectuaily than thousands In or
dinarv times. Tao cliques are heavily loaded up
with tie leading shares and having time since
success nlly arranged their loans, OF In the
country for recreation and rest from their constant
anxiety Tor the past few moasis The stock market
IS therefore kept barely steady until their return
with occasional variations on the bull side It /.
utterly impossible In the absence OF any outside
support from the public, to work tho market into any
activity, snd the brokers not connected with tie
eiiaues bitterly complain Of unusual dearth Of
orders. When the magnates OF Wall street return,
an impression obtains among spectators
that higher prices will prevail, but the uu-
settled condition OF European complications
- vel as the poor condition Of many OF
the city banks, together with the anticipated de.
maud FOR money usual at this season OF the YEAR
to uoyo the CROP the country to the seaboard,
viii doubtless raise the interest rates and occasion
more difficulty in eioetng loans. These considera.
lions have led US to believe 10 o lower market for
stocks, and much apprehension is evidenced among
small holders who entertain these views. while on
every rally they seek 10 realize at present loss,
rather than risk the probabilities OF tile future.
II the clique leaders BY "wash sales"
are able TO run up prices i've or more
rer cent, some OF the outsiders may be
led into the trap SGT for them; but, viewing tie
market from It's preseat standpoint, there is
stronger probability ofa decline. Some OF the most
prominent clique opersors have, through their bro
kcrs, been selling heavily throughout the week, and
there seems disposition TO unload whenever the
NlraNR tNa n aNsh
offered are in small sums, and so adroilly dis.
posed OF not to attract special attention. Stocks
are altogether too high at present figures and those
~ the oatsde public WHO have money To invest are
seeking 1rstclass rairoad bonds at lower prlces.
opsnIne in consequence on Tho ronijnncd pr~ssian
victones. Barry sales before the formal commence.
sent or business were quite active at Ii6I, there
brokers % purchase NJ iiGi. at The FiGh Avenue
Hotel last nishL and wAch wern executed at tie
was evidenced quito scarcity Of cash gold Ind this
fact prevented She war news from exercising more
mrm rose to llds about midday. hut subsequently
closed at mex bid, although a majority OF
trnrsdCtons were effected at b cent. higher prices
mo "pool IN ~, TO which reference was made
IN these columns last week, have by their quiet
'rcTaions endeayored to convey an impression that
no sueh combination o1isls; bus their movements
were detectod Yesterday when they Did up the mar
kct 20 1i7'6. aded by some covering OF tho short
interest. To-day ,hcy have been purchasers when
ever they could PICK up odd loia at curreut figures
and their rlSn l. 10 make gold scarce, by which
means uey pc TO again advance the price. 1nc
largo amounts Paid into tie Sub asury during tnC
pct month, together with heavy eNpor,a frequently
sludcd 10, ave given confidence to the leading
Clique; hut We have seen 30 many similar combine.
lions formed durnS tie past year, witch have come
To Fr'cf thJ 've deter any opinion Us to the result
OF iher operations ultl The programme has been
further advanced.
In the gold loan !rarket the rates were fat and
and n cent. Tor c7rrYiAg, md y cent cN Clear
ing Nul,I. The u, .i. too. oui S2h0Jl In specie
ne lo'Il ele'T - 20 tte God Excaua l'ank were
StiiG otO; gold lance. a. C8 3;d ant currency
balances, sl2'90. 4he principal quotations
were:
l.9 a. N...i!G " w.. ~ lpfrWiiijjlibboG1
IN foreign e2chFlre here has tecu frmcr feel.
ing Naricnlarly ON lour -ernr, dua rather 70 the
re- uclion m te Bans Of EbgaHd rate Of discount 20
~ n cent Ian to 81! scarcely OF BUS. Prime
hankurs' GndNs hil' were quoted at lu94HlVl5s;
'irl, llrg nus; commcrcl, lOss9lUJ; frlncs
on Paris q hr!-l ~ 5.IsL t. tie G0Iar Tor
'o4gfi anu 90 y - - or shgri.
. y lo IMPROVE volume Of Un-tue's Ut the Stock
l.Hchange has rcsal, IN slightly more active de,
nlnc fnr money, though IFS has been readily met
20 aubG = ctpt, sceHrlng 10 tie CO lateral, the
bulk OF transactions holng It'll reported AZ 3. %
uWc loans running 90 20 20 DAYS. tho rate II 7 d
tehi, "l'u q conWisalo o. NON v ceII added.
Tue gmount Of eurreucy sont L. the West tnus iaI
THIS week has not hc,n impnrtant. Conmercrl
Paper H. quiet strictly " ne being quoted ut los
cont, Al TIE purchase Of one mil ion bonds hy the
Treasury, tie No. under the NeptCuboI pr ogr nlme,
oierug. were nlcd 10 the a cunt OF $4,7i9sSO At
prices ranging from ll9.tGiO 1921 OK interest The
IN rds were made AZ loJ0G TO 1875. The Govern.
ment bond market has been firm, and PRICES RANGED
traction above the aYcrageiiilurcs of yesterday IN
sympathy Nlih tle hghoi quotations of bonds In
London, under which some liberal purchases were
ord" for The account OF oreign bankers The larpe
OF mas 10 The Government had no depresslf
effect upOn prices Tho 10 aOs were sold OK intepts
n' ~ Z cent Ia gold. According to Washington
adytes, the puhlic debt statement, shows decrease
Tor the month Of August OF Sl34O0.0M Tha mara ct
closed steady, and Henry Clews a Co.. 80 Wall
sheet, report at 7. NJ: