The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-11-20
FINANCIAL And COMMERCIAL.

E.AtHlStllH N1tU UViAIAINVaRIs
WALL STREET, |
SUNDAY Nov. 10. 1871.
The trade OF the CITY has shown rather an improve
mcnt for the week. although buyers are taking small
lots, contenting themselves with simply supplying
the current wants OF business until the new year.
The colder weather has induced more activity In
uptown trade, ana the retailers express satisfaction
with the course or their business especially their
customers are pretty generally employed and fairly
supplied with money.
IN WALL STREET
the markets have been characterized by unusual
dulness. The memory OF the brokers Is taxed 70
find Q duer month than November has so far
proved 10 be. Nor was the lack OF activity confined
TO any special department; ir was conspicuous In
gold and stocks ana even governments The only
legitimate activity has been manifest IN railroad
bonds, which largely dealt in every Gay and form
an attractive vehicle for investment Tor foreign as
well domestic capital INDICATED by tho rapidity
with which the nrst mortgages OF completed roads,
or contemplated rst class ones are absorbed In tho
European market
ON THE STOCK EXCHANGE
dealings have been limited during the stsgna-
ton Of the summer season. and much surprise IL
expressed at the refusal OF the market 70 become
active in the presence OF an unusually abundant
supply Of money. Perhaps the abnormal condition
OF the money market and lack OF faith IN the main
tenance OF the current ease check the speculative
animation looked for under such circumstances
However. as the banks left or on Saturday with
surplus Of nine millions above their required legal
reserve, and as the interval TO the relaxation OF
January is spanned BY few weeks only, the clique
operators may be successful In making that market
for which they have been so anxious The varia-
lions in prices have not been OF important extent
md a nj w par
the fluctuations Of most OF the list. The Vanderbilt
securities nave been, on the WHOLE lower, Harlem
falling or on the agitation about the dangerous
working OF the concentrated trains on the route
above the Union depot. Erie was feverish on
o light business. The new Lake Shore securities,
having lost their novelty, were compa atvely neg
lected. Reading was exceptionally very strong,
and advanced TO quite close upon the quotation
prevailing before the chicago fire. while a fresh
moveme mt in Union Pacific, seemingly quite legi;i-
mate carried 1t up to 27X. The Hannibal and 81.
Joseph stocks again weak, on account or sales
by parties connected with the defeated POLITICAL
rings Of the city government. In the miscellaneous
stocks Quicksilver took q sudden up ward turn and
sold at 2331, and Western Union got as lar as "a
when sales to realize 50 sharp an advance TOOK 1t
back two per cent Pacific Mall was duh consider
Ing the fact OF The annual election and the triumph
OF an entirely party in the board OF directors.
trayed disposition to SELL but the downward
movement was checked by good bank state
ment, the influence OF which furthermore
Counter0alanced the effect OF the several
savings bank failures On Wednesday next
an important meeting OF the stockholders o. the Wa
bash Railroad Company Will be held in Toledo for
the purpose OF taxing into consideration the ar.
rangements proposed with the Lafayette, Blooming.
ton ana mississippi hallway Company together
Stor yith tba Uofo HIM nd
BLOOMINGTON Railroad Company, the Hannibal anu
Central Missouri Railroad Company, and the
Pekln, Lincoln ana Decatur Railroad Company.
FOR the lease Of their several railroads, which
ARRANGEMENTS have been duly approved by the
Wabash board OF directors, and Will be submitted
to the stockholders for their approval or rejection.
The Michigan Central Railroad Company have
authorized issue Of stock in the proportion Of
one share to each six OF the present capital Tho
books closed yesterday for subscriptions to this new
ISSUE which will be sold TO stockholders at Par.
THE MONEY MARKET
was easy, part icularly at the close OF the week.
For few days, ut the beginning OF the week, sone
activity was experienced, and seven, gold, was paid
By borrowers call; but the supply became BETTER
| and the rate on call descended to three to four
| per cent late on Saturday. The numcr-
| GUS insurance companies having losses IN
| chicago have deposited large amounts In
this city preparatory the settlement OF claims.
PRIME commercial paper was easier and quoted q
IL per cent discount Foreign exchange was strong
and left or at 1904 ITO for prime long and short
sterling large buying having been induced BY the
DECLINE IN GOLD,
which fell to Ill on the reduction OF the Bank OF
England rate OF discount to four per cent.
THE BANK STATEMENT.
The weekly statement OF the associated banks
shows gain OF nearly three millions In legal re-
serve composed of about two and one-quarter NIL
lions OF specie and thr ee-quarters OF million OF
greenbacks. The increase IN specie Is larger than
the difference between the receipts AMI disburse-
ments OF the Sub-Treasury and expresses in part
the deposits OF coin received the previous week for
interest on the public debt. The specie average Is
| therefore falling one. The banks gain s1,75o,57S
/ IN their surplus reserve which now stands ut
| s9,os9.425. The statement compares with its pre-
| decessor as foliows:-
Loans 700 500 Inc. $l.5Sl 800
specle...... 1921, 500 1923 500 Inc. 22i7, 500
Deposits.. 2l4,2,5,4oo 210lSe,0Oo Inc. 4,eli,so
Legal Tend. 54,452,3oo 5,,lsl5o, Inc. 719,2oo
| GOVERNMENT BONDS.
| The government list was generally strong but
| quiet, with limited business. Before the noon
! board on Saturday the quotation OF CTS hal
/, been based on tae capacity for delivery OF the
| "calledn bonds, which are rated oily at par
| in gold. But the question is now settled that
| the dealings are to be ex the ''calledn bonds,
and the quotations Of CTS at the last board reflect
the price OF the floating issues not yet designated
| for redemption. The following were the closing
street prces:-United states currency SKIES, 113h
a11ais; do. do, 1881, registered. ll6j4 1161z; 40
do, coupon, 1171s 1l7ss; do. fvc-twentes, regis
tered, May and November, Ill NIX; do. do, 1862
coupon, do, l1ls< q liz; do. do, 1854, DO. do,
1llh aAl1lSS; do. do, 1866, do do, 1l15S liz;