The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-15
FINANCIAL and COMMERCIAL.

| FINANCIAL and COMMERCIAL.
| WALL STREET., l
FRIDAY. April I4-0 p. NJ
On Change today wheat was duh and heavy.
The cotton market was active, but unchanged.
| MONEY FIVE TO SEVEN PER CENT.
| The money market was more active, owing to the
better demand arising out Of the increased volume
OF business at the Stock Exchange. Loans on stock
collateras were generally made at six per
| cent; but the transactions at seven per cent
/ were too numerous to be called excep-
tional. On governments the lowest figure was
| five per cent In new business and the smaller
dealers In this class Of securities generally paid six
per cent, Prime commercial paper was readily re-
gotable at OK AZ per cent.
Foreign exchange continued nrm on the basis OF
1o9s 10 for primo bankers sixty-d sterling and
| HOY ll0ss for sight bills.
THE DRY GOODS IMPORTS.
The imports of foreign dry goods for the week
ending April IS, 1871, were s2,3S017s.
GOLD srRoNG-1lO7S 1lozs.
Some OF the wealtnier stock operators finding the
| gold market SO heavily Oversold ana Knowing that
they could make good OF the fact the specie
! shipment Of Saturday was likely to run up to a
million and q quarter Of dollars took y "nyer' in
| the Gold Room, and, by the purchase OF few hun
uIeu ulOusdHu uOlldlS COln, sluTtci ''SHOItS'
into covering the fury continuing until the price,
which had opened at ll01 llo4, ad.
vanced to 1lo7S. This figure brought great
deal OF long gold end the price settled back to l1oS
1904. The small line OF exports Tor the past few
weeks and the frmness OF foreign exchange have
! forced large shipments OF specie, and hence the
speculGtors for rise found the market sensitive to
, their manipulation. At the same time large
amount of coupons may be expected by the steam
| ers from Europe arriving toward the close OF the
month. aud In tho uncertainty as to whether they
| are TO be paid Tor with coin by fresh ship
| ments OF government bonds the foreign exchange
bankers SHOW no disposition to reduce their rates.
AS to the present "bulr' speculation there is Of
course reason for believing it more than tempo
rary, for the Treasury VIII disburse III few weeks
| about eighteen millions in payment OF the May
interest OF the pubic debt-a contingency likely to
! interfere with such a movement II prolonged so far
| The engagements OF specie reported this afternoon
for to-morrow's steamer amount to $l,26o,o 600.
| THE NEW LOAN.
The additional Subscriptions to the new loan re.
ported to the Treasury Department to-day amount
to $4,000, making the total subscription to date
| sos, ,75o.
! GOVERNMENTS STRONG AND HIGHER.
| The government list was directly affected by the
advance IN gold for the tn lat the street and
public, since the Offering Of the new loan falling
utO the habit Of looking governments likely TO
| be redeemed In gold at no very distant day. The
effect of this influence was the more operative on
| account Of the drmness of lve-twentes In London
where the '62s quoted to-day ex-coupon (euuv-
alent to about "a per cent sterllng), bringing them
down to soa a 9)9s with sales at the intermediate
sixteenth.
STOCKS ACTIVE AND RAMPANT.
Az the Stock Exchange the day was characterized
by the greatest buoyancy and activity In fact the
dealings were The largest Tor any day since the nau-
guration OF the present extraordinary Dul cam
pagn, There are perhaps as many as a dozen we'll
organized cliques in the market ranging In power and
wealth from the heavy guns OF the Vanderbilt party
down to the small fry who form the pools In Mariposa
and like ow.priced stocks. Moreover the speculative
mania Is spreading throughout the community, and
not only are the ELAINE ducksn and veterans of many
campaign back in the street again, but hundreds
whose faces are new to the Long Room and brokers'
Offices. The upward current OF prices assumed new
strength under the continued operations Of the
chQues and the large purchases or outsiders.
The 'bears" shake their heads and point to the
imitation OF prices, bat all to no purpose
for every venture they make In hopes Of q break
turns out futile and loss. The outsiders whom
they argued into realizing weeks ago. nnd that they
have sacrificed great deal OF money by selling at
that time. In fact the rise has been SO STEADY and
prolonged that spectators have in many instances
taken profit OF few per cent, only 10 buy back at
higher price and sell out once more and return
at still higher stage, netting ten per cent
when they might have got twenty. The highest
prices OF The season reached to-day in the case
OF New YORK Central stock and scrip, Northwest
common and preferred, Lake Shore. Wabash Read
ing, and Ohio and mississippi Western Union Tele-
graph, IN which the short interest had been nearly
closed out, was manipulated for the purpose Of
a frosh npn
with reference to Ohio and Mississippi led
10 SCOOP" tins afternoon, and q sud-
den dropping OF toe two stocks Just named
In fact, the whole market Is under control OF the
cliQues now that all danger or a spring stringency
In money has passed by ana that the summer pre-
sents a clear field FOR their operations There win
be no end OF rumors Of extra dividends and favora.
BILE ieasings. II the cques own the stocks and the
public ont of them dividends and leases VIII
be made II the public get the stocks at high prices
the dividends and leasinss will be indefinitely post
poned.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest
prices OF the leading active stocks during the day.
Highest Lopest
New York Central consolidated ...... 97I OF
New York central scrip............. 81 83S
Harlem. ................. ...... 1881 123
Erie. 2Jss 20i5
neauuR .''.'...............'... IVA 1855
Lake snore ................-...... l0bla 1879
WaDash. ........................ ga b2I
IAtSDuTR... llf4 Ilbix
northwestern. OBSERVATION-DISCLOSURES. sos 1914
northwestern preferred. IS OK