The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-26
FINANCIAL and COMMERCIAL.
WALL STREET,
TUFSDky. Aprll 25-6 II. NJ.


Z WALL STREET, I
| TUESDAY, April 25-6 p. Nj
on 'Change to-day wheat was inactive, and, on
the prospect OF increased receipts by the opening
OF the canals, heavy The cotton market was better
and firm.
MONEY FOUR TO SEVEN PER CENT.
/ Early in the day there was considerable hesita.
ton among money lenders owing to the decline in
prices at the Stock Exchange. which led TO closer
scrutiny OF collaieras and some shifting OF loans.
Borrowers, who were unwilling to take the chances
or more active market, later in the day sup
piled themselves at seven per cent, but
found accommodation plentiful at this rate.
At the regular time for making engagements,
however. the rate on stocks proved to be six per
cent. with some exceptions at i've per cent On
governments there was pressure to lend at i've per
cent, and many borrowers on this class OF security
provided for their wants at four Prime commercial
paper was in request at 90 o per cent.
Foreign exchange was steady at 1o97s 10 for
prime bankers sixty day sterling aud 1l0S for
sight bills.
GOLD srEADY-11oA Ill.
+ There was rather more activity in the Gold Room
but, on the whole, steady market The earliest
impressions favored rise on the rumor OF a specie
shipment tomorrow OF over a million dollars. and
the price advanced from 1104 to Ill. Later in the
day the engagements OF specie were found not 10
the last price being 11Ol.
THE EXPORTS OF THE WEEK.
The aggregate amount of exports exclusive OF
speciel from the port OF New York for the week end
ing April 25 was s5,leS.7as
GOVERNMENTS HIGHER AND FIRM
The government list was temporarily Influenced
by the report OF heavy market in London, occa-
stoned by cable adylces OF the excitement and de-
cline on the New FORK Stock Exchange, but AFTER
ward became strong, and finally on the closing,
ease OF the money market advanced fraction ana
closed firm. The government paid out million
dollars coin to-day for interest in advance upon the
public debt. Tne amount OF May coupons already
prepaid Is therefore 2,8o0, 0O0
ANOTHER DECLINE IN sToCKs-A REACTION.
The endurance and patience OF the smaller specu.
lators for rise at the Stock Exchange were again
severely tested by the cliques who in operating for
revived ''short' interest, gave the market fresh
drop The street had, however become some
what accustomed to the crucial process and took
the matter with comparative serenity, although the
reduced quotations were q Turkish bath IN pro-
ducing coplous persp1ratiOn among those whose
property was undergoing such rough treatment.
In fact the excitement at one time was intense,
despite the courage which the street had called up,
and the features Of a panic were decidedly marked
when Lake Shore ratified down to 1861, Ohio and
Mississippi to 81 and Northwest to S31a. The clique
in the last mentioned stock are generally credited
with the mischief OF the past two days, only por-
ton Of the blame being attributed to the other
pools, who are supposed to have parted with only O
portion OF their stock In carrying out the plan for
getting in q line Of Shorts" AT least
the market had this look further on
in the day subsequent TO the "break" In the morn.
ing. But even at the best figures the market was
feverish and sensitive to the smallest alarm. AS
consequence the fluctuations were frequent and
wide diminishing gradually toward the close, when
a general reaction was established with compare
lively steady feeling. 1t will not be surprising,
however If the cliqnes continue their strategy for
day two longer, and subject the street to little
more OF the Turkish bath. AS II to complete
the picture OF Inconsistencies, and doubtless to
puzzle and confound the outsiders still further,
Western Union was rendered exceptionally firm,
apparently to belle the general theory that the
most advanced OF the speculative stocks 1t ought to
have Its reaction. Perhaps Its wealthy supporters
deemed IT good opportunity to snare and draw In
those who had dared to go short OF 1t on such
principle The pool in Hannibal and st. Joseph,
comprising in great part the returned city repre-
sentaves IN the Legislature, fresh from the capital,
with their pay in their pockets, also made brilliant
movement IN their favorte and carried the COM
mon stock to 1907 and the preferred to 1861 when
everything else was falling about their ears.
HIGHEST AND LOWEST PRICES.
The following table shows the highest and lowest