The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-17
FlNlyCIlL IND COMMERCIAL.
WALL STREET, I
SUNDAY. April 10, 1871. !


WALL STREET,
SUNDAY. April 10, 1871.
The wREK IN WALL STREET.
The anicipauons OF relaxation In the money
market within a reasonably brief period after the
passage OF April ! have not been disappon ted
although the falling in rates has been slow aud
gradual. owing to the greater demand tor money
arising from the greater volume OF business at the
Stock Exchange. In fact, among the stock
houses the rate on call loans has been
nrm at six per cent with considerable
bssiness at seven per cent Some lenders In their
desire 10 place balances suddenly late IN the day,
and disinclned al the same time 10 take the usual
stock collaterals have had 10 be content with four
per cent AS a rule, however, money was nve TO
dx per cent on governments and six TO seven on
stocks The return o. currency from the rural dts
Gicts has set in steady stream. but The fact that
further apprehension was entertained on the sub
sect OF spring stringency induced fresh operations
~ the Stock Exchange on the part OF dealers who
had been waiting for the removal OF all cause OF
anxiety on this account and also encouraged those
already Interested 10 expand their lines The result ut
ne Stock Exchange was week Of the largest busl-
ness transacted perhaps since the spring OF 1869.
Prices kept pace with this increased activity, and
she leading railway and miscellaneous shares
reached not only the highest figures OF the season,
but the highest made In instances in nearly two
years The market resembles in many features that
OF 1863 '69 before the great crash Ill September OF
the latter year. as at that time New YORK Cen
trail was the leading card on account OF che an
nelpauon. and eventually the declaration OF large
scrip dividend, 30 Lake Shore Is now In the throes
and agitation OF similar parturtion; but how soon
the progeny to be Is, like the extra dividend
on New York Central, q mystery known only to
the initiated. Saturday night seemed TO have
been fixed upon by great many as the
ApFa IN wit fha An ha
stock Of Lake Shore, and II the report generally
circulated was the work OF the Clique IL shows that
shey intend to pursue the same policy Of .'milkng
Che street, and binding ana confusing everybody
mp TO the very momen. the thing really takes place.
II, on The other HAND, the rumor was device To get
the street "short again, through very scepticsm
the circulation OF such rumor II achieved its OBJ
tect for the .bears Immediately took fresh courage
ana devoted all Saturday afternoon to putting out
speculative sales induced thereto by the belief that
che clique in starting such a rumor were getting
ready to unload Whatever the real designs OF the
latter 1t is very certain they have no Intentions of
Abandoning their "bul" campaign nor have the
cliques generally. "Milking' is such profitable
operation. however, and the assured ease OF the
money market for the balance or the spring and for
che summer has aroused so widespread speculative
jnclinarion on the part OF the community at large
shat mag look for great deal OF the tactical bust
ness untli the cUQueS ueclle 10 Wlnu up the CAM
paign with grand flourish, preparatory to unload
Eng finally and placing themselves In position
10 demolish the supersruciure OF figures
which they have already carried SO high Not
That there are not good investments in many direc-
tons, even as the market stands Where it ls really
and sincerely the intention OF the clilues 10 pro-
duse dividends where none are now earned, or
where II Is contemplated to enlarge capital as an
equivalent to increased earnings and reduced ex-
penditures-as was done with New York Gen.
tral-the seeker for investments VIII find
o return for his monty. But the dis.
cernment requisite to discover the exact
location OF such attractive investments not given
10 everybody, and hence we think the general public
win have to do they have often done beore-viz..
exert the great American privilege or paying their
money and taking their choice. To those who love
speculation in the stock market undoubted oppor-
runtles are now afforded. The market is likewise
problem for their solution, as, at Its present stage
u IL capable OF baloon-like imitation or bubble
like evanescence.
THE BANK STATEMENT.
As generally expected the weekly state ment Of
the associated banks proved quite favorable. Des-
plte contraction OF four and half millions In
loans the deposits down only about million
dollars leaving the inference that the currency
cerpts from the interior during the week were
about three and half millions. Furthermore, as
The average is rising the situation OF the banks
Is really better than exhibited by the statement,
which is the average for six days The specie item
shows gain OF only 500 600 owing to the large
toms payments of the week. The statement con-
trasts with It's predecessor as follows:-