The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-06-03
FINANCIAL and COMMERCIAL.
WALL STREET, I
EpYDAy. .Iune o-fj r. M 4

FRIDAY, June 10 L. NJ.
On 'Change to-day wheat opened firm, In SYM
patty with the advance In gold. but closed heavy
and dun. Cotton was steady and without essential
change except in contracts for future delivery,
which were at better prices.
TIE DRY GOODS IMPORTS.
The imports OF foreign dry goods at this Port for
the week ending June l, 1871, amount to S2o66,oS5,
The entries for consumption were s1,40s,349 ware
housed, $567 1885, and Withdrawals from warehouse,
ss56,sso.
TIE NEW LOAN.
The additional subscriptions TO the new loan re.
ported to the Treasury Department. up to noon TO-
day amounted to 100000, making the total SUBJ
scription and conversions to date 65,047o5o.
MONEY TWO TO FOUR PER CENT.
Money continued easy, but lenders make dis
elimination against stock colaterals, on which the
rates three to four per cent, while upon govern
ments they are two and three per cent, the supply
at three per cent being unusually abundant. There
was nothing new in the discount market and rates
for prime paper range from " to 61s per cent.
FOREIGN EXCHANGE FIRMER.
As usual on the eve Of steamer day, there was
rather more doing in foreign exchange and rates
were hrmer, although nominaly unchanged, the
great frmness consisting In the allowance OF less
brokerage. To-day the concession was only one
sixteenth per cent. against one-eightn per cent pre-
vlously. Rates closed 1loA l1o3S for prime bank
ers' sixty-day sterling and 110I a 1909 for sight
bills.
GOLD sTRoNG-112S 112'S.
The clique in the Gold Room continued their
operations to-day, and moved the market up just
one quarter Of one per cent-a scale Of daily adj
vancement which appears TO have been agreed upon
as portion Of the programme. The rise was not
maintained to the Close however; for the foreign
bankers sold very freely against the export OF
United States bonds to London, where their
price has advanced u u per cent since
yesterday. The clique give out that the
merchants OF this city are ''snort" OF eighty to
ninety millions Of gold the result OF borrowing from
time to time in making their settlements with
Europe, and that this enormous 'short' interest
affords a fine basis for an upward movement. II
these representations be true the situation is GER
talnly one which can command little sympathy for
either side. The merchant who borrows gold for
delivery, IN place or doing his business
at the market rate of gold, enters
the list Of SPECTATORS and, therefore, subjects him.
self to the risks likely to attend such way OF con-
Quoting his business Were ii not for what is known
as the "short" interest in gold there would BIO no
temptation to clques to start these speculative
operations for rise. Without 1t the market would
DRIFT to It's normal position The present combina-
ton Will find little sympathy among the outside
public, for speculation in favor OF higher gold is
gradually losing power. just year ago clique
made movement precisely similar to the one now
on foot. 1t resulted in their bankruptcy. few
months arterward the Franco-Prussian war broke
out and the sudden fall Of our bonds In London to
&c sent gold 1881, but too late to help the clique,
who had meantime bursted up. Even with this ex-
traordinary influence underneath it god rose less
than IL per cent. But the movement Will prove an
interesting relief to the recent monotonous
working OF the gold market, and will be
hailed with great satisfaction by the gold brokers,
whose orders the past few months have been hardly
sufficient to purchase the saline condiment requisite
to their farinaceous panquets. The course Of the