The New York herald., 1871-08-21
FINANCIAL And COMMERCIAL.
WALL STREET. I
SrNDLH. AnOuaf % IRTI L

|
The advent or the fall trade, aud during the past
! week considerable activity was perceptlbe Our
| Oat-0i-tOwn merchants are getting into the habit
OF taking the watering places en route TO the me-
| trOpoits for brief sOJOurn preliminary 70 their
! visit here. and many such are now at Saratoga
Long Branch ana other resorts, from which we may
soon expect quite an nux OF buyers. A is,
are already q great number IN town, as shown by
| the registers OF the various hotels in the cty.
THE WEEK IN WALL STREET.
Although there has not been much enlargement OF
business at the Stock Exchange OUTSIDE OF few
speciatIes which were the subject of speculative
movement, the week has furnished many features
OF interest both in stocks and gold. The or
prices has SHOWN considerable irregularity a. 4
consequence of the subsistence OF mucn Of the en-
thusiasm which greeted the arst reports OF rhe
success OF the new loan in the hands OF the Syud-
cate. The first reports OF the organization OF the
Syndicate were construed, 1t Will be remembered.
TO imply that the remainder OF the 5000, 900, 400
five per cents had been subscribed for, aud
stocks took sudden rise. Later 10
was discovered that the SyDdicatcs mad IN rcal,ty
agreed TO subscribe for only SIS, 900. but ex
pected to be able 10 promptly place che remainder
1t was the disappointment occasi0ned bv this cx-
PLANTATION that led TO sudden cessation OF the rising
movement on the Stock Exchange. The chief in
terest centered Pacific Mail which, AFTER ad-
vancing to 52a, suddenly fell to 49ii on bogus
port that the steamer Henry Chauncey had been
burned or the Virginia coast The stock was sold
in enormous quantities by parties who had been
furnished with this Intelligence the conradlc-
pon of tho report started rapid and ter
ried the short interest that the clique were able TO
unload great portion OF the stock which they
mad bought at lower prices. an even.
tual decline to 4sA occurring before the
close Of the week The Western Union movement
took fresh but shOrtlived lease OF activity and
advanced the stock to 62a. but seemed content
then to let the price take care OF itself. At the
close the bulsh sentiment less confident in
view OF the unfavOrable character or the bank
statement, aud Saturdays dealings showed con-
siderable pressure to realize. Beyond the points
enumerated the general list calls for little conf
ment. The new loan was brought up again as an
influence on the market by reason OF cable de-
spatches announcing heavy subscriptions In ad-
vance OF the formal opening OF the books next
week; but the feeling at the Stock Exchange
seemed to take 1t with much Indifference particu
larry after the publication Of the bank statement
The ''squeeze' In gold has been made more rigor-
GUS, and the combination credited with controlling
the available com In the market exacted as high as
4 o! one per cent for The OF balances in the
daily deliveries The alternative presented to the
"shOrts" OF covering or paying these rates led to
buying movement on their part which advanced the
price to l13h-a figure not maintained, however,
after the advertisement Of the intention OF the Trea
sury Department to prepay the september interest,
beginning next Tuesday an arrangement which In
connection with the usual weekly sale of government
treasure Will compel the "bulls' to take care OF
about $7OoOOoo gold the ensuing week or default on
their corner In the Gold Room. There was also q
less firm feeling on Saturday when 1t ascer-
tanned that the weeks lmpOrts-Of general merchan
disc were not prOpOrtiOnaely as large as those OF
dry goods, which, being unusually heavy induced
the impression that the total imports would be at
least two millions more than the figures
ported from the Custom House Saturday morning.
THE BANK STATEMENT.
The weekly statement OF the associated banks
proved quite unfavOraOle The specie has run down
about three millions, In consequence OF the
heavy customs payments imported goods.
and the legal tenders have fallen over two
millions exhibiting the shipments oil currency inl
tiating the Iall movement TO the West and South.
The loans, on the other hand. have been expanded
two millions, and the deposits consequently show
decrease less than the total loss In specie and le-
gal tenders. The surplus reserve is impaired to
the extent Of s4,23s,427, ana Is now down to
$10l3l,O ,O5O The statement contrasts with It's pre-
decessor follows:-
august IL. august 10. ChaR0es.
Loans $500, oo8s7 $500 5s7,429 Inc. 81 1870
Circulation. 3o,2s5, 400 so,2i7,552 Dec. s7'S57
Deposits. 25 245.2SO 247257,47O Dec. 3,9s7 $50
Legal tenders 7239O 400 70098, 500 Dec. 2,29l 900
THE MONEY MARKET.
The rate for money on call was a per cent
until the very close on Saturday, after the bank
statement, when few late borrowers paid
per cent cheeriully, and where they had recourse
to the trust companies as high as 4 per cent.
Accounts, however, had been generally made up
before the bank statement appeared. SO that
some allowance Is to be made for the disadvantages
under which borrowers sought accommodation.
Prime paper was quoted at s a IA per cent for the
several varieties.
Foreign exchange was demoralized aud the lead
ing drawers lowered the asking rates to os1s for
siXtyday sterling ana 1893. for sight bills,
OF the former being reported as low lOs9. where
the gold was paid In hand.
THE COURSE OF THE GOLD MARKET.
The extreme fluctuations daily in the price OF gold
during the week were as fOllows:-
1.I.a