The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-17
FINANCIAL and COMMERCIAL.
WALL STREET,
SUNDAY, July 10, 1871.

WALL STREET.
SUNDAY, July 10, 1871.
THE WEEK IN WALL STREET
mas been characterized by the undOubted advent OF
midsummer dulaess, and the Stock Exchange might,
without great sacrifice OF business have taken
recess-to he extended until the middlc OF August
so little has been doing and ia likely 10 be done
during the period specified Without the appear
ance OF what could be called bearish feeling the
market has for the greater part OF the speculative
list driited to lower prices, the exciting topic
OF the week being the new issue, and IF
present facts are not cOntroverted, partial over
Issue OF Rock Island, a proceeding which seemed
TO discourage the last hope OF a reaction IN the
shares from the depression OF the recent crisis In
Lake Shore and Ohio ana Mississippi the decline
has been quite Marked and the sales OF these stocks
have made the larger portion OF the weeks Dusi-
ness At one time the uneasiness In the market
was calculated to lead TO consequences but
the easy condition OF money alfording the parties
interested IN the maintenance OF present prices
the means TO hold their favOntes against any
more rapid decline than they chose TO let them
take in the process OF realization, the market became
steady and duh. The exceptions to q lower ten
dency have been Wabash. Reading Harlem ana
Pacific Mail. Otherwise the list mas been only steady
or lower, taking the results OF the weeks move
ment
The gold market declined just one per cent on the
shipment OF large quantities OF oonns to Europe,
the bills drawn against which Occasioned quite a
smart fall In the rates OF foreign exchange re-
at the close was followed by rise Of fully
one-half per cent. In this equp0lse between the
extremes OF the week the market wound up asst
evening.
Governments were irregular and the market
greatly unsettled by its endeavor to find a level
between lower gold here and higher bonds In
Europe The eventual restoration OF steadiness and
strength in the gold market led to quiet and very
strong market OF the close
Money was extremely abu ndant, owing to the
inactivity at the stock Exchange and the general
rates during the week were two and per cent,
| with a large number OF transactions at as low as
one per cent on government collatcras on Satur-
day, when usual that dav at this season, there
Is generally more Willingness to cOncede TO the bOr-
rowers TERMS Prime paper was done III per
cent, and the several grades OF first class notes
quoted a per cent.
| In the State bonds some recovery was noticeable
in the Tenn essees the general list being steady
Missouri skies further advanced to 9sla.
THE BANK STATEMENT.
| The weekly statement OF the associated banks is
slightly unfavorabe. The deposits have increas ed
millions OF dollars against gain in
or only about one million dollars The loans
now up the extraordinary sum OF $500, 000, coo.
The large increase in deposits Is attributed to further
large arrivals in the city of national bank currency,
which is likely to prove u drug and annoyance, as
IL has often heretofore. The gain In reserve Is
nearly equally divided between specie and legal ten
ders. The item OF circulation shows a tr1ing de-
crease. The statement contrasts with Its predeces-
sor of last week as foiOws:-
JutV8. JUtU Is. Ch0HQes
loans $3.50 07s.577 1901, 3l2 233 Inc. 81 263, $50
Specie. .... 1y,445,774 III, 1855, $50 Inc. 81, 500
Circulation. 30,411,S72 3O,3SO,9 6l Dec. 30,9ll
Deposits. 25.3O7, 553 257 $50 294 Inc. 22i,74l
Legal tenders o9,976S25 70,574,S $40 Inc. 59S,051
The banks now nold s1s,544, S43 above the reserve
required by lava gain for the week OF 1857, 800.
LATEST PRICES OF GOVERNMENTS.
The following were the closing street prices of
government bonds on saturday evenmg:-Unlted
states currency skies, ia 14k; do. 1881, regis
tered, 115 1854; do. do, coupon lis 115i4; do.
fve-twentes, registered, May and November
1885 113a4 do do, 1862, coupon, do, l143s
114ss; do. do, 1864, do do, 113S 1879; do do
1865 do. do, 1la24 ia; do. do, registered, jan
uary and July. 112a l23{; do do, 1866, coupon do
Hex 1l21; do. do, 1887, do do 1928 1127s; do
do 1865 do. do, 1929 rs; do. ten-fortes, regis
tered, 1l2 1927; do. do, coupon, 1l2G a I13.
THE COURSE OF THE GOLD MARKET.
The extreme fluctuations daily In the price OF gold