Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1872-11-12
nATHsT nrAEEkmuz,
VIEW YoRx STOCK MARKET.


NEW York, Nov 1.-THE great calamity at
Boston was the topic of discussion throughout
financial and trade circles. Many conservative un-
derWriters place the loss at Sl5OOOUJJ, and lnsur
ance at $4,000 900, of which fifteen or twenty mil
lions are borne by British companies, in which,
since the Chicago fire, many American companies
have reinsnred, with the knowledge Of the fact
that government is ready to throw all its power
against the panic, caused by this enormous loss
have less effect than many anticipated. The values
of merchandise have been advanced TO 20 per
cent BOetOn men are already here making spac-
lions, and accommodations for tents TO be erected
on Boston common for the sale Of goods The con-
dition of the Boston insurance companies is in
volyed in much doubt, though those familiar with
their conservative policy believe that they VIII not
all Succumb. The destruction OF 100000 pounds
OF wool, stock Of 100000 suits of clothing aud
eastern Canada and the northwest, has caused an
advance here of cents per pound, while heavy
domestic WOOlens have advanced over 30 cents per
yard Blankets faunels and shawIs seek an adj
vance of 10 per cent. Cofiees rather excited, the
loss Of two or three large grinders and others, in
Boston, removing 2l,JO0 bags from the market.
Some 25000 half chests of tea, largely Japans and
OOlongs have been destroyed, and measUrably re-
heve the market here. The condition of Wall
street turns on the action OF the treasury depart
ment, whose action is not yet decided upon; still,
however, 1t is reported that the greenbacks deposit
ed with the banks by the treasury early in October
will be allowed to remain for the present. Money
active and stringent, advancing from per cent per
Gunum to Onequarter cent per day, with the closing
business al one-eighth per cent. Sterling dull and
W
sight Fears are entertained of a liberal supply Of
insurance bills on London. Gold opened firm at
Has ia 4. but afterwards became heavy and de-
clined to ll33S the most of the business being at
1l3@ 113%, closing at l1S1s 1l3&. Loans at 4 Il
per cent. 10 Lie per day. Cleanngs $4,000 OC0.
Treasury disbursements S330000. Governments
declined L n x per cent, closing nrm. State bonds
dull and heavy. The effect of the Boston calamity
on the stock exchange was very decided Mt
cent below those of Saturday, followed bya deeiue
the opening. when the prices We're . a 5 per
of I per cent before the first call Under heavy
pressure to sell, Pacific Mail fell to 81, Rock Island
TO HOE, Northwestern common to i74 Ohio to 40}z,
Lake Shore to S3}3, Y. Central to 49, Erie to 1870
81 Paul common to 81, Wabash to 65, Western
Union TO p, Columbus, Cincinnati and Indiana
central to 20, and Union Pacific TO 302I. The de-
preston soon after succeeded by firmer feel
ing, and rally in prices Of l to 81 per cent.
Later there was reaction, averaging per cent on
the entire list; but after the O'Clock board the
whole market rallied further | a 2 per cent. The
latest dealings were characterized by q heaviness
ana a decline of z a IL per cent, the natural com
sequence of a Strengthened money market and the
uncertainty In regard to any operations by the
treasury,