The New York herald., 1872-11-14
FINANCIAL and COMMERCIAL.
/ Further Rise and a Subsequent
Fall at the Stock Exchange.
OPERATING FOR "a TURN"
The Professional Spectators Plan
ming for Reaction.
A SAMPLE OF BOSTON "sPUNK."
The Victims Of the Great Fire EXclaim
Against Treasury Imitation.
They Want Cheap Goods, Materials and
Labor in Rebuilding Boston.
Mr.. Boutwell, Urged to With
held His Greenbacks.
GOLD OFF TO ll3 l-2.
Money Easier-G Governments Strong and Higher
Favorable News from London-Gossip
The Victims Of the Great Fire EXclaim
Against Treasury Imitation.
They Want Cheap Goods, Materials and
Labor in Rebuilding Boston.
Mr.. Boutwell, Urged to With
held His Greenbacks.
GOLD OFF TO ma I-2.
Money Easier Governments Strong and Higher
Favorable News from London Gossip
About Georgia Bonds.
WALL STREET,

WALL STREET,
WEDNESDAY, Nov. 1876 p. NJ
On Change to-day quite large business was
transacted in cotton, but for 'spotn and culture"
ast slightly better prices. Flour remained dun, but
unchanged; wheat was heavy, but not qu0tably
lower, and corn was easier.
BOSTON INDEPENDENCE.
Washington despatch says that the Boston
merchants have telegraphed to Secretary Boutwell,
requesting him not to issue any Of the reserve Of
greenbacks This Is only natural. The wealthy
merchants Of Boston wish to buy goods to replenish
their stocks. More greenbacks would innate
prices. Men with money are opposed to innatlon
Men with goods and property desire imitation
Such is human nature.
TREASURY OPERATIONS
The offerings Of bonds at the Sub Treasury at
hoon to-day amounted to $780, $50, at prices rang
ing from 1890 to 113.47, gold being 113H. The
ceptances were confined to million, which amount
was obtained at 112.4O 1925. The acceptance Of
only million was much commented upon In view
Of what had been expected Of the Treasury Depart
ment this week. The petition OF the Boston mer-
chants may have had something to do with It, but
regret is felt that Mr. Boutwell, did not take advan
tage Of chance, not often presented OF buying so
many bonds offered at par in gold or under.
THE FOREIGN MARKET.
The advices fr0m abroad continue satisfactory,
although rum0r was current at the close that the
Bank Of England would raise the discount rate to
eight per cent in the morning. kilograms from the
Continent report the exchanges again in favor Of
London, while London quotations show further
advance OF one-eighth per cent in dve-twenties
continued drmness in consols and rise OF 1H per
cent in Eres which last closed at 39H against 371S
ON Tuesday.
Foreign exchange was dull and about steady but
hardly so firm, and was quoted on the basis OF 1887
1OSx for actual business in prime sixty-day ster-
ling.
MONEY EASIER.
The money market was easier, although quite
active during the greater portion OF the day. The
earliest dealings in call loans were at per cent
currency to per cent gold and good many
renewals were made on these terms, Toward two
O'Clock the inquiry increased, and borrowers In
the interval between two and halfpast two paid as
high as one-eighth per cent for the day, but the
supply became better again, and before three
O'Clock the rate had declined to plain per cent.
The failure OF dry goods commission house, doing
business In Boston and New York, was announced
this afternoon Mercantile paper was neglected
but still quoted at q 10 per cent discount with
pome small transactions at 10 per cent.
GOLD FEvERIsH AND L0wER-1l3A A 113H
The gold market was feverish and unsettled in
consequence OF conflicting and changing views
Of the Treasury intentions and modified ideas as
to specie shipments The early announcement
that the steamers had taken out only 100000
specie against $1,4OO,0o0, the latest engagement
Of Tuesday evening, $5oo,ooo having been with
drawn this morning. caused decline to 1137i.
Later In the day when 1t was known that the
Secretary Of the Treasury had bought only mil
lion Of Avc-twenries-a proceeding implying that
he would sell only q million Of gold tomorrow
there was an advance to 113a<. Still LATER on the
announcement that the Boston merchants had
petitioned Mr.. Boutwell, not to issue any more
greenbacks,
THE SUGGESTION OF CONTRACTION
thus made started o decline to l131l, the market
closing eventually at 113h on the discovery that
the specie engagements for tomorrow footed up
e1,o ,o00,O 900. The course OF the market, which in
these several fluctuations was also Influenced
more or less by the Items from London already
adverted to- is shown In the following tablet