The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-09
FINANCIAL and COMMERCIAL.

WALL STRBBr, l
THURSDAY. Feb. Sep M.
On ,ChanRe to-day wheat was duh ana strong.
The cotton was quiet and a shade lower.
MONEY IRREGULAR.
The money market was active, and the dealings
during the usual hours for making up accounts
were al per cent on governments and at to 7.
CON- on stocks. Before the close or banking hours
q number OF brokers who had SOLD out stocks yes
terday In the excitement then prevailing found
themselves with large balances over which. IN their
hurry to employ they loaned att per cent.
Prime double name commercial paper was quoted
a per cent discount, but the market was In
active.
Foreign exchange was steady and quotations re-
NAMED unchanged. the leading drawers asking
lo9H for sixty day sterling losx for sight bills.
The latter were moderately active and nrm at the
rate given.
GOLD srRoNG-1lOH A Il0X
The gold market opened at an earlier hour than
usual such was the Anxiety OF dealers in connection
with the current agitation az 10 the prospect OF
quarrel between the United States Great Britain
The first sales took place early as quarter past
nine O'Clock, when $50, 900 changed hands at IlOx.
From this point there was an immediate advance
to llox-the first regular quotation at the
Board-and thence to 1IOa5 following the nrst
cable despatch from London showing consos
down to DIX, '67's down to Ok ana the new fives
down to s6x. Coupled with these figures was
the announcement OF general decline In English
railway shares-all indicating crisis In the London
market. The difference In time between the two
cities allowed ample opportunity for the above fiuc
tuatIons In gold before 1t generally known here
what mad been done by the directors OF the Bank of
England at their usual weekly meeting this FORE
noon. Accordingly. when II was reported that the
discount rate had been continued al per cent the
impression spread here that we had exaggerated
the real situation In London, and gold fell back to
HOY, and showed considerable unwilltngness to
60 over HOY again. especially after the government
SALE which had evoked bids for less than So OOO
small amount TO be wanted In such time. But
as the cable continued to bring low prices from the
other side, and finally closed the London market at
the lowest figures OF the day, gold took fresh start
and moved up to 110H, the excitement growing
with each turn OF Mersercau's dial When, as usual
under such circumstances, the price seemed
''never 10 be going down any more" cable tele-
grams reported the popular mind In England to be
more settled and the feeling In business
circles at the close to have beeen more
confident OF a peaceful solution OF the
present dispute between the two countries.
AT the same time rumor got afoat. traceabIe to no
authoritative source, that the Washington govern
ment had expressed a Willingness to settle the
whole claim for damages. direct and indrect, for
the fixed sum OF $50, 600. 900, which assisting the
natural reaction OF the market induced decline to
1lO% again, at which the latest sales were made
The course of the loan market as anticipated has
verified the general conversion Of the "0ears TO
opposite speculative feeling so that, considering
the unanmry OF the "bull" feeling to-day, the rise
in gold has not been remarkable. The Of the
market ia shown in the tablet