The New York herald., 1872-11-13
FINANCIAL and COMMERCIAL.
PROGRESS Of the Reaction In the
Wall Street Markets.
A Buoyant Speculation at the
Stock Exchange.
A Further and Considerable
Advance i'm Prices.
BETTER NEWS FROM LONDON
Money Easier and American
Bonds Higher.
PROSPECTIVE GOLD SHIPMENTS.
kpeeie from New York to London and Cur.
rcney from Boston to New York.
THE RAILROAD BONDS RAMPANT.
The Herald in the Role of "Old
Probabilities"
my PROPHETIC SOUL, Mine UNCLE"
PROSPECTIVE GOLD SHIPMENTS.
kpecie from New York to London and Cur
reney from Boston to New York.
the RAILROAD BONDS RAMPANT.
The Herald in the Role of "Old
Probabilities"
my PROPHETIC SOUL, MINE UNCLE"

= WALL STREET,
TUESDAY. Nov. 12-8 p. N.
On 'Change to-day cotton was in fair demand
and nrmer Flour remained quiet and steady;
Armer.
TIE EXPORTS OF THE WEEK.
The total exports Of domestic merchandise from
Che port OF New York for the week ending Novem-
eer u, 1872, were $t,365,s2s.
THE REACTION.
The Improvement In the feeling at the Stock Ex-
change to-day was quite marked and the return Of
confidence in monetary circles is about as sud-
Aen as was the extraordinary circumstance that
disturbed II. Even In
THE LONDON MARKET
there are signs OF an abatement OF the monetary
Btrnging prevailing there, for our bonds have risen
kax per cent while consols, after some interme.
aiate weakness, were quoted firm at the close.
The speculation In Eries has been as excited and
1everish apparently rs the general speculation on
this side since Saturday night and their price has
declined to s7X equivalent to 47A in this market.
Probably private dispatches report better prices
tonight at the London clubs, for the last quotation
on this side was about 40.
FOREIGN EXCHANGE IRREGULAR.
The foreign exchange market, while heavy for
teng and active for short bills, was nominaly un-
changed, and the leading drawers continued to ask
1857 for sixty-day and HOY for sight sterling but
sold round amounts at o concession Of y u per
cent. The actual sixty-day rate, 10sk o l0sx, is
below the specie shipping point, and were buyers
{ Sfremittances not 80 extremely cautious there
would be no talk Of specie shipments. The lower
standard Of sixty-day sterling, as compared with
sight, is due to the fact that within the next fifty
days the trouble which causes the present strin-
genCy in the London money market will have dis
appeared with the disbursements OF the new coin
Of the German Imperial Treasury and the payment
Of 90, ,00o, 600 thaers Of the German war loan.
GOLD sTRoNG-l13S A 1l3,s 11375.
The gold market opened weak on the lower rates
for actual business in sXtyday sterling and under
Q pressure Of sales supposed to be for account OF
the agencies OF the foreign insurance companies
which made losses at Boston. The price in the
hrst few minutes of business dropped from 113x
TO l1sX, but rallied and gradually advanced to
113x and closed at 113x on the announcement Of
m engagement Of 81 900 specie for export to-
morrow. The amount TO 60 out was reported at
frst at as high as $1,75o,oo0, and afterward at
81, 600, and It Is not certain that the entire
amount reported ut the close as engaged will be
shipped. 1t would be well not to base any i'm
portant transactions either the export reten-
tion Of gold The absence OF short interest In the
market is one cause OF the small advance and OF
the costly carrying rate. Gold. like water, will
IND
rs TRUE LEVEL,
and Is more likely to rise than fall under specu-
Iative sales, Should the specie shipments reach,
"a some calculate, two or three millions this week.
the relief Afforded the London market will only
eedound to our advantage by stimulating trade
there and giving US quicker market for our cot
ton and produce. II we can only bridge over, in
!. the best and easiest way, the interval to New
Years, when the trouble In the foreign market
will have ceased gold will recede to its normal
price, somewhere in the vicinity Of 1O7 10s. With
the advent OF January / and the absence Of any
intermediate catastrophe, such as . Chicago or
Boston connsgration, the chance for monetary
ease, all the world, is about certain as any
human contingency. The
COURSE OF THE MARKET
ls shown in the following table OF the principal