The New York herald., 1872-10-12
FINANCIAL and COMMERCIAL.
Money Easy and Album
i .a4 dant.
The Closing Rate for Call Loans
8 Per Cent.
BRISKNESS In TRADE CIRCLES.
Activity Of the Dry Goods Business Since the
Election Result in Pennsylvania.
Wall Street Watching the
Foreign Markets.
The Bank of England Rate and
the Money Rate in London.
Is THERE A DISCREPANCY ?
Advance in Foreign Exchange and a
Rise and Fall in Gold.
The German Bankers Buying Gov
ernment Bonds.
THE SPECULATION IN PACIFIC MAIL.
Newly Organizing Cliques and Pools in
IS tho Stock Market.
Is THERE A DISCREPANCY I?
Advance in Foreign Exchange and a
Rise and Fall in Gold.
The German Bankers Buying Gov
ernment Bonds.
THE SPECULATION IN PACIFIC MAIL.
Newly Organizing Cliques and Pools in
the Stock Market.
WALL STREET.

FRIDAY, Oct. 1l-6P.M.)
On 'Change to-day cotton was active and firm,
closing with an upward tendency. Flour was
steady and wheat and corn were firm.
THE DRY GOODS IMPORTS.
The imports Of foreign dry goods at this port dur
ing the week ending October 10, 1872, were
81, 40S, ,040 The amount marketed was 81, 710,077.
MONEY EASY.
The money market was easy, and in view of the
Treasury disbursements this week and the restora-
ton to circulation Of the large recently locked
up BY the operators at the Stock Exchange favor
able bank statement is looked for tomorrow. The
rate on call ranged from down to per cent, large
balances being offered at per cent at three o'clock
without takers, and going over unemployed. There
ts an improving feeling as regards
MERCANTILE PAPER,
especially as the virtual settlement OF the Presi
dental question in favor Of President Grant by
the result in Pennsylvania has given wonderful
impetus to trade generally and to the dry goods
business particularly, the merchants In the latter
line reporting o unanimous falling to Of buyers,
whose hesitation disappeared with the news In
Wednesday mornings papers. In fact the season
Il month earlier than 1t would have been had the
settlement OF the Presidential issue been de-
Cerred until November.
.e.s FOREIGN EXCHANGE
advanced another one-eighth per cent, and the
leading drawers OF sterling now ask 1887 for sixty
day and l1oh for sight bills, but allow generous
commission to buyers OF round amounts. These
T rates are Just on the level of the specie
shipping point, and II persevered In may
lead to an export OF specie next
week. Indeed q moderate shipment may be
made tomorrow. The consolation afforded by
this condition OF the foreign exchanges is the Inn
petus 1t gives to exports of domestic produce cot
TOR and
ls at the same time relatively firm. Indeed, it may
be termed
A FoRruTTous CIRCUMSTANCE
Tor the exporting merchants generally that they are
able to md SO ready market as the rates of gold
and exchange AFFORD them just now, more particu-
iarly the light and diminishing lines OF imports
DO but little injury the other way. The following
were the quotations at the close e:-Sterling, sixty
days, commercial, 10s q 1os1s; do, good to prime
bankers, 1os,s 1881; do. short sight, 10Y q
tl0N; Paris, sixty days. 5.32ls a 5.27a; do, short
sight, 5.23X 5.221; Prussian thalers, 71H o u;
Antwerp. 5.27X 522h; Switzerland, 5.264 q
SAX; Hamburg, s5,s a5X; Amsterdam, ss3 q
l0N; Frankfort 4o1< AK; Bremen, 94al a 951S.
THE LONDON MARKET
shows little reaction in fve-twenties which are
back to where they were before the Bank Of England
raised the discount rate, but no lower. The street
rate for money In London is varousy reported,
some early dispatches putting it nearly as high as
the bank rate, while late report this evening, the
authority OF which is not well defined, says that
there was q relaxation this afternoon to AZ per
cent. The latter seems partially confirmed by an
advance OF 0ne-eighth In consols and one-q quarter
per cent In Eres United States bonds being steady.
The dow OF bullion is evidently in the direction OF
Germany, for the loss Of a773,OOO in the Bank OF
England for the week Is supplemented by loss OF
100000 francs in
THE BANK OF FRANCE.
1t quite probable that the easier feeling reported
In London this afternoon is due to o knowledge OF
the advance OF the rates OF foreign exchange in
this market and the stop put thereby to any i'm
mediate prospect OF q movement OF specie from
England In this direction, as was invited week or
90 since, when sixtyday sterling bills sold at 1865
for cash. AS for the European current OF specie
now appears that the terms Of the subscription to
the French loan tempted many to pay less rate in
cash than was asked on time, and thus caused
more active demand for money than had been
counted upon when 1t was thought the loan would
have been paid for gradually. The greater pros.
perity OF the industrial interests Of Ireland and
Scotland has also made greater need for money
CHS Fall In those countries.
THE RAILROAD BONDS.
The following were the bids for the railroad
bonds:-