The New York herald., 1872-11-20
FINANCIAL and COMMERCIAL.
Dontinued Dulness in the Wall
Street Markets.
=.
A Feeble Speculation at the
Stock Exchange.
northwestern EXCEPTIONALLY STRONG
shs New Northwestern Consolidated Loan and
Lake Shere Sinking Fund Bonds.
The Pacific Mail Pool Bracing Up for
the Loss Of the Arizona.
tsUSsIP ABOUT WESTERN UNION.
The Company Proposing Candidate for
Postmaster General in the New
Cabinet Of General Grant.
The Postal Telegraph System In
viting Private Enterprise.
THE MONEY MARKET STRINGENT.
Decline i'm Gold and For.
eign Exchange.
The Company Proposing Candidate for
Postmaster General in the New
Cabinet Of General Grant.
The Postal Telegraph System In
viting Private Enterprise.
THE MONEY MARKET STRINGENT.
Decline i'm Gold and For
eign Exchange.
WALL STREET,

TvEsD AY. Nov. 1916 p. NJ.
On UBange today cett0n was in moderately fair
demand and frmer, closing with an upward ten
seney. Flour was steady. Wheat and corn were
aearer, but in comparatively light demand.
the EXPORTS OF THE WEEK
The aggregate exports OF domestic merchandise
hOm the port OF New York for the week ending
November 10, 1872, were S., 725, ,763.
THE FOREIGN MARKET.
Advlces from London by the cable give Qaota-
Sons down to five O'Clock this evening. Our bonds
we're better and u u per cent higher
until near the close, when they suddenly
Seceded a full quarter per cent, for reasons
which at this writing are not very clear, the
decline being quite in contrast to the quotations of
c0nsOls which were steady throughout consols
.JOr money! showing strength indicative of an
improved feeling in the money market Our own
market does not Oner any explanation, inasmuch
~ gold and foreign exchange were both lower and
governments OF to the extent only of the decline
IN gold. Erics were strong and active.
FOREIGN EXCHANGE LOWER.
The foreign exchange market was depressed by
continued sales Of sterling bills borrowed against
the pledge OF stock collaterals, and prime sterling
sold at as low as 1885, although the desk rate was
1854. The sight rate yielded to ITO for actual bus
ness so that the prospect OF further specie shipments
this Winter is again remote. The following were
fhe quotations at the close Sterling, sixty days.
commercial, 1918 los; do, good to prime bank
srs', 1854 1885, do, short sight. 109zs 11Oh !;
Paris sixty days, 5.371a $50; do, short sight,
G27A 5.25; Prussian thaers, 7Ol 71k;
Antwerp, 5.321s a 5.2614; Switzerland, 5.31l4 a
k26h; Hamburg 35 a 353S; Amsterdam, a97s a
s9X; Frankfort. 4O'S a 4ozs; Bremen, 932s a 94ls.
MONEY STRINGENT.
The money market was stringent but betrayed
symptoms OF clique manipulation, the parties pro-
ducing the tightness being curiously enough the
''buln cliques, whose purpose is either the en-
couragement and enlargement Of the "short' in
terest or the easy purchase OF stocks their own
behalf or both. The rate on call advanced from
per cent coin TO q per cent the latter equivalent
10 45 per cent per annum), but declined to and
closed at 1-32, at which last rate money continued
70 be offered, with per cent coin bid. Mercantile
paper was quoted as before-viz., 10 q II per cent
discount with the business in first class names at
~ per cent
The government viii buy million OF bonds to-
morrow and sell million OF gold on Thursday.
GOLD LowER-113% 49,.
The gold market was lower upon the early ad-
vices from the London market and the decline
here In bills on Europe and continued weak even
after the closing cable reports had brought word
Of the decline in our bonds in London late in the
afternoon. The supply of cash gold was alternately
scarce and abundant. In the morning the rate for
gold loans in favor OF lenders but in the after
A0on turned in favor OF borrowers, variation Oc.
eas0ned in great part by the activity of the money
market The chief fluctuations OF the day are
sbown in the following table,