The New York herald., 1872-11-22
FINANCIAL and COMMERCIAL.
AFurther Improvement in the
sap London Money Market.
The Bank Rate Unaltered, but
the Street Rate Easier.
COnsOls for Money a Quarter
Per Cent Higher.
ADVANCE I'M FRENCH RENTEs.
The Gold Clique Threatening
Another Squeeze"
MONEY STRINGENT AGAIN.
The Rate on Call Closes at q
Thirty-SecOnd Per Cent.
THE NORTHWESTERN CORNER"
The Stock Advances to 100 and
Cieses at 80.
DANIEL DREW JUGGLING WITH ERIE.
A New Issue of st. Paul
Common Stock.
4sreign Exchange Firmer-G Government Bonds
stsady-Tennsssess Higher-Ths
Treasury Sale Of Gold.
The Stock Advances to 100 and
Cl0ses at 80.
DANIEL DREW JUGGLING WITH ERIE.
A New Issue of st. Paul
As Common Stock.
3seeign Exchange Firmer-Government Bonds
-Tennsssess Higher-Ths
Treasury Sale Of Gold.
WALL STREET,

WALL STREET, I
THURSDAY, Nov. 21-6 P. NJ.
On 'Change to-day cotton was In moderate de-
mand ana 10. per pound higher. Flour was active
and hrmer. Wheat and corn were hrmer, corn
closing at an advance.
THE LONDON MARKET.
The Bank Of England made no alteration in the
discount rate this morning, which remains at per
cent; but our special advices by cable report the
Street rate ior money easier than the bank rate,
and tho fact is strongly confirmed by the quota
ta0ns for consols this evening which show an ad-
vance OF 4 per cent in transactions for money and
4 per cent for the account. The bullion account OF
ksgr THE BANK OF ENGLAND
exhibits an increase for the week of a1 ,1S4,OO0-
equivalent TO about 5000, ,ooc-showing that the
bank gained specie from other sources than the
United States. Last week the Bank of France
gained million francs. The report for this week,
which is due tomorrow, win be interesting as
revelation Of how much Of the gain this week in
the Bank OF England comes from the Continent,
ana from Germany more particularly. Five-twen-
ties and the Ave per cents were u 4 per cent
better and Eries active, with rise to AK and
relapse 70 ak. The reader is referred to our
special cable reports or the London money market
THE GOVERNMENT SALE OF GOLD.
There was larger demand for the government
gold than was anticipated, the amount bid
for being $3,s6o,Ooo, against 100000 Of
fered for sale, the prices submitted rang
Ing from 1928 to 1920. The bids were
telegraphed to Washington, whence orders were
received to limit the sale to the amount advertised
which was awarded accordingly to the highest
bidders-viz.. at 1890 1918. In view OF what
subsequently transpired in the Gold Room IL is
thought that many of the buyers were acting in
connection with the "bulln clique In the gold mar
ket.
t8 MONEY STRINGENT.
The money market recurred to the condition Of
strngency prevailing before the extra purchase OF
Ave-twenties on Wednesday last--a transaction
robbed Of much OF its innuence by . contem.
poraneous order for the withdrawal of twenty
(n0t ten) per cent Of the government money lying
on deposit In the Bank OF Commerce and Fourth
National Bank, the amount so called and paid into
ehe Sub-Treasury being nearly million and
quarter dollars. The result Of the Treasury opera.
tions OF the week has been apparently against the
banks to the extent OF hundred thousand dollars
or 90, considering that the draft upon
THE GOVERNMENT DEPosIToRIEs
end the payment for the million OF gold sold to.
day will take nearly two aud half millions OF cur.
rency out Of the street against the two and quar-
ter millions and over paid out for the purchased
Ave.twenties. II should not be forgotten, however,
that, with all this backing and filing in the cur
Eency Of the banks they gain the reinforcement for
their reserves Of every dollar OF the million of gold
sold to-day. The real result may be summed up as
foll0ws:-The street has two millions OF bonds less
and million Of gold more than 1t had last Tuesday.
The rate on call opened at per cent coin and ad.
vanced to 1-S2 and interest, equivalent to about
as per cent and closed at l-s2. This stringency Is
PURELY SENTIMENTAL.
Yesterday when the government accepted two
millions OF bonds and before payment was made
foIlS n No lnv
cause 1t was thought that the extra purchase had
been neutralized by the call upon the government
uepositories money hardened to stringent rates
again. Mercantile paper was neglected, but quoted
as before. Foreign exchange wss frmer on the
easy terms for cash gold and closed on the basis
OF 1oex q 1881 for good TO prime bankers sixty.
day sterling and 1924 110h for sight bills. The
Aurry In cash gold .'f0r tomorrow came too late
TO sHect these quotations An abatement Of the
French crisis excitement Is indicated by the quota
tion Of 5297 for rcntcs tonight against 5260 last
night. ,.u.,,,,,u,,- .,..,
The government bond market was naturally
nrmer in response to the higher ruling of the gold
market, but without Q corresponding advance in
quotations, discrepancy which is not readily &C.
counted for unless on the theory that there
was Q lack Of confidence In the rise in
gold. The following were the closing quotations =
United States currency skies, 1l31s 1l3I do do,
lssl, registered, 115t lle,s; do. do coupon, 1854
allox; DO. nve-twenties, registered. May and No
vember 112K . ll2x; do. do, 1862, coupon. do,
ll2k ii2x; do. do, 1894, do do, 1i2k 1i2x; do.
TO-, 1896, do. do., 112x 11s; do do, 1867, regis
tered, January and July. 1l5 ll51I; do. do,
asos. coupon do, lis 115jf; do. do 1867 do. do,
l1sK 1l5K; do. do, 1865, do. do, 1l5 115k;
do. ten-forties, registered, 1917 1885; do. do,
coupon, 1osK . los,i; do. nyes OF 1881, registered,
iooX llok; do. do, coupon, 1904 1los
THE RAILROAD BONDS.
The following were the bids for the railroad