The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-06-10
The Spectators Exercised as to
the Future.
SATURDAYS BANK STATEMENT
The Closing Results in the Stock
..-,s Market.
"A Further Instalment OF the
City Loan.
WALL sTRHEr,

SUNDAY, June Q, 1872
In the downtown trade the chief feature OF the
week has been the excited speculation and heavy
transactions In the cotton market The "bullsn
IN the staple trade have had the market under
their control completely, and advanced quotations
70 the highest In nearly three years. AS o conse-
Quence Of the ruling quotations Of cotton man.
ufactured cottons have been firmly held, but
the dry goods trade has not been active.
Tho dissattsfacti0n at the character OF busi-
ness this season is spreading. The expansion Of
trade has not been equal to expectations and to the
Investment Of capital. Foreign goods have been
rushed into port In heavy quantities., but have
largely accumulated In bond, owing to the slowness
of the market to absorb them. or course some-
thing Of this hardness In their marketing is attr
butable to the deferment Of purchases until the
new tariff has gone into operation. In breadstufis
1t promises to be 'corn year." and the reaction in
wheat so noticeable the last fortnight is ascribed
to the changing Of foreign orders to the former
cereal
THE WEEK IN WALL STREET
has been quiet and the tone OF the market dull
Its Incidents are almost summed up In the state
ment that gold was unsettled and stocks about
steady. Indeed, the amount OF business daily was
such as justihed the wisdom OF closing the Stock
Exchange at four O'Clock P. N. as rule for the hot
season, into which we seem so suddenly
preotpitated. The money market offered no
variation Of Importance enough to suggest
any new theories as to its immediate
future, and consequently exerted no perceptible
influence upon the course Of prices at the Board.
The stock brokers got their money at per cent,
mostly at the lower rate, and the government deal
ers at q per cent. Prime paper was taken freely
at I per cent discount Foreign exchange left of
on the basis OF 1924 1oo for prime bankers sixty
08y sterling and HOY for SIGHT bills.
The gold market reached, on Wednesday, the
highest point Of the far, viz, 114X under
auspices strongly suggestive of those under which
1t touched last year 115H-viz, the manipulation
Of clique. The pool seemed to realize largely at
The advance as II to make turn anent the gov.
ernment gold sale Of two millions on Thursday, and
were fortunate enough to sell just as the market
was on the eve Of being inherently weakened
BY Q lighter importation OF foreign goods, o
weaker tone in the foreign exchanges and q
concident diminution Of the exports Of SPECIE the
price by Friday going OF to 1879, attended by
heavy transactions, the clearances Of Saturday
representing Fridays business) reaching total
of over $75,OO0,OO0. At the decline hrmness en-
sued, and either the market was taken hold Of by
the clique again or the ''shorts" were profting by
the chance to cover for 1t evinced strength which
might be explained by both these reasons.
In stocks the more prominent incident was the
oficial announcement Of the intended conversion
beginning July 10 next, Of New York Central scrip
Into stock intelligence which operated at once to
bring the two securities together and advanced
both to the vicinity Of 9sA. Pacific Mail was steady,
In face of the Injunction litigation, and Western
Union firm. Northwestern went OF about two per
cent on the omission of dividend, much as such q
probability had been discounted. Erie, on continued
heavy sales for foreign account, declined to COZ,
closing about e2H. AS compared with Monday
morning prices at the close differed by an average
of hardly more than one per cent.
THE BANK STATEMENT.
The bank statement proved favorable on strict
analysis Of the weeks movement but the changes
were not Of moment, the gain In surplus reserve
being only about 100000 The statement com
pares with It's predecessor as follows:-
June /. Jlne 8. changes.
Loans $2S4 674, 800 $2s7 200 Inc. 81 43s 400
Specie..... 21,26SSO 2O,346,000 Dec... 922, 800
Circulation 27,522oOo 27,5o2,5oO Dec.. 1880
Deposits. 226,070900 27,301 400 Inc.. 500
Legal ten. 65.7S0,500 65.10S,100 NO.. 1927, 900