The sun., 1872-11-12
FINANCIAL AND COMMERCIAL.

FINANCIAL AND COMMERCIAL.
MONDAY, Nov. lip. M.-The day In
Wall street was characterized by periods Of ac-
tivty and excitement, such as are only recognized
when financial revulsions sway the public mind.
I'he disastrous Boston connagration, though by
no means a parallel Of its Chicago prototype,
yet brought together at an early hour an excited
throDg In Wall and Broad streets. and the gen.
eral feeling among operators was to throw over
board their speculative ventures without regard
to cost.
The early operations were therefore char
acterized by a wild and excited feeling, which
at one time drifted on the verge OF nrst
class panic but the large short interest recently
put out subsequently came to the rescue, and
by covering their contracts gave encouragement
to the bulls, who were also sustained by semi
ofhcisl intimations that the Government would,
II necessary, afford financial relief to the coun-
try. The general range Of prices, however, was
the lowest during the first hour Of business,
and when the morning session OF the Board
convened there was observed calmer and more
steady feeling, which resulted In a sharp rally
among the chief specialties. As compared with
Saturday closing figures the decline ranged from
2 to o. v cent, Pacific Mail touching 81 Rock
Island, 101 Lake Shore, S3j& Northwestern com
mon, 17A Ohios, 40; New York Central, N; Erie'
4sA (; st. Paul common, 81; Wabash, "a Western
Union, ~ C., c. and I. c., %; and Union Pacific,
30il. In the reaction at the FIRST Board, Rock
Island again rose TO 1O6a Northwestern com
mon, s2's ohios, 49,; Pacific Mail, IS Western
Union, 7S; c., c. and /. c., 30A Union Pacific,
81; wabash, 81; Lake Shore, sil Erie, 4eh and
New York Central, q9. This advance was fol-
lowed by a reaction averaging about D cent on
the active snares, though there was later In the
day, after periods OF feverish excitement,
stronger and much improved market, which
continued up to the close. The Boston disaster
would have reflected much more seriously upon
the Stock Exchange had not the main facts been
communicated on Sunday, and the speculative
public to quite degree discounted the effect
upon the commercial interests Of the country
before the markets opened to-day for business.
There we're quite a number Of stock failures to-
day, but, generally speaking, the amounts in
volved prove limited. The orders from the
country to buy stocks gave more cheerful
tone, and will explain the advance In the nnal
| dealings.
The gold market was not directly Influenced
| by the causes which operated to produce so
much disorder In the other concerns Of the
! street. that market being more directly under
| the influence Of London and the Continental AZ
fairs. There the situation Is one Of gravity, and
| gives cause for apprehension OF future trouble
| In our monetary relations within the next six
weeks. Still the graver considerations which
| TODAY taxed the attention Of home operators
were sufficient for the moment to neutralize in
| a deg 90 the effect u London troubles. Opening
| at ll4A. the price eventually touched ll3's, on
some quite liberal sales under the expectation
that more than the advertised Treasury gold
| would come upon the market during the week.
| The export demand has been light, and
! in this department of the Exchange the usual
quiet has been observed. There was pen-
| tlful supply OF cash gold throughout the
day, and holders paid I To ! y cent to
have balances. carried. The Assistant Treas
urer disbursed syl0U0 in coin interest on
the public debt, and redeemed sl0,0D 5-as. The
days transactions at the Snb-lreasury were
| Gold receipts. $BH.3l3.q: gold payments, S5ig.-
ceipts, til ,66sbl currency payment, $7A,l2! Is;
currency balance, $.i,s'i,a.l.ls. Customs 49,
The total clearings at the Cold Exchange Bank
! were SPi .9tn,GO; gold balances S2,Gt2,,i2 and
currency balances, $3,-jo,lJJ The following
were the quotations;
1919 1919 l. SIs NSiI$ i:.S s uIs> sP sP NH.iilss' is
iO5i 4. N...iiH 80 p. N...iiSe 80 =. M...iisS
Foreign exchange has been duh and quiet on
the basis Of loel, los's for prime 10 days bills,
and llO', ,lll0@ for short sight.
Considering the circumstances OF disquiet and
the unusual elements OF dscord in the market,
money has shown no wild movement. The In
| quiry was freely satisfied during the forenoon at
! about : h cont,, but AN eager demand sprung up
this afternoon. resulting IN the payment Of first
a thirty-second and then a quarter b cent.
bonus, the closing business being at to an
eighth Ii Is understood that the Treasury
stands ready to come to the relief of the market
whenever u becomes necessary. Discounts were
unchanged.
The Government bond market naturally felt
the influence Of the unsettled condition Of the
other departments, as well "a the lower quota
tion ofbouds atLondon and the activity In money
here, and prices were lower. The transactions
were light. however, and there was "a noticeable ID
absence Of any pressure to sell. sales of o.
were made at lH'., and Gis new at lH&. The
Henrl Clews \ Coz r Wall street, report prices
as follows at L. NJ: