The New York herald., 1872-10-25
STOCKS WEAK AND LOWER.
Disappointment at the Course Of Prices
After the News from London.
PACIFIC MAIL DOWN TO 90.
Special Movements in st. Paul
and Northwestern.
ADVANCE IN FOREIGN EXCHANGE
WALL STREET,

WALL STREET, !
THURSDAY, Oct. M-6 M.
On 'Change to-day cotton was in limited request
and Nc. per ID. easier for 'spot,n but steady for
'.fnture." Flour was duh and weak. Wheat was
quiet and shade easier and corn lower
THE BANK OF ENGLAND,
contrary to the expectations widely entertained
did not advance the discount rate, which remains
- the minimum of per cent. As consequence
Of this action, or inaction, the London market was
much armer for consos and easier for money on
the street. United states bonds were steady, but
without essential change in quotations. Our spe-
Cial cable dispatches from London advert to the
matter OF the transfer OF specie from the Bank Of
France to the Bank of England and assign certain
political reasons for the alleged
OFFER OF ASSISTANCE.
special cable despatch to q Wall street news
agency announces, on the authority of the London
Times, that the French government contemplates
the liberation shortly OF portion of the f26 900
now In Its possession. Those who choose to specu-
late uDon these various circumstances are at lib
erty to draw what inference they please from them,
but those who wish to learn the exact meaning OF
them ought to wait the details by mail. Meantime,
while the Bank Of England has lost for the week
the sum Of f3S 900 in bullion, there is evidently
better feeling in the
LONDON MONEY MARKET,
and many Of our shrewder fnanciers are confident
the bank rate is more likely to be lowered than
raised at the next move although the present
minimum may be retained quite while. Indeed
. flrst Interpretation of the several items con-
corning the relations and doings Of the Bank OF
England and Bank OF France would imply that
the Bank OF France. suffering from plethora Of
money, was playing the role OF goury charitable
int tnnlnr 1rnIv, nt~n
while that neghbor, seeing prospect of relief as
England sees one, in the prepayment Of
THE GERMAN LOAN,
was loath to accept q favor from o political and
commercial rival. In other words, the money W hch
England has subscribed to the French loan is COM
Sng from Germany. London, keeping her supremacy
as the financial centre Of the world, is sort of q
clearing house fer the involved process by which
France collects the subscriptions to her new loan,
snd turning over the proceeds, by way OF in
demnfty to Germany, enables the latter to pay OF
the war loan and reimburse the English subscribers
70 It, The circulation OF money is thus likely to be
kept up IN healthy movement England feared
IN interruption Of it with bad results to herself,
but seems to be reassured now that Germany
agrees to prepay the war loan at q rebate OF the
market rate for money.
ADVANCE IN FOREIGN EXCHANGE.
The camer advices from London did not prevent
an advance In the foreign exchanges, but the cause
Of this advance was Of q purely local nature, viz,
the greater abundance OF cash gold. Indeed, the
market was only resuming its position as it stood
before the stringency in gold loans, except that
the sight rate became less firm in view OF the non
alteration Of the Bank OF England rate, and the
vague impression that a higher one is q very re-
mote contingency The following were the closing
quotations STERLING, sixty days commercial, 1857
1855; do do, good to prime bankers, 1os% IO9;
do short sight, 11oI 110,S Paris sixty days,
6.32h 5.27A; do. short sight, 5.232i 5.22ls;
Prussian thalers, 711z ~; Antwerp, 52sx 5.22A;
Switzerland. 5271s 5.2lA; Hamburg, S5,k s5zs;
Amsterdam, 40 a4oh; Frankfort, 4oA 41A4; Bre-
men, 95 95I.
MONEY EASY.
Money was easy, and, as compared with the pre-
vious day, might be said to be somewhat more
plentiful That is, the closing rate was per cent
against yesterday. At the beginning, however,
there was the feature of activity at per cent
with occasional loans at that rate in coin. The
parallel was continued down to two O'CLOCK when
the comparison varied in the fact that accounts
were made up at an earlier hour, and that by half
past two O'Clock the lending rate was down to
Bper cent. Mercantile paper was quoted IL
per cent discount for prime names.
GOVERNMENTS FIRM.
The government bond market was firm and
feft of at the best prices OF the day. the 67s SELL
Ing at 11511. The steadiness Of the gold premium
and the easy working OF the money market explain
Its strength The following were the closing quota
ons:-United States currency sixes 1l3h a 113af;
do do, 1881, registered, 114s l15 do. do, coupon
ue% 116%; do, fve-twenties, registered, May
and November, 1929 1922; do. do, 1862,
coupon, do, 115a< 116; do do, 1854, do, do,
nSI lle; 40. do, 1856, do do, 1le 11e1l; do.
no. 1857, registered, January and July. 114ss II4z.;
do do, 1865, coupon, do, 114s 1145s; do do 1867
dc. do, 115 115is; do do, 1865 do. do, 114x a
1l5; do, ten-iorties, registered, 1os2s lOsss do.
do. coupon, 1857 1oSss; do dves OF 1884, regis
tered, 1C94 1oe6; DO. do, coupon, 11o7s 111a.
THE RAILROAD BONDS.
The following were the bids ior the railroad
bonds:-