The New York herald., 1873-10-19
The Bank of England Advances Its
Rate to Z Per Cent.
MORE COIN COMING.
Government Bonds Unsettled Railroad
Bonds in Moderate Request.
OUR IMPORTS AND EXPORTS
WALL STREET,
VAIL cIhEEI,
SATURDAY. Oct. lS-6 L. M. I

SATURDAY, Oct 1S-o 4. NJ.
The market to-day again illustrated the analysis
OF situation that has already been set forth in
these columns. Cut loose from external influences,
1t is now depending upon those which spring from
itself There no clques TO follow, no adroit
"hnts' to obey, no points, to encourage, no
nothing that in past times has driven the street
nad. Each individual is acting according to his
OWN Judgment or, TO put 1t more truthfuy, his
''guess work. and We therefore have natural
and spontaneous condition. True, 1t is in the
power OF shrewd halt dozen to manufacture false
hood and make it win for twelve hours; but re-
action to follow, and the market is certain to
RECOVER ITS EQUILIBRIUM.
For any fluctuations in the near past that have
occurred reason need be given. They have
simply responded to the supply and demand,
neither the short nor long interest being of sui-
nent dimensions to excite alarm. change Of two,
three or i've per cent in such condition is not un
natural In the Stock Board man gauges his be-
lief by his bids, and when the foundation for the
same exists nowhere save in his own Judgment
even though score may be OF the same opinion
there is no danger OF undue speed The check rein
will be pulled in time to prevent accident, and a
malt occur to examine the danger. Hence there is
nothing in the pending situation just now observa-
bic which need provoke apprehension. Slowly, but
surely, Wall street is passing through the process
Of recovery. Its means are widening, its ends are
again being adjusted. its resources are being am
pli6ed. and whatever 1t possesses as a financial
power Is again taking snape There are no more
Idols, no more imitation, more pursuits OF
f0aes Jdtut-only a reasonably safe wholesome
business We speak 1.-THE present moment.
THE STOCK MARKET
to-day was in a condition which could not be un-
nerstood from hour TO hour. Its fluctuations with
out beng wild, were without apparent cause and
those who assumed risks did SO like gamblers in
any game Of chance. To Illustrate, Western Union
opened at 56, advanced "a fell OF to 55ls, recov-
cred, declined, and at the close advanced to
b74. Harlem declined from llo to lle sold
again at ITO and closed at 1922. Central
began WORK at ssA, sold up to ssA, down
to ss, advanced to SO and closed at ss7s. Pacific
Mail sold at BIZ 80 a S2S S21s SO a SO S3.4;
Rock Island at 9oa4 81 eo4 go a 81 a e1ls
BIZ; Erie at ASH As 451s 451s Az 44ll q
AZ a 45; Lake Shore at 674 81 a 66z 66ss q
66zs 81 671s a 66z a 667s 67,s a 669 81 67s.
6sA 6S 6sls. Northwestern common sold at
4o4 40 s9sl 395s 4oA a 80 a 3sat 39ls; st.
Paul at 80 ao1s 81 S1i&; Union Pacific at 19h a
1e14 1874 1s1z; Wabash at AL AZ a 4214 42sI
Al y AK 42l4 43 431z 43A c., c. and /.
c. at y 21A 2l1s % 21ss q %. Ohio and Mis-
sssippi ranged from 25A and 261S to %. Delaware
Lackawanna and Western was comparatively
steady at s9i4 a SO s9k; Panama at s3 "a; New
Jersey Central al 80; Pittsburg at so.
TIE MONEY MARKET.
IL is pleasant 10 record that money to-day was in
larger supply than it kas been since the reopenng
OF the Stock Exchange, ranging from lie to per
cent until one or two O'Clock, and thereafter
Ito per cent GreenbacKs were quoted at1-Ie q x
per cent premium. No bank statement was issued
to-day. The outstanding legal tender circulation
has decreased 100000 since Friday. The Govern
ing Committee were in session to-day considering,
among other things, the report OF the committee
appointed to consider plans for the establishment
OF clearing house for the Stock Exchange. 1t is
understood to be the intention OF the Union Trust
Company to reopen for business at an early day,
with an enlarged capital OF 81 ,000, 600, the new
capital TO be 100000. There will be meeting
on Monday. at which the matter will probably be
decided. Foreign exchange, usual on Satur-
days, was dull and neglected. Prime bankers
rates were marked up to 1864 for sixty days and
los for short sight. There were some prime sixty
day bills in the market low as 1867 l061s and
good bills at LOG, but short sight was scarce at full
prices. There was nothing doing in commercial or
Continental bills.
THE GOLD MARKET
advanced trife to-day, perhaps in response to
the rise in the rate OF the Bank OF England touch
Ing 1857, but subsequently 1t receded TO 1881 and
closed tloS9s. The rates paid for carrying to-day
were g. 3, 2 A. 8, and lie per cent. The nnal rate
was lie per cent.
The prices OF gold to-day were
10A M............ 1851 12:1s p M....... 1851
lo:o1 A. M......... 1881 12:47 r. M........ 1885,
10:02 A. M......... 10SsS 1:20 p. M....... los i