The sun., 1873-09-29
FTNANCF.fL AND COMMERCIAL.

SATURDAY, Sept. 21-P. M.-Thc cheering
indications of returning confidence noted
Ia this mornings issue, added to the fact
that on Friday FROM 1900 to 10000
shares ~ stock had been adjusted by
the brokers among themselves, received
further development to-day, and when some Of
Mr.. Nantcrblits brokers lifted few thousand
shares - Lake shore the INSTRUCTIONS which
had heretofore cumbietcly coRged the usual
channels OF ciearances rsGc suddenly removed.
Brokers began n, once tu settle up with their
ncRhbors, and before midday more cheerful
feeling became the great subject ~ congrnt ula-
tior. Very many firms were attic 10 effect much
better settlements with their creditors than hey
had hecnled To- expect, and when VI the afternoon
the Governing Committee decided upon opening
the Stock Exchange on Tuesday, added to the
fact that money soon began To be freely offered ON
stock collateral the whole current of the market
because thoroughly changed, and the street
iXcd by great activity as well rs anxiety to pur-
chase. The liberal action Of the Associated
Banks In proposing to issue an unlimited
amount Of loan certificates, subject only T. the
Judgment ot the committee, gave assurance
that the inercautil" community should lie pro-
trrtcd and also sided much IN the restoration
OF confidence. The early loans " money On call
uil Monday were effected at y u cent. anu ad-
ditloual interest. hut this rate was suhsequently
reduced 10 \ = cent, with hnal offerings u the
legal currency rates. In the settlement Of con
/ rn'itv and vnnce-si ns com patthe with financial
scli-IrcscrydtiUn sh puld be extended u those
/ -ihlc fnr this sudden decentralization Of all
yaluca. 4 few DAYS delay may enable many
nrus to pay their CONTRACTS In iuIl WHICH u act
wouid fof,S fner into naniinptry. 11ic ruoir
. must bc prep lrri h. rwcvcr, to receive the au-
nounceiuc cnt ol th" tNure of some other trms
during the week, which the late financial storm
prostraied. but who cannot he discovered
until business is again resumed. The nun ber
4 ~ti. however. he stuall, and II the brokers are
. as successful in crcciing settlements on Mon
tiuv as they have hecu TO-DAY. the business f
+ Tuesday morning ought to start oil with encour-
aging indications. IN lhc recent speculation
ncmn,ns ,ne anle' p'h pn's % and Uess @ wetp
thc money which they had loaned upon the
/ stock they had borrowed. and they consequently
/ found themselves bulls when they had supposed
they were IN the bear size. To illustrate this
more fdlly TO those unfamiliar with Wall street.
/ Of Western linton az ~. \. borrows this stock
. Of G. aud makes a loan to g. on the same at 40
lie delivers this stock to H.. and when the price
declines 1" O, y. purchases luO shaies' which he
offers - return to G.. and thus expects 60 clear
. uroLt of $500; but G. has been forced to sus-
i'cud from other causes, and cannot return the
/ loan maze at -. and A. therefore finds himself
soddlcd with the stock At this hign ngure There
I are very many operators on the bear side who
were caught IN this way, ana they do not vet
dare 20 cover their short contracts until the
market may rise sufficiently Ia permit their
/ 4, utUrs t. meet the differences. The Stock
ExchAnse wll therefore probably commence
. operations on Tuesday morning with an unusu
T aliv arm nnious feeling hetween such hulls and
bears Of the market ~ are above alluded To-, in
asmuch bOtn contestants seem to desire
better prices.
me gold market Wa sctive and excited
. thrnuEhDut the daN, and the fluctuations wide
I and frequent The opening pIire wh@ llfA.
i from which il rose to iljt before MIDDAY. hut
an wcll-crculated rumorS that the secretary of
the Treasury would sell Sj.tJluJJ To strengthen
. Iii currency balance, the price druppcd OF T.
| lIG't at the close. This market viii uudouht-
t4N 4ctke throughout tie actk In gold luau- t,,
rates PAID for nortowinE were :, \ sat 80 q anu
sunecIuentK = with hnHl negotiations nt A, y. ami Hat
! he total ccarings a, tie Goli Exchange Hans were
.-9!tr. gold balances, fi.1If.Nl. and
snccs 5lf ~ The -utT Trcastiry redeemed o. no m
r-red hense sud Iiid ont coin Interest the pub
hr debt tsiW The following were the principal ono.
J tatluIs: