, 1873-10-22
: FINANCIAL.
Another Quiet Day in Wall
!: Street. -.
No Special Change In tho Stock
Market;
Singular Rumors from Wash
ington.
The President About to, Draw on tic
Legal Tender R(serye. -
The Government Proposes: to Buy
l.. Five Millions Ct Fordigh
!: - Exchange;
Effect Of the Stringency on Eastern
= Manufacturers.
Reduction Of Wages by the Lake Shore
Road.
Mr.. Boutwell's Lecture on Finance
Eject of the Stringency on Eastern
Manufacturers.
Reduction of Wages by the Lake Shore
Road.
Mr.. Boutwell's Lecture on Finance,
NEW YORK.
Special Dfspat:h to tbs Chicago 7TibHnt.

PRESIDENT GRANTS SCHEME. =
NEw Yonk, Oct Nl..-Wau stroot waH dull to-
day, Notwithstanding stories circulated to tho
effect that President draut has concluded to
tako In hand the job Of regulating md keeping
in proper ortor tho commerce aud trado of tho
country. According to tho Btory, tue presi-,
dent has determined to purchase E1000,-
600 storling exchange (about 100000.
tho ayaila OF which ate TO DO
placed TO the credit Of tho State and Navy Do
partments in London, to be drawn against for
the expenses Of those departments in Europe as
necessity may require. Tho Government re-
quires funds in London for tho purpose stated
but $4,000, COO seems Al extraordinarily large
sum to sond at ono time. II so much Ia not
needed now, aa is quite evident, and this move
, mont is only for the relief OF the foreign OF.
change market why was not the measure adopted
neea at 5ns aes when there ~a' much s'sat'F
It is furthor stated that tho President hns
givor, Assurances that ho will do everything in
Ills power to reliovo the money market hore,
would be liberally drawn upon, at the ratio Of
50, GOO 600, and more II necessary per week, till
currency should become plentiful and businesB
resume its usual course. Although theao atorios
valance with tho position ho waa undcrutood to
occupy very recently, they nevertheless seem to
be orodibly youched for. They have the
authority Of prominent merchant, who OBJ
terview with the President, and he Qlle mer-
chant) WAS also tho bearer Of q letter from
President Grant to President OF metropolitan
bank roitornting thosn assu ances. Washington
dispatches state that socretarE hiolradron d., de-
then it is barely possible tbat Con.
Grant has not yos Issued Ills orders to the
Secretary; and il iu. again possible that tic
whole thing 10 joke: No doubt tue movement
would materially, aid in the shipment Of produce
abroad, and would, for timo at least, enhance
the market value Of railway sllares.
THE srocK MAnKEr
ruled tame. prices ~, auctuating from to
wore pr IL Sestern usop ssa Which
5e}9 RECOVERED o to % 57, I'D closed s at s7@s7:
Lake Shore opened at 67e1 1@68. declined to 667l,
Tss to md os7sa ssse - 1t s.S as1 Nov YGh t%a
Il ' ss%@seS@s0: ''- Rock Island sold ~ at
ss@as$7 CUB; 6;s.u,Ss Wabash 1,os.u,pss G. aa@42
se toaof Il; P.nama az M IT s. to so Il one tms in 81 but
| late in tho day sold at 90 Erie strong aud adj
vancod firm at IS to 47. Shortly before the closo,
thele was reaction Of 55 per cent from tho lat
No further deya!opements in the failure OF
Himber, Divan i Co. The extended complca-
tions Of the Grinnell emhar1 aBsmonta bid fair to
entorpose check Ia dealingn for tile present. aud
| tho outlook from this poiut is not satisfactory.
nREADBTuFFS.
Tho demand for four is light, and medium
and high grades irregular. Low grades ac.rco
and in fair demand for export. Wheat-Market
firm, and moro confidence exhibited by dealers.
Favorable news from Europe and = better mar
ket for commercial sterling exert = roasBuring
influence. There il more actiyo movement in
berth froights. Yessels for charter arc in good
demand, especially those adapted to tho wants
| Of the grain trade.
ITO tbs Aasoe1ated Fress1
THE NATIONAL LIFE.
New YonK. Oct. Alt ia atsted that not oyel
41000 900 will be realized for the bencit Of policy
holders Of tho National Life Insurance Com
| plnY,