The Portland daily press., 1873-10-15

New Work Stock and Money Market.
NEW YORK, Oct. 14-Mornino.-Money at lie
per cent and interest. Gold at 1883. Sterling Ex-
change 1868 q 1919.
NEW YORK. Oct 14-Even;nq- There has been
more excitement il Wall street to day, attended by
great depression on the Stock Exchange. This was
brought about by the advance in the Bank of Eng
land rate additional banking stock and mercantile
failures and the difficulty in procuring money in
large amounts on stock collaterals. The banks are
extending little or no assistance to brokers, while
foreign bankers calling in loans stocks and
fusing to make any new loans. Thus brokers gener-
ally have had to resort ia sales to procure money in
large amounts, and it these forced sales which
drrgged down the market to-day Bankers were
buyers of exchange, and gold Rumor SAYS in obedi-
ence to orders from Europe the natural result of ali
the above was sharp advance in gold premium with
a feverish and more active market. Money worked
backs closed frmer at a per cent. prem.
The following is the Clearing House statement =
Currency exchanges, S53 1885, currency balances,
S3224 sSS; gold exchanges. 319; gold balances
S634, 285.
Foreign exchange was firmer in the morning and
bankers advanced rates to 107 q 1885, but there was
business 1G6k 1073, while at the close prime
bills could be bought at 1O6s q 107s Custom re-
cepts to-day SS93000. Gold was active and higher
advancing from 1859 a 1885, and closing at 109s The
rates paid for carrying to-day s. 8, 1-32 and 7
per cent to fat for borrowing. The final rate was
per cent. for carrying
The Asst. Treasurer to-day paid out S135 900 on ac-
count Of interest aud $4,000 in redemption of 90
bonds SIS 700 of foreign specie received at the
Office to-day. Total amount to date $685.. 900.
. The days business at the Gold Exchange Bank
was as follows Gold balances, 81 1877 $50; currency
balances, S1308, $685. gross clearances S31 SIS O0O
State bonds were weak and downward. Govern
ment bonds were frmer and higher to-day, the adj
vance in gold having impaired strong tone to the
market Among the failures to-day were William
Hoge s. Co., bankers, w. M. Whttemore & Co.
Wise q Cross and G. II. Pierce, stock brokers, and
Gillespie. Trowbridge & Co., tea merchants Other
failures rumored and some considerable uneasi-
is manifested in financial circles. None of the
reports vet mplicate the dry goods trade At the
Stock Exchange Boyd, Vincent & Co. were sold out
under the rule but have not failed. This firm turn
ed Lake Shore with two parties who wanted them to
sell it out Themselves but they declined to violate
the lunctions and the other parties sold them out
under the rule. We understand that the difference
amounts 500 900, nearIy all of which is and has been
for some time past on deposit in trust bank. The
stock board oIened weak and with decline of from
a 2 per cent. from last nights quotations. The
railway and miscel aneous movement was irregular
and downward and the heavy pressure to sell during
the day resulted in decline throughout the list from
per cent. The prices to-day touched lower points
in many Stocks than during the late panic. The
market closed very unsettled and marked uneasy
feeling to what may occur to morrow. The great
est decline ia Western Union, which broke
from 57k "a 51a rallied to d. dropped to 49, closed
at 49, Lake Shore from GA a 663, receded to 63l
recovered to g. declined to 594 left off at co. New
York Central fell Off from Sss a s2a rallied the
close to s3s. Other fluctuations were as follows: -
Union Pacific opened at 1S1, sold off to ia up to III
of to 1Gk and 49, Erie opened at 49, sold up to 49, off
to IS, up to 45, off to 42, and closed at 44l "a ASH
Pacific Mail opened at 30a, sold off to 291 a Is. up to
25a and closed at 26 a 26h. Investment shares
shared in the general depsesson the greatest decline
having been in Delaware & Lackawana, which sold
down from SSA a 81.
The dividend on New York Central stock will be
paid to morrow; also the dividend on the script
stocks still outstanding heretofore paid at the Union
man u Co. A paper Is circulating among brokers
for the establishment of a Stock Clearing House.