The New York herald., 1873-11-14
FINANCIAL and COMMERCIAL
A RAMPANT SPECULATION.
Stocks StOutly Upheld, but the Situ-
alton Uncertain.
The Rivalry Among the Dry
Goods Men.
AN ACTIVE MONEY MARKET.
The Banks Still Gaining Legal Tenders-.-They
Now aold $27,OOO,OOO
@ O l. ID II O. HI Il II !.
AN ACTIVE MONEY MARKET.
q O L ID III I @ HI r II
Government and Railroad
Bonds Stronger.
WALL STREET.
THURSDAY, Nov, 1876 p. M.

THURSDAY, NOV. 13-6 L. M
Tho day In this locality has presented few
features OF general interest beyond such as natur-
ally attach to q strong market and "bulln specu.
lation. The condition is by many regarded as
anomalous. without precedent, and. II not abso-
lutoly uncertain, one which at least demands ex-
treme caution. The large short interest that ex.
listed several days ago has been generally covered,
and from all appearances the trading Is
confined entirely to the operators In the board.
II there were q basis for the advance the market
might be deemed intrinsically strong and encour.
aging for tho future; but there is nothing to
rant the conclusion that stocks are not sale at
present figures, and that any event Of considerable
Importance would not cause decline almost as
rapid as the rise. The market at the close indi-
Gated that this suspicion was already at work.
THE INVESTMENT DEMAND
at the prevailing ngures has been very Sight, but
business In the interest OF spectators who depend
on the changes OF the hour for their profit was
large and well distributed. The fluctuations
were wide, and at times there was an exhibition
OF some excitement, especially when 1t leaked out
that certain members OF the pool formed to bull
stocks had been 'uumping'' the same at the ex-
pense of their neghbors. The rumor that the
treasurer OF Western railroad was delauter to
the extent of 100000 also had depressing influ-
sence. subsequently it was stated that the party
referred to had paid up 100000, leaving only
500 900 TO be accounted for Towards the close OF
the day 1t was hinted that one OF the city banks
would develop
SERIOUS EMBARRASSMENT
before Saturday night. The name was withheld.
significant feature Of the hour Is the sharp de-
cline In certain classes OF dry goods that has been
enforced by the pending rivalry between various
houses. We have referred to the great contraction
that has already taken place and the erect upon
inferior houses that will probably Be felt and illus
trated in the large amount OF paper now outstand-
ing, the security for which is goods at ante panic
prices. But what must be the influence upon
trade when manufacturer and merchant comes
into the market ana underses Claim
Co. BY 20 per cent? In other words, q we'll
known nrm are to-day reported as selling
Amoskeag prints at &c. yard, and prints OF
their own manufacture at TIC, which are being
sold at 8hc &C. BY the house referred to. Az egi
innate questions-Has it cost so little to manufac-
ture these goodsf Or can they without reaction
In the price Of labor be reproducedf Or is this
polite process Of liquidations
THE MONEY MARKET.
Money was active to-day at per cent on call
loans and approved collaterals but at the close
was easy at per cent. Foreign exchange was
advanced late in the day to 1o7 for prime sixty
days. sterling and 100 for sight, actual business
being done at 4 less. The associated banks now
hold $2 00O 900, gain OF $780, 600 since yesterday.
The steamship Holsatia from Hamburg and
Southampton, which arrived this morning, is re.
ported as having on board $4l2,ooo specie.
THR UNITED STATES TREASURY.
The following were the balances in the Treasury
at the close OF business to-day
Special deposit OF legal tenders for re-
demption OF certificates Of deposit.... l2.675000
Snc,nd;n co; 90 zSs Sso
Outstanding legal tenderS.... 362, GIL
The internal revenue receipts to-day were
$259475 The receipts from customs were $221. 900.
The Assistant Treasurer paid out to-day $1OO,0o
on account Of interest and SO, 600 In redemption
OF nve-twenty bonds. Forty-lve thousand dollars
were received at the Assay once this afternoon,
making total since October OF s1,s4e,S26.
GOVERNMENT BONDS
were strong in the late dealings, and closed at the
highest point OF the dayUnited States skies, 1881,
registered I12h 11s; United States sixes 1881,
coupon, 1l3X; United States nve-twenties, 1862,
coupon, 10ek a 1o7; United States fve-twenties,
1884, coupon, 1917 1o7A; United states nve-
twentes, 1866, coupon. los 1osk; United States
nve-twenties. 1856, coupon. new, 1l0A Ill; United
States fve-twenties, coupon, 1867, 1l2A 112,s (;
United States fivetwenties, coupon, 1868 1922 q
12k; United States ten-forties, registered 1861
losk; United States ten-iorties. coupon, loe a
1O6k; United States Hves, 1881, coupon. 1O6 lot ;
Pacific Railroad sxes lo9k ITO.
THE GOLD MARKET
was doubtless Influenced by probabilities con-
nected with the Cuban complications as well as by
the possibility that scarcity OF gold VIII be found
to exist when the government is called on to pay
Its next instalment OF interest on the public debt
and redeem the $40, 100000 loan due on presenta-
tion after the LIST or January, 1874. The price ac
cordingly advanced as will be observed by the fol-
ost ha mi at.